The lodger's tax statute stipulates a formula that indicates no less than 40% of revenues must be spent on promotion, marketing, and advertising. In order to reconcile the 60/40 split required by state statute, the tourism department will be doing special marketing to offset the capital expenditures and budget increases at Red Rock Park.
The plan for the marketing will include:
In our continued effort to improve processes and reporting the Finance department is recommending an update to the cash controls section of our Finance policies. The strategic plan currently has a task of providing a 10 year financial plan and this is one step toward that goal. This will help to provide guidance to Council members, department heads and staff when planning budget proposals and operational spending. The major funds are defined in the new policy.