Executive Committee Meeting 10-15-24

Consent Agenda

Page 8 of 95

DETROIT METRO CONVENTION & VISITORS BUREAU

ACTUAL/FORECAST 2024

1st-Quarter-2024

2nd-Quarter-2024

3rd-Quarter-2024

4th-Quarter-2024

YTD-2024

Actual/Forecast

Budget

Variance Actual/Forecast

Budget

Variance

Forecast

Budget

Variance

Forecast

Budget

Variance Actual/Forecast

Budget

Variance

Revenues

Assessment

$

4,307,860

$ 3,893,490

$

414,370

$

5,401,340

$ 5,356,615

$

44,725

$

6,059,194 5,987,607 $

$

71,587

$

5,414,714 5,319,781 $

$

94,933

21,183,107

$

20,557,493

$

625,614

Membership Revenue

$

20,654

$

76,029

$

(55,375)

$

44,588

$

76,029

$

(31,441)

$

51,846

$

76,029

$

(24,183)

$

69,210

$

76,037

$

(6,827)

186,298

$

304,124

$ (117,826)

Events, Publications & Sponsorships

$

30,085

$

10,670

$

19,415

$

110,416

$

2,500

$

107,916

$

29,468

$

77,752

$

(48,284)

$

-

$

-

$

-

169,969

$

90,922

$

79,047

Other Revenues

$

217,407

$

168,000

$

49,407

$

398,319

$

154,574

$

243,745

$

243,848

$

168,000

$

75,848

$

96,735

$

168,000

$

(71,265)

956,310

$

658,574

$

297,736

Total Revenues

$

4,576,007

$ 4,148,189

$

427,818

$

5,954,663

$ 5,589,718

$

364,944

$

6,384,355 6,309,388 $

$

74,967

$

5,580,659 5,563,818 $

$

16,841

22,495,683

$

21,611,113

$

884,570

Actual 2023 Actual-2022 Actual-2021

$ $ $

3,855,301 3,085,521 1,676,097

$ 3,881,874 $ 2,645,221 $ 1,601,885

$ $ $

(26,573) 440,300

$ $ $

5,092,912 4,223,307 2,733,632

$ 4,812,529 $ 3,745,897 $ 2,324,589

$ $ $

280,383 477,410 409,043

$ $ $

5,640,888 5,228,754 $ 5,086,742 4,069,872 $ 4,189,287 2,812,210 $

$

412,134

$ $ $

4,827,014 4,628,726 $ 5,240,942 3,377,656 $ 4,337,507 2,374,447 $

$

198,288

19,416,115 17,636,512 12,936,523

$ $ $

18,551,883

$

864,232

$ 1,016,870 $ 1,377,077

$ 1,863,286 $ 1,963,060

13,838,646 3,797,866 $ 9,113,130 3,823,393 $

74,212

Actual-2020

$

3,448,633

$ 3,448,633

$

-

$

1,633,364

$

514,384 1,118,980 $

$

2,003,446 1,278,277 $

$

725,169

$

2,501,698 2,354,693 $

$

147,005

9,587,141

$

7,595,987 1,991,154 $

Actual-2019

$

3,776,886

$ 4,012,375

$ (235,489) $

4,682,371

$ 4,730,937

$

(48,566)

$

5,087,339 5,361,315 $

$ (273,976) $

4,503,540 4,590,367 $

$

(86,827)

18,050,136

$

18,694,994

$ (644,858)

Actual-2018

$

3,863,181

$ 3,927,050

$

(63,869)

$

4,552,546

$ 4,673,991

$ (121,445) $

5,301,631 4,968,955 $

$

332,676

$

4,912,761 4,430,467 $

$

482,294

18,630,119

$

18,000,463

$

629,656

Actual-2017 Actual-2016 Actual-2015 Actual-2014 Actual-2013 Actual-2012 Actual-2011 Actual-2010

$ $ $ $ $ $ $ $

3,701,622 3,416,729 3,160,313 2,995,995 2,619,150 2,627,968 2,293,556 2,038,457

$ 3,660,285 $ 3,255,122 $ 3,145,796 $ 2,771,317 $ 2,570,315 $ 2,490,920 $ 2,099,610 $ 2,102,747

$ $ $ $ $ $ $ $

41,337

$ $ $ $ $ $ $ $

4,405,687 3,997,145 3,738,328 3,390,843 3,110,541 2,938,240 2,562,495 2,315,060

$ 3,838,439 $ 3,887,862 $ 3,560,384 $ 3,258,737 $ 3,026,387 $ 2,686,940 $ 2,384,516 $ 2,297,943

$ $ $ $ $ $ $ $

567,248 109,283 177,944 132,106 84,154 251,300 177,979 17,117

$ $ $ $ $ $ $ $

4,796,440 4,649,022 $ 4,410,752 4,513,614 $ 4,260,540 4,126,067 $ 3,929,588 3,629,929 $ 3,517,742 3,373,296 $ 3,218,211 3,089,312 $ 2,990,593 2,734,083 $ 2,665,342 2,555,984 $

$

147,418

$

4,444,939 4,149,303 $ 4,233,640 3,822,383 $ 4,055,153 3,568,319 $ 3,775,947 3,265,215 $ 3,274,615 3,032,442 $ 3,150,601 2,714,543 $ 2,887,778 2,499,322 $ 2,520,318 2,374,742 $

$ $ $ $ $ $ $ $

295,636 411,257 486,834 510,732 242,173 436,058 388,456 145,576

17,348,688 16,058,266 15,214,334 14,092,372 12,522,048 11,935,020 10,734,422 9,539,177

$ $ $ $ $ $ $ $

16,297,049 1,051,639 $

161,607

$ (102,862) $

15,478,981 14,400,566

$ $

579,285 813,768

14,517 224,678 48,835 137,048 193,946 (64,290)

$ $ $ $ $ $

134,473 299,659 144,446 128,899 256,510 109,358

$ $ $ $ $ $

12,925,198 1,167,174 $

12,002,440 10,981,715

$ $

519,608 953,305

9,717,531 1,016,891 $

9,331,416

$

207,761

Direct Promotional Expenses

Fams, Events & Sponsorships

$

649,295

$

622,050

$

27,245

$

464,776

$

374,050

$

90,726

$

81,623

$

142,350

$

(60,727)

$

413,462

$

409,850

$

3,612

1,609,156

$

1,548,300

$

60,856

Tradeshows & Conferences

$

305,328

$

298,350

$

6,978

$

159,849

$

229,000

$

(69,151)

$

298,670

$

249,400

$

49,270

$

261,712

$

264,500

$

(2,788)

1,025,559

$

1,041,250

$

(15,691)

Sales

$

1,075,564

$

986,509

$

89,055

$

1,062,512

$ 1,052,009

$

10,503

$

942,053

$

964,849

$

(22,796)

$

920,999

$

882,003

$

38,996

4,001,128

$

3,885,370

$

115,758

Detroit Metro Sports Commission

$

968,898

$

930,195

$

38,703

$

1,036,079

$ 1,050,968

$

(14,889)

$

1,089,339

$

918,852

$

170,487

$

760,999

$

762,998

$

(1,999)

3,855,315

$

3,663,013

$

192,302

Bureau Services

$

1,107,566

$ 1,130,584

$

(23,018)

$

786,582

$

772,388

$

14,194

$

975,203 1,037,407 $

$

(62,204)

$

632,710

$

651,654

$

(18,944)

3,502,062

$

3,592,033

$

(89,971)

Advertising & Marketing

$

1,239,257

$ 1,081,111

$

158,146

$

1,599,795

$ 1,482,134

$

117,661

$

840,498

$

733,163

$

107,335

$

993,505

$

926,659

$

66,846

4,673,055

$

4,223,067

$

449,988

Publication & Mkt Communications

$

549,490

$

567,786

$

(18,296)

$

633,307

$

502,965

$

130,342

$

438,220

$

429,088

$

9,132

$

475,226

$

468,418

$

6,808

2,096,243

$

1,968,257

$

127,986

Total Direct Promotional

$

5,895,398

$ 5,616,585

$

278,813

$

5,742,901

$ 5,463,514

$

279,387

$

4,665,607 4,475,109 $

$

190,498

$

4,458,613 4,366,082 $

$

92,531

20,762,519

$

19,921,290

$

841,229

OTHER OPERATING EXPENSES

Executive & Administrative

$

435,645

$

432,568

$

3,077

$

377,321

$

374,109

$

3,212

$

351,473

$

338,082

$

13,391

$

422,756

$

384,177

$

38,579

1,587,195

$

1,528,936

$

58,259

Total Other Operating Expenses

$

435,645

$

432,568

$

3,077

$

377,321

$

374,109

$

3,212

$

351,473

$

338,082

$

13,391

$

422,756

$

384,177

$

38,579

1,587,195

$

1,528,936

$

58,259

NON-OPERATING EXPENSES Depreciation

$

42,296

$

39,624

$

2,672

$

15,687

$

39,624

$

(23,937)

$

42,427

$

39,624

$

2,803

$

42,540

$

39,624

$

2,916

142,950

$

158,496

$

(15,546)

Total Other Expenses

$

42,296

$

39,624

$

2,672

$

15,687

$

39,624

$

(23,937)

$

42,427

$

39,624

$

2,803

$

42,540

$

39,624

$

2,916

142,950

$

158,496

$

(15,546)

Total All Expenses

$

6,373,339

$ 6,088,777

$

284,562

$

6,135,909

$ 5,877,247

$

258,662

$

5,059,507 4,852,815 $

$

206,692

$

4,923,909 4,789,883 $

$

134,026

22,492,664

$

21,608,722

$

883,942

Surplus (Deficit)

$

(1,797,332)

$ (1,940,588) $

143,256

$

(181,247)

$

(287,529)

$

106,282

$

1,324,848 1,456,573 $

$ (131,725) $

656,751

$

773,935

$

(117,184)

3,019

$

2,391

$

628

M:\Monthly Financials\DMCVB\2024 Monthly FS\09 September 2024\September 2024 Financials\Forecast n Actual 09-30-2024sz

10/9/2024: 8:20 AM