Travel and Tourism Board updated on budget

At the May 19 Hot Springs County Travel and Tourism Board Meeting, during the financial report out-going Treasurer Matt Hughes said that the transition to the new Treasurer Audra Dominguez is underway.

She will prepare and present the next report in June. Hughes also said that the receipts are still tracking ahead of planned income. But they need to average $13.8K for the last two months to meet their income goal. However, it’s not likely, based on historical averages of $9.2L and $8.3K in May and June.

Hughes added that it is probably not an issue and that spending will need to be very high, about $46K/month to avoid adding to carryover.

For the month ending April 30 the income lodging tax total is $14,112.55 which includes five dollars of interest income.

For the past 10 months ending at the same time, the total is $147,503.82 which includes $94.54 interest income. The historical trend showed that for April the lodging tax income was $14,107.55 and is well up from the previous year, which was $8,212.59 and is well above the historical average. 

For a year to date budget analysis, the receipts are for 10 months of income lodging tax are $147,409.28 compared to their budget of 12 months for $175,000. Hughes said they are 5/6ths or 83.3% through the fiscal year. The YTD receipts are 84.2% of the planned $175K.

The currency carryover balance is $24,235. The remaining fiscal year budgeted funds are $74,615. The projected income for May and June is $17,907. The total funds expected are $92,522. The remaining monthly spending needed is $46,261. As of April, the total balance of the Money Market account is $52,100.38.

The board voted and passed to accept Hughe’s Financial Report.

Jackie Dorothy in her Director’s Report said that Tourism Week was celebrated May 2-9 and it included a video of Wyoming mayors. Thermopolis Mayor Mike Chiment was one of nine who were featured.

She continued by mentioning the Shoshoni Chamber of Commerce, which is at the end of the Wind River Canyon Scenic By-Way. They contacted Dorothy about potential partnership and co-advertising. Dorothy said, “The more people they bring in for their popular Tractor Pull and other events, the more it benefits our hotels, versus staying in Riverton.”

Also, Dorothy mentioned a new Airbnb in town is up and running with tipis available for rent. She said that Mike Stevens contacted her about the lodging tax and is happy to be part of their lodging industry.

The State of Wyoming has been allocated over one billion dollars from the newest relief fund. Dorothy said she jumped a call with the Wyoming Business Council to get an idea of how it will be dispersed and was able to give her opinion about it. She said, “You guessed it...tourism!”  

Jeb Schenck of Schenck Photography presented some additional videos they created from unused footage and additional production work from the previous year. Schenck also provided a tentative timeline for their Spring 2022 videos featuring three different storylines. They will be three minute videos each about Legend Rock, floating the river and about Boysen Reservoir and the marina. 

In new business, the Travel and Tourism board voted and passed to accept their 2021-22 budget with expenses totaling $378,725. Last month the board spent a day working out the details. The board then must submit the budget to the State of Wyoming Audit and as long as they do not go over the amount they do not have to resubmit it.