, Corbin, KY

Local News

May 14, 2014

Board approves 2014-15 Corbin Tourism budget

CORBIN — By Jeff Noble / Staff Writer

The budget for the Corbin Tourism and Convention Commission is in, and it’s pegged at $1.42 million for total income from July 2014 to June 2015.

Meanwhile, total expenses for the 2014-15 budget year are shown to be at $1.40 million. Net ordinary income was shown to be at $14,509. When interest income of $165 is added in to the the ordinary income total, the final net income comes in at $14,674.

Board members approved the new budget Tuesday, during the Tourism Commision’s board’s regular monthly meeting.

Kyle Perkins, a Certified Public Account who serves as the board’s adviser on financial matters, said the projected budget cash surplus was $28,674.

“We anticipated revenue increase with the budget, due to several new restaurants coming in,” he noted at the session.

Of the total income budgeted at $1,421,173, the biggest money maker for Corbin Tourism was far and away the income from the city’s restaurant tax, budgeted at $1,250,000.

That’s followed next by $110,000 from the city tourism tax, which comes from six Corbin motels.

Of that group of six, Holiday Inn Express was budgeted to bring in the most revenue form the tourism tax at $54,000, followed by Best Western Corbin at $25,0000, and Country Inn and Suites coming in at $19,000.

Fourth was the Days Inn with $7,000, then Landmark Inn at $4,000 and the Economy Inn budgeted at $1,000 revenue from the tourism tax.

Among other income budgeted to come in for the 2014-15 year was $30,000 split at $10,000 each from a car show, a fishing tournament and a rodeo. That was followed by $20,000 revenue coming in from a grant, and $10,173 coming in from matching funds.

From the total income, the vast majority of the Tourism Commission’s total expenses of $1,406,664 is budgeted to be used to pay Arena Operation Funding Expenses of $965,000.

That leaves $456,173 for tourism-related activities. Topping the list there are event sponsorships that came in at $139,500. Number one of the event sponsorships getting the most money is allocated for Christmas Decorations at $30,000, followed by $18,750 for the NIBROC Festival, then $11,250 each for two sponsorships — for Corbin Main Street Events and the Downtown Floral Project.

Four events — the City’s 4th of July Celebration, the Car Show, Rodeo, and Fishing Tournament — are budgeted for $10,000 each.

Other expenses budgeted for Corbin Tourism are $113,420 for Payroll Expenses, Wages and Fringe Benefits; while a total of $75,000 was budgeted for expenses from infrastructure projects. Of that total, $50,000 is set for the new Railroad Museum on Depot Street, with $25,000 pegged for the Exit 25 Beautification Project on the Cumberland Falls Highway with I-75.

Associate Director of Tourism Maggy Kriebel said at the meeting “Corbin Tourism wants to do it, and that the work on entrance and exit ramps should be completed in August of this year.

Kriebel added that she has the permit from the State Transportation Cabinet’s District Office in Manchester to do the beautification project, and would mail board members a Powerpoint presentation of samples of other examples of projects done by other cities.

Perkins also listed revenue and expenses from the 2013-14 Budget and the actual year-to-date totals.

Total income budgeted for 2013-14 was $1,045,417. Actual income from July 2013 to April 2014 was at $905,736.

Of that amount, income from the restaurant tax was budgeted at $933,333. Actual income from July 2013 to April 2014 was $804,195.

The actual year-to-date amount from the tourism tax was $94,293. It was budgeted last year at $83,333, so it’s showing a surplus of $10,960.

Total expenses budgeted for 2014-14 was $1,025,873. Actual expenses from July 2013 to April 2014 was $888,484, showing a surplus of $137,390.

Of that amount, the Arena Operation Funding Expenses were also the largest expense. Budgeted for 2013-14 at $701,000, the actual expenses from July 2013 to April 2014 was $630,037, showing a surplus of $70,963.

Also sponsorship of events showed a surplus of $42,792. It came after it was budgeted for 2013-14 at $175,250, while the actual totals from July 2013 to April 2014 came out at $132,458.

Perkins thanked board members who participated in the round of budget workshops, similar to those that happened last year.

“I think everyone will see we’re in business. The budget will show we’re doing infrastructure projects and tourism programs, and not about handing out money. People will see our direction’s reflected in our new management team’s direction for tourism,” said Corbin Tourism’s Chairman, Alan Onkst.

In her Director’s Report, Tourism Director Portia Gosser mentioned she has sent letters and will have a meeting with restaurants in Corbin, much like she did with the city’s motels in getting information from them that will be used for the new brochure she’s working on to market the city’s tourism efforts. She said last Friday’s Open House at the new Tourism headquarters on the Cumberland Falls Highway was a big success, and that Corbin Tourism will be one of three area tourism commissions to host “Leadership Tri-County” this Friday, along with the Barbourville Tourist Commission and the London-Laurel Tourism Commission.

Gosser added Suzie Razmus of the Friends of Colonel Sanders brought in the list of donations on the Colonel Sanders Statue project, listing total donations of $60,620. Gosser stated not all the money was used for the statue, and that some of the money was used for the pavers inside the park.

Kriebel’s report listed the Corbin Garden Club approaching the board about doing a Butterfly Garden at Sanders Park. Kriebel said the Elks Alley would also be a good place for potted plants, with the Garden Club asking Tourism for permission to do beautification at Sanders Park. A motion was made and approved, along with a motion for Kriebel to attend a “Gallery Hop” in Danville next month, to get an idea for a similar event in Downtown Corbin. The board also voted to give her permission to make the trip, at a cost of just under $75. In addition, approval was given to put in railing at a cost of $800 for the back of the alley between the Elks Club and Sanders Park.

Kriebel also told the board that Tourism has received a certificate of liability insurance for Corbin’s July 4th Fireworks show, and that the fireworks contracts are signed, saying. “We’re good to go.”

Later, board members went into executive session, to discuss personnel matters. No action was taken.

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