11-25-2008
1 NEW HANOVER COUNTY TOURISM DEVELOPMENT AUTHORITY BOARD OF DIRECTORS NOVEMBER 25, 2008 PRESENT: John Andrews, County Restaurants Scott Cromartie, Wilmington Chamber of Commerce Chris
Green, Hotel -+150 Wilmington Anne Marie Hartman, Hotel – 150+ Wrightsville Beach Kim Hufham, President/CEO – NHC TDA Joel Macon, Mayor – Carolina Beach Bob McKoy, NH County Vacation
Rentals Mac Montgomery, Mayor – Kure Beach Chuck Pennington, County Bed and Breakfast Ronnie Pernell, Hotel – Kure Beach Avril Pinder, NHC Authority Finance Officer Jimmy Pope, Hotel
– Carolina Beach Steve Whalen, Mayor – Wrightsville Beach EXCUSED: Bill Caster, New Hanover County Commissioners Donna Moffitt – County Attraction Bill Saffo, Mayor – City of Wilmington
ABSENT: Bill Rudisill, Hotel – 150-, Wilmington STAFF: Jeanette Foster, Administrative Services Manager/Recording Secretary Lee Nettles, Vice-President of Marketing Mikie Wall, Vice-President
Sales and Services Sheila Boyd, NHC Finance GUESTS: Jules Norwood – Lumina News Board Chairman Chairman Ronnie Pernell called the meeting of the New Hanover County Tourism Development
Authority Board to order at 5:30 p.m. at the Wilmington/Cape Fear Coast CVB offices.
2 ITEM #1 – EXCUSED ABSENCES Commissioner Bill Caster, Donna Moffitt, Mayor Bill Saffo ITEM #2 – MINUTES APPROVAL – OCTOBER 28, 2008 [Motion made by Mayor Mac Montgomery, seconded by
Chuck Pennington and unanimously carried that the minutes of October 28, 2008 be approved as read.] ITEM #3 – FINANCIALS AND ROT REPORT – AVRIL PINDER Avril Pinder, New Hanover County
Authority Finance Officer, presented current financials as of October 31, 2008. She indicated the biggest issue at this time is the performance of our revenue stream. We are down 5.59%
as compared to last fiscal year; everyone can see from the trend of the economy why we are down. She went over the beaches as well. At this point, Kure Beach seems to be holding its
own while other municipalities are down somewhat. Hoping there will be a turnaround with gas prices going down. Hoping travel will see an increase. Mrs. Pinder also noted that also looking
at the expenditures for the TDA for all departments and will do forecasts on actual to make sure if if anything needs to be cut in the budget to make sure we do not overspend. Kim stated
according to the Smith Travel Report and in talking with some of the properties, it appears October (ROT figures not yet in) is a much better month than September was. [Motion made by
Scott Cromartie, seconded by Chris Green and unanimously carried to accept the financial report as presented by Avril Pinder.] ITEM #4 – PRESENTATION OF FY 2007-2008 AUDIT – KIMMIE GOODSON
Chairman Ronnie Pernell introduced Kimmie Goodson of Goodson and Taylor to present the audit for 2007-2008. Mr. Goodson stated the audit consists of four sections -Independent Auditor’s
Report which has given the TDA, d/b/a the Wilmington/Cape Fear Coast Convention & Visitors Bureau a “clean opinion” which is the highest opinion which can be given; pages two through
six contains the Management’s Discussion and Analysis giving financial highlights for 2007-2008; pages 7-21 shows Basic Financial Statements containing net assets, statement of activities,
fund fund financial statements,
3 balance sheet, statement of revenues, etc., reconciliation of the statement of revenues, expenditures, changes in fund balance, etc.. The last pages (22-24) contain the Supplementary
Financial Information which is the schedule of revenue, expenditures and changes in fund balance (budget and actual.) Kimmie Goodson gave an explanation of each of the above areas with
figures and explanations as needed and/or requested by the Board and handed out a summary information sheet so that the Board could have a quick review of the more pertinent facts from
the statements which he presented. In addition to the first 3%, the second 3% and what the beaches had spent was discussed. He noted that overall, the TDA, d/b/a the Wilmington/Cape
Fear Coast CVB had a good year. He also said the staff does an excellent job as far as the accounting records are concerned and everything is in good shape. Avril wanted to thank Sheila,
who works with the financials for the TDA for the great job she does in keeping the records straight. [Motion made by Mayor Steve Whalen, seconded by Mayor Joel Macon and unanimously
approved to accept the 2007-2008 audit as presented by Kimmie Goodson of Goodson and Taylor, CPA’s.] Avril discussed the budget amendment to appropriate additional 2nd 3% funds remaining
for Carolina, Kure and Wrightsville Beaches from 2007-2008 to go into a fund balance for FY 09 as a result of the June 30, 2008 audit totals presented to the TDA tonight. Budget amendment
has been prepared to roll that money over this evening for the beach communities promotional items and tourism activities. (Copy attached.) $927,474.95 being asked for as an amendment
to the budget minus the two months amounts which are held back or 16.67% on tourism activity and 25% on promotion. [Motion made by Scott Cromartie, seconded by Mayor Mac Montgomery to
approve the budget amendment as presented.] Following discussion, including sufficient funds and keeping a close eye on monies available to spend, Chairman Pernell asked for a vote to
approve. It It was unanimous. ITEM #5 – PRESIDEN’TS COMMENTS President/CEO Kim Hufham advised the new annual reports were ready and handed these out to the Board.
4 She also announced that we will be getting a new Courtyard by Marriott in the downtown area. She had an artist rendering with details for those who had not heard about this property.
ITEM #6– OLD AND NEW BUSINESS Chuck Pennington announced that The Verandas had received their 7th Triple A 4 Diamond award in Chapel Hill on Monday. There are only two bed and breakfasts
in Wilmington who have achieved this prestigious honor. He said that out of 58,000 properties throughout the country, less than 3.8% get this award. Kim congratulated Chuck and let him
know how proud we are of this achievement. Chairman Pernell requested that next year when the audit is done, perhaps have the Executive Committee meeting about two weeks earlier so the
reports could be sent out to the Board to review prior to the Board meeting. Mayor Montgomery advised that the Ft. Fisher Ferry would be closed beginning December 1st, 2008 through January
28, 2009 for renovations. The Aquarium is still open. Next meeting will take place on January 27, 2009. ITEM #10– CHAIRMAN’S COMMENTS – RONNIE PERNELL There being no further business,
meeting adjourned at 6:00 p.m. ______________________________ __________________________ Kim Hufham, President/CEO Ronnie Pernell, Chairman
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