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N <br />CONSENT AGENDA <br />INDIAN RIVER COUNTY <br />INTER -OFFICE MEMORANDUM <br />OFFICE OF MANAGEMENT & BUDGET <br />TO: Members of the Board of County Commissioners <br />DATE: May 23, 2024 <br />THROUGH: John A. Titkanich Jr., County Administrator <br />FROM: Kristin Daniels, Director, Office of Management & Budget <br />SUBJECT: Tourist Development Council 2024/2025 Budget Recommendations <br />DESCRIPTION AND CONDITIONS <br />On May 22, 2024, the Tourist Development Council (TDC) reviewed budget requests for fiscal <br />year 2024/2025 to be paid from Tourist Tax revenues. The budget requests are listed in the table <br />below. File copies of the applications for each agency are available in the Budget Office for <br />review. <br />Table 1 <br />TOURIST DEVELOPMENT COUNCIL AGENCY REQUESTS <br />Fiscal Year 2024/2025 Funding Applications <br />Organization <br />2023/2024 <br />Funding <br />2024/2025 <br />Request <br />Increase <br />Decrease <br />% Increase <br />Decrease <br />Indian River County Chamber <br />of Commerce <br />$932,170 <br />$926,748 <br />$5,422 <br />-0.6% <br />Sebastian River Area Chamber <br />of Commerce <br />$212,530 <br />$252,143 <br />$39,613 <br />18.6% <br />Cultural Council <br />$65,000 <br />$70,000 <br />$5,000 <br />7.7% <br />Historical Society <br />$32,000 <br />$50,000 <br />$18,000 <br />56.3% <br />Treasure Coast Sports <br />Commission <br />$280,000 <br />$280,000 <br />$0 <br />0.0% <br />Vero Heritage <br />$34,000 <br />$30,600 <br />$3,400 <br />-10.0% <br />Coastal Connections <br />$15,000 <br />$16,000 <br />$1,000 <br />6.7% <br />Sub Total <br />$1,570,700 <br />$1,625,491 <br />$54,791 <br />3.5% <br />Reserve for Contingency <br />$108,081 <br />1 $128,081 <br />1 $20,000 <br />18.5% <br />Grand Total <br />$1,678,781 <br />1 $1,753,572 <br />1 $74,791 <br />4.5% <br />64 <br />