SUBJECT
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Approve seven Florida Sports Foundation Grant Agreements and Transfer from Reserves. ($166,000 estimated grant revenue over seven events, one-time reserve transfer $106,000)
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DESCRIPTION
Polk County Tourism and Sports Marketing (PCTSM) recruits, partners, and manages special events to enhance the economic climate of Polk County. The attached agreements secure an estimated $166,000 in grants for PCTSM from the Florida Sports Foundation, related to the following events.
|
Event |
Grant Approved: |
|
Ironman 70.3 Florida |
$ 10,000.00 |
|
Senior Softball USA Tournament of Champions |
$ 9,000.00 |
|
RussMatt Collegiate Invitational |
$ 80,000.00 |
|
THE Spring Games |
$ 24,000.00 |
|
Homeschool World Series |
$ 7,000.00 |
|
USYS Boys Regionals |
$ 25,000.00 |
|
YBOA Boys/Girls Nationals |
$ 11,000.00 |
|
Total: |
$ 166,000.00 |
The adopted budget for FY2023/2024 included $60,000 in PCTSM expected grant funds, leaving a budget shortfall of $106,000. A transfer from the Special Revenue Grant Fund contingencies reserves is requested to appropriately budget for the seven grants that were received.
RECOMMENDATION
Request Board approve the seven Florida Sports Foundation Grant Agreements and the $106,000 transfer from reserves.
FISCAL IMPACT
PCTSM budgeted $60,000 in Grant Revenue for 2023/2024 Fiscal Year from the Florida Sports Foundation. Upon approval of the requested transfer, the remaining $106,000 will be appropriated within the Special Revenue Grant Fund.
CONTACT INFORMATION
Neal Duncan
Senior Sales & Events Manager
Tourism & Sports Marketing
863-344-2313
Neal@vcfsports.com