Annual Report FY24-FY25

PTDD BUDGET

The initial year (FY24) of the Portland Tourism Development District (PTDD) was only a ½ year. Funds from this initial assessment were not received from the City of Portland until late June 2024, just days before the close of the fiscal year. As a result, there was not enough time to allocate and spend the funds within FY24. In alignment with the best financial practices, the remaining funds were rolled over and incorporated into the FY25 PTDD budget to ensure responsible and strategic use.

REVENUE

BUDGETED

PTDD Assessment Revenues - FY 24 (1/2 year)

$710,474.36 $1,432,051.97

PTDD Assessment Revenues - FY 25

Subtotal

$2,142,526.33

EXPENSES

FORMATION PAYBACK (ONE-TIME) Formation Payback to Visit Portland (One-time)

VISIT PORTLAND ADMINISTRATION FY 24 Admin to Visit Portland (50% of the 20%) FY 25 (PTDD) Admin to Visit Portland (20%)

$284,532.14

$71,047.00

Subtotal

$284,532.14

$286,410.39

CITY OF PORTLAND ADMINISTRATION FY24 Admin to the City of Portland (10%) $71,047.00 FY25 Admin to the City of Portland (10%) $143,205.20 Subtotal $214,252.20

Subtotal

$357,457.39

ACCOUNTING + REPORTING Accounting Fees for FY24

$12,838.95 $29,515.00 $5,525.00 $2,000.00 $4,295.20 $54,174.15

Accounting Fees for FY25

CRM Licenses Annual Report

Legal Fees for FY26 Renewal

Subtotal

144