CORBIN —
By Jeff Noble / Staff writer
The Corbin Tourism and Convention Commission’s budget for the upcoming fiscal year will show a deficit of $72,000. But cash reserves of over $330,000 will offset that loss, according to officials. With that, the new budget was later approved by board members at their regular monthly meeting, held Monday at the Tourism Commission offices on Depot Street.
The budget for Fiscal Year 2012 takes effect on July 1 and runs through June 30, 2013. A copy of the Tourism Commission’s budget was also forwarded to the Corbin City Commission and the Whitley County Fiscal Court.
For FY 2012, total income coming into the Tourism Board is budgeted at $1,150,000. Of that total, the bulk of the income is from the City of Corbin’s restaurant tax, pegged at $1,020,000. Tourism tax income comes in at $100,000, followed by $25,000 in matching funds income and $5,000 in rental income from the commission’s rental of their Community Room.
Total expenses were budgeted at $1,222,100. Of that total, operation funding expenses for The Arena was the biggest spender, listed at $790,000. Event sponsorship was the second highest expense, with $235,250 listed for 19 events and sponsorships. The highest of that list was $80,000 allocated to the Friends of Colonel Sanders for work on Sanders Park at the corner of Main and Monroe streets in downtown Corbin. Total payroll expenses, including wages, workers’ compensation and fringe benefits, were listed at $51,250. Among other expenses listed were $40,000 allocated for the Tourism Director budget, $12,500 for professional services and $10,000 for travel, conferences and lodging.
“That’s a planned deficit. The commission is taking cash reserves this year to fund several of those projects for FY 2012. The commission is reporting at the end of May 2012 cash reserves of $336,720. We’re not sure where June will end, but the cash reserves will be more than adequate to cover the deficit,” said Kyle Perkins, a certified public accountant who works with the Tourism Commission.
Perkins told board members earlier in the session that this year’s budget (for Fiscal Year 2011) is now running in the black, thanks to a check delivered to the board by interim City Manager Marlon Sams. The money came from collections from the city’s restaurant tax.
“That check was for this fiscal year. Once we applied that to the collections for the 2011 Fiscal Year, that will put us into a $30,000 surplus. We’re on target,” Perkins said.
Thanks to action taken last month by the Tourism Commission, the Friends of Colonel Sanders will get help with their downtown park, and thanks to their approval Monday, they will present the check to the group at the Tourism Board’s next meeting on July 9. Tentative plans are to meet first at the board’s offices and, weather permitting, walk to the park site a couple of blocks away.
Perkins said the amount approved is for the development of the park, and that the Friends of Colonel Sanders would put together all administrative presentations for the park.
“I really appreciate your participation on this project. We will move full speed ahead to get the infrastructure completed,” Suzie Razmus with the Sanders group told board members, after Board Chairman Sudhir Patel personally invited her to the check presentation next month.
Later, Razmus said the help and funding for the park was a welcome gift for what she said was “a long journey.”
“It’s been a long, slow process to get this far, but I knew that from the beginning. I think the timing is going to be perfect for this to be coming together,” she noted after the meeting.
Main Street Corbin Director Andy Salmons updated the board on previous events his organization sponsored, including the second Moonbow Nights event held earlier this month. He also discussed their Block Party celebration on July 3, which will feature activities downtown and fireworks on the hill where The Arena is located.
“We’ll have food, crafts and various vendors, radio remote broadcasts, music by the Tidal Wave Band, and an ‘American Idol’-type competition. The downtown Block Party will go on from 4-9 p.m., with the fireworks taking place on the hill around 9:30 that night,” said Salmons.
Salmons requested a donation from the Tourism Commission of $750 to pay for getting a sound system. That was in addition to an earlier request of $1,000 for the event, which would make the total funding at $1,750. The request was approved, with the money coming from the $15,000 allocated to Main Street Corbin in the new budget for Fiscal Year 2012-13.
During the session, Corbin Mayor Willard McBurney stopped by and addressed board members about the city’s new sign making machine, which is being shared with the City of Corbin and Main Street Corbin. The sign was paid for by funds provided to Main Street Corbin by the Tourism Commission.
“Thank you for giving us the $17,000 for the sign machine. I do appreciate you all working with Main Street. It all goes hand-in-hand. We’re looking forward to it,” said McBurney.
Also present at the meeting was Corbin’s interim City Manager Marlon Sams, who assumed his new role late last month.