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Home My WebLink About11/17/2004 - STAFF REPORTS (19) DATE: October 28, 2004 TO: City Council FROM: Director of Finance & Treasurer RE: Treasurer's Investment Report as of September 30, 2004 Attached is the Treasurer's Investment Report as of September 30, 2004. The report includes the face value and coupon rate (if applicable) of the investments and the source for the market value estimate. Also included is information on the investments of Bond Issue reserve funds, and on loan repayment programs managed by a bank. The investments, in type, maturity and as a percentage of the total portfolio, are in compliance with the existing City Council-approved investment policy with one exception: the FICO notes ($500,000, 4/16/18, 9.8%) exceed the 5 year limitation on maturities (Detail of Investments, Long Term Investments, Mortgage Pass Thru's). The investment in question was purchased prior to the adoption of the 5-year limitation. Since it appears to represent no additional risk either because of credit-worthiness or liquidity, earlier councils decided to allow it to be retained in the investment pool because the yield is higher than attainable under current market conditions. We recommend that this exception to the policy be continued. State law requires this report to be submitted within 30 days of the end of the quarter Because all of the City's bank accounts may not be completely reconciled, there may be minor adjustments to the cash on hand in the checking account and to the valuation of the bond issue's money market investments. All other amounts are actual. The weighted average maturity (WAM) of the portfolio is 375 days. The maximum WAM allowed by the Investment Policy is 1095 days. The current portfolio and expected revenue cash flow will be sufficient to meet budgeted expenditure requirements for the next six months and the foreseeable future thereafter. Submitted by. f Thomas M. Kanarr Treasurer `i �I treasrep CITY OF PALM SPRINGS 10/27/2004 TREASURER'S MONTHLY REPORT SUMMARY OF INVESTMENTS SEPTEMBER 30, 2004 On Call Deposits Adjusted Basis Category Total Percentage Checking Account $ 576,595 State Pool 27,190,000 $ 27,766,595 64.19% Short Term Investments ( I year or less) Medium Term Investments ( 1 ear to 3 ears) Corporate Notes 994,130 U.S. Gov't Agencies 7,000,000 Time Deposit 1,000,000 9,994,130 20.79% Long Term Investments U.S. Gov't Agencies 6,498,594 6,498,594 15.02% Total Invested Cash $ 43,259,319 100.00% *Some investments made prior to the implementation of the current Investment Policy exceed the 5 year limit. treasrep TREASURER'S MONTHLY REPORT :- 10/27/2 a DETAIL OF INVESTMENTS !: SEPTEMBER 30, 2004 Coupoa Yuld Adjusted (memo only) Prior Qv. Par Valae Rate Bating Mamray to Maturity Cost Basis Category Toml Market Value Source Market Value On Call Deposits Checking-Bank of America 5 N/A vanable AAA open 1.477. $ 576,395 $ $ 576,595 $ 177,281 Local Agency Invest Fuad(LAIF) 27,19 ," vanable N/A open 1.77% 27,190,000 27,190,000 LAIF 38,190,000 27,766,595 Shan Term lavcstmcnts (1 year or less) Medium Term investments (I year to 3 Years) Corpomle Nate, GE Capital Carp. 1,000,000 299% AAA 10/03/05 3.20% 994,130 1,004,7W BNY Westem Tr 1,004,9I0 U.S.Gov't Agency Securities Federal Home Loin Bank 1,000,000 2.40% N/A 02/24/06 2.40% 1,000,000 997,5W BNY Westem Tr 994,062 Federal Home Loan Mortgage Corpoadon 1,000,000 2.55% N/A 05/10/06 2.55% 1,000,000 998,291 BNY Westem Tr 993,150 Federal National Morigage Association I,",000 2.50% N/A 08/11/06 2.50% k,000,fN10 995,625 BNY Western Tr 997,812 Federal Home Loan Bank 2,000,000 3.17% N/A 08/25/06 3.17% 2,000,000 2,011,250 BNY Western Tr 0 Federal Home Lout Mortgage Corporation 1,000,000 3.06% N/A 09/15/06 3.06% 1,000,000 1,002,450 BNY Western Tr 998,520 Federal Home Loan Bank 1,000,000 3.13% - N/A 02/07/07 313% 1,000,000 1,000,937 BNY W.tr.Tr 994,687 Time Deposit Walrmgmn Mutual Bank 1,000,000 3.47% AAA 01/23/06 3.477. 1,000,000 1,000,000 Washington Mumal 1,",000 3,994,130 Long Term Inve,tmem (3 year,to 5 yeend U S Gov't Agency Securities Federal Home Loan Bank 1,",000 3.347 N/A 08/20/07 3 34% 0 0 BNY Westem Tr 992,812 Federal Farm Credit Bank 1,000,000 3.607. N/A 10/29/07 3.60% 1,000,000 999,062 BNY Westem Tr 989,M2 Federal Home Loan Mortgage Corporation 2,000,000 4.137. N/A 02MI08 4.13% 2,000,000 2,015,020 BNY Western Tr 0 Fedeml Farm Credit Bank 2,000,000 4.04% N/A 05/27/08 4.047. 2,000,000 2,021,250 BNY Westem Tr 0 Federal Farm Credit Bad, 1,00g000 3.95% N/A 10/29/08 3.85% I,000,000 1,007,187 BNY Westem Tr 991,562 Financmg Corporation(FICO) 500,000 980% N/A 04/06/18 980% 498,594 737,190 NadomeBed, 709,375 6,499,594 Toml Invested Cash $ 43,259,319 $ 43,557,107 $ 49,023,233 TREASURER'S MONTHLY REPORT `w treasrep MISCELLANEOUS AND TRUST ACCOUNTS v v, 10/27/2004 SEPTEMBER 30, 2004 Yield Adjusted Par Value Coupon Rating Maturity to Maturity Cost Basis Category Total Total Invested Cash $ 43,259,319 $ 43,259,319 $ 43,259,319 Miscellaneous Accounts Petty Cash 2,575 N/A N/A open none 2,575 Revolving Fund-Bank of America 17,474 N/A N/A open none 17,474 Trust&Agency-Bank of America 1,241,900 N/A N/A open none 1,241,900 Downpayment Assistance(Housing Fund)-Washington Mutual 33,219 variable N/A open 0.40% 33,219 Workers Compensation-Bank of America -10,743 N/A N/A open none -10,743 1,284,425 Deposits Held In Trust Time Deposits (FDIC Insured) Downey S&L(Cat Cyn Country Club) 62,204 1.14% N/A 2/11/2005 1.14% 62,204 Downey S&L(Donovan Bequest) 12,869 0.95% N/A 10/12/2004 0.95% 12,869 Downey S&L(Palmer Cable TV) 4,829 0.95% N/A 1/18/2005 0.95% 4,829 Guaranty Bank(Coyote Springs Apt) 17,181 1.59% N/A 6/24/2005 1.59% 17,181 97,083 Total Cash Deposited $ 44,640,827 o4i �� TREASURER'S MONTHLY REPORT treasrep BOND ISSUE RESERVE, DEBT SERVICE &RELATED FUNDS 10/27/04 SEPTEMBER 30, 2004 Coupon Yield Adjusted (memo only) Prior Qm Par Value Rate Rating Maturity to Maturity Cost Basis Category Total Market Value Source Market Value 1991/97/01AA Caavemim Center Cash 1 1 1 BNY Western Tr 1 AM Gvvemmevt&Agency Ponf Private 492,881 variable AAA open 1.25% 492,881 492,891 BNY Western Tr 2,716,598 AIG lnvesmana Agreement 1,280,673 536% AAA I110112 5.36% 1,280,673 1,290,673 BNY Western Tr 1,290,673 AIG lnvestment Agreement 1,290,000 668% AAA 11/01/21 6.687. 1,290,000 1,290,000 BNY Western Tr 1,290,0W AIG lavestment Agreement 4,842,000 2.41% AAA 05/01/06 2.41% 4,842,000 4,842,000 BNY Western Tr 4,842,(M MBIA Investment Agreement 3,30 ,402 5,59% AAA 11/01/35 5.58% 3,3W,402 3,30 ,402 BNY Western Tr 3,30 ,402 AIG Investment Agreement 35,668,117 185% AAA 09/30/05 1.85% 35,669,117 35,668,117 BNY Western Tr 37,064,731 46,974,074 1992 Airport Cash IW,175 IO ,175 IW ,175 BNY Wesrem Tr 0 AIM Short-Term lavesmeat Trsy P 405,317 variable AAA open 1 17% 405,317 405,317 BNY Western Tr 643,539 Bayerische lavestarom A, 1,207,600 TW% AAA 01/01/22 7W% 1,207,600 1,207.50) BNY Wesrem Tr 1,207,600 1,713,092 2001 Series B-Housing Cash 200 200 2W BNY Western Tr 182 AIM Govemment&Agency Ponf Pnvate 3,864 variable AAA open L25% 3,864 3,864 BNY Westem Tr 3,859 AIG Investment Agreement 468,105 5.22% AAA 08/01/21 5.22% 468,105 468,105 BNY Western Tr 468,105 472,169 1994/04 Series A&B Cash 19,294 19,294 19,294 BNY Western Tr 19,278 AM Government&Agency Ponf Private 2,350,985 variable AAA open 1.25% 2,350,985 2,350,985 BNY Western Tr 5,388,334 MBIA Investment Agreement 1,651,456 5.17% AAA 09/01/34 5.17% 1,651,456 1,651,456 BNY Western Tr 1,651,456 US Treasury Bin 3,032,492 1.54% AAA 12/30/2W4 1.54% 3,032,492 3,031,323 BNY Western Tr 0 7,054,227 1996 Multiple Capital Facilities Project AM Government&Agency Ponf Private 593,969 vanable AAA open 1.25% 593,969 593,969 BNY Western Tr 456 AMBAC Investment Agreement 1,730,000 6.40% AA 04/01/27 6.40% 1,730,000 1,730,000 BNY Wesrem Tr 1,730,000 2,323,969 l '4y rs=1 (t TREASURER'S MONTHLY REPORT treetop BOND ISSUE RESERVE, DEBT SERVICE&RELATED FUNDS ' 10/27/04 SEPTEMBER 30, 2004 Coupon Ycld Adjusted (memo only) Prior Qn. Par Value Ram Ratmg Maturity to Maturity Cost Bans Category Total Markec Value Source Market Value 1998 Airport GARB AIG lnvesunent Apr.-Rescrve 561,221 5.70% AAA 01/01/28 570% 561,221 561,221 BNY W.1cra Tr 561,221 AM Government&Agency Proof Private 249,368 variable AAA open L25% 249,368 249,368 BNY Westem Tr 299,056 810,589 1998 Airport PFC AIG lnvesuneat Agr -Reserve 949,728 5.70% AAA 01/01/28 5.70% 949,728 849,728 BNY Western Tr 949,728 AM Govemment&Agency Ponf Private 369,943 variable AAA open 1.25% 369,943 369,943 BNY Wesmm Tr 450,050 1,219,671 1998 Multiple Capital Wastewater AM Govemment&Agency Portf Private 356,395 variable AAA open L25% 356,395 356,395 BNY Western Tr 299,794 356,395 1998 Assessment District 155 A&B AIM Govemment&Agency Ponf Private 283,522 variable AAA open 125% 283,522 283,522 BNY Western Tr 323,939 293,522 2WI Assessment District 157/159 AM[Govemment&Agency Ponf Privare 163,847 vanable AAA open 1.25% 163,847 163,847 BNY Western Tr 163,636 163,847 2002 Parking Structure Cash 17 17 17 BNY Western Tr 17 AM Govemment&Agency Pon[Pnvate 36,699 variable AAA open 1.25% 36,699 36,699 BNY Wesmm Tr 67,569 36,716 2004 Assessment District 161 AM Govemment&Agency Portf Private 1,229,741 vanable AAA open 1257. 1,229,741 1,229,741 BNYWesmm Tr 1,628,527 1,229,741 Totals $ 62,538,012 $ fi2,536,943 S 66,249,751 treasrep TREASURER'S MONTHLY REPORT 10/27/04 CALCULATION OF INVESTMENT LIMITATIONS SEPTEMBER 30, 2004 Allowable Percentages By Maturity: Minimum Maximum Current Mo. 1 day to 365 days $8,000,000 N/A $27,766,595 1 year to 3 years 0.00% 50.00% 20.79% 3 years to 5 years 0.00% 30.00% 13.87% over 5 years N/A N/A 1.15% By Type of Investment: Bankers Acceptance - in total N/A 40,00% 0.00% Bankers Acceptance - single bank N/A 20.00% 0.00% Commercial Paper N/A 15.00% 0.00% Certificates of Deposit N/A 30.00% 2.31% Corporate Notes N/A 20.00% 2.30% Money Market Mutual Funds N/A 10.00% 0.00% U.S. Government Agencies N/A 50.00% 31.20% Mortgage Pass Thru's N/A 10.00% 0.00% 'u P I PALM SPRINGS CONVEN TION CENTER www oalmsonn scc cam D R u n c: ' u November 17, 2004 277 N Avenida Caballeros,Palm Springs CA 92262-6440 Phone(760 325-6611 Fax(760)322-6921 � 1 I �THE MEETILG OASIS P A L M S P R ING S C O N V E N T I O N C E N T E R NNJW.palmspringscc corn Table of Contents 1 ... ... ... ... ... ... ... ... ... ...Executive Summary 2... ... ... ... ... ... ... ... ... ...Marketing Schedule Grid 3... ... ... ... ... ... ... ... ... ....Advertising Summary 4... ... ... ... ... ... ... ... ... ...Pre-Opening Marketing Budget 5... ... ... ... ... ... ... ... ... ... Incentive Summary Update 277 N Avenida Caballeros,Palm Springs CA 92262-6440 Phone(760 325-6611 Fax(760)322-6921 Srfn I ��. THE MEETING OASIS P A L M S P R I N G S C O N V E N T 1 O N C E N T E R Date: November 10, 2004 To: David Ready, City Manager From: Jim Dun, Convention Center Re: Marketing Budget Update The following information is provided to give an overview of the pre-opening marketing effort that we initiated in May of 2003 to assist in the launch of the "new" convention center. A summary of the budget is included as well as an overview of the marketing and advertising that is being done. This budget has evolved since it was first presented to the City Council in March of 2003. At that time it was anticipated that there would be approximately $1 million set aside for pre-opening marketing and promotion. This amount was originally presumed to come from the expansion project finding and a contribution from SMG. In May of 2003, the City committed approximately $97,000 to begin the pre-opening marketing efforts. Later that year, SMG contributed $400,000 and the City budgeted $500,000. In the fall of 2003 the marketing finding from the project was reduced from $500,000 to $350,000 to offset other costs of the construction project. The attached budget summarizes the funds expended from May of 2003 through October 2004 as well as the remaining budget for November 2004 through June of 2005. Based on input from stakeholders, some of the funds have been set aside to help fund discounts to groups that meet certain booking criteria. These funds would reduce the amount of finding available for advertising and some other marketing efforts, but the return on the investment is clearly measurable. Thus far approximately $72,000 has been committed to groups representing more than 16,000 hotel room nights arriving in either 2006 or 2007. Thus far the total fiords expended is $380,927 and the total funds still available are $466,073. Please let me know if you require further explanation of any of this information. 277 N.Avenida Caballeros Palm Springs,California 92262-6440 I 760 322-8411 I 800 333-7535 Tor FREE 1 760 322-6921 FAX I www palmspringscuorn I s1 �raa Puny - --S:V.Es&MAItliLT1NG CALE\UAlt - -- 2004-2005 July August September October November December .January February March April May June deshaws Associatlmi •ASAE •L1EM San •NYSAE 2/3 IFA Miamt •GWSAE DC Minneapolis Antonio - 3/6-9 5/26 8114-1 r 1211-3 Holiday Sbmvcose Chicago I2/17 CaISAE Sdcm 12/❑ Corporate •MPI,Denver 7/25-27 SMERF "CESSE Miami 7/13-in Sales Calls East •NY w/CVA DC with •Hearth,217-9 •DC w/DOS CoasHDC 9114-15 HOPS 10/4-7 Chicago/ •Chicago Sports •Chicago DOS •Main 3/14- Midweat w/CVA 7/13-16 1/2114 16 Souther. •PCMA,SeCal •SoCal •SoCal MPI •San Diego •LA 3114-15 •MPI/LA California 7/28 w/CVA 9/29- LA 11118-19 2114-15 5116-17 30 rvorthCA/ .SF/Sacco Wash/Ore •Sacco 1/17-19 •Sacro 3/15-17 •Sacco 5/10- •Sacco 6/21-23 Western Sts ,DOS 9/21- II/23-24 12 22 'Advertising •Smart Meetings •Association •Medical •Meetings& •Smart •For •Alaska •Association •Execaave •Meetings Management Meetings Conventions Mecno, Magazine& Airlines Management Update West •Executive •Tradesbmv •Association Action Kit Buyer's •Essio ave •Association •Forum •Smart Update Week Ad Management •Alaska Guide Update Meetings Magazmc Meetings •Forum •Association Airlines •Ass.amton •Meetings& •Medical •Tradeshaw M'.serm Meetings •Meetlogs Management Conventions Meetings Executive •Major Ex •Executive West •Medical •Smart Hall Update Meetlogs Meetings Directory •Smart •Tmdeshtav •USAF Daily Mcctings Week •Tradeshaw Exccutive Promotions/Other •HOPS Dinner •HOPS Dinner •HOPS Site DC 1017 Sacro 2/17 PS 3/13-26 •Chicago Site ViaNPS 10/20-23 •Direct Mail 'Nev,Planner 'Direct Mail *Direct Mail Piece Kit Piece Piece `Designated as pre-opening marketing as opposed to roufine sales efforts. _' S\I,ES&Mvci�.rmc-Ca-reNn�a = - 2003-04 July Au ust Se tember Oc[aber November December Januar Februa March Aril Ma Junc Tradeshows •MPI—San •ASAE .CSAE Annual •PCMA- •NYSAE .IFA Las Vegas GWSAE— Riarc,co Hawan' .Ca1SAE Sacm Indianapolis .Detonation Springtime m the •IAEM—Las Showcase—DC Park w/CVA Vegas Sales Calls East Coast/DC .DC will[ HOPS Chicago/ .Chicago Spurs Midwest Spectacular w/CVA Southern •S.Cal w/CVA California •Orange County NorthCA/ •Texas Sales Western Sts Calls I Advertis'nc' •Trade Show •Smart •Meetings& •Smart •Forum Magazine •Execunve •Meetngs& .Meetings& .Executive Assomanon Week Major Meetings Convennons Meetings •meetings& Update C...catmn Convennons Update Meetings Ex Hall .Assonatmn Action Earl Conventions .Tradeshow Week •Smart Meedngs •Medical DirectoryManagement •Alaska •Alaska A •USAE Daily •Association Airlines mes .Aa Meetings Managaguren mcn[ Meetings •Medical •Execunve Meet., Update •Forum Promotions/Other Magaetne • ^Welcome • *ASAE • 'HOPS Dinner --'Ground .CVAFAM letter to Dinner DC Breaking ASAE announcing .*NYC Media Ceremony Fellness expansion Luncheon w/ CVA • *DCSnles •'Updated Rep Hued Tradeshow •'HOPS Brochure "Webiste Redesign Brochure Complete iDeslgnated as pre-opening marketing as opposed to routine sales efforts. \� r._ � T 14 I rie eet HIS nee 17*1Th December 2003 through February 2005 marks the exciting expansion of the Palm Springs Convention Center. As we grow,so does our commitment to provide you a state-of-the-art facility, innovative ideas and impeccable service for an exceptional muscling experience, More than 31,000 srift of meeting space and over 100,oJD sq.ft.total exhibit space. We promise it will be your favorite destination for a relaxing, rejuvenating meeting. — - — FEIlT➢ESS BRAHMIN ARCHITECTS Rolex and enjoy our authentic California desert landscape and village atmosphere at The Meeting Oasis. 1,700 full service hotel rooms are within easy walking distance. Two blocks to shopping, restaurants, entertainment, Spa Casino and nightlife in Downtown Palm Springs. Just five minutes from Palm Springs International Airport offering =' " direct jet service to major cities throughout r- the nation on Alaska, American, America West, t` Continental, Delta, Horizon Air, Dniled and others. T"` Call toll free Bog 333-7535 and request a complete media kit, P A L M S P R I N G S er write to us: 277 N. Avenida Caballeros, Palm Springs, California 92262 CO=" V � NTION padMs � rin �sc�, roIn 4 HOLIDAY SHOWCASE 2003 SPECIAL ADVERTISING SECTION L I L 7_ PALM &DRUNGS toward Palm Springs. The magnificent San j1co Nl OUll tall's are getting closer. A calm C0MVEH7:CRJ CE47ER "n begins Lo envelop YOU is ),On slow d,,,, E;$1T`ERHEHCE and rUrn down the music. You warn no "PD-7E MFLEVUH0 cilf%sise, cli,,Tractiom. YOU have come to Palm Camon Drive and it,, dearmin, downtown villa,, of EXPERUl PALM SPRINGS Palm Spl_i,,g, embraces you. Little Wonder why 71011)'WOOCIs Chic once ,,Light tire 277 N. Avenida Caballeros serenity of this exquisinc enclave now vibrant Palm Springs, CA 92262 With award-winning restaurants, unique Contact Ken Buleia Shops, and live 5 corcT rellimenr. Director of Sales and Marketing 760 322.8402 Your experience will conrioll, a[ LlIC Palm t 760.322.6921 fax Spion1p Convention Center and 1,(1oo www.palmsprinqscc.c:iur" commirralil,hercl rooms within q three-block Walk of the vilklIIc c,illioct'd ro the xa 'Whe Pallor Springs MPel Wyndham Hotel, this dynamic meeting VCOLIC provides 111 IdCql C11111CC for )'OtIr UECod CS fErna&e. who liticrallN will take over the town. YOU ire in your car leaving the sl:iess and East " pace so synonymous with Los Angeles, A mutri-milholl dollar renovation Ire is "Ot"16047"'I"'d, nge, and San Diego counties and ]leading scheduled to begin the,spring with completion slai,d for Fall 2005, A new 18,000 Square-foot lob[sS a expected to have a significant positive 20,D00-SqUare-foor halhooill, economic Impact on the communiq,," says ILI Nw, A and 340lwo SqUq11 fell Of Jim Dunn. general manager of the Palm I exhilkir space will enhance the Springs Convention Ctntlr. "We cle thrilled current suLICEUIC CoUpl.d WIdl With the Possibilities this virtually new facility a dramatic new look. will offer um client,,." This IS a World Unl[ke q11)'0tllCj deStJIjjtI1Ij r,7 Colorado's renowned Fentress L BradbUrn Alclineccs has cleat- 'd a work of III that Will E Z`K P E R 0 E 4\1 C E encompass the indigenous 67 PH E PR E E—H H Al 0 sq,le 4 Palm Springs and Its nanti a] SUMILIF11111laS. 3 LS)0 S The undulating ridgeline of the ITIOLnIcanis served as inspi- ration for the bUIldHIg'S Strong F-1)E R E E H C IR O,11ine. Inside. robust pylons R i�'�L kl/d 3 P Rd Nr G 5 and the ceiling plane Focus and frame the esniundinary view, making the MoUntain S seem even closer than they actualk are. Ism. :j Tiic refurbished I Cent" will be able I,, acc,nim,dinc 73 percent Of the meetings rhqr conic to Cilifninia, erstis 42 PeleeIll Current)}', and is As featured in Smart Meetings Magazine-April 2004 HARVEY COMMUNICATION MEASUREMENT Palm Springs Convention Center ISSUE: October 2003 I� it I . . 4 10 LOW-KEY, HIGH—STYLE "r HIDEAWAYS P.A5 .1 A TOAST TO VINEYARD VENUES,. SECURITY ADVICE ,. •, ale FROM INSURANCE ay PLANNERS ��` '�y�`t n.G3 ..BaYY�if�Ye Scot[ kf�laent of vel 9$and entives. Travel agencies are aggressively ' pursuing — and winning — group businessP.52 AWERrA P.121 of RORiDA'S WEST COAST P 85 a NEVADA P.101 a NEW ENGI-AND P 90 a SAN DIEGO P.11 � I Y 1 MEETING$ DA ,,'CONVENTIONS Lf o. • O ISSUE. OCTOBER 2003 — READERS'COMMENTS H PALM SPRINGS CONVENTION CENTER The following are verbatim comments of respondents when asked the question: "What thoughts or impressions did you get when you first read this ad? What ideas did you get about the facility,destination,product or service advertised?" "They are emphasizing size to show availability. I would consider using them because of location and availability of space and beautiful location." ♦ Director of Sales Meeting Planners • "I like that they give the floor plan. Immediately, you can see if it might work for you. It is a beautiful setting and very popular." ♦ Vice President Insurance Company "We have scheduled shows in California, but haven't attended Palm Springs Convention Center. It's a spacious center and possibly of use in the future." ♦ Event Coordinator Real Estate Promoters "They seem to be trying to accommodate larger size meetings. Having the Wyndham Hotel nearby is very convenient." ♦ President Office Furniture Manufacturer 3 M EETINGS.20,000NV E NTIONS 0 ISSUE: OCTOBER 2003 =- READERS'COMMENTS PALM SPRINGS CONVENTION CENTER "Nice information for the planner. There is lots of very specific information that you don't have to hunt and peck for." ♦ President Travel Website i "This is a great, informative ad. It's just the kind of thing that meeting planners like to stick into their files. It's very good and helpful." ♦ Marketing Coordinator Environmental Services "Another ad designed just for me. We have used this facility in the past and the place and people are wonderful. I'm glad they are growing." ♦ Trade Show Coordinator Computer Reseller "I'm not interested in Palm Springs really. It is not necessarily a national convention center. It's more localized to this area." ♦ President Corporate Entertainment Consultant 3b Palm Springs Coention Center • Pre-opening Marketing Expenditures Fiscal Year Category Data FY 2002-2003 1 FY 2003-2004 FY 2004-2005 Grand Total Advertising Total Spent 97,097 60,201 157,298 Total Available 107,149 Convention Sales Office Total Spent 61,055 27,429 88,484 Total Available 36,526 Preopening Events Total Spent 25,824 2,798 28,623 Total Available 186,314 Professional Services Total Spent 10,246 44,719 8,955 63,920 Total Available 14,508 Public Relations Total Spent 246 14,098 904 15,247 Total Available 203 Sales Collateral Total Spent 253 6,985 1,215 8,454 Total Available 44,718 Direct Mail Total Spent Total Available 15,000 Tradeshows Total Spent Total Available 8,500 Website Revision Total Spent 4,000 16,000 1,594 21,594 Total Available 3,606 Contingency / Popup Total Spent Total Available 46,856 Total Total Spent 14,745 265,778 103,096 383,620 Total Total Available 463,380 Printed 11/15/2004 10:56 AM F:\USERS\ACCT\PreOpening Marketing Expense Ledger.xls:Spent vs Available w Graph Proeopening Marketing Budget Thousands 300 250 i 200 i 150 ❑Total Available 100 ❑ FY 2004-2005 ❑ FY 2003-2004 50 ❑ FY 2002-2003 �`�00 � oRO ° r cp Oe e � .0" o pep G o.��e c� o G I Convention Group Incentive Program Recap As of 11/10/04 Incentive Offered Group Meeting Decision Peak Total PSCC Incentive Value Status Name Dates Date Room Room Rental Offered Nights Nights Non- Profit Rate 1 Assn. for Jan. 19- 11/04 1,200 4,700 31,000 $15,000 $1.8 Mil. Board Laboratory 26, 2006 + hotel Approved Automation rebate of Contract $3 for sent Taste of 11/8/04 PS 2 Assn. for Jan. 22- 11/04 1,200 4,700 31,000 $15,000 $1.8 Mil. Board Laboratory 29, 2007 +hotel Approved Automation rebate of Contract $3 for sent Taste of 11/8/04 PS 3 Society for Jan. 26- 10/04 575 2,010 17,050 $17,050 $974K Board Personality 29, 2006 Approved & Social Contract Psychology sent 11/5/04 4 IBM TIO, T12/04725 T2,17515,508 $10,000 $].2 Mil. Accepted, awaiting signed 5 Christian contract $15,000 $867K Accepted, Manageme +hotel moving to Association rebate of contract. $7 Wrap up by Sub-Total 12/13/04 4,300 16! $72,050 $6.6 Mil. Offers Sent Incentive Recommended 6 National April 1/05 800 3,840 35,285 $15,000 $1.8 Mil. Incentive Osteoporosis 17-21, Plan on Foundation 2007 hold $1 Subtotal 800 33840 5,000 $1.8 Mil. On Hold Totals 800 3,840 $15,000