The Feb. 13 CAPC financial report presented by the Finance Director Rick Bright showed December tax collections, remitted in January, were dismal. Restaurants were down 14.8%, hotels were down 25.9%, motels down 27%, Bed/Breakfasts down 25.9%, and cabins/cottages down 15.4%. Total collections for 2019 are down 18%.
Executive Director Mike Maloney said that although December brought relatively good weather, weather forecasts indicated worse weather and that did not help tourism. Bright also stated that four large collectors have not remitted collected CAPC taxes.
In regard to the CAPC profit & loss for previous year comparison, January 2019 was at a $97,910 loss, and January 2018 was at a $54,833 loss. The cash balance as of January 31, 2019 was $583,935.
Maloney gave an informal staff report, telling the commission that Arkansas.com was live Feb. 7 featuring Eureka Springs on the cover. Also, Maloney hired Tracy Johnson as an independent contract Events Coordinator who is estimated to work about 25 hours per week. Johnson also works for another local business, and commissioner Susan Harman asked if there would be a conflict of interest, to which Maloney responded that Johnson is on 90-day probation with an annual contract. She will be involved at least with festivals, Music in the Park, the Auditorium and Arts Council.
Event funding support was next, with Jay Wilks, director of Out In Eureka, submitting a request for the Spring Diversity Weekend April 5, 6, and 7. Maloney stated this event has been a success in the past and brings in an estimated $120,000 in lodging and $108,000 in food/drink income for a generated $6,840 CAPC tax. Commissioners approved $5,000 for the event.