The Eureka Springs City Advertising and Promotion Commission finalized and approved the 2020 budget at the Nov. 13 meeting, a total budget of $1,592,500 which has grown almost $88,000 since 2018. This indicates an estimated growth of tourism tax revenue and other income of 5.8 percent in two years, or a 2.9 percent annual average.
This 2.9 percent growth rate is right on par when compared to the State of Arkansas Department of Finance and Administration Sales and Use Tax Section for Tourism Tax Collections reporting an annual growth rate of 3.3 percent for calendar year 2017 to 2018.
Arkansas has shown a gradual but constant growth in tourism tax revenue for the last 10 years and can be used as a comparative for local tourism tax revenue for organizations such as the CAPC whose tourism tax is generated exclusively from local lodging and restaurants. Specifically, for the CAPC budget year of 2020 the majority of funds will be spent on media advertising which is 43 percent of the budget, or $685,364.
Salaries and administration costs are the next highest budget item at 23 percent or $369,136. Special events come in at the third highest budget line item at 18 percent or $287,000 which includes $20,000 for Christmas decorations, $225,000 for special event programming, and $42,000 for the event coordinator.
A full copy of the CAPC 2020 budget can be reviewed by the public by sending an email to CAPC Finance Director, rick@capcmail.com.