The Las Vegas Convention and Visitors Authority’s overall revenues are expected to rise in fiscal 2014.
The convention authority’s revenue comes from a mix of room tax, facility use fees, registration services and business center fees.
Specifically, the travel authority’s room tax revenue is expected to rise 1 percent from fiscal 2013’s $210 million budget total to $213 million in fiscal 2014.
The highest increase comes from facility use fees, which are expected to be up 21 percent to $47.5 million from fiscal 2013’s $39.1 million budgeted total.
Rana Lacer, vice president of finance for the travel authority, presented the numbers to the authority’s board of directors Tuesday morning. Fiscal 2014 begins July 1 for the travel board.
“When we develop the budget, we always make sure we use responsible fiscal practices,” Lacer said.
Total operating fund revenues for the proposed fiscal 2014 budget are $279.9 million, 3.1 percent less than fiscal 2013’s total sources of $288.9 million.
Individual sources are expected to be up, but the fund’s opening balance is 63 percent lower than fiscal 2013’s opening balance, thus dropping the overall total.
Expenses also are down for fiscal 2014, to $270 million from 2013’s $276 million total.
The largest chunk of expenses is slated for services and supplies, with $129.7 million budgeted. The largest part of that, $92.1 million, is earmarked for advertising.
Fiscal 2013’s services and supplies budget was $128.5 million, making 2014’s more than $1 million higher.
Total salaries and wages for fiscal 2014 amount to $35.1 million, with the largest portion of that coming out of the operations division, which has $18.7 million budgeted.
A total of $13.7 million in benefits is budgeted.
Last year, the budget for salaries and wages was $34.4 million.
The fiscal 2014 budget has $7.5 million reserved to fund Las Vegas Events, up 4 percent from fiscal 2013’s $7.2 million cost.
The general fund’s ending balance is $9.59 million.
As of June 30, the convention authority will have $596 million in outstanding debt.
Before the final budget is approved, a public hearing is scheduled for May 16, during which the public is invited to comment to the travel authority and its board of directors.
Contact reporter Laura Carroll at email@example.com or 702-380-4588. Follow @lscvegas on Twitter.