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IV. BUDGET AND SERVICES A. Annual Service Plan Assessment funds will be spent to provide specific benefits conferred or privileges granted directly to the assessed lodging businesses. These specific benefits or privileges granted to assessed lodging businesses are not provided to non -assessed businesses and do not exceed the reasonable cost to the City of conferring the specific benefits or granting the privileges. The privileges and services provided with the SATMD funds are sales and marketing programs available only to assessed businesses. A service plan budget has been developed to deliver services that benefit the assessed businesses. A detailed annual budget will be developed and approved by TSA. The table below illustrates the initial annual budget allocations. The total initial budget is $2,400,000. Contingency/R $192,000.00 Administration, $480,000.00 , 201, Initial Annual Budget - $2,400,000 City Fee, <aR nnn nn ��u & Marketing, 580,000.00 , 70% Although actual revenues will fluctuate due to market conditions, the proportional allocations of the budget shall remain the same. However, the City and the TSA board shall have the authority to adjust budget allocations between the categories by no more than fifteen percent (15%) of the total budget per year. For example, the City and TSA may fluctuate the SATMD's budget allocation for the Sales and Marketing category from its current seventy percent (70%) to a maximum budget allocation of eighty-five percent (85%) or down to a minimum budget allocation of fifty-five percent (55%). A description of the proposed improvements and activities for the initial year of operation is below. The same activities are proposed for subsequent years. In the event of a legal challenge against the SATMD, any and all assessment funds may be used for the costs of defending the SATMD. In the first year of operation, the costs of creating the SATMD may be repaid by deducting repayment funds proportionally from budget categories. Each budget category includes all costs related to providing that service, in accordance with Generally Accepted Accounting Procedures (GAAP). For example, the sales and marketing budget includes the cost of staff time dedicated to overseeing and implementing the sales and marketing program. Staff time dedicated purely to administrative tasks is allocated to the administrative portion of the budget. The costs of an individual staff member may be allocated to multiple budget categories, as appropriate. SATMD Management District Plan March 19, 2020 12A-15