tow contract proposal - draft - Town of Ocean City
tow contract proposal - draft - Town of Ocean City
tow contract proposal - draft - Town of Ocean City
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WINTERFEST OF LIGHTS<br />
3 Year Comparison <strong>of</strong> Costs, Revenues & Economic Impact<br />
FY 2008 FY 2009 FY2010<br />
EXPENSE<br />
Parks Labor at NSP (w/o benefits) $126,754.00 $131,682.00 $123,531.00<br />
Special Events Operations <strong>of</strong> Winterfest at NSP $331,394.00 $360,248.00 $322,320.00<br />
Total Operational & Labor Costs at NSP $458,148.00 $491,930.00 $445,851.00<br />
REVENUE<br />
Winterfest Revenue at NSP $368,688.00 $339,893.00 $330,870.00<br />
NET GAIN (LOSS) ($89,460.00) ($152,037.00) ($114,981.00)<br />
ECONOMIC IMPACT ON LOCAL ECOMONY* $760,525.00 $816,603.00 $740,120.00<br />
OTHER RELATED EXPENSE<br />
Public Works labor to decorate <strong>tow</strong>n and support Winterfest ** $58,803.00 $54,583.00 $46,033.00<br />
Note: FY 2009-2010 based on year to date<br />
* The Winterfest Economic Impact Study conducted by Texas A&M University in 2000 concludes that for every $1.00 spent by<br />
the <strong>Town</strong>, $1.66 in economic impact was created in personal income.<br />
** Staff estimated $10,000 <strong>of</strong> Public Works labor attributable to work done in support <strong>of</strong> Winterfest at NSP
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