TDC Board Book May 2024

Palm Beach County

Tourist Development Council Board Book

May 9, 2024

Table of Contents

1. TDC Baord Meeting Attandance 05.09.2024

2. TDC Board Agenda 05.09.2024

3. TDC Board Meeting Minutes 04.11.2024

4. CONSENT ITEMS

4.A. DTPB Activity Report

4.B. Cultural Council Activity Report

4.C. Sports Commission Activity Report

4.D. Film & TV Monthly Newsletter

4.E. Film & TV Production Report

4.F. Convention Center Income Statement & Financial Operations Analysis Compared to Budget & Prior Year

4.G. Convention Center Marketing Update

4.H. Convention Center Pace Revenue Report

4.I. ERM Project Status Report

4.J. PBI Traffic Report

4.K. Contract Tracking Report

4.L. Agencies Quarterly Reports 12.31.23

4.M. Marketing Agencies And Convention Center Diversity Reports 2024

4.N. Semi-Annual Performance Measures 12.31.23

5. OLD BUSINESS

5.A. - 1. TDC Dashboard Current Month & FY2024

5.A. - 1.a. Bed Tax Collections

5.B. 1st and 4th Cent Overview

6. NEW BUSINESS

6.A. FY2023 TDC Audit Reports

6.B. - 1. The Transparent Media Partners, LLC Contract

(Seat)

(1)Mayor Maria Sachs, Chair (1/14/21)

(4) Jim Bronstien, Vice Chair(9/30/26) Appt(3/1/95) ReApp(9/18/18) Dis.3

(2)Joseph Fisher Appt(9/30/25)Dist. 1

(3) Jim Mostad (9/30/20) Appt (10/16/19), Dis. 2, St 3

(5)Daniel Hostettler(0930/23) Appt (05/18/21). Dis 4.

(6)Commissioner Adam Frankel (9/30/24) Appt (03/08/22)[Dis.5]

(7)Don Dufresne (9/30/23) Apt(6/5/12) ReAp(5/3/16)&(8/20/19) Dis6

(8) Davicka N. Thompson (9/30/2024) Appt(12/6/16)RdAppt(8/25/20) [Dis.7]

(9) Commissioner Christina Lambert Appt (10/01/22)- (9/30/26) At-Large

STAFF

Isami Ayala Collazo, Assistant County Administrator

Liz Herman, Assistant County Attorney

Dave Lawrence, Culture

George Linley, Sports

Michelle Hillery, Film & TV

Milton Segarra, Discover

Deborah Drum, ERM

Dave Anderson, PBCCC

Kathy Griffin, PBCCC

Emanuel Perry, TDC

Joan Hutchinson, TDC

Vannette Youyoute, TDC

NA- Does not count towards attendance.

TOURIST DEVELOPMENT COUNCIL

Thursday, May 9, 2024 – 9:00 A.M.

2195 Southern Boulevard

West Palm Beach, Florida 33406 AGENDA

MOTION TO RECEIVE AND FILE CONSENT ITEMS FOR MAY 2024*

MARKETING AGENCIES REPORTING

A. DTPB ACTIVITY REPORT*

B. CULTURAL COUNCIL ACTIVITY REPORTS*

C. SPORTS COMMISSION ACTIVITY REPORT*

D. FILM & TV MONTHLY NEWSLETTER*

E. FILM & TV PRODUCTION REPORT*

PBC CONVENTION CENTER OPERATING REPORTS

F. CONVENTION CENTER INCOME STATEMENT & FINANCIAL OPERATIONS ANALYSIS COMPARED TO BUDGET & PRIOR YEAR*

G. CONVENTION CENTER MARKETING UPDATE*

H. CONVENTION CENTER “PACE” REVENUE REPORT*

OTHER TDC-SUPPORTED AGENCY/DEPARTMENT REPORTS

I. ERM PROJECT STATUS REPORT*

J. PBI TRAFFIC REPORT*

K. CONTRACT TRACKING REPORT*

L. AGENCIES QUARTERLY REPORTS 12.31.2023*

M. MARKETING AGENCIES & CONVENTION CENTER DIVERSITY REPORT 2024*

N. SEMI-ANNUAL PERFORMANCE MEASURES 03.31.2024*

5. OLD BUSINESS – DISCUSSION ITEMS

A. TDC TOURISM PERFORMANCE METRICS

1. TDC DASHBOARD CURRENT MONTH & FY2024* - Emanuel Perry a. Bed Tax Collections*

B. 1st & 4th CENT OVERVIEW* – Emanuel Perry

C. TOURISM MASTER PLAN UPDATE – Emanuel Perry

D. PBI UPDATE – Nichole Hughes

6. NEW BUSINESS – DISCUSSION ITEMS

A. MOTION TO APPROVE THE FY2023 TDC AUDIT REPORTS* - Emanuel Perry & David Zamora

B. DISCOVER THE PALM BEACHES

1. Motion To Approve The Transparent Media Partners, LLC Contract for $663,075* -– Milton Segarra/Bryan Glynn

2. Update – Milton Segarra

C. ERM

1. Update – Deb Drum

D. CULTURAL COUNCIL

1. Update – Dave Lawrence

E. SPORTS COMMISSION

1. Update – George Linley

F. FILM & TV

1. Update – Michelle Hillery

G. CONVENTION CENTER

1. OVG Venue Management

a. Update - Dave Anderson

2. OVG Hospitality

b. Update - Kathy Griffin

The next Meeting will be on June 13, 2024. *Attachment included.

TOURIST DEVELOPMENT COUNCIL

Thursday, April 11, 2024 – 9:00 A.M.

MINUTES

1. ROLL CALL*

Present

Mayor Maria Sachs

Jim Bronstien

Jim Mostad

Commissioner Adam Frankel

Don Dufresne

Staff

Absent

Joseph Fisher

Daniel Hostettler

Davicka Thompson

Commissioner Christina Lambert

Isamí C. Ayala Collazo, Assistant County Administrator

Liz Herman, Assistant County Attorney

Emanuel Perry, TDC

Joan Hutchinson, TDC

Vannette Youyoute, TDC

Patricia Ramirez, TDC

Lauren Perry, Cultural Council

Geoge Linley, Sports Commission

Michael Zeff, Sports Commission

David Fontanarosa, Sports Commission

James Taylor, Sports Commission

Michelle Hillery, Film & TV Commission

Alberto Jordat, Film & TV Commission

Milton Segarra, DTPB

Bryan Glynn, DTPB

Erika Constantine, DTPB

Evan Lomrantz, DTPB

Sergio Piedra, DTPB

Gustav Weibull, DTPB

Deb Drum, ERM

Mat Mitchell, ERM

Dave Anderson, Convention Center/Spectra Venue Management

Katherine Griffin, Convention Center/Spectra Hospitality

Nicole Hughes, Airports

Andrew Gamboa, Airports

Paul Connell, Parks & Recs

Other

Derrick Steinour, Hilton WPB

Chris Inman, Hilton WPB

2. MOTION TO APPROVE AGENDA ADDITIONS AND DELETIONS*

Motion to approve the April 2024 Agenda was made by Jim Bronstien and seconded by Commissioner Adam Frankel. Motion carried 5-0 with Joseph Fisher, Daniel Hostettler, Davicka Thompson, and Commissioner Christina Lambert absent.

3. MOTION TO APPROVE MARCH 14TH TDC MEETING MINUTES*

Motion to approve the March 2024 TDC Meeting Minutes was made by Commissioner Adam Frankel and seconded by Jim Mostad. Motion carried 5-0 with Joseph Fisher, Daniel Hostettler, Davicka Thompson, and Commissioner Christina Lambert absent.

4. MOTION TO RECEIVE AND FILE CONSENT ITEMS FOR APRIL 2024*

MARKETING AGENCIES REPORTING

A. DTPB ACTIVITY REPORT*

B. CULTURAL COUNCIL ACTIVITY REPORTS*

C. SPORTS COMMISSION ACTIVITY REPORT*

D. FILM & TV MONTHLY NEWSLETTER*

E. FILM & TV PRODUCTION REPORT*

PBC CONVENTION CENTER OPERATING REPORTS

F. CONVENTION CENTER INCOME STATEMENT & FINANCIAL OPERATIONS ANALYSIS COMPARED TO BUDGET & PRIOR YEAR*

G. CONVENTION CENTER MARKETING UPDATE*

H. CONVENTION CENTER “PACE” REVENUE REPORT*

OTHER TDC-SUPPORTED AGENCY/DEPARTMENT REPORTS

I. ERM PROJECT STATUS REPORT*

J. PBI TRAFFIC REPORT*

K. CONTRACT TRACKING REPORT*

Motion to receive and file the Consent Items for April 2024 was made by Commissioner Adam Frankel and seconded by Don Dufresne. Motion carried 5-0 with Joseph Fisher, Daniel Hostettler, Davicka Thompson, and Commissioner Christina Lambert absent.

5. OLD BUSINESS – DISCUSSION ITEMS

A. TDC TOURISM PERFORMANCE METRICS

1. TDC DASHBOARD CURRENT MONTH & FY2024* - Emanuel Perry

a. Bed Tax Collections*

Perry

Bed Tax Collection – February 2024 collected in March was $11.6M compared to the same month last year at $11.2M, a 4% increase. Actual February was 18% above budget and 30% above the prior month at $8.9M. Actual February was 17% higher than in 2022. Revenue from non-hotels continues to support bed tax collection.

FYTD24 Collections at $44M, were lower than last fiscal year to date at $44.5M by (1%). FYT collections are 2% above the Approved Budget and 14% higher than 2022 collections

The Rooms sold for February were 452,372, 3% higher than last year. Rooms available for February at 556,423 are 5% higher than last year. Hotel Rooms Active today in the County, 19,187

Occupancy for February 2024 was 81.3%, (2%) lower than last year. Occupancy for February 2023 was 83.1%. February 2022 was 81.3%. The average daily rate for February was $363.53, (1%) lower than last year, and 1% above 2022. The Revenue/Available Room for February 2024 was $295.50 lower than the prior February (3%)

Hotel room net sales FY24 year over year February increased (3%) to $159M compared to $154M. Non-hotel room sales FY24 year over year February increased 17% at $35M compared to $30M. Hotel room net sales FYTD 2024 decreased (2%) from $602M compared to $614M Non-hotel room sales FYTD 2024 increased 19% at $144M compared to $121M. FYTD 2024 Taxable Revenues Fiscal Year over FY2023 increased 2% at $746M compared to $735M. FYTD 2024 Taxable Revenues Fiscal Year over FY2022 increased 17% at $746M compared to $637M.

Airport passengers for February 2024 were 779,967. 12% higher than in February 2023, and the Total Estimated Seat Capacity at 18% higher than last February 2023 with 978,286 seats. PBI Passenger 12-month rolling is a 14% increase at 7,891,396 over last year.

Leisure & Hospitality Employment for February, 96,900, decreased (0.3%) over the same month last year. Accommodation employment (3%) is lower than last year at 11,500 employees. F&B was up 1% at 63,200 employees. Arts & Entertainment employment is (4%) lower than last year at 22,200 employees.

B. PBI UPDATE – Nichole Hughes/Andrew Gamboa

For December 2023, we had 771,420 total passengers with a seat capacity of over 1.014M seats.

We had 6,150 air carrier ops with 10,600 general aviation operations. The total operations were just 16,761 compared to December 2022 a decrease of (2.7%) For January 2024 we had 744,000 total passengers with a seat capacity of 1,027,000. 6,176 air carrier operations with 11,216 general aviation operations. For a total of 17,392 compared to January 2023, it is a decrease of (3%) in total operations. In February 2023, we had 694,000 total passengers. In February of 2024, we had 780,000 passengers, an increase of 12.3%.

Seat capacity for February 2023, we had 831,920. For 2024 we had 978,386, an increase of 17%. For air carrier operations in 2023, we had 5,208. In 2024 so far, we have 6,110 an increase of 17%. General aviation traffic is still decreasing In 2023, we had 12,381, and in 2024, we had 11,867, a decrease of (4.2%).

Gamboa

Our total operations were up in 2023 with 17,589. In February 2024 17,977. We had another record for PBI for the last 12 months with 8M passengers for the first time in our airport's history.

American Airlines is part of and continues with the growth of our passengers and has extended our service to Chicago almost year-round, it is only doing a month pause. It will be extended throughout the summer until September 3rd, 2024, and then it will resume in October 2024.

It is also increasing our flights to Charlotte throughout the whole summer from four to five daily. Delta is now offering up to 12 daily flights to Atlanta on peak days. That is a number that we have not seen Silver Airways just began offering flights to Tampa, Tallahassee, Pensacola, and the Bahamas.

Frontier will begin non-stop service to San Juan, Puerto Rico on June 2nd. For March, we had a five-weekly flight to St. Louis, Missouri with Southwest. Yesterday we had our first two flights to Augusta, Georgia for the Masters golf tournament operated with Delta.

Mayor Sachs

How do we monitor the flights that arrive for our events?

Gamboa

The only way that we have been able to track this is when you go on Delta's website and look at the agenda. You can see a seat map of what seats are available and you can see what seats have been filled. However, we will not get a specific percentage number until Delta uploads that information to the USDOT.

Dufresne

On the general aviation, was that down at PBIA due to a move up to North County?

Gamboa

It has been a steady, overall flow. The North County project has not started yet, I do not know how much of that traffic is shifting there yet, but we still do see, a big general influx of traffic into PBI.

C. FY24 FORECAST & FY25 BUDGET* - MOTION TO APPROVE - Emanuel

Perry

Perry

We are anticipating our forecast for 2024 to come in at relatively flat at 8,000. We are setting our conservative budget for FY 2025 at $84M. In your board book, there are the program administration budgets for each agency that allow each agency to move forward and be relatively competitive within the markets in which they operate, as well as their performance measures.

We analyzed on Monday at the finance committee, we wanted to ensure that our agencies stayed on track and increased year over year as related to their metrics that were included in your board book.

And the organizational charts, no agency is adding any personnel. We feel comfortable moving forward as presented. I am seeking four separate motions. All of these items will come back before the board as an amendment to each agency's contract before going to the BCC for approval.

Motion to approve the FY24 Forecast & FY25 Budget was made by Jim Bronstien and seconded by Commissioner Adam Frankel. Motion carried 4-1-0 with Don Dufresne opposed and Joseph Fisher, Daniel Hostettler, Davicka Thompson, and Commissioner Lambert absent.

Bronstien

It is a flat budget, but we also sent out to everybody the history of Bed Tax over the last several years, which is not in this packet but was sent out. Just for perspective, in 2016 we had $47M, in 2019 was $54M, in 2021 $51M. And 2023 $84M. From 2021 to 2023, we have made $33M.

Dufresne

Hence my objection. To articulate, as you have heard, I believe if we took a 2019 budget and went 5% year over year, we would be at about $68.5M for an operating budget, and the money between that and what we are bringing in now, we are not getting a lot of bang for the buck, versus redirecting that money toward facilities, something more tangible than just spending it on marketing and not getting a significant return on it.

Mostad

You are referring to a third of that tax going towards facilities now I would like to have a reconciliation of the $28M or $26M to $28M against the current bonds.

That is all 100% allocated. Concerning two baseball stadiums, parking garage Convention Center I think that is untouchable. You are suggesting a reallocation of the funds that have been established for quite some time. Costs for the agencies have gone up exponentially.

Dufresne

I am not saying we stay at $54M. But 5% year-over-year is a significant increase in our operating budgets I think it is worth the exercise to at least look at the difference between that number because in 2019 we said we are going to do 5% year over year for the next 5 years, and everybody was over the moon. We are way beyond that, and I believe that we are not getting the return on the dollars that we were just spending for general marketing I mean $10M in revenue Annual revenue buys us about $100 to $120M in bonding capability.

We are wasting an opportunity here to do something of significance rather than just spending money with zero investment in facilities. We are tapped. We cannot do

anything with a facility or add a facility right now because we just do not have the cash to do it.

Bronstien

First and fourth cents, those bonds start to be completed. They do not go away.

Perry

The first bond is completed by 2031 and that is the Convention Center. And the second closest bond is 2036, which is the Convention Center's garage.

Dufresne

In 12 years, we could be doing something great.

Mostad

The financing for the CACTI Park of the Palm Beaches was backloaded in conjunction with the 2031. Those dollars are untouchable in the future. I agree with Don. It is worth a conversation concerning what would those funds be utilized for. You are talking about a major transition, but what is on the docket for that? Saving for a rainy day is not necessarily the best use of these dollars.

I do support the dollars spent from a marketing perspective. I can vary my opinion on that. There is a return on investment. It is much more complex, and more measurable now than it ever has been in the history of these agencies.

Dufresne

And we are talking about $15M annually at that $68.5M level than we were in 2019 It is not like we are not spending more.

Mostad

I would say that half of that is just increased cost of doing business. There could be something there, but it needs a lot of thought. I agree with Don. I do not think that any of us have an answer to how that would go, and that would involve some heavy lifting.

Bronstien

Part of the timing of this master plan will flush a lot of that out

Dufresne

I agree, but here is another $10M that we have already wasted. When I say we are just spending it on additional marketing over that $68.5M level. It is a wasted opportunity at minimum.

Bronstien

There is a little imbalance. There are a lot more rooms coming online.

Dufresne

Yes, but I think you get more bang for your advertising buck. I would like to have a discussion about it at some point. I am not sure if we should just have another Finance Committee meeting once we can start discussing it.

Segarra

Don, we met and discussed this, and we have some points on which we agree, and some others that we look at differently

One of them is the return on investment of the marketing we have been able to put here, which is responsible for getting to the $84M we have been able to collect. There is a correlation between dollars invested to the overall collection. But the most important part is as Jim said, I think the opportunity to include this approach into the master planning process will be a great opportunity.

We will have not only the input of this board, and some other boards, which is so important, but our boards, stakeholders, and communities need to be part of this conversation. That will be the best way to revisit a change in how we distribute the dollars.

Mayor Sachs

To Don's point, this conversation should be with the entire board. Because there are agencies represented here that have something to say about it. I do think we do have some issues with facilities. We do need to expand some of them. We do need to invest money in facilities. And this is a conversation that everybody needs to participate in.

Dufresne

I would also add that if the master plan is not taking into consideration this ability to at least look at and fund facilities, then it is not going to show up in the master plan. That needs to be a direction that the master plan needs to consider.

Perry

Yes, it will. We are going to circle back. I have to update the board as far as the master plan process. But yes, that is my general sense and direction that I want to go for facilities.

Dufresne

I just do not want to waste two more years and $25M.

Mayor Sachs

Mr. Perry, would you suggest that we have a meeting to talk about these issues and a full and open discussion on this issue?

Perry

Absolutely. The team and I will brainstorm a couple of different things, activities, and initiatives, and we will bring them forward before this board for open discussion.

Mayor Sachs

That way, everybody will be prepared to put forth what your agency's needs are so that we can address them

Dufresne

We ought to approach it with a figure you have got $12M less to spend in the budget. Go from there.

Mayor Sachs

Isami will also be available to give us an update on facilities, which is a big deal for many of our facilities here as well.

Bronstien

Needs, but also wants and things we do not know about. It is not just improving what we have. There are things out there that we do not know yet that might be whatever opportunity arises.

Mostad

The $14M allocated between the two, first, and fourth cent, just on one page, you are showing where that is going right now.

Dufresne

Just for clarification, when you say reserves, you are not talking about the agency operating reserves, you are talking about other reserves? I do not know if we are talking about the operating reserves of the agencies.

Mayor Sachs

I would suggest that instead of moving forward on approval of these old business items, we hold them in advance until the next meeting and we have an open discussion about budget items.

To do that, someone who voted for this will have to move to revisit that vote. We have a second on the motion to reconsider the vote to approve it.

Bronstien

We can run some timelines

Mayor Sachs

A month, and then we revisit this motion. I have a first, I have a second. All those for a motion to reconsider so that we can have an, uh, open discussion on the budget items. Okay, is anybody opposed to reconsidering the motion and voting on the budget?

Motion to reconsider the approved FY24 Forecast & FY25 Budget was made by Commissioner Adam Frankel and seconded by Jim Bronstien. Motion carried 3-2-0 with Don Dufresne and Jim Mostad opposed on the 11th ballot and Joseph Fisher, Daniel Hostettler, Davicka Thompson, and Commissioner Lambert absent.

Mayor Sachs

If you vote yes on this roll call, it means that you are voting to reconsider the acceptance of the budget as presented today. You are voting for a discussion about the budget before we have the vote on the budget as part of that old business. If you vote no, means we approve the budget as it is.

Bronstien

I would agree, it is a bigger topic than a 30-minute session. We will solve the next 30 years with the master plan being done. It seems that all this comes into play next year rather than this year because you have a master plan. If you guys want to make a defined point that this all comes into play for next year

Segarra

I respectfully ask this board to reconsider that motion. We, as an organization, have put months in the making of this budget. They were presented and approved to and from our boards. We brought them here; we discussed those budgets with the finance committee. Mr. Perry did a one-by-one budget with the opportunity to ask for every single line item in those budgets. I understand Don's idea, and concern, but that approach should not stop this process which has taken months in the making and we have made plans and commitments based on those numbers.

Ayala-Collazo

Just a point to consider in alignment with what Mr. Bronstien mentioned, we are in the budget cycle. Certainly, there is value in the discussion. But if that discussion leads to adjustments to what was submitted, the board might be cutting it very, very tight with submission to the Board of County Commissioners. Because you will decide the policy level, to speak, then will need to revert it to numbers and resubmit it here.

Dufresne

I am willing to meet as often as we need to flush this out if we want to do this over the next couple of weeks or have more than one meeting. It is a significant dollar amount and has a significant impact on our ability to enhance the facilities that we have in Palm Beach County. It is an opportunity that should not slip away, and I think it should be discussed, and I am happy to discuss it sooner than later.

Hillery

I would like to say that this is not a new topic of conversation, it has been going on for many years. But it is a huge conversation. And when you open up the distribution of the bed tax dollars you are talking about people coming out from the woodwork, wanting to tap into those dollars. We have to be very careful about this and I do not see this discussion being resolved in a month. It is my humble experience here at the table to suggest that we approve the budget as is.

Dufresne

If I can get a commitment from every department head here today, every agency head, that you will be prepared to have two different budgets presented next year, one with a reduced amount with an increase in facilities, then I am happy to put it off for a year.

I am happy to put off the discussion until next year. I do not want to be sitting here having the same discussion and putting it off another year again. I want you to make the commitment now and tell me you are willing to work with two different budgets.

Hutchinson

Please, correct me if I am wrong, but if we decided to reallocate dollars, that would still have to be approved by the County Commission before we could even consider the budget numbers. Therefore, you are not even meeting a budget deadline, you are meeting a policy deadline that has to happen before the budget, which I do not believe we can meet.

Linley

You could always amend budgets but based on this timeline it would be better to approve a budget and then you could come back and amend it, just so you do not get stuck in a place where you are without a budget and then there is a more difficult situation that we all might be up against.

I am happy to create as many different versions of a budget as Don suggested.

Mayor Sachs

Is there a motion to approve this budget as presented today? We would have to withdraw the last motion.

Commissioner Frankel I withdraw the motion.

Mayor Sachs

Everybody else voted yes to approve the budget as presented today. And as Mr. Linley said, we can always go back through the year and amend the budget as presented to move forward for the County Commission. The vote stays as it was done a few minutes ago. We have approved the budget as presented with one opposition.

Motion to approve the FY24 Forecast & FY25 Budget was made by Jim Bronstien and seconded by Commissioner Adam Frankel. Motion carried 4-1-0 with Don Dufresne opposed and Joseph Fisher, Daniel Hostettler, Davicka Thompson, and Commissioner Lambert absent.

D. FY25 PROGRAM ADMINISTRATION BUDGETS* - MOTION TO APPROVE – Emanuel Perry

Motion to approve the FY25 Program Administration Budgets was made by Jim Mostad and seconded by Don Dufresne. Motion carried 5-0 with Joseph Fisher, Daniel Hostettler, Davicka Thompson, and Commissioner Lambert absent.

E. FY25 PERFORMANCE MEASURES* - MOTION TO APPROVE - Emanuel Perry

Motion to approve the FY25 Performance Measures was made by Commissioner Adam Frankel and seconded by Jim Mostad. Motion carried 5-0 with Joseph Fisher, Daniel Hostettler, Davicka Thompson, and Commissioner Lambert absent.

F. FY25 ORGANIZATIONAL CHARTS* - MOTION TO APPROVE -

Emanuel Perry

Motion to approve the FY25 Organizational Charts was made by Commissioner Adam Frankel and seconded by Jim Mostad. Motion carried 5-0 with Joseph Fisher, Daniel Hostettler, Davicka Thompson, and Commissioner Lambert absent.

6. NEW BUSINESS – DISCUSSION ITEMS

A. ERM

1. Update – Deb Drum

Drum

We had a state record last year of over 230, 000 nests surveyed statewide for all of the sea turtles. That is an increase of over 57, 000 nests.

Our emergency dune restoration projects for Singer Island and Coral Cove are complete, and the native dune plantings were completed for both projects at the end of March. There are a couple of headlines that you will see, but we do have a massive wastewater release happening about a contractor that hit a 36-inch sewer line, if you have any questions about that, please give my office a call.

I wanted to offer to TDC and Discover The Palm Beaches it is that time of year when we work on our crisis communications plan related to both hurricane impacts and blue-green algae outbreaks. It is in our best interest to coordinate and dust off our crisis plan because there are many staff involved in this stuff. We have had a quiet couple of years, and I am sure a lot of those names and faces have changed. We work on a protocol when things happen, and how you get talking points to hoteliers and other tourism-based agencies.

B. CULTURAL COUNCIL

1. Update – Lauren Perry

L. Perry

Dave Lawrence and Jennifer Sullivan are at a local arts agency summit today and tomorrow.

Last month we participated in Discover’s Pride Fest in downtown Lake Worth Beach. We also presented an artist lecture in partnership with the Square in downtown West Palm Beach. This month we are pleased to be opening a new exhibition in our galleries. Beyond Blossom, Power of Pollinators is opening a week from today, and you are welcome to join us for the opening reception.

For professional development, we will have our Coffee and Culture session, you are welcome to send any new employees to come and get to know what we do. It is networking and we learn about the local art agencies here in the county, that will be on April 23rd .

Mosaic is the Month of Shows, Art, Ideas, and Culture. We do this every year in May. This is our seventh annual campaign. We work together with our cultural organization partners. We gather deals and discounts from them and use that to promote visitation to the Palm Beaches during May. We are in a drive market advertising campaign targeting two cities in Florida and South Florida. We are going to be on billboards in Orlando and the North Broward market.

In partnership with Discover the Palm Beaches this year we are on all the Brightline trains and in the stations. When you ride the train look for our videos and digital signs. During April and May, we will be advertising MOSAIC specifically.

This year we are distributing lanyards that say Mosaic, and people can keep collecting the pins this year. Hopefully, that will encourage people to visit more than one Mosaic partner, because there are going to be different pins at different places. We are also going to have selfie slots. Some of our hotel partners this year are taking up pool floats and we will have our big giant shades of culture during May.

I have been working hard to get more of our cultural partners to participate and we have broken our record again this year. We have 26 partners. We are going to do a localized press release next week to encourage our local media to spread the word to get locals to participate. If you are traveling, you may see my face on a paid broadcast during CBS or ABC morning shows.

All of our deals are going to be launched next week. You can go to our website, and sign up to get our Mosaic email, and when all the deals are turned on, you get that instant notification when they are turned on.

And then as a reminder, we also started our Palm Beach County Open Studios program. This year it is on May 18th and 19th . The Open Studios landing page and the Mosaic landing page connect This year we had over 90 artists sign up.

We have passed 100 at this point, more than 50 locations. Several artists are going to come together in some strategic locations like Arts Warehouse where they have a big space and are going to be doing a big Google show. This year we will have an interactive Google map ad in the Palm Beach Post the week before Open Studios Those locally can see where to go. We will have T-shirts and hats for all the artists. We are doing a social media contest. We are encouraging them to get creative and to use our Open Studios logo and branding.

Mayor Sachs

Are you forwarding the activities that are coming up this month to the PBI so the incoming passengers can see what is going on in the Palm Beaches?

L. Perry

We have our digital signs in the baggage claim at Palm Beach International that run all year round, and we use that as a co-op program. Our ad is there and three other ads. We also have two static panels that are in the waiting area

C. DISCOVER THE PALM BEACHES

1. Marketing Technology Update – Bryan Glynn

2. Update – Milton Segarra

Segarra

Over the last three years, we have changed the approach and strategy within Discover regarding marketing technology and digital marketing. That led to a series of evolutions within the organizations to make it more effective and have a better return on every single investment that we are doing in that particular space. That led to a plan to create a solid and robust platform. Which includes the necessary infrastructure to keep growing as a destination within that particular segment.

Brian is going to take you through the actual path we are proposing to take this cover and the entire community, which means all of us, to a different level with the possibility to maximize all digital investments that we are doing.

Mr. Bryan Glynn went over a Marketing Technology Presentation – Please see attached.

Perry

This was an informal presentation and the contract as it relates to this initiative will still come before this board. I will send it out and we will talk about it at the next meeting.

Bronstien

Once you deployed how does work?

Glynn

The cost of the engineering stuff is a one-time cost Everything's built. The $400,000 that was associated with the software will be a recurring cost every year. A lot of that cost is associated with the load. The team that worked on this does this with 500 companies. They can estimate where they think we are going to go. They would say it will not be over this, it could be under this. That will be recurring, but it will also offset. Right now, approximately $100,000 in other fees that we have for products or software will be replaced by that. A little bit of a gain, that we are paying yearly, but for what it is enabling, it is incredibly cost effective

Mayor Sachs

With the new laws regarding privacy. Will your contract with us also bring into context what would happen if the new laws in Florida impact some of the information data that you are processing?

Glynn

That is an important component. The Florida law as it stands now is targeted toward big tech. It is for companies that have robust revenue. It is really for Meta and TikTok and all these big organizations. The other states though like New York are working things through. Connecticut passed something last year. We have to operate within the confines of those laws in each state.

If the Florida law becomes more robust or we exceed the threshold of processing of records within any of those individual states, yes. This will make sure that we are compliant across the board. We would be protected with that software across any state that we are operating in. And they make sure that you stay up to date.

Segarra

The other component of our presentation is an update on some activities. And Gustav will provide some feedback about the current state of business.

We have some information for March and very positive updates on what we see is going to happen in summer.

Mr. Weibull went over the current state of business.

Segarra

In group sales, we are seeing a positive trend. Our booking group business is 2% higher. For 2025 it is 74 % higher. If we factor in 2026 with the potential World Cup coming, we should have a good year.

The World Cup will take our summer and transform that into something positive. The average size of the group is (9%) lower, but they are booking more and with a short-term booking window.

We now have a travel trade portal, which is how we are going to get all the wholesalers, and travel agents, to train and certify them in all the cultural attractions, hotels, etc. that could happen in our county. Normally you bring and hire someone to do this for you. Based on the capabilities that we have in our marketing team, this will save us $200,000 to $250,000 in the next few years, having this inside.

The conversion ratio is 76% and we have 85 destinations reviewed, which is how we showcase our destination. We have a partnership in the group business with the Incentive Research Foundation, which is one of the leading organizations in the world in incentive travel, they are bringing to our destination 10 qualified meeting planners who will be writing a white paper on international incentives business.

Constantine

We completed our new campaign, the Promises Collection, in New York. We did a great mini media session with journalists in New York, where Milton sat down with the editors of Condé Nast Traveler, and Ombre Magazine, had a freelance journalist for the New York Post, The Wall Street Journal, Travel Leisure, Munch Journal, some great

publications, and then Travel Weekly as well. We were able to come to them and tell the story about the Palm Beaches and make those connections.

We have had over 45M earned media impressions to date. We have had some great coverage with Southern Living, Forbes, and People Magazine. People highlighted Palm Royale. We have been able to capitalize on that show and flip it to talk about coming to the Palm Beaches, traveling here, and experiencing it for yourself.

We have got a lot of great releases going out. We are doing our What is New for Spring 2024. Information about all the developments in the destination. Our new travel trade portal that we are promoting.

Smart Women in Meetings. A shout out to Kelly Cavers and Aly Fernandez on our team who won awards with that magazine. The Providencia Award is now out. The public is invited to vote. That is our annual award. We will announce the winner at Travel Rally Day in May. We are releasing spring into savings in the Palm Beaches to capitalize on that accessible affordability that we have in the summer.

We are also working on a beach cleanup with Loggerhead Marine Life Center on April 20th in celebration of Earth Day. Everyone's welcome to join us.

Lomrantz

Tomorrow at the Boca Raton, we are hosting our second hospitality and tourism career day. We partnered with the Palm Beach County School District. The event scheduled for tomorrow is about four hours. We have about 70 high school students who come from seven schools. They are going to do a behind-the-scenes tour of the Boca Raton and get an understanding of the food and beverage, the banquet, and how the day-to-day operations work.

There is going to be a panel discussion with good speakers coming to talk about careers in tourism. We have some examples of people who decided to start in the front line at hotels and worked their way up to management. In some cases, general management.

There is going to be a total of 15 businesses in the hospitality field, doing some demonstrations, like a culinary pastry demonstration, cosmetology, floral arrangements for events, there are going to be meeting planners there, etc.

We want to expose them to not only how a career can be lucrative, but also how tourism affects their local community, and it enables them to have a better life. The Boca Raton has been a fabulous partner of ours. They are excited to host this, and they hope to continue this every 6 to 12 months.

D. SPORTS COMMISSION

1. Update – George Linley

Linley

Thanks to everybody around the table, because you are all a major reason why the county received this recognition, the Sports Business Journal recognized the Palm Beaches as a top five sports destination. We are all home to professional sports. It surely shows the commitment that the county has made over the years for sports and this TDC board, which has had to make tough decisions on sports investments, infrastructure, and resources, including resources for our sports community.

In the article, they mentioned the Breakers and the fact the NHL, and NFL meetings are hosted here. Essentially, it was six years of research that they conducted. They looked at every type of event from youth sports to collegiate events, Olympic-related events, professional sports, communities with the sports commission, a convention and business bureau, sports venue that had a specific dedication of resources to lower sporting events were considered a stand-alone market.

Bronstien

Who was in the top five?

Linley

Cities with a big buy were, 1. Orlando, 2. Las Vegas, 3. Los Angeles, 4. Atlanta, and 5. Indianapolis. Smaller cities, Fort Worth was 1. Greensboro, 2. North Carolina, 3. Birmingham, 4. Louisville, and 5. Palm Beach County

There was a total of 50 destinations recognized, and Florida had Broward County, Miami Dade, and Orlando. They are one of our greatest competitions. When you have 200,000 hotel rooms in the greater Orlando area, you can always find a decent rate, even when we are at our high, in tourism, because of their hotel inventory.

April is a strong month for sports. We are supporting a total of 24 events. I think it is a conservative forecast that we should have close to 28,000 room nights, which would be more than last year's April. It would be about a 5% increase.

This week Convention Center was home to the American Cornhole League, that was televised on CBS for an hour. In addition to Cornhole, there was also an APP Tour event in Delray Beach.

There has been growth in pickleball. It returned with the Vlasic Classic and was on CBS Sports Network. Coming up next week, we are hosting for the fifth year in collaboration with Parks and Recreation, the Palm Beaches Spartan Sprint Race, and 9,000 registered right now. The event has consistently generated over 4,000 room nights.

AAU's Karate event at Palm Beach Atlantic University is happening this weekend, along with the Sun Conference Lacrosse Championship at Kaiser University and there is a Sunshine State Conference Men's Golf Championship. The U.S. Men's National Team and U.S. Women's National Team for the 16U and 19U age groups will be training here for a couple of weeks.

From a development standpoint, there are a lot of good things happening that we are pursuing. We submitted the USA National Convention; they seem to like it and will be coming down for a site visit and the venue would be the Convention Center. We will have to do a good job on the site visit and follow through with the bid. If that happens, then we can host the team's conference, which is the Super Bowl of the trade shows, but then follow up with another big annual convention. U.S. National Convention has overseen 13 different sports since 1968

Mayor Sachs

Do you advertise at PBI with these events coming in?

Linley

We put together welcome messages when a group comes in. We have done it through the TDC. In terms of direct advertising, we have not specifically talked about it at our board.

Mayor Sachs

I also like the way you interact with the Convention Center and with events at Delray, I am sure this was all planned, that everything comes together at about the same time. It shows y'all are working together.

E. FILM & TV

1. Update – Michelle Hillery

Hillery

Tyler Cameron is back with his new show, and it was filmed in South Florida. Unlike the show Palm Royale, which we know was not filmed here. Nevertheless, we are getting a lot of attention.

The Tyler Cameron show is airing in April. It is on Amazon Prime Video. We facilitated permits for this show. Production-wise a UPS commercial filmed in Boca Raton at the Massey Tennis Academy with star Coco Gauff.

Shark Week is back, with a lot of shark shows, National Geographic and Cannibal Sharks, shot here at Riviera Beach. For the Palm Beaches TV and our Sponsorship and Development Program, things are very brisk, and a lot of projects are coming out. One is Parks and the Palm Beaches, which is a brand new six-episode show, that is going to be airing nationally on Destination America this month, which has a $10M potential reach. Another national show airing on the Travel Channel is called Pets in Paradise, a show that is going to be popular, it highlights the pet-friendly airport and green market amongst other locations here in Palm Beach County.

Two shows coming out, What’s Poppin PBC is a six-episode show, season two with Kitty Lundin and Day Tripping in the Palm Beaches is three, half-hour episodes that highlight a day itinerary utilizing the county's transportation system.

The Student Showcase of Films is coming up on April 26th . We have 650 RSVPs. Students come from all over the state of Florida. We will be presenting $29,000 in scholarships and awards. We have a record-breaking number of entries this year, 529 from 73 schools around the state of Florida. If you have not RSVP, please call my office.

F. CONVENTION CENTER

1. OVG Venue Management

a. Update - Dave Anderson

Anderson

We continue just to be on fire. March was great. We are in the middle of a wonderful April. The Boat Show was great. And we had 500 Corn Holers that were going for four straight days. They started at 7:30 A.M. and were done at about 10:00 P.M. every night. Logistically it was amazing, one of the best organized competitions I have ever seen in my career. They did everything through an app on their phones. They just walk in, and everything is real-time. They were extremely happy. They want to bring a larger one back here, it was great.

We are rolling into the Americas Duty-Free Shops show These are people who own and manage the shops, from small ones to Dubai, which is the largest, duty-free in the world. That does about a billion dollars a year just for duty-free.

The rest of May is completely packed as well. We did our third Art Show at the end of March and was probably the best attended there. They've done that show for three straight years now in March, and the attendance was phenomenal. Even though they still wanted to be in January and February, they were pleased with the attendance.

Monday afternoon and Tuesday I was in Amelia Island, the Society of Independent Show Organizers, are the largest show organizers in the world. They produce about 4,000 events around the world and the economic impact is $122B a year. The largest one was Informa which owns the Boat Show here, Fort Lauderdale, Miami Beach, and Sarasota, they alone do a thousand events a year. They had 14 different members of their organization there because they are segmented all over the country. They are in all of our buildings, Dallas, Miami Beach, Chicago, Santa Clara, California, and of course, West Palm Beach as well. They are doing, the expansion of their events, and the investment in AI across the board with all of these people. They have no limit.

Something I thought was also interesting, that the conversation about infrastructure in Orlando was there, Houston, Dallas, Anaheim, and almost every single building is expanding, we are building in Dallas, and it is going to be $2B Houston is going to expand their building starting next year a $2B, San Antonio is looking at expanding, Orlando is going to expand, which is probably $2B and small markets are building arenas, theaters, sports places, a lot of investment is going on, and not just in these large markets, in these smaller markets where they want to be a sports tourism.

It shows the competitiveness on the tourism side, but on the facility side, it is fierce. We are taking over the Mobile Convention Center, which is a building the size of mine, but

Mobile is going to tear down their arena, and they are going to build a new $300M arena, and we are going to put money into it

Business, attendance, and per caps are good. On Sunday, we had an all-company call with every facility in the world that we manage, because some internal documents have come out from the agencies that monitor terrorism in the United States. The Moscow situation was unfortunate. Since that time, there has been a lot of chatter. They are looking for people to carry out something similar to the West, either in Europe or the United States. Is getting to a point where there are no specific threats, the chatter is all around public events, large-scale events, in any type of venue. In Moscow, it was in a theater, but they are looking at all of that. We are starting to look at just, not only our buildings, but around the world and just amping things up, but we do not have a specific threat yet. But it is something that we have to take very seriously.

2. OVG Hospitality

b. Update - Kathy Griffin

Griffin

We are doing some educational development on the food and beverage side, starting at the end of the month. We are going to have the Inlet Grove culinary students out for a day. This is something we do every year we have them out. It is a very hands-on experience for them.

On top of getting them in the kitchen, touching, feeling, and interacting with our culinary staff, we serve them lunch and then we do a round table with our different supervisors and managers talking to the students from the high school level, we are now in the infancy stage of developing an internship program that I would like to roll out probably next year.

We have had our first meeting with FAU to talk about their program. We are working on that. On an inhouse level, we have just launched a leadership program within our staff. This is developed and geared towards the frontline employees and the next level up from them to give them the leadership and management skills to be able to progress in their career. We have chosen our first four candidates to go through. There are two for the front of the house, two for the back of the house. It is a very hands-on program, selfdriven. It is about three months long.

7. BOARD COMMENTS

No board comments.

8. PUBLIC COMMENTS

Mayor Sachs

George, is the first time we were in the top 5?

Linley

Yes, it is. And SPG is very respected. It is a pure sports business publication.

9. ADJOURNMENT

The meeting adjourned at 11:44 A.M.

The next Meeting will be on May 9, 2024. *Attachment included.

4. CONSENT ITEMS

TO: Tourist Development Council

FROM: Milton Segarra, President/CEO

DATE: April 30, 2024

RE: Discover The Palm Beaches Monthly Activity Report April 2024

The following overview summarizes the noteworthy initiatives undertaken by DTPB in bolstering TDC Performance measures throughout the month of April 2024. This report serves as a thorough depiction of DTPB's achievements during this period, specifically in relation to TDC Performance Measures. It highlights our performance across key areas, including advertising impressions, the impact of website users, a newly implemented performance metric, engagement levels on social media platforms, the total number of room nights contracted in the future as well as those room nights actualized in the month of April

March 2024 Lodging Performance

Hotel room night revenue was up slightly (+0.6%) with room demand down (-1.4%). Alternative lodging was up substantially in room night demand (+24%) and revenue (+20%). However significant increases in inventory (+15%) caused a decline in overall occupancy (-2.0%) and rate (3.7%). Total lodging was up selling 5.9% more room nights generating 3.6% more revenue to $218M.

Luxury hotels drove performance selling 5% more rooms (80k) at a 2% higher rate ($1,044) generating 6.8% more revenue ($84M). All other chain scales showed declines in occupancy, ADR and RevPAR, with budget dropping the furthest.

Total group room nights were down 14% from last year, making up 16% of total hotel room nights sold in March. Groups rates were up 4.8% to $347 compared to the leisure rate of $386 which was only up 0.8%.

Key Lodging Performance Numbers for March

Room demand

• Hotels: 480k (-1.4%), FL Market Share of 4.0% (+0 pts)

• Alt. Lodging: 239k (+24%)

• Total Lodging: 719k (+5.9%)

Room Night Revenue

• Hotels: $178M (+0.6%), FL Market Share of 6.2% (+0pts)

• Alt. Lodging: $39.7M (+20%)

• Total Lodging: $218M (+3.6%)

Occupancy

• Hotels: 80.9% (-2.0%), ranking 7th in growth

▪ Alt. Lodging: 75.0% (-2.0%)

▪ Total Lodging: 78.4% (-0.9%)

Average Daily Rate (ADR)

▪ Hotels: $372 (+1.9%), ranking 5th in growth

▪ Alt. Lodging: $395 (-3.7%)

▪ Total Lodging: $376 (+0.8%)

Revenue per Available room (RevPAR) was $293 down 3.1%

▪ Hotels: $301 (-0.1%), ranking 6th in growth

▪ Alt. Lodging: $297 (-5.3%)

▪ Total Lodging: $294 (-0.1%)

Discover The Palm Beaches

Monthly Executive Dashboard

Discover The Palm Beaches Monthly Executive Dashboard

Research compiled and published by Discover The Palm Beaches (DTPB), can only be reproduced through expressed written approval from the DTPB Research Department. The underlining methodologies, algorithms, formulas and data used are considered a TRADE SECRET. For questions please contact research@thepalmbeaches.com.

Discover The Palm Beaches Monthly Executive Dashboard

Discover The Palm Beaches Monthly

Executive Dashboard

Definitions:

Hotel Rooms The number of hotel rooms that are available on any day of the week. This number increases as new properties open.

Hotel Room Nights Available The number of hotel rooms multiplied by the number of nights in a given period a room is available to sell, such as a month or week. This number represents the total available hotel lodging capacity for The Palm Beaches.

Hotel Room Nights Sold The number of rooms sold over a given period. This is the total demand for hotel rooms in The Palm Beaches.

Alternative Lodging is described as any accommodation other than typical hotels and resorts without front office staffing

Alternative Lodging Rooms The number of shared lodging properties multiplied by the number of rooms per property. This number represents all the alternative lodging options competing with hotel rooms.

Alternative Lodging Room Nights (RNs) Sold The number of shared lodging listings booked multiplied by the number of nights and number rooms. This is the total demand for alternative lodging options in The Palm Beaches.

Total Room Nights (RNs) Sold– The sum of Hotel Room Nights Sold and Shared Lodging Room Nights Sold. This is the total demand for overnight lodging in The Palm Beaches.

Room Nights (RNs) Market Share-The percentage of hotel room nights sold within the state of Florida. This indicates the size of The Palm Beaches hotel market and relative performance.

Revenue Per Available Room (RevPAR) - Total room revenue divided by the total number of available rooms. See Room Revenue, Rooms Available. Room Revenue/Rooms Available = RevPAR.

Total Lodging Revenue The number of room nights sold multiplied by the average daily rate (ADR)

12 Month Moving Average (12MMA) - The value of any given month is computed by averaging the value of that month and the 11 preceding months. This is used to eliminate seasonality

Rolling 12 Months The sum of the current month and 11 preceding months. This is used to eliminate seasonality

Average Daily Rate (ADR) - A measure of the average rate paid for rooms sold, calculated by dividing room revenue by rooms sold. ADR = Room Revenue/Rooms Sold. This indicates a travelers willingness to pay for lodging in The Palm Beaches

Occupancy Percentage of available rooms sold during a specified time period. Occupancy is calculated by dividing the number of rooms sold by rooms available. Occupancy = Rooms Sold / Rooms Available. This indicates the health of the lodging market in The Palm Beaches

Rank The placement of The Palm Beaches versus 14 Florida markets (Palm Beach, Monroe, Miami-Dade, Broward, Collier, Lee, Sarasota, Pinellas, Hillsborough, Brevard, Volusia, Orlando (Orange/Osceola), Jacksonville (Duval, St. Johns), Panhandle)

Website User The total number of unique individuals accessing ThePalmBeaches.com in a given month. This is a leading indicator of interest and intent to visit The Palm Beaches as a result of DTPB promotional efforts

Research compiled and published by Discover The Palm Beaches (DTPB), can only be reproduced through expressed written approval from the DTPB Research Department. The underlining methodologies, algorithms, formulas and data used are considered a TRADE SECRET. For questions please contact research@thepalmbeaches.com.

Performance Measures – TDC

DTPB OBJECTIVES 2023 – 2024

Leisure/Consumer

• Generate 1,000,000,000 Advertising Impressions

• Generate 4,000,000 in Website Users (New Metric)

• Increase Consumer and Travel Industry database to 420,000

• Generate 255,000,000 Earned Media Impressions

• Generate 10,000,000 Social Engagements

Meetings & Conventions

• Book 121,000 DTPB only room nights (Hotel Meetings Leads)

• Generate 50,000 Group Level Booked Room Nights Convention Center Shared

• Generate 40,000 Group Level Actual FY Room Night for Convention Center Shared

• Generate 90 participants in Destination Reviews

• Generate 100 Destination Site Participants

This metric is newly introduced, and currently, there are no prior figures available for comparison. We will monitor its performance and assess trends over time as data becomes available.

1,226,599,961 426,638,472 472,253,021 2,313,187,925 1,698,852,982

Sales & Destination Services Overview by Month FY 2022 - 2023

April 2024

PERFORMANCE DASHBOARD

1 The Cultural Council starts FY24 above goal on these aggregate performance measures (which were conservatively estimated mid-fiscal FY23) due to effective tactics and additional stimulus funds employed before FY23 closed.

2 New performance indicators as of 10/1/23. Previous year totals were not measured.

HIGHLIGHTS

ADVERTISING

In early April, the Council paused most of its cultural tourism campaign placements and focused on its drive market campaign to promote MOSAIC (Month of Shows, Arts, Ideas & Culture). Advertisements for Palm Beach County Open Studios, with its new standalone branding created by ad agency, Push, were put into heavy rotation in mid-April.

Placements promoting MOSAIC included digital, print, OOH, broadcast TV and radio, and social media platforms. Placements promoting Open Studios included digital, print, OOH, and social media platforms. Target audiences for both campaigns included Gen Z, Millennials, Boomers, and families in our drive markets, as noted in the Council’s FY24 Marketing Plan. While the MOSAIC and Open Studios promotions rely heavily on digital and social media placements, strategic print placements appeared in publications such as Cultured and PURE HONEY in April. The Council’s annual MOSAIC special section in Florida Weekly (a co-op advertising package) also published in late April/early May. OOH included billboards in northern Broward County along I-95 and in Orlando along I-4, as well as ride-share vehicle wraps (Circuit, Freebee) in downtown West Palm Beach and Delray Beach. Radio spots aired on Legends Radio and signage targeted visitors at Palm Beach International Airport and in Brightline stations and trains.

Landing pages for both campaigns (mosaicpbc.com and openstudiospbc.com) launched the first week of April, capturing email addresses from visitors interested in being alerted about MOSAIC offers. On April 16, all 30 MOSAIC offers went live on mosaicpbc.com, and an email was distributed announcing those offers on April 22. This year, to improve the visitor experience during Open Studios, the Council identified a solution to provide a Google-powered, interactive location map via openstudiospbc.com. Each artist’s location is plotted for easy navigation around the county. For those who prefer a printed listing, the Council printed a 3-panel, oversized brochure with map, and it will be updating a downloadable PDF version of the listing and map up until the week before the Open Studios event.

Partner and Artist Toolkits were created for the Council’s cultural partners and the Open Studios artists to help guide them through the promotional process, activating them to be ambassadors for each campaign. The cultural partners were invited to the Council’s headquarters on April 16 and 17 to pick up MOSAIC promotional

HIGHLIGHTS

materials and signage. Open Studios participants also had pick-up opportunities at the Council on April 25 and 26, and additional opportunities for the artists to collect their signage and swag will occur in May.

PARTNER COLLABORATIONS

On April 29, the giant Shades of Culture were erected at CityPlace (formerly The Square) in downtown West Palm Beach on the corner of Rosemary Ave. and Okeechobee Blvd. to coincide with MOSAIC. The images in the Shades’ lenses feature Paris Ballet at the Kravis Center for the Performing Arts, a nod to their discounted MOSAIC ticket offers this year.

Also in April, the Council and Discover worked with local creative professional Lisa Kaw to finalize artwork for a Brightline train wrap branded to The Palm Beaches. The train wrap is expected to make its debut in May to coincide with MOSAIC. Discover invited the Council to participate in its #LoveThePalmBeaches campaign through contests it is promoting on social media and at SunFest in early May. The Council will provide prizes for special experiences at select MOSAIC cultural partner locations. The Film & Television Commission posted a MOSAIC-themed Watch Party on April 16 on YouTube featuring cultural organizations offering MOSAIC deals and an on-camera appearance by the Council’s CEO, Dave Lawrence.

PUBLIC RELATIONS

Top Placements

- April 3, Global Newswire press release distribution: “This May, MOSAIC Returns to The Palm Beaches with Exclusive Offers and Expanded Open Studios Experience”

o Top 10 Placements Reach: 384,030,118

- April 11, Baby Center (UVM: 13,581,879): “10 best budget family vacations that give the best bang for the buck”

o Pickup in MSN: (UVM: 132,453,294)

- April 21, Mommy Poppins (UVM: 971,661): “24 Great Things to Do with Mom on Mother’s Day in Miami & South Florida”

- April 22, Miami on the Cheap (UVM: 50,708): “Enjoy Culture At A Discount With Mosaic In Palm Beach”

Other Highlighted Placements

- April 2, Hotels Above Par (UVM: 18,988): “This Palm Beach Boutique Hotel is What Palm Royale Dreams Are Made Of”

- April 11, Florida Weekly (Circulation: 10,500): “Beyond Blossoms: A pioneering exhibit of artwork explores the vital role of pollinators”

- April 17, PBS/Comtel “Know What Matters” paid broadcast (Viewership: 323,856):

o Atlanta “MOSAIC 2024 WANF Atlanta Aircheck”

o Fort Myers “MOSAIC 2024 WTSP Tampa Aircheck”

o Jacksonville “MOSAIC 2024 WJAX Jacksonville Aircheck”

o Miami “MOSAIC 2024 WFOR Miami Aircheck”

o Orlando “MOSAIC 2024 WKMG Orlando Aircheck”

o Tampa “MOSAIC 2024 WTSP Tampa Aircheck” - April 22, Flamingo magazine (UVM: 60,000): “Discover the Buzz in The Palm Beaches”

National Media Outreach

In early April, the Council’s PR agency of record, Sharp, distributed a national press release teasing MOSAIC (Month of Shows, Arts, Ideas and Culture) and Palm Beach County Open Studios, and conducted media outreach to drive markets including Atlanta, Fort Myers, Jacksonville, Miami, Orlando, and Tampa. The press release included five “top deals” from cultural partners participating in MOSAIC.

The PR agency secured two influencer FAM visits in April to promote MOSAIC. As previously reported, LGBTQ-focused travel influencers Shanna and Gabi of @27travels (94.4K) visited in early April through a collaboration with Discover The Palm Beaches. Aseky of @asekyb (72.3K) completed a FAM tour with her family at the end of April. In total, four influencer FAM tours to promote MOSAIC were completed, with posts, stories, and reels being pushed live in April and early May. The FAM itineraries included visits (and subsequent media exposure) for Mounts Botanical Garden, Norton Museum of Art, Ann Norton Sculpture Gardens, Jupiter Inlet Lighthouse & Museum, Busch Wildlife Center, Gay Polo, Cox Science Center & Aquarium, Loggerhead Marinelife Center, The Society of the Four Arts, Palm Beach Zoo & Conservation Society, and the Richard and Pat Johnson Palm Beach County History Museum.

Also in April: The Council’s PR consultant Linnea Bailey worked with Sharp and Discover The Palm Beaches to submit to VISIT FLORIDA’s “One Fun Day” social media campaign, highlighting the Palm Beach Zoo and Mounts Botanical Garden. MOSAIC information was submitted to Discover to support its “What’s New in The Palm Beaches for Spring 2024” press release distribution (UVM: 5,590,154). And the Council’s Art & Culture Insider, photographer and influencer Nick Mele, visited Benzaiten Center for the Creative Arts, Ann Norton Sculpture Gardens and Palm Beach Dramaworks to capture images and content to promote MOSAIC.

Local Media Outreach

In April, the Council’s PR consultant distributed the MOSAIC and Palm Beach County Open Studios press release to local media outlets. Stet Media Group and other local news blogs responded with posts covering the upcoming May celebration. The Council’s main and solo gallery exhibitions featuring local creative professionals also received coverage by Flamingo magazine and Florida Weekly as well as a broadcast

HIGHLIGHTS

story on WPBF. On April 20, the South Florida Sun-Sentinel published an article about the new Center for Arts Innovation in Boca Raton, featuring interviews with Council, TDC and County executives. (South Florida Sun-Sentinel (UVM: 2,602,921): “First look: Design plans for Boca Raton’s Center for Arts and Innovation”)

To further promote MOSAIC in the South Florida region, the Council hosted a FAM event for 12 influencers in Boca Raton on April 27th. The event included complimentary rides aboard Brightline (guests traveled from the West Palm Beach and Ft. Lauderdale stations to the Boca Raton station), an informational brunch at Kapow! featuring MOSAIC artist Allan Creary, a photo opp featuring the City of Boca Raton’s public art program, swag bags, and tours of the Boca Raton Museum of Art and the Boca Raton Historical Society’s Schmidt Boca Raton History Museum (pictured). The City of Boca Raton graciously provided transportation on Molly’s Trolley within its city limits for the entire group. The influencers in attendance shared their experience with their followers and via blog posts as a result, and the Council plans to connect them with MOSAIC cultural partners for additional FAM tour opportunities in May.

COMMUNITY ENGAGEMENT

The Cultural Council was a proud sponsor of the Black Gold Jubilee in April. Belle Glade’s beloved annual festival brings in a crowd of thousands to enjoy and participate in events including the Harvest Queen Pageant, fishing and golf, a Main Street Parade, a green market, fireworks, family-friendly rides and games, and a 5K race. The Black Gold Jubilee also featured a circus act and live musical performances by local and international artists, plus a photography contest featuring images of life, scenery, and wildlife around Lake Okeechobee.

SECTOR SUPPORT

In support of the sector, members of the Council team attended exhibitions, performances, and special events in April at Kravis Center for the Performing Arts, Palm Beach Dramaworks, Boca Raton Museum of Art, Busch Wildlife Sanctuary, Schmidt Boca Raton History Museum, and Palm Beach Zoo, to name a few.

The Cultural Council invited the Racial Equity Institute (REI) to present its Phase I workshop in April and June for the local arts and cultural sector through generous funding from the Cornelia T. Bailey Foundation. REI’s two-day workshop is designed to develop the capacity of participants to better understand racism in its

HIGHLIGHTS

institutional and structural forms. Moving away from a focus on personal bigotry and bias, the workshop presents a historical, cultural, and structural analysis of racism. The first workshop was held at Palm Beach Dramaworks on April 8 and 9, and a second is planned for June 24 and 25.

On April 23, the Council hosted another well-attended Coffee & Culture event at its headquarters, welcoming new employees from cultural arts organizations as well as creative professionals who are new to the area. Coffee & Culture is part of the Council’s Institute for Cultural Advancement (ICA) series and offers an opportunity for attendees to network with peers and learn about the Cultural Council’s role as the local arts agency for Palm Beach County TDC Executive Director Emanuel Perry also presented an overview of the county’s tourism agencies and initiatives.

Florida Leads the Nation in Sports Tourism

Florida is leading the nation’s sports tourism economy, which was revealed by the Sports ETA (Events & Tourism Association) State of the Industry Report. Sports ETA, which is the trade association for the sports events and tourism industry, released its highly anticipated annual State of the Industry Report during the Sports ETA Symposium in Portland. The report underscores the strength of the sports tourism sector in the United States, showcasing a direct spending impact of $52.2 billion, which generated a total economic impact of $128 billion in 2023. This monumental contribution supported 757,600 full-time and part-time jobs and contributed $20.1 billion in taxes to various sectors of the economy. The number of sports travelers in America established a new high-water mark of 204.9 million in 2023. The sports tourism industry continued to grow in 2023, increasing by 7% over sports traveler volume in 2022.The association’s last benchmark State on the Industry report was released in 2022 to benchmark 2021, and concluded that U.S. sports-related travelers, event organizers, and venues spent a total of $91.8 billion.

The study was conducted by Tourism Economics, with support from Northstar Meetings Group, the leading multi-platform brand for dedicated meeting and business planners and sports event organizers, and the presenting sponsor of the association’s “Annual State of the Industry” research report. The analysis draws on a variety of data sources to quantify sports tourism, which includes adult and youth amateur events and collegiate tournaments (the economic impact

analyses conducted within the report exclude professional sports and collegiate regular season games):

• Sports ETA: destination membership survey data

• Longwoods International: traveler survey data, including spending and visitor profile characteristics for sports tourism nationwide

• Bureau of Economic Analysis and Bureau of Labor Statistics: employment and wage data, by industry

• Bureau of Transportation Statistics: U.S. domestic average itinerary fares

• U.S. Travel Association: domestic travel data

• STR: lodging data

• Sports attendance data

Key Highlights from the 2023 Sports ETA State of the Industry Report include:

• Sports travelers spent $52.5 billion dollars in 2023 on the following:

o $13.5 billion on transportation

o $10.9 billion on lodging

o $9.7 billion on food and beverages

Recreation, retail, and tournament operations rounded out spending, registering $6.9 billion, $6.5 billion, and $4.7 billion, respectively. The nation’s lodging sector accounted for 21% of all sports-related travel spending. In 2023, sports-related travel generated 73.5 million room nights, which is an important factor given that hotel taxes are a primary funding source for many entities.

Top 10 States for Most Economic Impact by Sports Tourism Unveiled

For the first time ever, the Sports ETA State of the Industry Report has identified the Top 10 list of states in terms of the economic impact generated by sports tourism in 2023. Data provided by sports tourism industry stakeholders and economic data were utilized in the ranking analysis. Sports tourism marketing funds and other initiatives, such as bid fees and local grants, also influence how states perform. They are:

1. Florida

2. Texas

3. California

4. Pennsylvania

5. Illinois

6. Ohio

7. New York

8. Tennessee

9. Georgia

10. Virginia

The Palm Beaches’ sports tourism landscape greatly contributed to Florida’s top ranking for generating the most economic impact through sports tourism. Palm Beach County was recently recognized by the Sports Business Journal (SBJ) as one of the elite sports destinations in the United States per the Sports Business Journal (SBJ), which announced its second year of rankings for Best Sports Business Cities (BSBC). The Palm Beaches ranked number five in the “Cities Without a Big Five Team” category, which represents destinations without a local sports franchise participating in the NFL, MLB, NBA, NHL, and MLS.

The Palm Beach County Sports Commission hosted 196 events, representing over 40 different types of sports during the last year. Palm Beach County’s sports resume is robust and diverse. Equestrian show jumping and baseball are two of the top-producing sports in The Palm Beaches. The Palm Beaches represent the only county that is home to two MLB Spring Training facilities that each accommodate two teams. In addition to hosting one out of four MLB Spring Training games in Florida, Palm Beach County is also home to one the largest collection of national baseball tournaments compared to any other destination in the United States. Home to the PGA Tour, ATP Tour, Billie Jean King Cup, FIP Polo World Championships, NCAA Championships, the Boca Raton Bowl, and an array of the largest youth sports events taking place in the nation, Palm Beach County is one of the preeminent sports destinations on the globe. This year, Palm Beach County was home to the first Olympic Qualifier to take place in the United States for the 2024 Summer Olympics Games in Paris (Federation of International Gymnastics – World Cup of Trampoline & Tumbling). The entire sports event industry traveled to The Palm Beaches this October, by hosting the 25th edition of the TEAMS Conference + Expo.

Fiscal Year 24, Semiannual Report

The Palm Beach County Sports Commission’s semiannual report for FY 23 (October 1, 2023 –March 31, 2024) indicates an effective performance in elevating sports tourism for The Palm Beaches. The report shows the Palm Beach County Sports Commission is on pace to meet and exceed its FY 24 performance measures. During the first six (6) months of FY 24, the Palm Beach County Sports Commission’s event portfolio includes 103 events, creating 195,785 room nights for the county’s lodging industry. In total, the Sports Commission hosted events generated an estimated $48,002,566 in hotel revenue and $2,880,154 in bed tax revenue. Moreover, the Sports Commission events spurred an estimated $186,492,800 in visitor spending

Semiannual Performance Measures- FY 24

Palm Beach County Sports Commission

Performance Measure Detail - Semiannual Report

Palm Beach County Sports Commission

Sports-related room nights

Perfect Game World Wood Bat Association (WWBA) World

Perfect Game World Wood Bat

Perfect Game 12U & 14U WWBA World

Perfect Game Ultimate Baseball Championship

Perfect Game 13U WWBA National Championship

Perfect Game Endless Summer Classic

Perfect Game 17U Florida World Series

Perfect Game World Wood Bat Association (WWBA) Florida Invitationals

Perfect Game 13U & 14U National Showcase

Minority Baseball Prospects All-American Game

FCSAA Division II/NJCAA South Atlantic District Volleyball Championship

FCSAA Division II/NJCAA Region 8 Men's Basketball Championship

USA Pickleball - World Pickleball Open

5 v 5 Warrrior Soccer National Championship

One Hockey - Feast on the Beach

Battle Youth National Championship

National Junior College Athletic Association (NJCAA) Basketball Invitational

Major League Soccer - Nashville Soccer Club Pre Season Team Training

Major League Soccer (MLS) - Toronto Football Club Preseason Team Training

7v7 Elite Championships Southeast Regional

Jamacian U20 Men's National Team Training

USSSA Florida Baseball State Qualifier

CEO Gaming Fight Championships

RUSSMAT Collegiate Baseball Spring Training

USSSA Spring Break Bash

Florida East Coast Travel League/USSSA Wood Bat Classic

FL Women's Hockey League Spring Series

American Cornhole League Kick-off Battle

Men's Senior Baseball League (MSBL) Fall Classic

Men's Senior Baseball League (MSBL) Memorial Day Classic

World Wake Association (WWA) Florida State Championship

International Tennis Federation (ITF) Senior World Championship

2024 Hydrodrags Nationals/World Championships

American Junior Golf Association (AJGA) UNIQLO / Adam Scott Junior Championship

USA Gymnastics Rhythimic Development Championships

First Responder Games

FLETL/USSSA Wood Bat Championship

World Wake Association (WWA) - Wake Park National Championships

Sunshine State Amateur Golf Association Championships

Association of Pickleball Players (APP) Tour September Open

Association of Pickleball Players (APP) Vlasic Classic

AVP (Association of Volleyball Professionals) Pro League Beach Championships

Amateur Athletic Union (AAU) Karate Florida Gold Karate Championships

Lynn Lewis Foundation - Flag Football Championship

PGA TOUR - Pathways to Progression

Youth Impact Center Wrestling

International Rush Cup

OneHockey Winter Series

USA BMX Sunshine State Nationals

USA Fencing Regional Championship

Bridgestone Collegiate Invitational

USA BMX Florida State Championship

National Academy League presented by 3Step 2025 National Showcase

National Negro Golf Association (NNGA) Invitational

Baseball

Baseball

Baseball

Baseball

Baseball

Baseball

Baseball

Volleyball

Basketball

Pickleball

Soccer

Ice Hockey

Football

Basketball

Soccer

Soccer

Flag Football

Soccer

Baseball

E-Sports

Baseball

Multi-sport

Baseball

Ice Hockey

Cornhole

Baseball

Baseball

Wakeboarding

Tennis

Water sports

Golf

Gymnastics

Multi-sport

Baseball

Wakeboarding

Golf

Pickleball

Pickleball

Beach Volleyball

Karate

Flag Football

Golf

Wrestling

Soccer

Ice Hockey

BMX

Fencing

Golf

BMX

Dance

Golf

Sunshine State Games Lacrosse Lacrosse

Prospectwire Southeast Championships

Baseball

United States Specialty Sports Association (USSSA) Annual Convention Conference

USA Gymnastics Men's Development Program Eastern National Championships

PGA Works Collegiate Championships (NCAA Division I & II Collegiate Golf Event)

Mid-American Conference - Men's Golf Championship

NCAA Division 1 Men's Southeast Golf Invitational

2027 NCAA DI Women's Golf Regional Championship

Gymnastics

Golf

Golf

Golf

Golf

2027 NCAA DII Women's Golf National

2027 NCAA DI Women's Golf National Championship

2027 NCAA DI Men's Golf Regional Championship

2027 NCAA DI Men's Golf National Championship

2027 NCAA DII Men's Golf National Championship

2028 NCAA DI Women's Golf Regional Championship

2028 NCAA DI Women's Golf National Championship

2028 NCAA DII Women's Golf National Championship

2028 NCAA DI Men's Golf Regional Championship

2028

2028

7v7

International Tennis Federation

Major League Soccer - Nashville Soccer Club (SC)

Major League Soccer - Toronto Football Club (FC)

Northstar Meetings Group

COPABE (Pan American Baseball Confederation

World Baseball Softball Confederation (WBSC)

USA Baseball

USA Judo

USA Field Hockey

Conference + Media

USA Water Ski & Wake Sports Water Ski & Wake Sports

Perfect Game USA

Florida Sports Foundation

5v5 Warrior Soccer Soccer

World Wake Association

Sports ETA (Events & Tourism Association)

USA Gymnastics

United States Olympic & Paralympic Committee (USOPC)

United Soccer League (USL)

US Virgin Island Lacrosse

Dominican Republic National Team

Elite Tournaments

Elite Dutch Soccer

PGA TOUR

HydroDrags PWC

RUSSMAT Baseball

DS Sports Ventures

World Long Drive

Face IT Athletics

Webber Marketing

First Responder Sports, Inc

Uruguay National Team

New Balance Prelude 32 Basketball

Bahamas Ministry of Tourism

PGA of America Golf

& Field

Prospect Select Baseball

Men's Senior Baseball League (MSBL)

Florida Youth Soccer Association (FYSA)

Perfect Game World Wood Bat Association (WWBA) 15U-18U Fall Invitational

US Soccer Federation U16 Team Training

Hardball 360 Fall Classic

TEAMS Conference & Expo

Minority Baseball Prospects All-American Game

Blue Line Hockey - Columbus Day Discovery Showdown

Perfect Game World Wood Bat Association (WWBA) Freshman World Series

Perfect Game World Wood Bat Association (WWBA) World Championship

USA Track & Field Masters 5K Cross Country Championships

High School Football - National Series

United States Tennis Association (USTA) Columbus Day Open

USTA Men's 50 Clay Court Championships

USTA National Men's 70, 85, 90, Clay Court Championships

World Pickleball Classic

NPC Florida Grand Prix

Florida Youth Soccer Association (FYSA) Palm Beach Gardens Classic

Hurricane Junior Golf Tour - South Florida Fall Junior Open

Gameday USA Junior All-American Games

Perfect Game World Wood Bat Association (WWBA) 13U & 14U World Championships

World Comes to the Palm Beaches

Monster Mash Lax Clash

TimberTech Championship (PGA Tour Champions)

International Tennis Federation (ITF) Regional Championships

2023 FCSAA Division II/NJCAA South Atlantic District Volleyball Championship

USTA National Family Clay Court Championships

Southern States Athletic Conference (SSAC) / Sun Men's Basketball Challenge

Miracle League All-Star Weekend

Men's Senior Baseball League (MSBL) Fall Classic

Invited Champions Classic

I Do Beach Tennis - International Tennis Federation (ITF) Open

Weekend Hockey Veteran's Day on the Beach

SoFlo Turkey Shootout

World Pickleball Open

Florida Women's Hockey League Fall Series

5 v 5 Warrrior Soccer National Championship

Hurricane Junior Golf Tour Southeast Florida Winter Junior Open

Hurricane Junior Golf Tour - Palm Beach Holiday Junior Open

Delray Riptide Fall Classic

Delray Beach Pickleball Classic

The Elite Prospects Cup Series AA Premium Tournament

"Little Mo" Internationals in Florida

Equestrian Sports Productions (ESP) Holiday & Horses Circuit

USSSA Santa Slam

K365 West Palm

National Pickleball Expo & Tournament

Battle Youth National Championship

Delray Riptide Winter Blast

Garden of Life Palm Beaches Marathon

Panther Holiday Classic (National Junior College Athletic Association)

West Palm Beach Classic (NCAA Division I Women's Basketball Showcase)

Burkie Golf Invitational

US Kids Golf Foundation Holiday Classic

RoofClaim Boca Raton Bowl

Collegiate Swim Team Training

Holiday Basketball Classic of the Palm Beaches

Hurricane Junior Golf Tournament (HJGT) PGA National Holiday Open

New Year's Classic (NAIA Men's Basketball Showcase)

Winter Equestrian Festival

Panther's New Year Classic (National Junior College Athletic Association)

AC Delray Rush Cup

Junior Honda Classic

College Preparatory Invitational (CPI) Horse Show

American Youth Soccer Organization (AYSO) State Games

Wellington Soccer Shootout

Florida RUSH

Major League Soccer (MLS) Training Camp - Nashville Soccer Club

Major League Soccer (MLS) Training Camp - Toronto FC

MLK Classic

Boca Raton International Pickleball Masters

Hurricane Junior Golf Tour Palm Beach Junior Open at Park Ridge

Les Grandes Dames USTA Senior Women's Tennis Tournament

Hurricane Junior Golf Tour - Palm Beach Junior Open

Florida Exposure Cup

7v7 Elite Southeast Regional

FAU Paradise Golf Invitational (NCAA DI Women's Golf)

Paradise Invitational (NCAA D1 Softball)

Joan Joyce Classic (NCAA DI Softball)

Delray Beach Open (ATP Tour)

Varsity Spirit - West Palm Beach Nationals

77th Women's International Four-Ball Championship

USSSA Florida Baseball - Wellington Classic

Weekend Hockey President's Day on the Beach

US Virgin Island Lacrosse TBC

Florida Junior Tour Indian Springs Open (16-18)

Owl Classic (NCAA D1 Softball)

Major League Baseball (MLB) Spring Training

Speed Capital Palm Beach

The SoFlo Championship

Statewide Amateur Hockey of Florida (SAHOF) Championships - 10U & 12U A Division

Hurricane Junior Golf Tournament (HJGT) Palm Beach County Junior Open

Capital One's The Match

Cognizant Classic in The Palm Beaches (PGA TOUR)

Palm Beach Challenge & International Baseball Festival

USA BMX Gold Cup

2024 FCSAA Division II/NJCAA Region 8 Men's Basketball Championship

I Do Beach Tennis Open ITF - Singer Island Edition XXII

Quebec-Florida Softball camp

USTA Women's National Clay Court Championships

Florida State Youth Soccer Association (FYSA) Palm Beach Gardens Classic

USA Soccer U17 Men's National Team Training Camp

Hurricane Junior Golf Tournament (HJGT) Lake Worth Junior Open at Fountains

FLETL Wood Bat Classic

Florida Women's Hockey League Spring Series

TimberTech Championship (PGA TOUR Champions)

Lou Groza Award - ESPN's Home Depot College Football Awards

Boca Raton Bowl

Perfect Game WWBA World Championship

Winter Equestrian Festival

Boca Raton International Masters

Delray Beach Open (ATP Tour)

Gauntlet of Polo - U.S. Open Polo Championships

Major League Baseball Spring Training

Capital One's The Match

Cognizant Classic in The Palm Beaches

Golf Channel

ESPN

ESPN

Perfect Game.TV & Fox Sports

USEF Network

CBS Sports Network

Tennis Channel

ESPN

ESPN / MLB Network

TNT

NBC & Golf Channel

Sports ETA Symposium

Events & Operations

Event Support

 Attended the 2024 Sports ETA Symposium in Portland, OR to meet with sport event rights holders, including Perfect Game, Prospect Select, Elite Tournaments, USA BMX and others, totaling nearly 60 one-on-one appointments

 Meet with other sports commissions and share best practices

 Attend education sessions to learn from industry experts

Lou Groza Collegiate Place-Kicker Award

 Finalize Home Depot College Football Awards show date with NCFAA/ESPN to plan for 2024 program

 Secure local facilities now that show date is confirmed

 Plan for Summer NCFAA Meeting

Palm Beaches Spartan Spring Weekend

 Deliver all marketing assets and signage to Burt Aaronson South County Regional Park

 Ensure proper collaboration between Spartan and Palm Beach County Parks & Recreation

Sunshine State Conference Men’s Golf Championship

 Coordinate partnership agreement with Lynn University for support of SSC Men’s Golf Championship

 Ensure course proper course signage with Lynn and Osprey Point Golf Course

African American Golf Expo and Forum

 Finalizing Golf Clinic site

Finalizing Contract Obligations

• Columbus Day Discovery Showdown

• World Comes to the Palm Beaches

• Perfect Game WWBA World Championship

• USTA Columbus Day Open

• TimberTech Championship

• Men’s Senior Baseball League

• I Do Beach Tennis ITF Open Singer Island

• Battle Youth National Championship

• “Little Mo” Internationals in Florida

• 5v5 Soccer Tour National Championship

• Garden of Life Palm Beaches Marathon

• World Pickleball Classic

• World Pickleball Open

• Delray Beach Pickleball Classic

• National Pickleball Expo and Tournament

• Equestrian Holiday and Horses

• Winter Equestrian Festival

• Florida RUSH Hockey

• Boca Raton International Masters

• CPI Horse Show

• AYSO Florida Nationals

• FYSA Palm Beach Gardens Classic

• Invited Champions Classic

• Hardball 360 Fall Classic

• EDP Soccer

• Wellington Soccer Shootout

• Paradise Puck

• Florida Exposure Cup

• Delray Beach Open

• Gauntlet of Polo

• Florida State Golf Association amateur tournaments

• East Coast SoFlo Championships

• Little Mo East Regionals

• Think Pink Invite

• Palm Beach Challenge College Baseball and International Festival

• Les Grande Dames

• Delray Beach Riptide Lacrosse tournaments

• Florida State Golf Association Junior Tour

• International Tennis Federation (ITF) W25 Pro Circuit

• Association of Pickleball Professionals (APP) Vlasic Classic - Delray Beach

• American Cornhole League Kickoff Battle

• Palm Beaches Spartan Sprint Weekend

• Florida Shine Classic

• South Florida Collegiate Baseball League

• Gateway Marathon Ocean Cup 2024

• Battle in the Village Flag Football Tournament

• PBGYAA Swamp Classic

• Cal Ripken T-Ball and Rookie (8U) State Championship

The generation of RFP’s and contracts for hotel room blocks, assisting with onsite registration of participants, setting up hotel room registration information for event websites, securing venues to host the events, assisting with permitting for use of venues, securing vendors to service the events (i.e. rental vehicles, tents, radios, golf carts, trainers, security, medical personnel, field lining, bleachers, transportation, concessions). All these services are offered to each event promoter, which contributes to event retention.

• FAU Men’s Golf Invitational

Hotel RFP & Room Blocks

PALM BEACH COUNTY SPORTS

Timothy

Reynolds

Patrick

Derek

Monica

Taylor

Suzi

Chris

Caitlin

Sports-Development

Sports Development Executive Summary

In FY 24, the Palm Beach County Sports Commission (PBCSC) is deploying an aggressive sales and sports development effort to increase the number of sports tourisms generating events taking place in The Palm Beaches. The PBCSC continues to cultivate relationships with event owners, as well as identify, solicit, secure, and retain sports events to grow room night actualization. Below is a recap of sports development efforts that have taken place during FY24.

Event Bids & Development

A primary mechanism for event solicitation is through the Event Bid and Development process. To recognize potential bid opportunities, the PBCSC will be at the forefront of the industry and engage with event owners.

Bid submission is a highly effective tool to recruit sporting events. Attached is a comprehensive list of the bids that have been submitted in FY 24, and below is a breakdown of the development efforts over the past month:

• World Wake Association Wakeboarding State Championships

o May 2024

o 250 Athletes, 20 coaches, 400, Spectators

o 500 projected room nights

o Shark Wake Park 561

• New York City Dance Alliance

o July 5 – July 12, 2026

o 1,200 Athletes, 1,500 spectators

o 3,400 projected room nights

o Palm Beach County Convention Center

• Florida Flag Football State Series Rd 1

o April 20th – 21, 2024

o 600 Athletes, 850 Spectators

o 1400 projected room nights

o Village Park Wellington

• Sunshine State Conference Men’s Golf Championship

o April 21st – 23rd, 2024

o 132 NCAA Men’s Golfers, 11 Teams, 22 Coaches

o 400 Spectators

o 600 – 800 Room Nights

o Osprey Point Golf Course – Boca Raton, FL

• FLETL/USSSA Battle of the Beast Wood Bat Championship

o June 21 – 23, 2024

o 1,600 Participants

o 800 Projected Room Nights

o Multiple Palm Beach County Parks and Recreation Venues – Finalizing

• National Academy League by 3Step 2025 National Championship & Showcase

o June 2025

o 7,000 Athletes, 14,000 spectators

o 12,000 Projected Room Nights

o National Polo Center

• Florida Atlantic University Golf Invitational

o October 27 – 29, 2024

o 12 teams, 90 Athletes, 20 Coaches, 200 spectators

o 300 Projected Room Nights

o PGA National Resort

• Wednesday Night Lights High School (U20) Sprint/Field Series (Track & Field)

o June 12th, 2024

o 120 Athletes, 500 – 1000 Spectator

o Projected 500 – 700 Room Nights

o Dwyer High School, West Palm Beach, FL

• USA Gymnastics Men’s Development Program Eastern National Championships

o April 23-26, 2026

o 700 projected participants, 25 coaches, 1200 Spectators

o 1,500 projected room nights

o Palm Beach County Convention Center

Event Site Visits

When trying to bring events to Palm Beach County, engaging event rights holders to conduct a site visit or familiarization tour is one of the most beneficial event development strategies. Site visits allow for an event owner to explore potential sports venues while experiencing Palm Beach County’s tourism assets, such as hotels, restaurants, and attractions. Attached is a comprehensive list of the site visits that have been conducted in FY 24, and below is a breakdown of site visits conducted over the past month:

• First Responder Sports, First Responder Games, Palm Beach Atlantic University, Greenacres Bowl, PGA National Resort, Palm Beach County Shooting Sports Complex,The Gardens North County District Park

• Men’s Senior Baseball League, MSBL Fall Classic, The Cacti Ballpark of the Palm Beaches, Roger Dean Chevrolet Stadium

The Palm Beach County Sports Commission will be sent three (3) representatives to the 2024 Sports ETA Symposium, held in Portland, Oregon. The Palm Beach County Sports Commission met with 60 different event rights holders during the scheduled appointment sessions presented at the Sports ETA Symposium. These meetings could lead to significant sports tourism business opportunities for The Palm Beaches. Moreover, the Sports Commission met with countless other prospective clients during the various events within the Sports ETA Symposium.

The 2024 Sports ETA Symposium, which included: Jared Fleet (Director of Events), James Taylor (Director of Sports Development), and George Linley (Executive Director).

Palm Beach County Sports Commission Bid Calendar - FY24

Palm Beach County Sports Commission Bid Calendar - FY24

Palm Beach County Sports Commission Bid Calendar - FY24

Palm Beach County Sports Commission Bid Calendar - FY24

Palm Beach County Sports Commission Bid Calendar - FY24

Palm Beach County Sports Commission Bid Calendar - FY24

Palm Beach County Sports Commission

Fam Tours with Event Rights Holders

Fam Tours with Event Rights Holders

October 1, 2023 - September 30, 2024

Palm Beach County Sports Commission

Fam Tours with Event Rights Holders

October 1, 2023 - September 30, 2024

Elite Dutch Soccer

Elite Three Week Summer Camp Hosting 400 International Players ages 12 - 19

Gardens Park

PGA TOUR

PGA TOUR Event (Classic in The Palm Beaches)

PGA National Resort

Communications-Digital Marketing

Marketing & Promotions

May newsletter

• American Cornhole League Successfully Hosts Season-Opener in The Palm Beaches

• APP Tour Showcased Top Pickleball Talent in The Palm Beaches

• The Kids Fitness Festival Returns on July 10

Social Media

Across all social media platforms that the Palm Beach County Sports Commission operates, the audience increased month-over-month. The sports commission’s platforms circulated 102 posts which drove a total of 360 interactions and 24,311 impressions.

Top performing social media post: It's no secret that pickleball is taking over the world of sports. The Palm Beaches is the place to play

Reactions: 33, Network Tracked Clicks: 185, Impressions: 7,230

Earned Media: APP Tour Vlasic Classic in Delray Beach

The 2024 APP Vlasic Classic - Delray Beach not only showcased exceptional pickleball talent but also garnered significant attention in the media landscape. With 16 mentions across various platforms, including social media, news outlets, and sporting publications, the event reached an expansive audience of 1,401,432 individuals. This extensive publicity, valued at $13,247, underscores the event's significance within the sports community and its broader appeal to enthusiasts and spectators alike.

Media: International Gay Polo Tournament

The International Gay Polo Tournament, held for the first time at the Patagones Polo Club in Wellington, epitomized the intersection of sportsmanship, celebration, and advocacy. Drawing top GPL players and passionate spectators from across the globe, this weekend extravaganza showcased the thrilling spectacle of polo while championing inclusivity and diversity within the sporting world.

With 45 mentions across diverse media channels, reaching an expansive audience of 150,168,799 individuals, the tournament's resonance reverberates far beyond the polo fields of Wellington. This extensive publicity, valued at $1,485,609, underscores the event's significance as a catalyst for meaningful dialogue and progress in the pursuit of equality and respect for all athletes.

Earned

Palm Beach County Sports Commission

Marketing

Impressions

ThePalmBeachCountySportsCommissionplaysapivotalrole in promotingthesignificance of sportsand recreationalevents in ThePalmBeaches,therebygeneratingsubstantialmarketingimpressions. By attracting andhostingadiverserange of sportingevents,theSportsCommissionnotonlyshowcasesthevibrantsports culture in PalmBeachCounty but alsobrings in athletes,fans,andmediaattention.Theseeventscreatea wealth of marketingimpressions,capturingtheinterestandenthusiasm of abroadaudience.These impressionsextendbeyondthesportingeventsthemselves,contributing to thecounty'seconomic developmentthroughincreasedtourism,localbusinessexposure,andaboost to ThePalmBeaches'reputation as asportingdestination.ThePalmBeachCountySportsCommission'scommitment to showcasingthecounty's athletic prowess underscores its role in boosting marketing impressions

March 2024 Total Marketing Impressions

Website Impression:

Social Media Impressions:

Advertising Impressions:

Earned Media Impressions: 5,921 22,727 25,000 1,703,297

Total Impressions this Period: 1,756,945

Fiscal Year-to-Date Total Marketing Impressions

Website Impression:

Social Media Impressions:

Advertising Impressions:

Earned Media Impressions:

Total Impressions Fiscal TYD:

ThePalmBeachCountySportsCommissionutilizesimpressiondata to refinemarketingstrategy. By analyzing impressionsfromvariouspromotionalactivitiesandevents,insights are gainedintowhichcampaigns are resonatingmostwithwhichtargetaudience.Thisdata-drivenapproachenablestheeffectiveallocation of resources,optimization of messaging,andoverallenhancement of promotionalefforts to attractmoresports visitors to Palm Beach County.

Marketing Impressions Semi-Annual Reporting

The Palm Beach County Sports Commission has undertaken a strong marketing effort and brought significant marketing impression throughout the first six months of the fiscal year (October through March).

Website Impressions (38,847 total impressions): Website impressions represent the number of times our website content is viewed. These impressions indicate the level of interest and engagement with our online presence. By tracking website impressions, we can assess the effectiveness of our website design, content, and user experience. Increasing website impressions can lead to higher conversion rates and engagement with our target audience.

Advertising Impressions (848,735 total impressions): Advertising impressions represent the number of times our advertisements are viewed by potential customers. These impressions are critical for assessing the reach and effectiveness of our advertising campaigns across different channels, such as digital, print, and tv commercials. By analyzing advertising impressions, we can optimize our advertising strategies to maximize reach and engagement with our target audience.

Social Media Impressions (129,592 total impressions): Social media impressions reflect the total number of times our content is displayed on various social media platforms. These impressions are essential for evaluating the reach and impact of our social media marketing campaigns. Higher social media impressions

indicate increased visibility and engagement with our target audience, which can result in greater brand awareness and community engagement.

Earned Media Impressions (131,491,537 total impressions): Earned media impressions quantify the total exposure generated through media coverage, such as news articles, press releases, and mentions in publications. These impressions are valuable indicators of our brand's visibility and reputation in the media landscape. Higher earned media impressions suggest increased media interest and coverage, which can enhance our credibility and authority within our industry.

Total Impressions Fiscal Year to Date is 132,632,030

The total impressions fiscal year to date provide a comprehensive overview of our overall marketing reach and impact. By aggregating all impression metrics, we can assess the cumulative effect of our marketing efforts in reaching and engaging our target audience. This total serves as a key performance indicator for evaluating the success of our marketing strategies and informing future decision-making.

The Palm Beaches Spartan Event Weekend Returns

to Boca Raton

| APRIL 16, 2024

The Palm Beach County Sports Commission has partnered with Spartan Race, Inc. to support the 2024 Palm Beaches Spartan Event Weekend on April 19 through April 21 at Burt Aaronson South County Regional Park in Boca Raton, FL.

Thousands of participants from across the United States are expected to compete on the “flat and fast sandy track” in The Palm Beaches.

Spartan Race, founded in 2010 and headquartered in Massachusetts, is the world’s largest obstacle race and endurance brand. The events focus on sport and athleticism, pushing the bodies and minds of competitors to the limit across miles of unforgiving terrain while they conquer signature obstacles such as the Spear Throw, Bucket Brigade, and Barbed Wire Crawl. The variety of Spartan races makes the brand accessible to all ages, skill levels, and abilities – More than 10 million people have crossed the finish line together of at least one Spartan race across the globe.

This event will feature Spartan’s signature “Sprint” style race, which encompasses a distance of 3+ miles and approximately 20 obstacles. Obstacles will include fire jumps, tall walls, monkey bars, rope climbs, and more. The combination of the short distance on a flat, off-road terrain featuring mud and water makes this race great for first-time and competitive racers alike.

Racers have the option to enter one of three different divisions. There are two competitive divisions, one with timed waves that racers select at random, the other has pace groups based on an expected finishing time and contains the most

competitive and seasoned waves of racers. The Open division is more relaxed on rules and regulations and is for more recreational racers.

Consistent with Spartan events around the world, the Palm Beaches Spartan Sprint Weekend will feature a youth race, for those ages 4-13 years old, where they are put to the test against age-appropriate obstacles and race distances. While some parents will compete while their kids are racing, many attend as spectators and cheer on the youth.

The host venue for the event, Burt Aaronson South County Regional Park, has been home to the race since 2019 when the Palm Beach County Sports Commission won a bid to bring the event to The Palm Beaches. The facility is one of the most versatile sports venues in Palm Beach County. This comprehensive gem, owned and operated by Palm Beach County Parks and Recreation, includes four lighted baseball fields of varying dimensions, four lighted softball fields, five lighted multipurpose fields, 12 lighted racquetball courts, 19 tennis courts, six pickleball courts, and five volleyball courts. The park is home to the lush Osprey Point Golf Course, a 27-hole layout of three nine-hole courses that consistently ranks in the

top 50 public golf courses in America. Water skiers enjoy the thrill of making waves at the on-site Water Ski Training Center, where up-and-coming and accomplished skiers hone their skills.

The Palm Beaches Spartan Sprint Weekend provides an incredible experience for visitors and residents alike. Furthermore, this event creates an economic boom for The Palm Beaches. The influx of visitors has consistently generated over 4,000 hotel room nights and nearly $3 million in total economic impact. This event is another example of why The Palm Beaches is one of the nation’s leading sports destinations, and the Palm Beach County Sports Commission is excited to support it for a fifth year.

For more information and tickets to the Palm Beaches Spartan Race, please click here

Recent News

APP Tour Showcased Top Pickleball Talent in The Palm Beaches

| APRIL 20, 2024

The Association of Pickleball Professionals (APP) Vlasic Classic in Delray Beach was a thrilling five day tournament that took place from April 3-7, 2024 and attracted traveling spectators and players alike. With 25 courts spread out across the Delray Beach Tennis Center, the tournament showcased the immense talent of over 1,000 amateur and top professional players.

This year’s tournament introduced exciting new divisions, catering to players of all ages and skill levels. The Next Gen Junior division provided a platform for budding talents to showcase their skills, while the age-specific divisions, such as the 50 plus teaming with an under 50 partner, added an extra layer of excitement to the competition. In addition to the singles, doubles, and mixed doubles events, participants also vied for glory in various age divisions and skilled level groups.

The APP tour, with a total purse exceeding $1.4 million, has solidified its position as a premier organization for pickleball enthusiasts worldwide. With 20 events spanning the nation and across international borders, the tour continues to grow in stature and popularity.

In 2024, the Association of Pickleball Professionals expanded its reach by hosting 12 tour events, including five new signature events. Among these additions were the highly anticipated APP U.S Collegiate Championship and the APP Women’s Open. The tour also introduced three Next Gen events targeting younger players, ages 16-23, along with five international events, further cementing pickleball’s status as a global sport.

American Cornhole League Successfully Hosts Season-Opener in The Palm Beaches

|

APRIL 29, 2024

The Palm Beach County Sports Commission and the American Cornhole League (ACL) partnered together to bring The Palm Beaches its very first professional cornhole event, the 2024 American Cornhole League Kick-off Battle. From April 3 to 7, 2024, the Palm Beach County Convention Center transformed into the epicenter of the sport featuring the nation’s top professional players.

The ACL Kick-off Battle served as the season-opening event of the ACL Pro Series’ nine-event schedule. The world’s 250 best cornhole players battled it out in three competition formats: Singles, Doubles, and Teams. The professionals competed for

over $100,000 in cash prizes as well as points towards their ranking at the 2024 ACL World Championships.

The ACL is the official governing body for the sport of cornhole. The ACL hosts over 25,000 tournaments per year and has an active player base of over 100,000.

In addition to professional players, the event attracted cornhole enthusiasts from across the region. Beyond the economic impact created by visiting attendees, the event also generated robust media coverage. The ACL Kick-off Battle was televised live on CBS Sports Network. The event also received television coverage on CBS and ESPN+ provided over 20 additional hours of coverage.

The Palm Beach County Sports Commission consistently hosts over 40 different sports annually. This groundbreaking partnership allowed cornhole to become a prominent addition to that roster.

Standing at 350,000-square-feet the competition’s host site, the Palm Beach County Convention Center, is one of the county’s most versatile facilities. The Convention Center transformed into a state-of-the-art cornhole venue with 90 sets of cornhole boards and four courts designed specifically for livestreaming. Located in the heart of downtown West Palm Beach, the Convention Center is conveniently located near a bustling nightlife and dining scene.

American Cornhole League Successfully Hosts Season-Opener in The Palm Beaches APR 29, 2024 NEWS

APP Tour Showcased Top Pickleball Talent in The Palm Beaches

APR 20, 2024

2195 Southern Blvd, Ste 550

West Palm Beach, FL 33406

Phone: (561) 233-3180

Fax: (561) 233-3125

info@palmbeachsports.com

Canada’s Erynn Ballard was in it to win it in the $140,000 Palm Beach County Sports Commission CSI3* Grand Prix on the grass derby field at Equestrian Village on Sunday afternoon. The culmination of three-star competition highlighted the conclusion of the third week of the 2024 ESP Spring Series, presented by Florida Coast Equipment. The Spring Series at Wellington International runs for five weeks as part of the ESP Annual Series and finishes on May 12.

In the warm-up arena, trainer Ilan Ferder told Ballard that the class was hers to win and he was proved right. She guided Coconet, a 10-year-old Oldenburg mare (Colman x Cornet’s Stern) owned by Wight Show Stables to

top a six-horse jump-off over courses designed by Andy Christiansen Jr. (USA).

“I haven’t won [a grand prix] in a long time, and a comment like that can make you grow and rise to the occasion,” said Ballard. “My plan was to go as fast as I’ve ever gone with her before, because if today was the day and I didn’t win, I wanted to lose trying to win.”

Ballard’s plan became a reality as she posted a jump-off time of 36.69 seconds, just fractions faster than runner-up Luis Fernando Larrazabal (VEN) and Condara in 36.92 seconds. Larrazabal settled for second with owner Victoria Heurtematte. Luis Francisco de Azevedo (BRA) and Collin pocketed the third-place ribbon in 38.49 seconds for owner Santa Cecilia Stables.

Coconet, the former mount of Brazilian Olympian Yuri Mansur, joined Ballard’s string at the start of 2023 and has been knocking on the door of a big win. “She was bought by The Wight Family for me to campaign and develop. They’re huge supporters of the sport and huge supporters of this partnership,” added Ballard.

“We’ve done everything right by her and she has stepped up. We used last summer’s winning round and speed classes to teach her how to run, and this year she has been my four-star, three-star horse. She’s showing us that she’s a real competitor. She belongs here.”

Coconet certainly looked like she belonged on the derby field on Sunday as she showcased her recently perfected speed against a field of 42 horses.

“She’s a real fighter, but if you look at her show record, consistency is what she’s probably most reliable for,” said Ballard, who has spent her winter in Wellington and will take two weeks off before focusing on her Olympic Games campaign.

“I love Wellington; what they do for us and what they give us I don’t think you can get anywhere else in the world. This is our team’s 16th-straight week though, so we are ready for a break,” said Ballard with a smile.

Ballard, 43, will begin her journey to Paris with two shows on home soil at Thunderbird Show Park then Spruce Meadows before heading to Europe. Her attention will also turn to newly acquired Olympic hopeful Nikka vd Bisschop the 2023 Pan American Games mount of fellow Canadian Beth Underhill, which recently joined her string in partnership with The Rein Family.

“It’s a big year for me and for Canada, so we are going to give it our best shot,” concluded Ballard.

Closing out the day on the field, Rebecca Conway won the $35,000 Keyflow Feeds USA Grand Prix aboard Con Coleur for owner Blue Hill Farm.

THIS ISSUE

Barrett-Jackson, regarded as the world’s premiere circuit collector car auction, returned to Palm Beach County last month for its annual auto auction at the South Florida Fairgrounds. The highly anticipated automotive event delivered excitement for enthusiasts, collectors, and casual spectators alike. The event was broadcast live on History Channel for seven hours. Meanwhile, FYI Network broadcast 13 hours of live coverage and 18 hours of re-aired coverage, while Barrett-Jackson’s website broadcast the entire 28.5-hour event.

Among the stars of the show was a 1977 Pontiac Firebird Trans Am that was personally owned by Burt Reynolds. The Bandit’s Bandit was carefully restored by Bandit MovieCars to Reynolds’ specifications. Every detail was thought out and discussed with Reynolds, from the correct antenna to the proper tires from the Smoky and the Bandit movie. It is the only licensed and tagged Reynolds’ Trans Am left.

The Palm Beach County Film & Television Commission was on-location and showcased the event on its social media pages. The combined posts attracted thousands of views and spotlighted the production value of this pillar event in The Palm Beaches. For television viewers and tourists, the auction offered a glimpse into the thrilling world of collector cars and automotive culture. Whether tuning in for live coverage or exploring the event in person, BarrettJackson's Palm Beach auction is a must-see for car enthusiasts of all ages.

Boynton Beach Oceanfront Park recently played host to a captivating commercial production featuring the iconic American apparel brand, Men’s Wearhouse. Over several days, the production crew captured still images and footage of models adorned in the latest designer collections. Against the backdrop of the park’s stunning beaches and scenic walkways, this picturesque setting in The Palm Beaches was transformed into a dynamic filming backdrop - an ideal canvas for showcasing the brand's attire. Accommodating the cast and crew of 30, the luxurious Waterstone Resort & Marina provided a comfortable and convenient base for the production.

With its diverse landscapes and supportive film community, the County is a world-class destination for commercial productions, offering a plethora of resources and locations to bring creative visions to life. Explore more about filming options at pbfilm.com

Prime Video recently premiered "Going Home with Tyler Cameron."

A new eight-episode series featuring the journey of The Bachelorette sensation, Tyler Cameron, as he ventures into the world of home restoration and construction. Produced by Amazon MGM Studios and ITV America's High Noon Entertainment, the hybrid reality docuseries premiered and release all episodes of its season on April 18. The show follows Cameron, who, after his mother's death, returns to Jupiter to pursue his dream of starting a construction and renovation company. With mentorship from Robb Ritch and Jessica Quintero, he builds his business from scratch. Each episode concludes with an exciting reveal of the transformation. The season finale is dedicated to transforming Tyler's late mother's house into the cherished family home she envisioned. The Palm Beach County Film and Television Commission provided permits and assistance throughout filming.

BARRETT-JACKSON LIVE AUCTION ON HISTORY CHANNEL

TYLER CAMERON’S RENOVATION SHOW

MENS WEARHOUSE HITS THE BEACH

MISSION ACCOMPLISHED IN TALLAHASSEE

Film Florida’s leadership team and industry stakeholders met with lawmakers in Tallahassee ahead of the 2024 legislative season to retain the Entertainment Industry Sales Tax Exemption (STE). The program saves productions up to 7.5% sales tax on qualified expenses. Thanks to targeted and strategic meetings, coupled with strong support from the Florida Senate and more than 300 letters of support from local industry professionals, the repeal of the STE never gained momentum. Now, Film Florida President Sandy Lighterman is urging industry professionals throughout the state to get ready for the 2025 legislative session now, asserting that “sitting back and relying on others or waiting for someone else to do the work is not an option.” Lighterman added that “June through October is the best time to meet with your local legislators because they’re at home. Visit the Film Florida website to learn how you can join and help

CELESTIAL JOURNEY AT KRAVIS CENTER

The Kravis Center for the Performing Arts is hosting “an unparalleled voyage into the cosmos” with SpaceExplorers: The Infinite exhibition, running from Tuesday, June 4, to Monday, Sept. 2. The experience invites adventurers and space enthusiasts to explore a full-scale 3D replica of the InternationalSpaceStation (ISS) and immerse themselves in the wonders of space. Visitors can roam freely inside the ISS, float alongside astronauts and behold awe-inspiring views of Earth all within the confines of the immersive exhibition. Equipped with Oculus Quest 2 VR headsets, guests enjoy a 45-minute journey, with 35 minutes spent in virtual reality. Suitable for ages 8 and up, the cosmic odyssey promises an unforgettable experience for all explorers. Tickets, starting at $25 for children and $45 for adults, offer a rare opportunity to discover the marvels of space exploration firsthand. Tickets can be purchased on the Kravis Center website

CINEMA IN THE GARDENS AT MORIKAMI

The iconic Morikami Museum and Japanese Gardens in Delray Beach will host a two-part film series featuring two compelling stories. On Sunday, May 5, at 11 a.m. the venue will screen the animated fantasy romance drama, “Weathering With You” - sponsored by The Rubens Family Foundation. Directed by Makoto Shinkai and produced by Genki Kawamura, the film follows protagonist Hodaka's journey in Tokyo, where he encounters Hina and her extraordinary ability to control the rain. On Saturday, May 18, at 1 p.m., "Hafu: The Mixed Race Experience," will screen. Sponsored by JM Family Enterprises, the documentary explores the lives of mixed-race Japanese individuals navigating the complexities of identity in Japan. Following the screening, director Megumi Nishikura and moderator Dr. Mitzi Carter will host a Q&A session. Screening tickets are $5 with paid museum admission and can be purchased online.

TAX INCENTIVES BENEFIT PBC FILMMAKERS

FloridaCommerce wants you to know about incentive programs aimed at supporting job creation and economic growth in Florida with financial support to production companies looking to grow their workforce and contribute to the local economy. The Rural Job Tax Credit Program provides incentives for businesses located within Qualified Rural Areas. In Palm Beach County, that includes Belle Glade, Pahokee and South Bay. With credits ranging from $1,000 to $1,500 per qualified employee, this program allows businesses to expand their teams while enjoying tax benefits against the Florida Corporate Income Tax or the Florida Sales and Use Tax. Similarly, the Urban Job Tax Credit Program targets job creation within designated urban areas. Areas in Palm Beach County that qualify include Delray Beach, Lake Park, Mangonia Park, Riviera Beach and West Palm Beach. Eligible businesses can receive credits ranging from $500 to $2,000 per qualified job. For details, visit pbfilm.com/flresourceprograms

Enjoy new content as we embark outdoors with Donnell McCant of Parks in The Palm Beaches, produced by AA Video and currently airing on Destination America. The series spotlights the landscapes and activities managed by PBC’s Parks and Recreation Department. New episodes premiere Saturdays at 7:30 a.m. EST through May 11. Join host Kitty Lundan for Season 2 of What’s Poppin' PBC? on WSFL-TV Channel 39. Produced by Pop Star Productions, new episodes feature posh pets, wedding venues, kids activities, and mouth-watering BBQ. Tune in on Sundays at 9:00 a.m. EST through June 30. Jetsetter Films presents Day Tripping in The Palm Beaches, a sustainable travel series hosted by Cindy Hing. Be inspired by entertaining one-day itineraries, accessible by various transportation methods. The series debuted in April on WSFL-TV, with more episodes coming in May and June. After each episode premieres on its respective network, it’s available 24/7 on demand at ThePalmBeaches.TV.

SPRING

FOCUS ON FILM

FROM SUBCULTURE TO SUBTROPIC

Subtropic Film Fest, an ascending film festival in South Florida, will embark on an exciting evolution with a new strategic partnership. Founded by José Jesús Zaragoza and Noelia Solange, the festival thrived over the past two years under the name Subculture, attracting hundreds of filmmakers to the area. The transition to the new name maintains the festival's essence while embracing inclusivity. “Subtropic Film Fest captures our region’s essence, broadening our reach across South Florida,” Zaragoza said in a release. The collaboration with Afflux Studios, including G-Star Studios and their Warner Bros. replica soundstage, is pivotal, noted festival organizers. Solange expressed gratitude to partners like Afflux and the Norton Museum of Art, recognizing their role in the festival's success. The festival pledges to elevate South Florida's filmmaking landscape by fostering opportunities for emerging talents. Explore more at subtropicff.com

CORNHOLE LIVE ON CBS NETWORK

The American Cornhole League broadcast over 30 hours of coverage from the Palm Beach Convention Center over four days during its season kickoff event.

Commentators Trey Ryder and Jeff McCarragher, alongside sideline reporter Michelle Thompson, provided viewers with a first-class production that aired on CBS Sports Network, ESPN+, YouTube, Facebook and the ACL’s official website. A special hour-long special centered around footage from the event aired on CBS. That show reached over 400 thousand viewers, according to ACL Chief Operating Officer Fred Boucherie, who said all aspects were “fantastic,” especially the production. He added that other than a producer and tech manager, all stagehands were locals, and it was one of the best crews he has worked with on the ACL tour. Around 250 players, most of whom had to fly or drive to Palm Beach County, competed. Said Boucherie, “We’re looking forward to coming back.”

REPRESENTING OSAGE AT THE OSCARS

Local resident Chad Renfro attended the 96th Oscars, gaining attention for his role as a consulting producer for Killers of the Flower Moon. Renfro collaborated with director Martin Scorsese on the film, which starred Leonardo DiCaprio and . The narrative delves into the murders of Osage Native Americans in 1920’s Oklahoma, a story that catalyzed the formation of the FBI. Renfro, originally from Pawhuska, Oklahoma, now divides his time between Ocean Ridge, Florida, and his hometown, remaining active in tribal affairs. Renfro played a crucial role in the film's production, facilitating filming in Oklahoma, securing substantial state rebates, and connecting Scorsese’s team with Osage actors and cultural experts. Renfro’s diverse contributions solidified his position as the film’s ambassador. Known for his prowess in interior design, Renfro has been a prominent figure in Palm BeachCounty since 1997.

PANAVISION OFFERS NEW FILM GRANTS

Panavision's New Filmmaker Program is a game-changer for aspiring filmmakers in the United States and Canada. Through the Equipment Grant, filmmakers gain access to top-notch film or digital camera packages at little to no cost. Paired with the Post-Production Grant, for final color and finishing services, Panavision helps filmmakers bring their vision to life. The program goes beyond resources, offering educational opportunities nationwide, covering topics like large-format cinematography and post workflows. Hands-on equipment demos and facility tours provide invaluable insight into industry practices. This holistic approach breaks down barriers and empowers a new wave of cinematic talent. For those dreaming of making their mark in the film industry, Panavision's New Filmmaker Program is the ultimate support system. Visit their website to learn more and head to the Palm Beach Film & Television Commission’s website to browse other grants for filmmakers.

FTC WELCOMES NEWEST MEMBER: JOSH HYBER, SOCIAL MEDIA & EVENTS DEVELOPER

The Palm Beach County Film and Television Commission (FTC) is proud to welcome Josh Hyber to the team as our Social Media & Events Developer. Josh is responsible for developing and implementing social media marketing strategies that promote The Palm Beaches TV and spotlight the County as a worldclass production destination. Born in New York and raised in Wellington, Josh earned a Bachelor’s in Journalism at Syracuse University, with a minor in Anthropology. Most recently he was the Social Media Manager for MorseLife Health System. Josh prides himself on being innovative in the constantly changing social media landscape and writing stories that resonate with audiences. He enjoys relaxing by a pool, reading, being the official taste-tester of his girlfriend Melissa’s delicious baking, and spending time with family - including his niece and two nephews. Learn more about the FTC team here

FILM FLASHBACK: IN HER SHOES

The 2005 heartwarming cinematic gem In Her Shoes takes viewers on a emotional journey filled with tears, laughter and life lessons. Directed by Curtis Hanson, the film stars Cameron Diaz and Toni Collette as sisters, and Shirley MacLaine as the eccentric and wise grandmother. Fox Entertainment utilized locations in Palm Beach County for 16 days in 2004 pumping nearly $10M of the $35M budget into the local economy. Scenes were filmed primarily at the Abbey Delray retirement community in Delray Beach, an elaborate party scene took place at the Oceanfront Clubhouse at Briny Breezes, and Shirley MacLaine rehearsed at Southern Dance Studios in Boynton Beach. The film is available on You Tube, Amazon Prime Video, Apple TV and Fandango at Home.

Because an airport is an active facility, all filming needs to be preapproved and is typically limited to the public areas of the airport.

North County Regional Airport is a small terminal with a tropical vibe , covered porch and rocking chairs that face the runway. The airport is popular with snowbirds and very active in the winter months. However, the airport has hosted productions for XOJet and Discovery Channel’s Airplane Repo. Located off the Beeline Highway and surrounded by woods, with a long drive onto the property that can be permitted through the County’s one-stop process for driving scenes.

EDUCATION CORNER

There are many film-friendly looks at the Palm Beach International Airport like the curbside drop-off area, interior and exterior ticketing counters, baggage claim, VIP entrance, long hallways for walk and talk, shops and restaurants, putt-putt golf, and an amazing rooftop garage that reads industrial. With angles onsite that double as a prison and an art gallery but the best feature is that there are no departures between 10:00 p.m. and 7:00 a.m. so overnight filming can take place if approved. Corporate projects like Jupiter Medical Center and NetJets have filmed recently, along with television show Pets in Paradise and indie film ReBirth utilized the administration side of the building to cheat a prison. See more airport images in the Palm Beach County Film and TelevisionCommission’s database here

SSOF WINNERS ANNOUNCED

The Palm Beaches Student Showcase of Films welcomed a full house of over 650 students, teachers, family members, and County dignitaries on April 26, 2024, at the Maltz Jupiter Theatre. Student filmmakers throughout Florida were celebrated with a red carpet pre-show and live award show. The event’s theme of Artificial Intelligence, with tech activations like Spot the Robot and a modern, interactive LED photo wall. WFLX FOX 29’s South Florida Daily along with Kitty Lundan and other local news stations captured coverage of student interviews and previews of the award show. Frank Licari, stage and screen actor, producer, and host of the South Florida PBS series On The Town in The Palm Beaches with Frank Licari, opened the show with his version of AI, showcasing virtually curated versions of judges and presenters.

A total of 93 high schools and colleges from around the state were represented, with a record-breaking number of 529 entries that were judged by 47 industry professionals around the world. A total of 35 finalists including 16 winners were presented with over $28,000 in cash prizes and awards at the live show. For more information on the event check out the press releases online, and follow Student Showcase of Films on social platforms like Facebook @StudentShowcaseOfFilms, on Instagram @StudentFilmsFL and on X @StudentFilmsFL and stay up to date on information for next year’s 30th Anniversary.

Production Activity Report For March 2024

Variance Explanations

Percentage change variances of ± 10% in performance statistics are explained in this section.

1. Hotel Room Nights: The 33% YTD decrease in Total Hotel Room Nights is due to the Going Home with Tyler Cameron project, which filmed for roughly seven months and generated hundreds of hotel room nights each month, including January, February and March 2023. In fact, that production utilized 669 room nights in March 2023, which accounts for the YTD decrease

2. Total Leads: The 22% increase in Total Leads is a result of reporting self-generated Leads for the sponsorship and development program (The Palm Beaches TV) and WFLX’s South Florida Daily show As previously reported, FTC Staff has been actively providing sponsored productions with strategic location leads and suggestions. These Leads are based on the latest marketing initiatives across all TDC agencies. These efforts continue to drive the ongoing growth in this category.

3. Lead Responses: The 22% increase in total leads goes hand in hand with the increase in total leads as described above.

4. Lead Conversions: 189% YTD increase in Lead Conversions is a testament to Staff’s efforts to generate viable Leads, driving business to Palm Beach County and creating marketing opportunities for The Palm Beaches and its local businesses. In addition to strategically generating Leads, Staff is also diligently following up on each lead to confirm whether Leads converted into production-related business for the County. While Lead Conversions are up a staggering 189%, our conversion rate is currently at 73% with 52 of the 71 Leads captured in 2024 turning into on-location production in The Palm Beaches.

5. WebsiteUniqueVisitors:A32%YTDincrease,whichisa51-percentage-pointincreaseovertheprevious month, is due to sponsored digital campaigns, driving traffic back to the websites. Meanwhile, Staff continues to develop new digital campaigns aimed to increase traffic to www.pbfilm.com and www.thepalmbeaches.tv

Three

West Palm Beach Green Market and its surrounding areas of the Clematis Street walking area , South Flagler Drive , and across from the Amphitheater along the water front walking area , N. & S. Narcissus Ave , The corner of Banyan and N. Narcissus in front of The Ben Hotel , Datura Street , and South Olive Ave

Boca Raton, Delray Beach, Boynton Beach, Lake Worth, West Boca High School, Loggers Run

Boca Raton, Delray Beach, Boynton Beach, Lake Worth, West Boca High School,

Boca Raton, Delray Beach, Boynton Beach, Lake Worth, West Boca High School, Loggers Run Middle

Meadows

NW

24-062

BiCentennial Park in Riveria Beach (also referred to a Marina Village). Riveria Beach Municipal Beach, Coral Cove Park and Ocean Reef Park in singer Island. Jupiter Beach Park, DuBois Park located along the southern edge of the Jupiter Inlet Waterway.

Peanut Island directly to the east

BiCentennial Park in Riveria Beach (also referred to a Marina Village). Riveria Beach Municipal Beach, Coral Cove Park and Ocean Reef Park in singer Island. Jupiter Beach Park, DuBois Park located along the southern edge of the Jupiter Inlet Waterway.

Peanut Island directly to the east lots of coconut palms and a little lagoon.

BiCentennial Park in Riveria Beach (also referred to a Marina Village). Riveria Beach Municipal Beach, Coral Cove Park and Ocean Reef Park in singer Island. Jupiter Beach Park, DuBois Park located along the southern edge of the Jupiter Inlet Waterway.

Peanut Island directly to the east lots of coconut palms and a little lagoon.

BiCentennial Park in Riveria Beach (also referred to a Marina Village). Riveria Beach Municipal Beach, Coral Cove Park and Ocean Reef Park in singer Island. Jupiter Beach Park, DuBois Park located along the southern edge of the Jupiter Inlet Waterway.

Peanut Island directly to the east lots of coconut palms and a little lagoon.

BiCentennial Park in Riveria Beach (also referred to a Marina Village). Riveria Beach Municipal Beach, Coral Cove Park and Ocean Reef Park in singer Island. Jupiter Beach Park, DuBois Park located along the southern edge of the Jupiter Inlet Waterway.

Peanut Island directly to the east lots of coconut palms and a little lagoon.

BiCentennial Park in Riveria Beach (also referred to a Marina Village). Riveria Beach Municipal Beach, Coral Cove Park and Ocean Reef Park in singer Island. Jupiter Beach Park, DuBois Park located along the southern edge of the Jupiter Inlet Waterway.

Peanut Island directly to the east lots of coconut palms and a little lagoon.

March 2024 Production Companies & Support Services

$13,811,683 $13,693,185 $13,811,683 $27,504,868

Months Ending March 2024

REVENUE

REVENUE

OPERATING EXPENSES

Palm Beach Convention Center

FINANCIAL OPERATIONS ANALYSIS REPORT-PRIOR YEAR COMPARISON For the Six Months Ending March 2024

TDC Marketing Report – May 2024

Social Media

Social Media Followers

Facebook - 8,865 (March) to 8,851 (April)

Instagram - 3,356 (March) to 3,385 (April)

LinkedIn - 829 (March) to 856 (April)

Instagram Monthly Total

Interactions – 176 (March) to 169 (April)

Impressions - 5,506 (March) to 3,997 (April)

Reach – 980 (March) to 906 (April)

Generate Profile Visits - 469 (March) to 295 (April)

Facebook Monthly Total

People Reached - 1,462 (March) to 1,068 (April)

Post Engagements - 17,361 (March) to 14,189 (April)

Page Likes - 12 (March) to 10 (April)

LinkedIn

Profile Views - 66 (March) to 73 (April)

Engagements - 125 (March) to 109 (April)

Impressions - 2,823 (March) to 4,391 (April)

Connections - 571 (March) to 586 (April)

WIFI Analytics - Purple

Engagement Overview

Imperial Brands back at Summit of Americas with cross-category portfolio - TRBusiness [google.com]

TRBusiness Palm Beach County Convention Center, West Palm Beach, Florida, will discover the likes of Backwoods, USA Gold, Winston and Kool and international

Questex's International Beauty Show (IBS) and International - GlobeNewswire [google.com] GlobeNewswire IECSC Florida, October 13-14, 2024 at the Palm Beach County Convention Center in West Palm Beach, Florida. Visit iecscflorida.com for more

Tucker Carlson introduces Kid Rock as the Rock the Country tour of small towns in the South ... [google.com] Gonzales Weekly Citizen Tucker Carlson speaks during Turning Point Action general session at the Palm Beach County Convention Center. The 54-year-old commentator had been

Nestlé Travel Retail International talks exclusivity, sustainability at Summit of the Americas [google.com] Snack Food & Wholesale Bakery Palm Beach County Convention Center, West Palm Beach, Florida, April 14–17 (Booth 101/102). The Summit reportedly offers the ideal venue for the..

The Hershey Company to unveil US travel retail-exclusives at Summit of the Americas [google.com]

Moodie Davitt Report The event takes place from 14 to 17 April at Palm Beach County Convention Center, Florida. The company is extending its Hershey's Kisses range.

The Hershey Company unveils new Hershey's Kisses Patriotic Editions - TRBusiness [google.com] TRBusiness ... Palm Beach County Convention Center. Inspired by its renewed partnership with Team USA, the company is introducing two formats of the Hershey's

Steve Ross' Related to Build $300M West Palm Beach Hotel - The Real Deal [google.com]

The Real Deal The hotel will add capacity for West Palm Beach's convention center, which the county hopes can attract larger professional events in the coming years

Related Cos. to build Palm Beach County Convention Center's next hotel [google.com] The Palm Beach Post Rendering of proposed Signia by Hilton hotel at the Palm Beach County Convention Center in West. In its proposal, Related said 600 rooms would be too

1 Republican, 1 Democrat quit legislative races after court challenge - Arizona Capitol Times [google.com] Arizona Capitol Times Palm Beach County Convention Center in West Palm Beach, Fla. PHOTO BY GAGE SKIDMORE. Home>legislature>. 1 Republican, 1 Democrat quit legislative

Related Cos. Scores Approvals for Convention Center Hotel in West Palm [google.com]

Commercial Observer The 20-story project will feature 404 rooms at 900 South Rosemary Avenue, east of the 1.1 million-squarefoot Palm Beach County Convention Center. The

Extreme apocalyptic rhetoric is everywhere - Alternet.org [google.com]

Alternet Steve Bannon speaking with attendees at the 2023 Turning Point Action Conference at the Palm Beach County Convention Center in West Palm Beach,

Diocese of Palm Beach news briefs April 26, 2024 - Florida Catholic [google.com]

Florida Catholic The Community Choice Awards Gala was recently held at the Palm Beach County Convention Center in West Palm Beach. In a news release from the

The agony of the gasbag - Alternet.org [google.com]

Alternet ... Palm Beach County Convention Center in West Palm Beach, Florida. Image via Gage Skidmore. Claire Bond Potter. April 23, 2024. This article was paid ...

DEFINITE Room Rental by Month - FY 2024

April 2024 Project Status Report

Department of Environmental Resources Management

Lake Worth Lagoon Tour: ERM staff hosted a boat tour of the Lake Worth Lagoon (LWL) for FWC staff to share updates on the projects the two agencies have collaborated on The conversation included lessons learned on restoration island construction, the success of engineered bird nesting habitat, and ongoing issues with maintenance, oyster recruitment, and water quality Projects visited included Bryant Park, Snook Islands Natural Area, Grassy Flats, Tarpon Cove, Palm Beach Resilient Island, South Cove Natural Area, Old Bridge Park/Jewell Cove, and the future location of Bonefish Cove

Florida Greenways and Trails System Designation:

The Florida Greenways and Trails Council recently approved the designation of Acreage Pines Natural Area (ACP) as part of the Florida Greenways and Trails System (FGTS) The FGTS designation will help raise public awareness of ACP’s conservation and recreational benefits. ACP is the eighth County owned and managed natural area to receive the FGTS designation Palm Beach County now has more FGTS designated sites than any other County or municipality in Florida For more information on the FGTS, see: https://floridadep gov/parks/ogt/content/designations

AAUS Conference Dive at Blue Heron Bridge:

During the 2024 American Academy of Underwater Sciences Diving for Science Symposium in Fort Pierce, ERM staff partnered with FWC Artificial Reef Program Administrator Keith Mille and members of the Reef Research Team to host a shore dive on the artificial reef modules placed at Blue Heron Bridge. Scientific divers came from places around the globe, such as California, Chicago, and even Croatia, to attend the conference and experience the vibrant and unique marine environment in South Florida. It was a great opportunity to educate other scientific divers on the local nearshore habitat, which is enhanced by the artificial reef modules managed by ERM

Palm Beach County Board of County Commissioners

Maria Sachs, Mayor, Maria G. Marino, Vice Mayor, Gregg K. Weiss, Michael A. Barnett, Marci Woodward, Sara Baxter, Mack Bernard

LAKE WORTH LAGOON

REEF MODULE

Sea Turtle Field Work: ERM staff manages multiple contracts with local sea turtle research organizations. This month, ERM staff assisted Inwater Research Group (IRG) in conducting sea turtle abundance surveys in the northern segment of LWL During these surveys, turtles were captured, measured, weighed, photographed, and tagged prior to release. These efforts help staff to learn more about the LWL sea turtle population Additionally, ERM staff joined Loggerhead Marinelife Center (LMC) on a morning nesting survey Nesting surveys provide data on sea turtle nesting success rates and hatchling success rates, which inform conservation efforts and beach restoration initiatives. These working relationships provide valuable information to enhance ERM's mission as well as to help protect endangered sea turtles in Palm Beach County

AERIAL IGNITION PRESCRIBED BURN

LWL Working Group Meeting: Join us on May 14th at 9 a.m. at the South Florida Water Management District headquarters B1 auditorium for the next Lake Worth Lagoon Initiative Working Group meeting to learn about the latest monitoring, restoration, and outreach efforts in the Lagoon! The meeting will include presentations on seagrass, sea turtles, water quality, and citizen science.

Aerial Ignition Prescribed Burn: ERM staff took advantage of weather and vegetative fuel conditions this month to complete an aerial ignition prescribed burn at Pine Glades Natural Area Staff utilized a contracted helicopter with a specialized device borrowed from the South Florida Water Management District to drop plastic incendiary spheres over 1,553 acres The helicopter allows for a larger, safer, and more efficient burn

Coastal Clean-up at South Cove: ERM staff partnered with Florida Fish and Wildlife Conservation Commission (FWC) staff to assist in the 2024 Earth Day Coastal Cleanup event hosted by Visit Palm Beach, Beach Bucket Foundation, and Keep West Palm Beach Beautiful. During the event, 96 volunteers collected 382 pounds of trash from the Downtown West Palm Beach Waterfront and South Cove Natural Area

Adventure Awaits: Register NOW for a FREE event at PBCERM.EVENTBRITE.COM!

UPCOMING ERM EVENTS

• May 8: PLANT THIS, NOT THAT at North Jupiter Flatwoods

• May 21: WANDERING THROUGH THE WILDFLOWERS at Frenchman’s Forest

• May 23: iNATURALIST FOR BEGINNERS WORKSHOP at Vista Parkway

• May 25: GROWING UP WILD – SWAMP TROMP at Cypress Creek

• May 30: INVASIVE WEEDS REMOVAL CREW at Rosemary Scrub

Palm Beach County Board of County Commissioners

SEA TURTLE NESTING SURVEY

SEA TURTLE ABUNDANCE SURVEY

PALM BEACH INTERNATIONAL AIRPORT

TRAFFIC

REPORT for the period ended March 2024

(1) Estimated Seat Capacity; Adjusted Innovata/OAG Scheduled seats, actual capacity may vary

(2) Percentage Change in load factor is stated in absolute difference

(3) Freight plus mail in US Tons

(4) Landings plus Takeoffs, includes cargo carriers

(5) Per FAA Tower

Palm Beach County Department of Airports

846 PBIA, West Palm Beach , FL 33406-1470 www.pbia.org

PALM BEACH INTERNATIONAL AIRPORT

ENPLANEMENT TRAFFIC REPORT for the period ended March 2024 Airline

PALM BEACH INTERNATIONAL AIRPORT

TRAFFIC REPORT

for the period ended March 2024

Change in Enplanements by Airline

AIRPORTS COUNCIL INTERNATIONAL

Monthly Airport Traffic Statistics

West Palm Beach, Florida, United States of America Palm Beach International Airport for the period ended March 2024

* Per FAA Tower ** In metric tons as required by ACI reporting standards includes Mail plus Freight

PBCFTC Olympusat

DPBC-Simpleview, LLC Web Based Services R2022-0636

DPBC-Zimmerman, LLC R2018-1121 -Creative Design

FY2023 CONTRACT TRACKING REPORT

SUBCONTRACTS

118,000 annually Pd in monthly installments

annually pd mo. $70,000

DPBC-Madden Preprint Media, LLC Website Design $146,650 phase 1 $98,760 phase 2 Pd monthly at $8,230

DPBC-Zimmerman Agency LLC R2018-1120 Public Relations

@ $16,000 mo. optional services not to

1- 5yr. agreement

2yr agreement with 2 additional 2yr. renewals

one (1) 2-yr renewal one (1) 1-yr renewal with ext. for COVID

exceed $58,000 for a total

R2021-0160 of $250,000

Culture-Push, Inc.

Marketing Services $201,000 annual fee not to

1

with 2, 2yr.

(R2021-0401) (R2022-0788) exceed $300,000 including travel and other out-of-pocket 10/1/22 9/30/2024 2nd renewal of 2yrs

DPBC-Professional

Convention Management Association (PCMA) (sole Source)

DPBC-Brand

CONVENTION CENTER

CC-F&B Oakview Group (OVG)

(2022-0948)

Management

DPBC - FOREIGN MARKETING

DPBC-AviaReps

2/18/21 9/30/21 10/1/21 10/1/22 2/1/23 9/30/24 2nd of 4-1yr renewals 3rd of 4-1yr renewals

– 1yr

PALM BEACH COUNTY SPORTS COMMISSION, INC.

County Contract Budget vs. Actual Unaudited through December 31, 2023

Tourist

BEACH COUNTY

Lead Palm Beach County's tourism marketing program by serving as expert to the cultural sector, stewarding funds and strategies that attract key audiences.

Generate hotel room nights in Palm Beach County related to cultural tourism.

Increase awareness of Palm Beach County as a cultural destination through integrated advertising, marketing and public relations efforts.

Expand co-op opportunities for cultural organization partners and hotels to increase their reach and market the destination.

Promote the Robert M. Montgomery, Jr. building as a cultural destination and informational hub for the county.

PALM BEACH COUNTY

Tourist Development Council

Cultural Council of Palm Beach County Semi-Annual Performance Measures

PERFORMANCE

(total)

PALM BEACH COUNTY

Tourist Development Council Sports Commission Semi-Annual Performance Measures

Collect and monitor production revenue (dollars spent in PBC)

Provide professional assistance to other projects not required

unique visitors to the

* Each unit represents a half-hour TV show sponsored through the FTC's

PALM BEACH COUNTY

Tourist Development Council

Film Television Commission

Semi- Annual Performance Measures

5. OLD BUSINESS

To: Tourist Development Council

Fr: Emanuel Perry EP

Date: May 06, 2024

Topic: TDC Dashboard May Report–Activity March and FYTD 2024

Bed Tax Collections:

March 2024 collected in April @ $14.2M compared to the same month last year @ 12.0M, an increase of 18%. Actual March was 23% above Budget and 22% above the prior month @ $11.6M. Actual March was 24% higher than 2022. Revenue from non-hotels continue to support Bed Tax Collection.

FYTD 2024 Collections @ $58M, were higher than last fiscal year to date $56.5M by 3%.

Fiscal Year to Date collections @ $58M is 7% above the Approved Budget. FYTD 2024 collections of $58M, 16% higher than FYTD 2022 collections.

Highlights Key Room Metrics:

Rooms Sold for March

(1%) Lower than Last Year Rooms Available for March

Hotel Rooms Active Today in the County 19,136

Occupancy March 2024

1% Higher than Last Year

80.9% (2%) Down over Last Year

Occupancy March 2023 82.6%

Room Net Sales FY24 Year over Year Mar

Hotel Room Sales FY24 Year over Year Mar

the prior Mar by (0.1%)

1% @ $173M vs $171M

25% @ $38M vs $30M Hotel Room Net Sales FYTD 2024

Hotel Room Sales FYTD 2024

(1%) @ $775M vs $785M

20% @ $182M vs $151M

FYTD 2024 Taxable Revenues Fiscal Year over FY2023 Increased 2% @ $956M vs $936M

FYTD 2024 Taxable Revenues Fiscal Year over FY2022

Palm Beach International Traffic: Total Passengers Mar. 2024

PBI Passengers 12 Month Rolling

16% @ $956M vs $825M

10% Higher than Mar. 2023

than Mar. 2023

14% Increase to last year same period

Leisure & Hospitality Employment for Mar. 97,900 (1%) Lower than the same month last year Hotel Employment 11,500 (3%) Lower than last year F&B

2% Higher than last year Arts & Entertainment

(5%) Lower than last year

Tourist Development Council Dashboard

Current Month 2024 vs. 2023 Fiscal Month 5.A.1

$225,000,000

$200,000,000

$175,000,000

$150,000,000

$125,000,000

$100,000,000

$75,000,000

$50,000,000

$25,000,000

Monthly Gross Bed Taxes Collections (All)

$16,000,000

$14,000,000

$12,000,000

$10,000,000

$171,299,797 $172,582,792

$30,287,286 $37,933,919 $0

$8,000,000

$6,000,000

$4,000,000

$2,000,000

March 2024 Net Hotel Sales increased 1% over Last Year Non-Hotel Sales increased 25% over Last Year April Collections for March 2024 increased 18% over Last Year. Over last Month increased 22%; 23% above Budget

Gross Monthly Room Nights Sold

Gross Room Nights Available

March 2024 Hotel Room Nights Sold decreased (1%) over the same month Last Year. March 2024 Hotel Room Nights Available for Sale increased 1% over Last Year. 19,136 Rooms Open.

Monthly PBIA Passengers

Monthly PBIA Passenger Capacity

Tourist Development Council Dashboard

Fiscal Year 2024 vs. 2023 5.A.1

$1,200,000,000

$1,000,000,000

$40,000,000

$30,000,000

Gross Bed Taxes Collections (All)

PBI Passengers 12 Mth Rolling Total

Tourist Development Council Dashboard

Net Rental Revenue

$200,000,000

$175,000,000

$150,000,000

$125,000,000

$100,000,000

$75,000,000

$50,000,000

$25,000,000

March

$16,000,000

$14,000,000

$12,000,000

$10,000,000

$8,000,000

$6,000,000

March 2024 Hotel Room Nights Sold increased 2% over March 2022.

April Collections for March 2024 were 24% above March 2022 and 18% above March 2023.

March 2024 Hotel Room Nights Available for Sale increased 4% over March 2022. 19,136 Rooms Open.

Tourist Development Council Dashboard

$1,200,000,000

$1,000,000,000

$800,000,000

$600,000,000

$400,000,000

$200,000,000

$694,780,994

$70,000,000

$60,000,000

$50,000,000

$40,000,000

$30,000,000

$20,000,000

GROSS COLLECTIONS

NET COLLECTIONS

April 19, 2024

TO: Mayor Sachs & TDC Board Members

FROM: Emanuel Perry Executive Director, TDC

SUBJECT: Allocation of 1st & 4th Cent for Tourist Development Tax

The Tourist Development Tax, which imposes a levy on overnight stays for up to six months, has been instrumental in marketing and funding various initiatives aimed at enhancing the tourism infrastructure and attractions in our County. Under the current County Ordinance No. 2015-023 the 1st & 4th Cent allocation specifically earmarks 33% of all revenues collected to be used:

• To plan, design and construct, extend, enlarge, remodel, repair, and/or improve a convention center and professional sports franchise facilities.

• For debt service relating to bonds issued to finance the construction of professional sports franchise facilities and a convention center; and for the planning and design costs incurred prior to the issuance of such bonds.

• For operational and maintenance cost of a convention center.

Any additional uses for the 1st & 4th Cent would require approval by the Board of County Commissioners in accordance with F.S. 125.0104 Tourist Development Tax.

The reserve projections for the 1st & 4th cent allocation with a 2% increase in revenue YOY are as follows: Year: 2025 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 *Rev: $84M $86M $88M $89M $91M $93M $95M $96M $98M $100M $102M *Res: $52M $58M $67M $74M $81M $86M $90M $93M $98M $99M 105M

Notes:

*Rev = Revenue Projections

*Res = Revenues minus Expense = Reserves

Please be advised the projected reserve positions takes in account the following:

• Convention Center Bond Expiration in 2031

• Roger Dean Stadium Renovations allocations start in 2032

• Convention Center Garage Bond Expiration in 2036

• Insurance premiums for the following assets increasing by 10% YOY

o Roger Dean Stadium

o Cacti Park of the Palm Beaches

• Increasing the R&R by $1M each year to support tourism assets:

o Convention Center

o Convention Center Garage

o Roger Dean Stadium

o Cacti Park of the Palm Beaches

6. NEW BUSINESS

Palm Beach County Sports Commission

Mark Escoffery, P.A.

Accountant

8645 N. Military Trail

Suite 503

Palm Beach Gardens, FL 33410

March 27, 2024

Palm Beach County Sports Commission, Inc. 2195 Southern Boulevard, Suite 550 West Palm Beach, FL 33406

We have audited the financial statements of Palm Beach County Sports Commission, Inc. for the year ended September 30, 2023, and have issued our report thereon dated March 18, 2024. Professional standards require that we provide you with information about our responsibilities under generally accepted auditing standards, as well as certain information related to the planned scope and timing of our audit. We have communicated such information in our engagement letter dated October 24, 2023. Professional standards also require that we communicate to you the following information related to our audit.

Qualitative Aspects of Accounting Practices,

You are responsible for the selection and use of appropriate accounting policies. The significant accounting policies used by Palm Beach County Sports Commission Inc. are described in Note 1 to the financial statements. No new accounting policies were adopted, and the application of existing policies was not changed during the year. We noted no transactions entered into by the Company during the year for which there is a lack of authoritative guidance or consensus. All significant transactions have been recognized in the financial statements in the proper period.

Accounting estimates are an integral part of the financial statements and are based on your knowledge and experience about past and current events and assumptions about future events. Certain accounting estimates are particularly sensitive because of their significance to the financial statements and because of the possibility that future events affecting them may differ significantly from those expected. The most sensitive estimate affecting the financial statements was:

Your estimate of the allocation of functional expenses is based on time and effort observed and measured by management. We evaluated the key factors and assumptions used to develop the allocation of expenses tin determining that it is reasonable in relation to the financial statements taken as a whole.

There were no other financial statement disclosures which are particularly sensitive because of their significance to financial statement users.

The financial statement disclosures are neutral, consistent, and clear.

Difficulties Encountered in Performing the Audit

We encountered no significant difficulties in performing and completing our audit.

Uncorrected Misstatements

Professional standards require us to accumulate all misstatements identified during the audit, other than those that are clearly trivial, and communicate them to the appropriate level of management. We did not find any misstatements.

Disagreements with Management

For purposes of this letter, a disagreement with management is a financial accounting, reporting, or auditing matter, whether resolved to our satisfaction, that could be significant to the financial statements or the auditor’s report. We are pleased to report that no such disagreements arose during our audit.

Other Audit Findings or Issues

There were no other audit findings or issues.

Other Matters

This information is intended solely for the use of Palm Beach County Sports Commission, Inc. and those charged with governance and is not intended to be, and should not be, used by anyone other than these specified parties.

Very truly yours,

Mark Escoffery, P.A.

INDEPENDENT AUDITOR’S REPORT AND FINANCIAL STATEMENTS

FOR THE YEARS ENDED SEPTEMBER 30, 2023 AND 2022

PALM BEACH COUNTY SPORTS COMMISSION, INC.

PALM BEACH COUNTY SPORTS COMMISSION, INC.

8645 N. Military Trail

Suite 503

Palm Beach Gardens, FL 33410

Mark Escoffery, P.A.

Certified

Public Accountant

INDEPENDENT AUDITOR’S REPORT

To The Board of Directors

Palm Beach County Sports Commission, Inc.

West Palm Beach, Florida

Opinion

I have audited the accompanying Financial Statements of Palm Beach County Sports Commission, Inc., (‘the Organization”) (a not-for-profit organization) which comprise the Statements of Financial Position as of September 30, 2023 and 2022, and the related Statements of Activities, Functional Expenses and Cash Flows for the years then ended, and the related notes to the financial statements.

In my opinion, the financial statements referred to above present fairly, in all material respects, the financial position of the Organization as of September 30, 2023 and 2022 and the changes in its net assets and its cash flows for the years then ended in accordance with accounting principles generally accepted in the United States of America.

Basis for Opinion

I conducted my audit in accordance with auditing standards generally accepted in the United States of America. My responsibilities under those standards are further described in the Auditor’s Responsibilities for the Audit of the Financial Statements section of my report. I am required to be independent of Palm Beach County Sports Commission, Inc. and to meet my other ethical responsibilities in accordance with the relevant ethical requirements relating to my audit. I believe that the audit evidence I have obtained is sufficient and appropriate to provide a basis for my audit opinion.

Responsibilities of Management for the Financial Statements

Management is responsible for the preparation and fair presentation of the financial statements in accordance with accounting principles generally accepted in the United States of America, and for the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, management is required to evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about Palm Beach County Sports Commission, Inc.’s ability to continue as a going concern within one year after the date that the financial statements are available to be issued.

Auditor’s

Responsibilities for the Audit of the Financial Statements

My objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes my opinion. Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not a guarantee that an audit conducted in accordance with generally accepted auditing standards will always detect a material misstatement when it exists.

The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Misstatements are considered material if there is a substantial likelihood that, individually or in aggregate, they would influence the judgment made by a reasonable user based on the financial statements.

In performing an audit in accordance with generally accepted auditing standards, I:

 Exercise professional judgment and maintain professional skepticism throughout the audit.

 Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and design and perform audit procedures responsive to those risks. Such procedures include examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements.

 Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of Palm Beach County Sports Commission, Inc.'s internal control. Accordingly, no such opinion is expressed.

 Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluate the overall presentation of the financial statements.

 Conclude whether, in our judgment, there are conditions or events, considered in the aggregate, that raise substantial doubt about Palm Beach County Sports Commission, Inc.'s ability to continue as a going concern for a reasonable period of time.

I am required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit, significant audit findings, and certain internal control related matters that I identified during the audit.

Other Reporting Required by Government Auditing Standards

In accordance with Government Auditing Standards, I have also issued my report dated March 18, 2024, on my consideration of Palm Beach County Sports Commission, Inc.’s internal control over financial reporting and on my tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements and other matters. The purpose of that report is to describe the scope of my testing of internal control over financial reporting and compliance and the results of that testing and not to provide an opinion on the internal control over financial reporting or on compliance. That report is an integral part of an audit performed in accordance with Government Auditing Standards in considering the Organization’s internal control over financial reporting and compliance.

Palm Beach Gardens, Florida March 18, 2024

PALM BEACH COUNTY SPORTS COMMISSION, INC. STATEMENT OF FINANCIAL POSITION AS OF SEPTEMBER 30, 2023 AND 2022

BEACH COUNTY SPORTS COMMISSION, INC. STATEMENT OF ACTIVITIES FOR THE YEARS ENDED SEPTEMBER 30, 2023 AND 2022

PALM BEACH COUNTY SPORTS COMMISSION, INC. STATEMENT OF FUNCTIONAL EXPENSES

FOR THE YEARS ENDED SEPTEMBER 30, 2023 AND 2022

PALM BEACH COUNTY SPORTS COMMISSION, INC. STATEMENT OF FUNCTIONAL EXPENSES FOR THE YEARS ENDED SEPTEMBER 30, 2023 AND 2022

PALM BEACH COUNTY SPORTS COMMISSION, INC. STATEMENT OF CASH FLOWS

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEARS ENDED SEPTEMBER 30, 2023 AND 2022

NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Nature of Activities

The Palm Beach County Sports Commission, Inc. ("the Commission") is a Florida based not-forprofit organization that has a contractual agreement (Note 2) with Palm Beach County, Florida (A Political Subdivision of the State of Florida) ("the County") dedicated to attracting and supporting tourism to the County through sports promotion and events. The Commission also (through its private “non-contract” support) promotes youth sports in the County. Both “contract” and “noncontract” activities utilize local facilities, create hotel room nights, and have a positive economic impact on the County.

Comparable Financial Information

The Financial Statements include certain prior year summarized comparative information in total but not by net asset class. Such information does not include sufficient detail to constitute a presentation in conformity with accounting principles generally accepted in the United States of America. Accordingly, such information should be read in conjunction with the financial statements for the year ended September 30, 2022, from which the summarized information was derived. Certain 2022 amounts may be reclassified to conform to 2023 classifications. Such reclassifications had no effect on the change in net assets as previously reported.

Basis of Presentation

The Commission's financial statements are prepared on the accrual basis of accounting and in accordance with the Financial Accounting Standards Board (FASB) Accounting Standards Update (ASU) 2016-14 (Topic 958), and the provisions of the American Institute of Certified Public Accountants (AICPA) "Audit and Accounting Guide for Not-for-Profit Organizations."

Net assets and revenue, expenses, gains, and losses are classified based on the existence or absence of donor-imposed restrictions. Accordingly, net assets of the Organization and changes therein are classified as follows:

Net assets without donor restrictions: Net assets that are not subject to donor-imposed restrictions and may be expended for any purpose in performing the primary objectives of the Organization. The Organization's board may designate assets without restrictions for specific operational purposes from time to time. The Commission releases any purpose restrictions when the asset is in place in service for the use stipulated by the donor (e.g., grantors).

Net assets with donor restrictions: Net assets subject to stipulations imposed by donors. Some donor restrictions are temporary in nature; those restrictions will be met by actions of the Organization and/or by the passage of time.

Revenue is reported as an increase in net assets without donor restrictions unless use of the related assets is limited by donor-imposed or contractual restrictions. Expenses are reported as decreases in net assets without donor restrictions.

PALM BEACH COUNTY SPORTS COMMISSION, INC.

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEARS ENDED SEPTEMBER 30, 2023 AND 2022

NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Cont'd.)

Cash and Cash Equivalents

Cash equivalents consist of short-term highly liquid investments which are readily convertible into cash within ninety days of purchase.

Accounts Receivable

Accounts receivables are carried at the amount of the commitment expected to be recovered. Receivables are written off when deemed uncollectible. Recoveries of receivables previously written off are recorded when received. Management does not believe an allowance for bad debts is necessary, and none is provided.

Inventory

Inventory consists of items donated and are recorded at fair market value.

Refundable Advance

As part of the Commission's contract with the County beginning in 2017 the Commission received refundable advances to be used for operating expenses. The total refundable advance as of September 30, 2023, is $600,000 and accordingly a liability is recorded in the same amount.

Contributions

All contributions are available for unrestricted use, unless specifically restricted by the donor. Amounts designated for future periods or restricted by the donor for specific purposes are reported as contributions with donor restrictions.

Support that is restricted by the donor is reported as an increase in net assets if the restriction expires in the reporting period in which the support is recognized. All other donor restricted support is reported as an increase in net assets with donor restrictions, depending on the nature of the restrictions. When a donor restriction expires (that is, when a stipulated time restriction ends, or purpose restriction is accomplished) net assets with donor restrictions are reclassified to unrestricted net assets and reported in the Statement of Activities as net assets released from restrictions.

Concentration of Credit Risk

Financial instruments that subject the Commission to concentrations of credit risk include cash. While the Commission attempts to limit its financial exposure, its deposit balances have at times exceeded federally insured limits. The Commission maintains accounts at institutions insured by the Federal Deposit Insurance Corporation (FDIC) up to $250,000. The Commission has not experienced any losses on such balances.

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEARS ENDED SEPTEMBER 30, 2023 AND 2022

NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Cont'd.)

Donated Services and In-Kind Contributions

The Commission records goods and services contributed by volunteers as support and expenses if they meet the criteria for measurement. Contributed goods are recorded at fair value at the date of donation. Donated services are recognized as contributions if the services (a) create or enhance nonfinancial assets or (b) require specialized skills, are performed by people with those skills, and would otherwise be purchased by the Commission. Donated goods, services, and certain operating expenses paid on behalf of the Commission (Note 7).

Functional Allocation of Expenses

The costs of program services and supporting activities have been summarized on a functional basis in the Statements of Activities. Program services are the costs that fulfill the purpose or mission for which the Commission exists. Supporting activities are all activities, other than program services, that include management and general expenses and fundraising expenses.

The Statement of Functional Expenses presents detail of the natural classification of expenses by function. Accordingly, certain costs have been allocated among programs and supporting activities benefited based on estimates of time and effort.

Use of Estimates

The preparation of financial statements in conformity with generally accepted accounting principles include the use of estimates that affect the financial statements. Those estimates and assumptions affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities, and the reported revenue and expenses. Accordingly, actual results could differ from those estimates.

Income Taxes

The Commission is a tax-exempt organization under Section 501(c)(3) of the Internal Revenue Code. However, income from certain activities not directly related to the Commission's taxexempt purpose is subject to taxation as unrelated business income. Management does not believe any income tax is due and there is no provision for taxes in these financial statements.

The Commission's Form 990, Return of Organization Exempt from Income Tax, for the years ended September 30, 2022, 2021, and 2020 are subject to examination by the IRS, generally for three years after being filed. There are no current examinations by the Internal Revenue Service.

Advertising

The Commission's advertising is primarily non-direct, and such costs are expensed as incurred. For the years ended September 30, 2023 and 2022, the Commission incurred approximately $169,905 and $63,939, respectively, in advertising costs, which are reported as advertising in the Statement of Functional Expenses.

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEARS ENDED SEPTEMBER 30, 2023 AND 2022

NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Cont'd.)

Recently Adopted Accounting Policies

Effective October 1, 2022, the Commission adopted FASB ASC 842, Leases. The new standard establishes a right of use (ROU) model that requires a lessee to record an ROU asset and a lease liability on the balance sheet for all leases with terms longer than 12 months. Leases with a term of less than 12 months will not record a right of use asset and lease liability and the payments will be recognized into profit or loss on a straight-line basis over the lease term.

The Commission elected to adopt FASB ASC 842, Leases, using the optional transition method that allows the Commission to initially apply the new leases standard at the adoption date and recognize a cumulative effect adjustment to the opening balance of net assets in the period of adoption.

The Commission elected to adopt the package of practical expedients available under the transition guidance with the new standard. This package includes the following: relief from determination of lease contracts included in existing or expiring leases at the point of adoption, relief from having to reevaluate the classification of leases in effect at the point of adoption, and relief from reevaluation of existing leases that have initial direct costs associated with the execution of the lease contract. The Commission also elected to adopt the practical expedient to use hindsight to determine the lease term and assess the impairment of the right of use assets.

See Note 6 – Commitments for a discussion of the impact of implementing FASB ASC 842, Leases.

As of October 1, 2020, the Commission adopted the provisions of FASB ASU 2014-09 – Revenue from Contracts with Customers (Topic 606). The core principle of the guidance is that an entity should recognize revenue to depict the transfer of goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled. The Commission has evaluated the impact of the standard and determined that it did not result in significant changes to its method of revenue recognition.

As of October 1, 2020, the Commission adopted amendments to provisions of FASB ASU 2016-18 –Statement of Cash Flows (Topic 230): Restricted Cash. The implementation of ASU 2016-18 affects the presentation in the statement of cash flows to provide information that reconciles cash and restricted cash to amounts reported in the statement of financial position.

NOTE 2 - CONTRACT WITH PALM BEACH COUNTY

The Commission enters a multi-year administrative services and agency contract with the County. The contract provides that the Commission will perform or administer various functions such as attracting sports events, advertising, public relations, sports marketing and trade shows, familiarization tours and other projects and promotional services to assist the County in its sporting promotion efforts. Expenses made by the Commission under the contract are billed primarily on the cash basis and are subject to approval by the County prior to reimbursement. Effective February 1, 2015, the County levied a sixth cent of Bed Tax with an additional allocation to the Commission of 11.62%. Increasing the funding for this contract to 8.16% of the second, third, fifth, and sixth cent of the Tourist Development Tax.

BEACH

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEARS ENDED SEPTEMBER 30, 2023 AND 2022

NOTE 2 - CONTRACT WITH PALM BEACH COUNTY (Cont’d.)

The Commission’s contract with the County for the fiscal year ended September 30, 2023 is on a reimbursement basis, and any portion of the contract budget unspent for the fiscal year is put back into the Commission’s reserve for future use. As of September 30, 2023, the cumulative reserve balance totaled $4,806,369 and remains earmarked for the Commission's use in accordance with the contract with the County.

On September 13, 2022, the Commission and the County entered into a new five-year agreement (R20221019) for the period October 1, 2022, through September 30, 2027. The contract is amended annually for certain exhibits (e.g., budget, org chart, etc.) but the body of the contract historically remains unchanged throughout the contract period.

The Commission also has in-kind activity with the County as further illustrated in Note 7.

NOTE 3 - NON-CONTRACT EXPENSES

The Commission incurs certain expenses in the normal course of its operations which are not reimbursed under the contract with the County (see Note 2). These expenses are related primarily to sports events, sponsorships, and membership services that are not covered under the contract with the County. The total amount of these expenses was approximately $178,286 and $192,459 for the years ended September 30, 2023, and 2022, respectively. This includes $9,800 and $9,805 of in-kind expenses for the years ended September 30, 2023, and 2022, that are shown under the Business Entities column in the table presented in Note 7.

NOTE 4 - PENSION PLAN

The Commission adopted a 401(k) Plan and Trust on January 1, 2015, for the benefit of all eligible employees to save for retirement on a tax-advantage basis. Employees are eligible to participate in the plan after completion of 6 months of service. At that time, the employer will make Safe Harbor nonelective contributions equal to 3% of employee's compensation which is 100% vested. Employer also contributes discretionary or Profit-Sharing contributions of 8.96% of employee compensation which is vested after completion of 1 year of service. Effective January 1, 2015, employees under the plan may elect to contribute into the plan by making 401(k) salary deferrals which results in a reduction in their taxable wages or elect to contribute into a Roth 401(k) subject to federal income tax. Both employee deferrals in addition to employee rollover contributions from a previous employer’s Simplified Employee Pension Plan (SEP) are 100% vested immediately. Contributions made by the Commission to the 401(k) Plan for the years ended September 30, 2023, and 2022 were $96,702 and $81,235, respectively.

NOTE 5 - COMPENSATED ABSENCES

Vacation pay is accrued by employees starting on their date of hire. If employees do not take their vacation in the ensuing twelve months, they may rollover unused vacation into the following year subject to certain limits. Accrued vacation for the years ended September 30, 2023 and 2022 was $38,330 and $39,302, respectively.

PALM BEACH COUNTY SPORTS COMMISSION, INC.

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEARS ENDED SEPTEMBER 30, 2023 AND 2022

NOTE 6 - COMMITMENTS

The Commission's administrative office located in West Palm Beach are provided by the County for the benefit of the Commission. The Commission leases office equipment under non-cancelable operating leases with expiration dates that extend through February 2028.

Future minimum lease payments under the operating leases are as follows:

Fiscal Year Ending September 30,

Operating lease expense totaled $15,413 and $15,407 for the years ended September 30, 2023 and 2022, respectively, recorded within Facility Expense on the accompanying statement of functional expenses.

The implementation of FASB ASC 842, Leases did not have a material effect on the financial statements for the year ended September 30, 2023.

NOTE 7 - IN-KIND CONTRIBUTIONS

Donated goods and services that meet the criteria for recognition are reflected as in-kind contributions on the accompanying statement of activities. During the fiscal year, the County paid grants, indirect operating expenses, telephone, tax collector commissions, and inspector general fees on behalf of the Commission.

The Commission receives the use of donated facilities of its administrative offices provided by the County. The fair value of office space rent, common area maintenance, and related overhead costs are calculated by the County and are included within the Indirect Operating Expenses line item in the statement of activities.

BEACH COUNTY SPORTS COMMISSION, INC. NOTES TO THE FINANCIAL STATEMENTS FOR THE YEARS ENDED SEPTEMBER 30, 2023 AND 2022

NOTE 7 - IN-KIND CONTRIBUTIONS (Cont’d.)

Several business entities have donated goods and services including supplies, advertising, and professional services. These goods and services are recorded at their estimated fair value. In-kind contributions for the years ended September 30, 2023, and 2022 are as follows:

The Commission also receives donated sports memorabilia and other goods to be auctioned at events. The contributed auction items are recorded at the estimated fair value when donated. For the fiscal year ended September 30, 2023, donated auction items valued at $12,095 were recorded as inventory on the statement of financial position.

NOTE 8 - CONCENTRATIONS-REVENUE

For the years ended September 30, 2023, and 2022, the Commission received 88% and 84% of its revenue, respectively, from expense reimbursements and indirect payments to others paid by Palm Beach County.

NOTE 9 - FAIR VALUE INSTRUMENTS

The Fair Value Measurement Topic of the FASB Accounting Standards Codification defines fair value, establishes a consistent framework for measuring fair value and expands disclosure requirements for fair value measurements. The Commission measures the fair value of assets and liabilities as the price that would be received to sell an asset or paid to transfer a liability in the principal or most advantageous market in an orderly transaction between market participants at the measurement date. The fair value hierarchy distinguishes between independent observable inputs and unobservable inputs used to measure fair value as follows:

COUNTY

INC. NOTES TO THE FINANCIAL STATEMENTS FOR THE YEARS ENDED SEPTEMBER 30, 2023 AND 2022

NOTE 9 - FAIR VALUE INSTRUMENTS (Cont’d.)

Level 1: Quoted prices (unadjusted) inactive markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date.

Level 2: Inputs other than quoted market prices included within Level 1 that are observable for an asset or liability) either directly or indirectly.

Level 3: Unobservable inputs for an asset or liability. Level 3 inputs should be used to measure fair value to the extent that observable Level 1 or 2 inputs are not available.

Generally accepted accounting principles require disclosure of an estimate of fair value of certain financial instruments. The Commission's significant financial instruments are cash, accounts receivable, prepaid expenses, accounts payable, accrued expenses, and other short-term assets and liabilities. For these financial instruments (Level 1), carrying values approximates fair value because of the short maturity of these instruments.

NOTE 10 - CONTINGENCIES

The Commission has a contractual agreement with the County. The disbursement of funds received under this agreement generally require compliance with the terms and conditions specified in the agreement. Failure to comply with the terms of the agreement could reduce or eliminate the amount of funds available to the Commission from the County. A significant reduction in the level of funding received from the County would have a substantial effect on the Commission's programs. While this is possible, management believes it is unlikely. The Commission has a longstanding successful relationship with the County and has to date accomplished the objectives of the Commission the provisions of the agreement.

The COVID-19 pandemic has had a broad and negative impact on commerce and financial markets around the world. The United States and global markets experienced significant declines in value resulting from uncertainty caused by the pandemic. The Commission was impacted by the pandemic but with the help of strong reserves and government programs like PPP the Commission was able to navigate through the uncertain times.

While uncertainty in the markets remains, management believes the Commission is well positioned with a strong reserve. Additionally, bed tax revenues have returned to pre-pandemic levels, The Commission saw record setting bed tax revenues in 2022 and 2023, and forecasts for 2024 remain optimistic.

NOTE 11 - NET ASSETS WITH DONOR RESTRICTIONS

The Commission recognizes monies received from Florida Sports Foundation as designated with a restricted purpose. These donor-restricted funds are awarded to supplement a grant from the Sports Commission to a Category G grantee and for purposes that include business development, coop marketing, digital media, event hosting, event servicing and familiarization tours.

As of September 30, 2023, and 2022, these net assets with donor restrictions totaled 613,931 and $533,154, respectively. Net assets were released from donor restrictions by incurring expenses satisfying the restrictions noted above of $211,200 and $106,177 for the years ended September 30, 2023, and 2022, respectively.

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEARS ENDED SEPTEMBER 30, 2023 AND 2022

NOTE 12 - RELATED PARTY TRANSACTIONS

During the prior fiscal year, the Commission supported a not-for-profit organization (African American Golfers Hall of Fame) of which a member of the Board of Directors is that corporations President.

The Commission paid $4,900 and $4,500 to this related party for the years ended September 30, 2023, and 2022, respectively.

NOTE 13 - LIQUIDITY AND AVAILABLITY

The following financial assets available to meet cash needs for general expenditure, without donor restrictions or other designations limiting their use, within one year of the date of the statement of financial position:

Less: Donor-imposed restriction amounts

financial assets available to meet general expenditures over the next 12 months $

As part of the Commission’s liquidity management, it structures its financial assets to be available for general expenditures and other obligations as they come due. To further help manage its liquidity needs, the Commission has been advanced cash from the County in prior fiscal years totaling $600,000. This is due to the reimbursement process which takes on average 45-60 days.

Additionally, the Commission has a cumulative reserve totaling $4,806,369 as of September 30, 2023. This reserve increases or decreases each year depending on bed tax collections and whether the Commission goes over/under budget at the end of the fiscal year. Although the Commission does not intend to spend from their reserve other than amounts appropriated for general expenditures as part of its annual contract budget approval and appropriation, amounts from their reserve could be made available, if necessary, with permission from the County and are earmarked by County Ordinance for the Commission.

NOTE 14 - PAYCHECK PROTECTION PROGRAM

On April 16, 2020, the Commission received loan proceeds in the amount of $128,053 under the Paycheck Protection Program (“PPP”). Established as part of the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”), the PPP provided loans to qualifying businesses in amounts up to 2.5 times the business’s average monthly payroll expenses. PPP loans and accrued interest are forgivable if the borrower maintains its payroll levels and uses the loan proceeds for eligible purposes, including payroll, benefits, rent, and utilities.

NOTES TO THE FINANCIAL STATEMENTS FOR THE YEARS ENDED SEPTEMBER 30, 2023 AND 2022

NOTE 14 - PAYCHECK PROTECTION PROGRAM (Cont’d.)

In March 2021, the Organization was approved for $128,053, a Second Draw of its loan through the U.S. Small Business Administration ("SBA") under the Paycheck Protection Program. On November 8, 2021, the principal and accrued interest of the second PPP loan was forgiven, at which time the Commission recognized the support in the accompanying statement of activities.

NOTE 15 - SUBSEQUENT EVENTS

The Commission has evaluated events that occurred subsequent to the year-end for potential recognition or disclosure in the financial statements through the date on which the financial statements were available to be issued.

The date when the financial statements were available to be issued was March 18, 2024.

Mark Escoffery, P.A.

8645 N. Military Trail

Suite 503

Palm Beach Gardens, FL 33410

REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING AND ON COMPLIANCE AND OTHER MATTERS BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS

To The Board of Directors

Palm Beach County Sports Commission, Inc.

West Palm Beach, Florida

I have audited the financial statements of the Palm Beach County Sports Commission, Inc. (“the Organization”) (a not-for-profit organization) as of and for the years ended September 30, 2023 and 2022, and have issued my report thereon dated March 18, 2024. I conducted my audits in accordance with auditing standards generally accepted in the United States of America and the standards applicable to financial audits contained in Government Auditing Standards, issued by the Comptroller General of the United States.

Internal Control Over Financial Reporting

In planning and performing my audits, I considered the Organization’s internal control over financial reporting as a basis for designing my auditing procedures for the purpose of expressing my opinion on the financial statements, but not for the purpose of expressing an opinion on the effectiveness of the Organization’s internal control over financial reporting. Accordingly, I do not express an opinion on the effectiveness of the Organization’s internal control over financing reporting.

A deficiency in internal control exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent, or detect and correct misstatements on a timely basis. A material weakness is a deficiency, or a combination of deficiencies, in internal control such that there is a reasonable possibility that a material misstatement of the entity’s financial statement will not be prevented or detected and corrected on a timely basis.

My consideration of internal control over financial reporting was for the limited purpose described in the first paragraph of this section and was not designed to identify all deficiencies in internal control over financial reporting that might be deficiencies, significant deficiencies, or material weaknesses. I did not identify any deficiencies in internal control over financial reporting that I consider to be material weaknesses, as defined above.

REPORT ON INTERNAL CONTROL OVER FINANCIAL REPORTING AND ON COMPLIANCE AND OTHER MATTERS BASED ON AN AUDIT OF FINANCIAL STATEMENTS PERFORMED IN ACCORDANCE WITH GOVERNMENT AUDITING STANDARDS (CONT’D.)

To The Board of Directors

Palm Beach County Sports Commission, Inc.

West Palm Beach, Florida

Compliance and Other matters

As part of obtaining reasonable assurance about whether the Organization’s financial statements are free of material misstatement, I performed tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements, noncompliance with which could have a direct and material effect on the determination of financial statement amounts. However, providing an opinion on compliance with those provisions was not an objective of my audit, and accordingly, I do not express such an opinion. The results of my tests disclosed no instances of noncompliance or other matters that are required to be reported under Government Auditing Standards.

This report is intended solely for the information and use of Management, the Board of Directors, and others within the entity, and is not intended to be and should not be used by anyone other than these specified parties.

Palm Beach Gardens, Florida

March 18, 2024

Palm Beach County Convention Center Food & Hospitality

Mark Escoffery, P.A.

8645 N. Military Trail

Suite 503

Palm Beach Gardens, FL 33410

March 28, 2024

To the General Manager and Management of Ovations Food Services, L.P. d/b/a OVG Hospitality Palm Beach County Convention Center West Palm Beach, Florida

We have audited the Statement of Profit and Loss of Ovations Food Services, L.P. d/b/a OVG Hospitality for the year ended September 30, 2023, and have issued our report thereon dated March 28, 2024. Professional standards require that we provide you with information about our responsibilities under generally accepted auditing standards, as well as certain information related to the planned scope and timing of our audit. We have communicated such information in our engagement letter dated October 24, 2022. Professional standards also require that we communicate to you the following information related to our audit.

Qualitative Aspects of Accounting Practices,

You are responsible for the selection and use of appropriate accounting policies. The significant accounting policies used by Ovations Food Services, L.P. d/b/a OVG Hospitality are described in Note 2 to the financial statements. No new accounting policies were adopted, and the application of existing policies was not changed during the year. We noted no transactions entered into by the Company during the year for which there is a lack of authoritative guidance or consensus. All significant transactions have been recognized in the financial statements in the proper period.

There were no other financial statement disclosures which are particularly sensitive because of their significance to financial statement users.

The financial statement disclosures are neutral, consistent, and clear.

Difficulties Encountered in Performing the Audit

We encountered no significant difficulties in performing and completing our audit.

Uncorrected Misstatements

Professional standards require us to accumulate all misstatements identified during the audit, other than those that are clearly trivial, and communicate them to the appropriate level of management. We did not find any misstatements.

Disagreements with Management

For purposes of this letter, a disagreement with management is a financial accounting, reporting, or auditing matter, whether resolved to our satisfaction, that could be significant to the financial statements or the auditor’s report. We are pleased to report that no such disagreements arose during our audit.

Other Audit Findings or Issues

There were no other audit findings or issues.

Other Matters

This information is intended solely for the use of Ovations Food Services, L.P. d/b/a OVG Hospitality and those charged with governance and is not intended to be, and should not be, used by anyone other than these specified parties.

Very truly yours,

Mark Escoffery, P.A.

OVATIONS FOOD SERVICES, L.P. d/b/a OVG HOSPITALITY

PALM BEACH COUNTY CONVENTION CENTER LOCATION WEST PALM BEACH, FLORIDA

INDEPENDENT AUDITOR’S REPORT AND FINANCIAL STATEMENTS

FOR THE YEARS ENDED SEPTEMBER 30, 2023 AND 2022

PALM BEACH COUNTY CONVENTION CENTER LOCATION

WEST PALM BEACH, FLORIDA

8645 N. Military Trail

Suite 503

Palm Beach Gardens, FL 33410

Mark Escoffery, P.A.

Certified Public Accountant

INDEPENDENT AUDITOR’S REPORT

To the General Manager and Management of Ovations Food Services, L.P. d/b/a OVG Hospitality Palm Beach County Convention Center West Palm Beach, Florida

Opinion

We have audited the accompanying Statements of Profit and Loss of Ovations Food Services, L.P. d/b/a OVG Hospitality (a Florida partnership), for the years ended September 30, 2023 and 2022, and the related notes to the financial statements.

In our opinion, the September 30, 2023 and 2022 financial statements referred to above presents fairly, in all material respects, the results of Ovations Food Services, L.P. d/b/a OVG Hospitality’s operations for the years ended September 30, 2023 and 2022 pursuant to the Food and Beverage Services Agreement referred to in Notes 1 and 2.

Basis for Opinion

We conducted our audit in accordance with auditing standards generally accepted in the United States of America. Our responsibilities under those standards are further described in the Auditor’s Responsibilities for the Audit of the Financial Statements section of our report. We are required to be independent of Ovations Food Services, L.P. d/b/a OVG Hospitality and to meet our other ethical responsibilities in accordance with the relevant ethical requirements relating to our audit. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

Emphasis of Matter

We draw attention to notes 1 and 2 of the financial statement, which describes the financial statement was prepared for the purpose of complying with the provisions of the Food and Beverage Services Agreement between the Board of County Commissioners of Palm Beach County, and Ovations Food Services, L.P. d/b/a OVG Hospitality, which is a basis of accounting other than accounting principles generally accepted in the United States of America.

Responsibilities of Management for the Financial Statements

Management is responsible for the preparation and fair presentation of the financial statements in accordance with accounting principles generally accepted in the United States of America, and for the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, management is required to evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about Ovations Food Services, L.P. d/b/a OVG Hospitality’s ability to continue as a going concern within one year after the date that the financial statements are available to be issued.

Auditor’s Responsibilities for the Audit of the Financial Statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not a guarantee that an audit conducted in accordance with generally accepted auditing standards will always detect a material misstatement when it exists. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Misstatements are considered material if there is a substantial likelihood that, individually or in the aggregate, they would influence the judgment made by a reasonable user based on the financial statements.

In performing an audit in accordance with generally accepted auditing standards, we:

 Exercise professional judgment and maintain professional skepticism throughout the audit.

 Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and design and perform audit procedures responsive to those risks. Such procedures include examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements.

 Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of Ovations Food Services, L.P. d/b/a OVG Hospitality’s internal control. Accordingly, no such opinion is expressed.

 Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluate the overall presentation of the financial statements.

 Conclude whether, in our judgment, there are conditions or events, considered in the aggregate, that raise substantial doubt about Ovations Food Services, L.P. d/b/a OVG Hospitality’s ability to continue as a going concern for a reasonable period of time.

We are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit, significant audit findings, and certain internal control related matters that we identified during the audit.

Palm Beach Gardens, Florida March 28, 2024

STATEMENT OF PROFIT AND LOSS YEARS ENDED SEPTEMBER 30, 2023 AND 2022

PALM BEACH COUNTY CONVENTION CENTER LOCATION WEST PALM BEACH, FLORIDA

NOTES TO THE STATEMENT OF PROFIT AND LOSS YEARS ENDED 30, 2023 AND 2022

NOTE 1 – FOOD AND BEVERAGE AGREEMENT

Ovations Food Services, L.P. d/b/a OVG Hospitality (the “Company”) and Palm Beach County are parties to a Food and Beverage Services Agreement dated July 1, 2010 (the “Agreement”), wherein the County granted the Company the exclusive right to provide food and beverage and catering services (the “Food and Beverage Services”) at the Palm Beach County Convention Center (the “Center”) subject to certain exceptions, as defined within the contract. The Agreement commenced on July 1, 2010, and will continue through September 30, 2015, a period of five (5) years and three (3) months.

There was an amendment to the original agreement with an effective date of October 1, 2015 which extended the term of the original agreement for an additional period of five (5) years commencing on October 1, 2015 and ending on September 30, 2020 (the “Extended Term”). Reference Article 2 Term. There was a second amendment to the original agreement on June 16, 2020 which extended the term of the agreement for an additional twelve (12) months commencing on October 1, 2020 and ending on September 30, 2021 (the “Extended Term”).

A third amendment to the original agreement was executed on June 15, 2021 which extended the term of the agreement for an additional twelve (12) months commencing on October 1, 2021 and ending on September 30, 2022 (the “Extended Term”).

The Company signed a new agreement with Palm Beach County that was executed on August 22, 2022 with a term of five years beginning October 1, 2022 and continuing through September 30, 2027 with the potential for one five year extension at the end of the first term.

Pursuant to the terms of the Agreement, the Company and Palm Beach County have agreed to distribute the net profits, as defined, from the Food and Beverage Services provided at the Center as follows:

 The County will receive 93% of the net profits, as defined;

 The Company will receive 7% of the net profits, as defined;

The Company has remitted total payments to the County of $ $2,377,184 and $1,275,268 for the years ended September 30, 2023, and September 30, 2022, respectively. The County owed the Company a total of $80,061 for the year ended September 30, 2023 and paid or credited to Ovations a total of $111,509 for the year ended September 30, 2022. The amounts owed or credited from the County to the Company represent reimbursements for months where the Center incurred a loss.

Also, pursuant to the terms of the Agreement, the Company is required to maintain a $1,000,000 performance bond under which Palm Beach County can draw upon in the event the Company does not faithfully perform, as defined, in accordance with the terms of the Agreement. The performance bond held with Hartford Fire Insurance Company covers a one (1) year period through June 30, 2023 and 2022, with annual renewals.

PALM BEACH COUNTY CONVENTION CENTER LOCATION WEST PALM BEACH, FLORIDA

NOTES TO THE STATEMENT OF PROFIT AND LOSS YEARS ENDED 30, 2023 AND 2022

NOTE 1 – FOOD AND BEVERAGE AGREEMENT (Cont’d)

The following is a monthly schedule of gross receipts from the following sources:

YEAR ENDED SEPTEMBER 30, 2023

YEAR ENDED SEPTEMBER 30, 2022

PALM BEACH COUNTY CONVENTION CENTER LOCATION WEST PALM BEACH, FLORIDA

NOTES TO THE STATEMENT OF PROFIT AND LOSS YEARS ENDED 30, 2023 AND 2022

NOTE 2 – SIGNIFICANT ACCOUNTING POLICIES

Revenue

Recognition

The Company recognizes gross receipts when products are sold or services are provided to its customers.

Expense Recognition

The Company recognizes expenses based upon the accrual method of accounting unless otherwise disclosed.

NOTE 3 – RESERVE FUND

Pursuant to the terms of the Agreement, the Company provides for the purchase of small wares expended against a cumulative monthly marketing reserve fund (the “Fund”) calculated at 2% of gross receipts, which is included in other expenses in the accompanying statement. The Company can use the amounts in the Fund to pay the cost of marketing activities and for the purchase of small wares, as defined. The Fund is not required to be deposited into a separate bank account. Upon the expiration or termination of the Agreement, the Company shall remit to Palm Beach County the then-outstanding balance of the Fund. As of September 30, 2023 and 2022, the cumulative balance in the reserve fund was $159,959 and $174,830, respectively.

NOTE 4 – INSURANCE COSTS

The Company’s operations at the Center are covered under workers’ compensation and comprehensive general liability (umbrella) insurance coverage obtained by Ovations Food Services, LP and its affiliates on a consolidated basis. The total cost of this coverage has been allocated to the operating location of Ovations Food Services, LP and its affiliates, including the Center. In the accompanying statement, charges for workers’ compensation and liability coverage totaling $135,127 and $110,627 in 2023 and 2022, respectively, are included in “other payroll cost and benefits” and other expenses.

NOTE 5 – SUBCONTRACTOR INCOME

The Company has entered into various subcontractor agreements to provide certain concession and catering services at the Center. There was $459,758 of subcontract revenue recognized in 2023 and $476,128 in 2022. These amounts have been properly included in the accompanying statements as part of “subcontract and other income.”

NOTE 6 – SUPPLEMENTAL CATERING FEE

The Company adds to its catering contracts a service charge which covers all the incidental expenses incurred by Ovations to carry out the terms of the catering contract or agreement. These charges totaled $972,933 in 2023 and $681,215 in 2022.

PALM BEACH COUNTY CONVENTION CENTER LOCATION WEST PALM BEACH, FLORIDA

NOTES TO THE STATEMENT OF PROFIT AND LOSS YEARS ENDED 30, 2023 AND 2022

NOTE 7 – CONSIGNMENT INCOME

Included in “subcontract and other income” are flow-through revenues of $37,600 and $67,057 for the year ended September 30, 2023 and 2022, respectively, pertaining to consignment income from services provided by the Palm Beach County Convention Center. These revenues are remitted to the building and the consignment income is included as an offsetting expense in “Administration and Other Expenses.”

NOTE 8 – INCENTIVE FEES

According to the Agreement with Palm Beach County, Ovations is entitled to receive an “incentive fee” based upon meeting certain performance measures each year. The incentive fee is calculated at 1% applied to gross sales up to $2,500,000, and up to 2% in addition based upon sales in excess of $2,500,000 up to $4,000,000. The qualitative performance measures are generally assessed subsequent to the close of the fiscal year. For the years ended September 30, 2023 and 2022, no incentive fees were earned.

NOTE 9 – RISKS AND UNCERTAINTIES

End of Global Pandemic - The World Health Organization declared the COVID-19 outbreak a global pandemic on March 11, 2020. The pandemic had extensive impacts on society, resulting in significant disruptions to the global economy, businesses, and capital markets worldwide. The United States implemented travel restrictions and many businesses announced extended closures, which adversely impacted the Company's operations in the fiscal years 2020 through 2022. However, in the fiscal year 2023, the global community successfully managed the pandemic through widespread vaccination efforts, improved treatments, and public health measures. As a result, the World Health Organization officially declared the end of the COVID-19 pandemic in mid-2023.

Following the end of the pandemic, the Company experienced a gradual recovery in its operations and financial performance.

Despite the challenges faced during the pandemic, the Company demonstrated resilience and adaptability, implementing various strategies to mitigate financial, operational, and liquidity risks. As of September 30, 2023, the Company has successfully navigated the pandemic's impact and is well-positioned for future growth and success in the post-pandemic economy. Management will continue to monitor any residual effects of the pandemic and remains committed to making necessary adjustments to ensure the Company's long-term stability and success.

NOTE 10 – SUBSEQUENT EVENTS

The Company evaluated subsequent events through March 28, 2024, the date the financial statements were available to be issued.

On November 13, 2023, the Company collected $80,061 due from Palm Beach County for months where the Company incurred a loss.

OVATIONS FOOD SERVICES, L.P. d/b/a OVG HOSPITALITY

PALM BEACH COUNTY CONVENTION CENTER LOCATION WEST PALM BEACH, FLORIDA

NOTES TO STATEMENT OF PROFIT AND LOSS YEAR ENDED SEPTEMBER 30, 2023

Ending, September 30, 2023

Remittances

OVATIONS FOOD SERVICES, L.P.

d/b/a OVG HOSPITALITY

PALM BEACH COUNTY CONVENTION CENTER LOCATION

WEST PALM BEACH, FLORIDA

NOTES TO STATEMENT OF PROFIT AND LOSS YEAR ENDED SETPTEMBER 30, 2023

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Holyfield & Thomas, LLC

Certified Public Accountants & Advisors

125 Butler Street  West Palm Beach, FL 33407 (561)689-6000  Fax (561) 689-6001  www.holyfieldandthomas.com

To Management of Palm Beach County Convention Center

West Palm Beach, Florida

In planning and performing our audit of the financial statements of the Operations of the Palm Beach County Convention Center (Convention Center) as of and for the years ended September 30, 2023 and 2022, in accordance with auditing standards generally accepted in the United States of America, we considered the Convention Center’s system of internal control over financial reporting (internal control) as a basis for designing auditing procedures that are appropriate in the circumstances for the purpose of expressing our opinion on the financial statements, but not for the purpose of expressing an opinion on the effectiveness of the Convention Center’s internal control. Accordingly, we do not express an opinion on the effectiveness of the Convention Center’s internal control.

Definitions Related to Internal Control Deficiencies

A deficiency in internal control exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent, or detect and correct misstatements on a timely basis. A material weakness is a deficiency or combination of deficiencies in internal control, such that there is a reasonable possibility that a material misstatement of the Convention Center’s financial statements will not be prevented, or detected and corrected on a timely basis.

Our Responsibilities

Our consideration of internal control was for the limited purpose described in the first paragraph and was not designed to identify all deficiencies in internal control that might material weaknesses. Given these limitations, during our audit we did not identify any deficiencies in internal control that we consider to be material weaknesses. However, material weaknesses may exist that have not been identified.

This communication is intended solely for the information and use of management, and others within the Convention Center, and is not intended to be and should not be, used by anyone other than these specified parties.

Holyfield & Thomas, LLC

West Palm Beach, FL April 8, 2024

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April 8, 2024

Holyfield & Thomas, LLC

Certified Public Accountants & Advisors

125 Butler Street  West Palm Beach, FL 33407 (561)689-6000  Fax (561) 689-6001  www.holyfieldandthomas.com

To the General Manager and Management of Global Spectrum, L.P.

Palm Beach County Convention Center

West Palm Beach, Florida

We have audited the financial statements of the Operations of the Palm Beach County Convention Center (Convention Center) for the years ended September 30, 2023 and 2022, and we expect to issue our report thereon in April 2024. Professional standards require that we provide you with information about our responsibilities under generally accepted auditing standards, as well as certain information related to the planned scope and timing of our audit. We have communicated such information in our letter to you dated November 1, 2023. Professional standards also require that we communicate to you the following information related to our audit.

Significant Audit Findings

Qualitative Aspects of Accounting Practices

Management is responsible for the selection and use of appropriate accounting policies. The significant accounting policies used by the Convention Center are described in Note 1 to the financial statements. No new accounting policies were adopted and the application of existing policies was not changed during fiscal year 2023. We noted no transactions entered into by the Convention Center during the year for which there is a lack of authoritative guidance or consensus. All significant transactions have been recognized in the financial statements in the proper period.

Accounting estimates are an integral part of the financial statements prepared by management and are based on management’s knowledge and experience about past and current events and assumptions about future events. Certain accounting estimates are particularly sensitive because of their significance to the financial statements and because of the possibility that future events affecting them may differ significantly from those expected. The most sensitive estimates affecting the financial statements were the settlement value of accrued and deferred obligations. We evaluated the methods, assumptions, and data used to develop these estimates in determining that they were reasonable in relation to the financial statements taken as a whole.

The financial statement disclosures are neutral, consistent, and clear.

Difficulties Encountered in Performing the Audit

We encountered no significant difficulties in dealing with management in performing and completing our audit.

Corrected and Uncorrected Misstatements

Professional standards require us to accumulate all misstatements identified during the audit, other than those that are clearly trivial, and communicate them to the appropriate level of management. There were no uncorrected misstatements, and there were only two reclassification entries for financial statement presentation purposes only. See reclassifying journal entries report on page 4.

General Manager and Management of Global Spectrum, L.P.

Palm Beach County Convention Center

April 8, 2024

Page 2

Disagreements with Management

For purposes of this letter, a disagreement with management is a disagreement on a financial accounting, reporting, or auditing matter, whether or not resolved to our satisfaction, that could be significant to the financial statements or the auditor’s report. We are pleased to report that no such disagreements arose during the course of our audit.

Management Representations

We have requested certain representations from management that are included in the management representation letter to be dated upon issuance of the financial statements.

Management Consultations with Other Independent Accountants

In some cases, management may decide to consult with other accountants about auditing and accounting matters, similar to obtaining a “second opinion” on certain situations. If a consultation involves application of an accounting principle to Palm Beach County Convention Center’s financial statements or a determination of the type of auditor’s opinion that may be expressed on those statements, our professional standards require the consulting accountant to check with us to determine that the consultant has all the relevant facts. To our knowledge, there were no such consultations with other accountants.

Other Audit Findings or Issues

We generally discuss a variety of matters, including the application of accounting principles and auditing standards, with management each year prior to retention as the Convention Center’s auditors. However, these discussions occurred in the normal course of our professional relationship and our responses were not a condition to our retention.

Other Information in Documents Containing Audited Financial Statements

We are not aware of any documents that contain the audited financial statements. If such documents were to be published, we would have a responsibility to determine that such financial information was not materially inconsistent with the audited statements of Palm Beach County Convention Center.

Other Matters

With respect to the supplementary information accompanying the financial statements, we made certain inquiries of management and evaluated the form, content, and methods of preparing the information to determine that the information complies with U.S. generally accepted accounting principles, the method of preparing it has not changed from the prior period, and the information is appropriate and complete in relation to our audit of the financial statements. We compared and reconciled the supplementary information to the underlying accounting records used to prepare the financial statements or to the financial statements themselves.

Closing

We are pleased to respond to any questions you have about the audit or the contents of this letter. We appreciate the opportunity to be of service to you with respect to your audit and accounting needs.

General Manager and Management of Global Spectrum, L.P.

Palm Beach County Convention Center

April 8, 2024

Page 3

This information is intended solely for the use of the General Manager, management of the Operations at the Palm Beach County Convention Center Managed by Global Spectrum, L.P. and the Board of County Commissioners of Palm Beach County and is not intended to be, and should not be, used by anyone other than these specified parties.

Very truly yours,

Holyfield & Thomas, LLC

OPERATIONS AT THE PALM BEACH COUNTY CONVENTION CENTER MANAGED BY GLOBAL SPECTRUM, L.P.

REPORT ON AUDITS OF SPECIAL-PURPOSE FINANCIAL STATEMENTS

For the Years Ended September 30, 2023 and 2022

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Holyfield & Thomas, LLC

Certified Public Accountants & Advisors

125 Butler Street  West Palm Beach, FL 33407 (561)689-6000  Fax (561) 689-6001  www.holyfieldandthomas.com

INDEPENDENT AUDITOR’S REPORT

To the General Manager and Management of Global Spectrum, L.P. Palm Beach County Convention Center West Palm Beach, Florida

Opinion

We have audited the accompanying special-purpose statements of assets and liabilities of the Operations at the Palm Beach County Convention Center, Managed by Global Spectrum, L.P., as of September 30, 2023 and 2022, and the related special-purpose statements of revenues, expenses and transfers, and cash flows for the years then ended, and the related notes to the special-purpose financial statements.

In our opinion, the special-purpose financial statements referred to above present fairly, in all material respects, the assets and liabilities of the Operations at the Palm Beach County Convention Center, Managed by Global Spectrum, L.P. as of September 30, 2023 and 2022, and the revenues, expenses, transfers, and cash flows for the years then ended, in accordance with the basis of accounting described in Notes 1 and 2.

Basis for Opinion

We conducted our audits in accordance with auditing standards generally accepted in the United States of America. Our responsibilities under those standards are further described in the Auditor’s Responsibilities for the Audit of the Financial Statements section of our report. We are required to be independent of Palm Beach County Convention Center and to meet our other ethical responsibilities in accordance with the relevant ethical requirements relating to our audits. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

Basis of Accounting

We draw attention to Notes 1 and 2 of the special-purpose financial statements, which describe the basis of accounting and purpose for which the special-purpose financial statements are prepared. The special-purpose financial statements are prepared for the purpose of complying with the provisions of the Convention Center Operating Agreement (Management Agreement) between the Board of County Commissioners of Palm Beach County and Global Spectrum, L.P., which is a basis of accounting other than accounting principles generally accepted in the United States of America, to comply with the financial reporting provisions of the Management Agreement referred to above.. As a result, the financial statements may not be suitable for another purpose. Our opinion is not modified with respect to this matter.

Responsibilities of Management for the Financial Statements

Management is responsible for the preparation and fair presentation of the special-purpose financial statements in accordance with the financial reporting provisions of the Management Agreement referred to in Notes 1 and 2; and for the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of the special-purpose financial statements that are free from material misstatement, whether due to fraud or error.

Auditor’s Responsibilities for the Audit of the Financial Statements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not a guarantee that an audit conducted in accordance with generally accepted auditing standards will always detect a material misstatement when it exists. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Misstatements are considered material if there is a substantial likelihood that, individually or in the aggregate, they would influence the judgment made by a reasonable user based on the financial statements.

In performing an audit in accordance with generally accepted auditing standards, we:

 Exercise professional judgment and maintain professional skepticism throughout the audit.

 Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and design and perform audit procedures responsive to those risks. Such procedures include examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements.

 Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of Palm Beach County Convention Center’s internal control. Accordingly, no such opinion is expressed.

 Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluate the overall presentation of the financial statements.

 Conclude whether, in our judgment, there are conditions or events, considered in the aggregate, that raise substantial doubt about Palm Beach County Convention Center's ability to continue as a going concern for a reasonable period of time.

We are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit, significant audit findings, and certain internal control related matters that we identified during the audit.

Report on Supplementary Information

Our audit was conducted for the purpose of forming an opinion on the special-purpose financial statements as a whole. The combining schedule of revenues, expenses and transfers (unaudited) on page 13 and the related notes on page 14 are presented for purposes of additional analysis and are not a required part of the special-purpose financial statements. Such information is the responsibility of management and was derived from and relates directly to the underlying accounting and other records used to prepare the special-purpose financial statements. The information, except for that portion marked “unaudited,” on which we express no opinion, has been subjected to the auditing procedures applied in the audit of the special-purpose financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the special-purpose financial statements or to the special-purpose financial statements themselves, and other additional procedures in accordance with auditing standards generally accepted in the United States of America. In our opinion, the information is fairly stated in all material respects in relation to the special-purpose financial statements as a whole.

Restriction on Use

Our report is intended solely for the information and use of the boards of directors and management of Palm Beach County Convention Center, Board of County Commissioners of Palm Beach County, and Global Spectrum, L.P. and is not intended to be and should not be used by anyone other than these specified parties.

Holyfield & Thomas, LLC

West Palm Beach, Florida

April 8, 2024

OPERATIONS AT THE PALM BEACH COUNTY CONVENTION CENTER MANAGED BY GLOBAL SPECTRUM, L.P.

SPECIAL-PURPOSE STATEMENTS OF ASSETS AND LIABILITIES AS OF SEPTEMBER 30, 2023 AND 2022

ASSETS

See accompanying notes to special-purpose financial statements.

OPERATIONS AT THE PALM BEACH COUNTY CONVENTION CENTER MANAGED BY GLOBAL SPECTRUM, L.P.

SPECIAL-PURPOSE STATEMENTS OF REVENUES, EXPENSES AND TRANSFERS FOR THE YEARS ENDED SEPTEMBER 30, 2023 AND 2022

OPERATIONS AT THE PALM BEACH COUNTY CONVENTION CENTER MANAGED BY GLOBAL SPECTRUM, L.P.

SPECIAL-PURPOSE STATEMENTS OF CASH FLOWS FOR THE YEARS ENDED SEPTEMBER 30, 2023 AND 2022

See accompanying notes to special-purpose financial statements.

OPERATIONS AT THE PALM BEACH COUNTY CONVENTION CENTER MANAGED BY GLOBAL SPECTRUM, L.P.

SPECIAL-PURPOSE STATEMENTS OF CASH FLOWS FOR THE YEARS ENDED SEPTEMBER 30, 2023 AND 2022

Reconciliation of excess revenues over expense (expenses over revenues), before transfers to net cash provided by (used in) operating activities:

Excess revenues over expense, (excess expenses over revenues), before transfers (97,280) $

Adjustments to reconcile excess revenues over expense (expenses over revenues), before transfers to net cash provided by (used in) operating activities: (Increase) decrease in certain assets:

See accompanying notes to special-purpose financial statements.

$

OPERATIONS AT THE PALM BEACH COUNTY CONVENTION CENTER MANAGED BY GLOBAL SPECTRUM, L.P.

NOTES

TO SPECIAL-PURPOSE

FINANCIAL STATEMENTS

FOR THE YEARS ENDED SEPTEMBER 30, 2023 AND 2022

1. Nature of Organization and Significant Accounting Policies

Nature of Organization

The Board of County Commissioners of Palm Beach County (the "County") entered into an agreement with a third party, Global Spectrum, L.P. (the “Organization”), a Pennsylvania limited partnership, which provides for the outsourcing of management and operation of the Palm Beach County Convention Center (the “Facility”) to the Organization. The Facility is owned by the County and is located in the City of West Palm Beach, Florida. The operations primarily include revenues generated from the rental of the Facility’s meeting rooms, audio/visual equipment and parking services.

Basis of Presentation

The special-purpose financial statements were prepared for the purpose of complying with the provisions of the Convention Center Operating Agreement (Management Agreement) between the County and the Organization and are not intended to be a complete presentation of the Facility’s assets, liabilities, revenues, and expenses in accordance with accounting principles generally accepted in the United States of America.

The special-purpose financial statements only present the assets, liabilities, revenues, expenses, and transfers of the Facility that are managed by the Organization pursuant to the provisions of the Management Agreement.

Basis of Accounting

Revenues and expenses are recognized in the special-purpose financial statements on the accrual basis of accounting. Revenue consists of rental and service income, and other ancillary income. Rental and service income is recognized when the event occurs. Ancillary income is recognized at the time of sale. All expenses are recorded when the good or service is provided.

Fair Value of Financial Instruments

The special-purpose financial statements follow Financial Accounting Standards Board (FASB) Accounting Standards Codification (ASC) 820-10, Fair Value Measurements and Disclosures, which provides a common definition of fair value, establishes a framework to measure fair value within accounting principles generally accepted in the United States of America, and expands the disclosures about fair value measurements. The standard does not create any new fair value measurements. Instead, it applies under existing accounting pronouncements that require or permit fair value measurements.

For assets and liabilities measured at fair value on a recurring basis, entities should disclose information that allows financial statement users to assess (1) the inputs used to develop such measurements, such as Level 1 (i.e., quoted price in an active market for an identical asset or liability), Level 2 (i.e., quoted price for similar assets or liabilities in active markets), or Level 3 (i.e., unobservable inputs); and (2) the effect on changes in net assets of recurring measurements that use significant unobservable (Level 3) inputs. The special-purpose financial statements do not include financial instruments measured at fair value on a recurring basis.

OPERATIONS AT THE PALM BEACH COUNTY CONVENTION CENTER MANAGED BY GLOBAL SPECTRUM, L.P.

NOTES TO SPECIAL-PURPOSE FINANCIAL STATEMENTS FOR THE YEARS ENDED SEPTEMBER 30, 2023 AND 2022

1. Nature of Organization and Significant Accounting Policies,

continued

The following methods and assumptions were used by the Organization in estimating fair value of financial instruments that are not disclosed under ASC 820-10.

Cash: The carrying amount reported approximates fair value.

Accounts receivable: The carrying amount reported approximates fair value due to the shortterm of the receivables.

Accounts payable and accrued expenses: The carrying amount reported approximates fair value due to the short-term duration of the instruments.

Due to (from) others: The carrying amount reported approximates fair value due to the shortterm duration of the instruments.

Accounting Estimates

The preparation of the special-purpose financial statements in conformity with provisions of the Management Agreement require management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the special-purpose financial statement and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.

Cash

Cash consists of cash on hand, and cash in checking and saving accounts. Cash in the amounts of approximately $1,658,300 and $1,933,100 is designated for advanced deposits for events that will occur subsequent to September 30, 2023 and 2022, respectively. As of September 30, 2023, the amount of advance deposits for events liability exceeded the cash balance by approximately $35,900. The difference was due to additional escrow amounts that were contracted directly with the Facility rather than the County for miscellaneous revenues, and therefore weren’t included in the escrow cash account. As of September 30, 2022, the amount of advance deposits for events in the escrow cash account exceeded the liability by approximately $179,600. This difference was due to the September monthly transfer amount for completed events that was not made to the County until October 2022.

Receivables

Accounts receivable and amounts due from/to Palm Beach County, other related parties, and customers are carried at their original charged amounts, which approximate fair value, based on a review of all outstanding amounts on a monthly basis. Management determines the allowance for doubtful accounts, if any, by identifying troubled accounts and by using historical experience applied to an aging of accounts. Receivables are written-off when deemed uncollectible. Recoveries of accounts receivable previously written-off are recorded when received. The allowance for uncollectable accounts receivable as of September 30, 2023 and 2022 was approximately $37,400 and $1,600, respectively.

OPERATIONS AT THE PALM BEACH COUNTY CONVENTION CENTER MANAGED BY GLOBAL SPECTRUM, L.P.

NOTES TO SPECIAL-PURPOSE FINANCIAL STATEMENTS FOR THE YEARS ENDED SEPTEMBER 30, 2023 AND 2022

1. Nature of Organization and Significant Accounting Policies, continued

Deferred Revenue

As of September 30, 2023 and 2022, deferred revenue includes designated advance deposits and other amounts for events scheduled for a subsequent fiscal year. These deposits are included in the accompanying special-purpose financial statements in deferred revenue.

Advertising

Advertising costs are expensed when incurred. Advertising costs totaled approximately $15,400 and $1,900 for the years ended September 30, 2023 and 2022, respectively.

Income Tax Status

The Facility is not subject to federal or state income tax because its operations fall under the tax-exempt status of the County.

2. Management Agreement

In July 2012, the County amended and restated its operating agreement with the Organization to operate and manage the Facility, except for food, beverage, and catering services. The Management Agreement provides that Discover Palm Beach County, Inc. (a Palm Beach County not-for-profit agency) is responsible for the Organization’s long-term sales (i.e., booking events that will not occur for 18 months or more in the future). This agreement covers the period from October 1, 2012, through September 30, 2017, with an option to renew for an additional five years thereafter. In July 2017, the County and the Organization extended its operating agreement for another five years through September 30, 2022. A second amendment was entered into in May 2022, extending the operating agreement to September 30, 2023. A new five-year operating agreement was entered into between the Organization and the County beginning December 1, 2023 and ending September 30, 2028 with the option for one five-year renewal.

The Management Agreement requires that net proceeds from the operation of the Facility are paid to the County and that operating deficits, if any, are funded by the County. The Organization provided net payments to the County during fiscal year 2023 and 2022. These amounts are presented net on the special-purpose statements of revenues, expenses and transfer as contractual funding transfers. Should the funding reimbursements from the County not be provided, the ongoing operations would be impaired. The County's approved budget for fiscal year ended September 30, 2023 and 2022 amounted to $5,780,000 and $5,350,000, respectively.

The County directly paid for machinery and equipment, insurance, legal, inspector general fee, and indirect operating expenses, which totaled $938,700 and $781,800 for the fiscal years ended September 30, 2023 and 2022, respectively. These expenses are not included in the accompanying special-purpose financial statements. Total management fees, including incentives for the years ended September 30, 2023 and 2022, were $259,015 and $254,092, respectively, of which $90,500 and $52,000 remained unpaid as of September 30, 2023 and 2022, respectively. The unpaid balances of management fees are included as accrued expenses in the statement of assets and liabilities.

OPERATIONS AT THE PALM BEACH COUNTY CONVENTION CENTER MANAGED BY GLOBAL SPECTRUM, L.P.

NOTES TO SPECIAL-PURPOSE FINANCIAL STATEMENTS FOR THE YEARS ENDED SEPTEMBER 30, 2023 AND 2022

2. Management Agreement

All of the Facility staff are employed by the Organization. The Facility does not have any employees. The County reimbursed the Organization for employee salaries and related benefits in fiscal years 2023 and 2022. These amounts are included in contracted services in the special-purpose statements of activities.

3. Food, Beverage and Catering Services

The County engaged Ovations Food Services, L.P. (a related party to the Organization) to provide food, beverage, and catering services at the Facility. Global Spectrum, L.P. is not a party to this agreement and has no responsibility for food, beverage, and catering services. The activities of food, beverage and catering services are not included in the special-purpose statements of revenues, expenses and transfers for the years ended September 30, 2023 and 2022; however the activity for the year ended September 30, 2023 is included as unaudited combining information in the supplemental combining schedule of revenues, expenses and transfers.

4. Prepaid Expenses

The Organization incurred expenses, including prepaid expenses for software, operating expenses, and insurance deposits, for services to be provided after fiscal years ending September 30, 2023 and 2022, and these amounts have been properly included in prepaid expenses in the special-purpose statements of assets and liabilities.

5. Contingencies

While the Organization and other parties may be involved in various legal actions arising in the normal course of business, management does not believe such matters will have a material negative effect upon the Convention Center Operations or these special-purpose financial statements.

6. Leases

The Organization leases minimal equipment, but does have various maintenance contracts. However, there are no long-term leases/contracts that create commitments into future years as they can be terminated at any time, or are on a month-to-month basis.

7. Related Party Transactions

The Organization earns a management fee as compensation for operating the Facility. Management fees include both fixed and variable portions. The total amount earned for the years ended September 30, 2023 and 2022 by the Organization was $259,015 and $254,092, respectively. Management fees include $38,500 and $40,000 as an incentive fee for the years ended September 30, 2023 and 2022, respectively. Accrued balance of incentive fee as of September 30, 2023 and 2022, amounted to $90,500 and $52,000, respectively, pending approval from the County. Accounts payable for fixed management fee as of September 30, 2023 and 2022, amounted to $73,505, and $17,841, respectively.

GLOBAL SPECTRUM, L.P.

NOTES TO SPECIAL-PURPOSE FINANCIAL STATEMENTS FOR THE YEARS ENDED SEPTEMBER 30, 2023 AND 2022

7. Related Party Transactions

In addition, the Facility purchases certain operating services including employee benefits and related expenses, insurance coverage, and meeting and convention expenses from the Organization. Total expense for these services for the years ended September 30, 2023 and 2022 purchased from the Organization was $985,002 and $833,778, respectively. Accounts payable for operating services as of September 30, 2023 and 2022, amounted to $387,455 and $147,204, respectively.

8. Credit and Business Concentrations

Business Concentration

The Facility received approximately 29% and 26% of total revenues from five customers during the years ended September 30, 2023 and 2022, respectively. One of the five customers represents approximately 9% and 6% of total revenues for the years ended September 30, 2023 and 2022, respectively.

Credit Concentration

The Organization maintains its cash in bank deposit accounts, which at times, may exceed federally insured limits. Accounts are guaranteed by the Federal Deposit Insurance Corporation (FDIC) up to $250,000. As of September 30, 2023 and 2022, there was approximately $2,848,900 and $2,705,800, respectively, in excess of the FDIC limit. The Organization has not experienced any losses on such accounts and management believes the Organization is not exposed to any significant credit risk arising from such balances.

9. Subsequent Events

Management has evaluated subsequent events through April 8, 2024, the date on which the specialpurpose financial statements were available to be issued, and determined there were no further events to disclose in these special-purpose financial statements.

OPERATIONS AT THE PALM BEACH COUNTY CONVENTION CENTER MANAGED BY GLOBAL SPECTRUM, L.P.

COMBINING SCHEDULE OF REVENUES, EXPENSES AND TRANSFERS (UNAUDITED) FOR THE YEAR ENDED SEPTEMBER 30, 2023

OPERATIONS

AT THE

PALM BEACH COUNTY CONVENTION CENTER MANAGED BY GLOBAL SPECTRUM, L.P.

NOTES TO SUPPLEMENTARY INFORMATION (UNAUDITED) FOR THE YEAR ENDED SEPTEMBER 30, 2023

1. General

The accompanying supplemental combining schedule of revenues, expenses and transfers (unaudited) presents the activities of the Operations at the Palm Beach County Convention Center, managed by Global Spectrum, L.P., and the food, beverage and catering services managed by a third-party vendor, Ovations Food Services, L.P., for the year ended September 30, 2023.

2. Basis of Accounting

The accompanying supplementary information is presented using the accrual basis of accounting.

See independent auditor’s report.

Discover The Palm Beaches

Holyfield & Thomas, LLC

Certified Public Accountants & Advisors

125 Butler Street  West Palm Beach, FL 33407 (561)689-6000  Fax (561) 689-6001  www.holyfieldandthomas.com

ToManagementandtheAuditCommitteeof Discover Palm Beach County, Inc.

West Palm Beach, Florida

Ladies and Gentlemen:

In planning and performing our audit of the financial statements of Discover Palm Beach County, Inc. (the “Organization”) as of and for the year ended September 30, 2023, in accordance with auditing standards generally accepted in the United States of America, we considered the Organization’s internal control over financial reporting (internal control) as a basisfordesigningauditproceduresthatareappropriateinthecircumstancesforthepurpose of expressing our opinion on the financial statements, but not for the purpose of expressing an opinion on the effectiveness of the Organization’s internal control. Accordingly, we do not express an opinion on the effectiveness of the Organization’s internal control.

DefinitionsRelatedtoInternalControlDeficiencies

A deficiency ininternalcontrolexistswhenthedesignor operationof acontroldoes notallow management or employees, in the normal course of performing their assigned functions, to prevent, or detect and correct, misstatements on a timely basis. A material weakness is a deficiency or a combination of deficiencies in internal control, such that there is a reasonable possibility that a material misstatement of the Organization’s financial statements will not be prevented, or detected and corrected, on a timely basis.

OurResponsibilities

Our consideration of internal control was for the limited purpose described in the first paragraph and was not designed to identify all deficiencies in internal control that might be material weaknesses. Given these limitations, during our audit we did not identify any deficiencies in internal control that we consider to be material weaknesses. However, we do provide a current status remark concerning deficiencies in internal control arising from the prior engagement that we considered to be a control deficiency, or a comment for your consideration in addressing best practices in internal control.

Discover Palm Beach County, Inc.

March 13, 2024

Page 2

PRIOR YEAR COMMENT

Identified Deficiencies in Internal Control

20-03 – Proper Cut-off at Year End

During this year and prior year audits, journal entries were recorded to achieve proper cut-off at year-end. Generally Accepted Accounting Principles require transactions to be recorded in the correctperiod.Werecommendedthatattentionbegiventotransactiondatestoensuretheproper period is posted.

Management’s response: The processing of transactions at year-end continues to be a challenge due to the managing of expenses between the contract reimbursement process, which is in a cash basis and the financial reporting time frame, which is on an accrual basis. As a result of the in-depth review of the Fiscal Year End process, we have now created a comprehensive Year-end checklist that has significantly reduced the volume of adjusting entries required in order to reconcile back to the county funding report.

Current status: We noted during our current audit that Management continues to make significant improvement in this area.

TheOrganization’swritten responsetothecomments mentioned abovehave not beensubjected to the audit procedures applied in the audit of the financial statements and, accordingly, we express no opinion on them.

This communication is intended solely for the information and use of Management, the Audit Committee,andotherswithintheOrganization,andisnotintendedtobe,andshouldnotbe,used by anyone other than these specified parties.

Holyfield & Thomas, LLC

West Palm Beach, Florida

March 13, 2024

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Holyfield & Thomas, LLC

Certified Public Accountants & Advisors

125 Butler Street  West Palm Beach, FL 33407 (561)689-6000  Fax (561) 689-6001  www.holyfieldandthomas.com

March 12, 2024

To the Audit Committeeof Discover Palm Beach County, Inc.

West Palm Beach, Florida

We have audited the financial statements of Discover Palm Beach County, Inc. (the “Organization”) for the year ended September 30, 2023, and plan to issue our report in April 2024. Professional standards requirethat weprovide you with information aboutour responsibilities under generally accepted auditing standards, as well as certain information related to the planned scope and timing of our audit. We have communicated such information in our letter to you dated September 29, 2023. Professional standards also require that we communicateto you the following information related to our audit.

Significant Audit Matters

Qualitative Aspects of Accounting Practices

Management is responsible for the selection and use of appropriate accounting policies. The significant accounting policies used by Discover Palm Beach County, Inc. are described in Note 1 to the financial statements. As described in Note 1, the Organization adopted the new FASB Accounting Standards Update (ASU) 2016-02, Leases (Topic 842). This new standard replaced existing leasing rules with a comprehensive lease measurement and recognition standard and expanded disclosure requirements. Under thenew guidance,leases withterms of morethan12months arerequired toberecognizedin the statement of financial position as liabilities, with a corresponding “right-of-use” asset. The Organization also adopted the new FASB Accounting Standards Update(ASU) 2020-07, Not-for-Profit Entities (Topic 958): PresentationandDisclosures byNot-for-Profit Entitiesfor ContributedNonfinancialAssets,in20212022.Thepurposeofthestandardistoclarifythepresentationanddisclosureofcontributednonfinancial assetswithanintentiontoprovidethereaderofthefinancialstatementsaclearedunderstandingofwhat type of nonfinancial assets were received and how they are used and recognized by the not-for-profit. The application of these new standards had no significant impact on the Organization’s financial statements.

We noted no transactions entered into by the Organization during the year for which there is a lack of authoritative guidance or consensus. All significant transactions have been recognized in the financial statements inthe proper period.

Accounting estimates are an integral part of the financial statements prepared by management and are based on management’s knowledge and experience about past and current events and assumptions about futureevents. Certain accounting estimates are particularly sensitive because of theirsignificance to the financial statements and because of the possibility that future events affecting them may differ significantly from those expected. The most sensitive estimates affecting the financial statements were:

 Management’s estimate of accounts receivable from Palm Beach County, which is based on expenses incurred by the Organization and related cost-reimbursement submissions to Palm Beach County.

 Management’s estimate of the settlement the value of accounts payable, accrued expenses, and deferred revenue, which is based onmanagement’s experience and analysis.

Discover Palm Beach County, Inc.

March 12, 2024

Page 2

Certainfinancialstatement disclosuresareparticularlysensitivebecauseoftheirsignificancetofinancial statement users. The most sensitive disclosure affecting thefinancial statements was:

 The disclosure of transactions with Palm Beach County and economic dependency presented in Note 3 to the financial statements.

The financial statement disclosures are neutral, consistent, and clear.

Difficulties Encountered in Performing the Audit

We encountered no significant difficulties in dealing with management in performing and completing our audit.

Corrected and Uncorrected Misstatements

Professional standardsrequireus toaccumulateallmisstatements identified during the audit, other than those that are clearly trivial, and communicate them to the appropriate level of management. Management has corrected all such misstatements. See the attached schedule of adjusting journal entries for the material misstatements detected as a result of audit procedures and corrected by management.

Disagreements with Management

For purposes of this letter, a disagreement with management is a financial accounting, reporting, or auditing matter, whether or not resolved to our satisfaction, that could be significant to the financial statementsortheauditor’sreport.Wearepleasedtoreportthatnosuchdisagreementsaroseduringthe course of our audit.

Management Representations

We will request certainrepresentations from management in the management representation letter.

Management Consultations with Other Independent Accountants

Insomecases,managementmaydecidetoconsultwithotheraccountantsaboutauditingandaccounting matters,similartoobtaininga“secondopinion”oncertainsituations.Ifaconsultationinvolvesapplication of an accounting principle to the Organization’s financial statements or a determination of the type of auditor’s opinion that may be expressed on those statements, our professional standards require the consulting accountant to check with us to determine that the consultant has all the relevant facts. To our knowledge, there were no such consultations with other accountants.

Other Audit Findings or Issues

We generally discuss avariety of matters, including the application of accounting principles and auditing standards, withmanagementeachyearpriortoretentionastheOrganization’sauditors.However,these discussionsoccurredinthenormalcourseof ourprofessionalrelationshipandour responseswerenota condition to our retention.

Other Matters

With respect to the supplementary information accompanying the financial statements, wemade certain inquiries of management and evaluated the form, content, and methods of preparing the information to determine that the information complies with U.S. generally accepted accounting principles, the method of preparing it has not changed fromthe prior period, andthe information is appropriate and complete in relation to our audit of the financial statements. We compared and reconciled the supplementary information to the underlying accounting records used to prepare the financial statements or to the financial statements themselves.

Discover Palm Beach County, Inc.

March 12, 2024

Page 3

Closing

We are pleased to respond to any questions you have about the audit or the contents of this letter. We appreciate the opportunity to be of serviceto you with respect to your audit and accounting needs.

ThisinformationisintendedsolelyfortheuseoftheAuditCommitteeandmanagementofDiscoverPalm Beach County, Inc. and is not intended to be, and should not be, used by anyone other than these specified parties.

Very truly yours,

Holyfield & Thomas, LLC

West Palm Beach, Florida

March 12, 2024

Adjusting Journal Entries JE # 1X-02

Adjusting Journal Entries JE # 2N-01

reverse

DISCOVERPALMBEACHCOUNTY,INC.

REPORTONAUDITOF FINANCIALSTATEMENTS

FortheYearsEnded September30,2023and2022

Holyfield & Thomas, LLC

Certified Public Accountants & Advisors

125 Butler Street  West Palm Beach, FL 33407 (561) 689-6000  Fax (561) 689-6001  www.holyfieldandthomas.com

TotheBoardofDirectorsof

DiscoverPalmBeachCounty,Inc.

WestPalmBeach,Florida

Opinion

We have audited the accompanying financial statements of Discover Palm Beach County, Inc. (anot-for-profit corporation) which comprise the statements of financial position as of September 30, 2023and 2022, andthe relatedstatementsofactivities, cashflows, andfunctionalexpenses fortheyearsthenended,andtherelatednotestothefinancialstatements.

In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Discover Palm Beach County,Inc., as of September 30, 2023 and 2022, and the changes in itsnet assets and its cash flowsfor the yearsthen ended in accordance with accounting principlesgenerallyacceptedinthe United States of America.

BasisofOpinion

We conducted our audit in accordance with auditing standards generally accepted in the United States of America. Our responsibilities under those standards are further described in the Auditor’s Responsibilities for the Audit of the Financial statements section of our report. We are required to be independent of Discover Palm Beach County, Inc. and to meet our other ethical responsibilities in accordance with the relevant ethical requirements relating to our audit. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis forouraudit opinion.

ResponsibilitiesofManagementfortheFinancialStatements

Management is responsible for the preparation and fair presentation of these financial statements in accordance with accounting principles generally accepted in the United States of America, and for the design, implementation, and maintenanceof internalcontrolrelevant to the preparation and fair presentation of financial statements that are free from material misstatement,whetherdue tofraud or error.

In preparing the financial statements, management is required to evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about Discover Palm Beach County, Inc.’s ability to continue as a going concern within one year after the date that thefinancialstatements areavailabletobeissued.

Auditor’sResponsibilitiesfortheAuditoftheFinancialstatements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not a guarantee that an audit conducted in

accordance with generally accepted auditing standards will always detect a material misstatement when it exists. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Misstatements, including omissions, are considered material if there is a substantial likelihood that, individually or inthe aggregate,theywouldinfluencethejudgmentmadebyareasonable user basedonthe financialstatements.

In performinganaudit inaccordancewith generallyaccepted auditingstandards,we:

 Exercise professional judgment and maintain professional skepticism throughout the audit.

 Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and design and perform audit procedures responsive to those risks. Such procedures include examining, on a test basis, evidence regarding the amountsanddisclosuresinthefinancialstatements.

 Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of Discover Palm Beach County, Inc.’s internalcontrol.Accordingly, nosuchopinionisexpressed.

 Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluate the overall presentationofthefinancialstatements.

 Conclude whether, in our judgment, there are conditions or events, considered in the aggregate, that raise substantial doubt about Discover Palm Beach County, Inc.’s ability to continueasa goingconcernforareasonableperiodoftime.

We are required to communicate with those charged with governance regarding, among other matters, the planned scope andtiming of the audit, significant audit findings, and certain internal controlrelatedmattersthat weidentifiedduringtheaudit.

ReportonSupplementaryInformation

Our audit was conducted for the purpose of forming an opinion on the financial statements as a whole. The accompanying schedule of functionalexpenses– contract and non-contract on page 17 is presented for purposes of additional analysis and is not a required part of the financial statements. Such information is the responsibility of management and was derived from and relates directly to the underlying accounting and other records used to prepare the financial statements. The information has been subjected to the auditing procedures applied in the audit of the financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the financial statements or to the financial statements themselves, and other additional procedures in accordance with auditing standards generally accepted in the United States of America. In our opinion, the information is fairly stated in all material respects in relation to the financialstatementsasawhole.

Holyfield & Thomas, LLC

WestPalmBeach,Florida

March13,2024

of September 30, 2023 and 2022

LIABILITIES AND NET ASSETS

See accompanying notes to financial statements.

For the Years Ended September 30, 2023 and 2022

See accompanying notes to financial statements.

For the Years Ended September 30, 2023 and 2022

See accompanying notes to financial statements.

For the Year Ended September 30, 2023

For the Year Ended September 30, 2022

1. SummaryofSignificantAccountingPolicies

Nature of Organization

Discover Palm Beach County, Inc. d/b/a Discover The Palm Beaches (the “Organization”) servesas Palm BeachCounty’stravelplanningresourcefordomesticandinternationaltravelers. Astheofficialdestination marketing organization charged with promoting Palm Beach County (the “County”) as a leisure travel and meetingsdestination,DiscoverThePalmBeachesplansandexecutesinitiativesinabroadrangeofareas includingsales,marketing,research,visitorservices,andindustryrelations.

Formed in 1983, Discover Palm Beach County, Inc. is a private, not-for-profit corporation funded primarily by the collection of the Palm Beach County tourist development tax, or “bed tax”, paid by lodging guests for short-term stays in Palm Beach County. The Organization’s mission is to increase visitation and contributetotheoveralleconomicdevelopmentinPalmBeachCounty.

Basis of Accounting

The financial statements of the Organization are prepared using the accrual basis of accounting whereas revenues are recognized when earned and expenses are recognized when incurred. This basis of accountingconformstoaccountingprinciplesgenerallyacceptedintheUnitedStatesofAmerica.

Financial Statement Presentation

The Organization’s financial statements are presented in accordance with FASB Accounting Standards Codification (FASB ASC) 958-205 Not-for-Profit Entities Presentation of Financial Statements. This standard requiresthe classification of the Organization’s Statements of Financial Position and Statements of Activities according to two classes of net assets: net assets without donor restrictions and net assets withdonorrestrictions:

Net assets without donor restrictions – this classification includes those net assets whose use is not restricted by donors, even though their use may be limited in other respects, such as by contract or by Board designation. Changes in net assets arising from exchange transactions (except income and gains on assets that are restricted by donors or by law) are included in net assetswithoutdonorrestrictions.

Net assets with donor restrictions – this classification includes those net assets whose use by the Organization has been limited by donors to either a later period of time, or after a specified date, or for a specified purpose. This classification also includes net assets that must be maintained by the Organization in perpetuity. Net assets with donor restrictions in perpetuity increase when the Organization receives contributions for which donor-imposed restrictions limiting the Organization’s use of an asset or its economic benefits neither expire with the passage of time nor can be removed by the Organization meeting certain requirements. As of the years ended September 30, 2023 and 2022, the Organization had no net assets with donor restrictions.

1. SummaryofSignificantAccountingPolicies,continued

Use of Estimates

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assetsand liabilities at the date ofthefinancialstatementsandthereported amounts ofrevenuesandexpensesduringthereportingperiod.Actualresultscoulddifferfromthoseestimates.

Fair Value of Financial Instruments

FASB ASC Topic 820-10, Fair Value Measurements, establishes a framework for measuring fair value. This frameworkprovidesa fairvalue hierarchythat prioritizesthe inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurement) and the lowest priority to unobservable inputs(Level3measurement).

ThethreelevelsofthefairvaluehierarchyunderFASBASCTopic820-10aredescribedbelow:

Level 1 – Inputs to the valuation methodology are unadjusted quoted prices for identical assets or liabilities in active markets that the Organization has theabilitytoaccess.

Level 2 – Inputstothevaluationmethodology include:

 Quotedpricesforsimilarassetsorliabilities inactivemarkets;

 Quoted prices for identical or similar assets or liabilities in inactive markets;

 Inputs other than quoted prices that are observable for the asset or liability;

 Inputs that are derived principally from or corroborated by observable marketdatabycorrelationorothermeans.

 If the asset or liability has a specified (contractual) term, the Level 2 input mustbeobservableforsubstantially thefulltermof theasset orliability.

Level 3 – Inputs to the valuation methodology are unobservable and significant to thefairvaluemeasurement.

The asset’s or liability’s fair value measurement level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. Valuation techniques used needtomaximizetheuse of observableinputsandminimizetheuse of unobservableinputs.

1. SummaryofSignificantAccountingPolicies,continued

Fair Value of Financial Instruments,

continued

The following methods and assumptions were used by the Organization in estimating the fair value of financialinstrumentsthatwere notdisclosedunder FASBASCTopic820.

 Cash and cash equivalents, reimbursement, receivables, accounts payable, and accrued liabilities – The carrying amount reported approximates their fair values due to their short-termnature.

Thefollowingmethods andassumptionswereusedbytheOrganization inestimatingthefairvalueof financialinstrumentsthataremeasuredatfairvalue onarecurring basisunder FASBASCTopic820.

 Investments in and obligations under deferred compensation plan – consists of balanced mutualfundsmeasuredat net asset value (NAV)quoted by thecustodianas of the close of business. Theseinvestmentsare allmeasuredaccordingtoLevel1.

Cash and Cash Equivalents

The Organization considers cash held inchecking and short-term investments with original maturities of threemonthsor lesstobecashequivalents.

Reimbursement due from Palm Beach County

The Organization records contract reimbursements due from Palm Beach County as allowable expenses areincurred,approved,andbilled.Allamountsaredeemedfullycollectibleandnoallowanceisconsidered necessary.

Membership and Other Receivables

Membership and other receivables consist of amounts charged to local hotels and other local businesses for participation in the Organization’s advertising programs, all of which arecarried at net realizable value. The Organization provides an allowance for uncollectible accounts that is based upon a review of outstanding receivables, historical collection information, and existing economic conditions. As of September 30,2023and2022, therewasnoallowance foruncollectibleaccounts.

Inventory

Inventory consists of promotional items (not for sale), and is stated at the lower of cost (first-in, first-out method)ormarket.

Prepaid expenses

Prepaid expenses consist of expenses (generally deposits) for operations, sales, and marketing activities scheduledtooccursubsequenttotheyear-end.

Accrued Expenses

Accruedexpensesconsistofaccruedpayroll,relatedpayrolltaxes,andemployeebenefits.

1. SummaryofSignificantAccountingPolicies,continued

Deferred Revenue

Deferred revenue consists of contract income received for expenses paid for operations, sales, and marketing activities scheduledto occur subsequent to year-end. This categoryalso includes three months of membership revenue collected and deferred in connection the membership period which runs on a calendaryear.

Deferred Compensation Plan

TheOrganizationprovidesadeferredcompensation planasmorefullydescribedinNote4.Inaccordance with the terms of such arrangements, the fair value of plan assets is reported as both an asset subject to theclaimsofcreditorsandasaliabilitytotheplanbeneficiary.

County Contract Advance

In connection with the Organization’s administrative services and agency contract (further described in Note 3), Palm Beach County advanced the Organization $5,500,000 for use in facilitating vendor paymentsandotherworkingcapitalneeds,pendingreimbursementofrequestedexpenses.

Revenues and Support

 Contract income –isreceivedfromtheCountyona cost-reimbursementbasis. Revenuesfromthe contract are deemed earned and recognized in the statements of activities when expenses are incurredandapprovedforthepurposesspecified.

 Membership income – Partner membership benefits include listings on the Organization’s website, listings in the Organization’s official publications, access to partner events, and opportunities to participateintradeshowsandevents.Membershipincome isrecognizedasrevenuewhenearned overthemembershipperiod,whichisgenerallyoverthecalendaryear.

 Special promotional activity income – is revenue received from other organizations and individuals in order to participate in promotional events with the Organization. Special promotional activity incomeisrecognizedasrevenuewhenthetradeshoworotherpromotionaleventoccurs.

Donated Services and In-Kind Contributions

In accordance with FASB ASC 958-605, Revenue Recognition, the Organization records the value of those donated services and in-kind contributions that require specialized skills and that would typically needtobepurchasedifnotprovidedbydonation.Donatedservicesandin-kindcontributionsincludethose that create or enhance the Organization’s efforts to provide certain tourism, marketing, and sales-related programs to promote Palm Beach County, Florida as a tourist destination. These services are reflected in the financial statements at the date of receipt at their estimated fair market value as in-kind income and expenseintheperiodrendered.

1. SummaryofSignificantAccountingPolicies,continued

Donated Services and In-Kind Contributions,

continued

During the years ended September 30, 2023 and 2022, the Organization received donated services and in-kindcontributions, such asreceptionsandroom accommodationsfor clients andgroupsand other noncashcontributions,whicharerecordedasdonatedservicesandin-kindcontributionsattheirestimatedfair value at the date of donation. During the years ended September 30, 2023 and 2022, the total amount of in-kind contributions and donated services received amounted to approximately $3,388,000 and $2,716,000,respectively.SeeNote5formoredetails.

Expenses

Thecosts ofprovidingthevariousprogramsandotheractivitieshave been detailedinthestatements of functional expenses and summarized on a functional basis in the statements of activities. Expenses associated with a specific program are charged directly to that program. Expenses which benefit more thanoneprogramareallocated basedontherelative benefit provided.

Advertising

The Organization expenses the cost of advertising as incurred. During the years ended September 30, 2023 and 2022, the Organization incurred approximately $18,020,000 and $13,037,000, respectively, in advertising costs, which are reported as marketing - advertising in the statements of functional expenses. Ofsuchamounts,donatedservicesrepresentapproximately$3,207,000and$2,467,000,respectively.

Compensated Absences

The Organization has a policy to accumulate unused vacation up to a maximum of 192 hours on accrual earning levels. All accumulated vacation leave must be used in the following year with no carryover. Sick leave may be accumulated up to a maximum of 60 days (480 hours) and carried indefinitely, but is not paid out for other than sick time under any circumstances. Accumulated unpaid vacationbenefitsareaccruedasa liability and chargedto expense.

Reclassifications

Certain accounts in the prior year financial statements may have been reclassified in order to conform withthecurrent yearfinancialstatementpresentation.

Income Taxes

The Organization is exempt from federal and state income taxes under Section 501(c)(6) of the Internal Revenue Code of 1986 and Chapter 220.13 of Florida Statutes. However, income from certain activities not directly related to the Organization's tax-exempt purpose is subject to taxation as unrelated business income. Management does not believe that the Organization engaged in any unrelated business activities during the years ended September 30, 2023 and 2022, and accordingly there is no provision forincometaxesreflectedintheaccompanyingfinancialstatements.

FortheYearsEndedSeptember30,2023and2022

1. SummaryofSignificantAccountingPolicies,continued

Income Taxes, continued

The Organization follows FASB ASC 740-10, Accounting for Uncertainty in Income Taxes. This pronouncement seeks to reduce the diversity in practice associated with certain aspects of measurement and recognition in accounting for income taxes. It prescribes a recognition threshold and measurement attribute for financial statement recognition and measurement of a tax position that an entity takes or expects to take in a tax return. An entity may only recognize or continue to recognize tax positions that meet a “more likely than not” threshold. The Organization assesses its income tax positions based on management’sevaluationofthefacts,circumstancesandinformationavailableatthereportingdate.

TheOrganizationusesthe prescribedmore likelythan notthreshold whenmaking itsassessment. Forthe years ended September 30, 2023 and 2022, the Organization did not accrue any interest expense or penaltiesrelatedtotaxpositions,andtherearenoopenFederalorStatetaxyearscurrentlyunderaudit.

Recently Adopted Accounting Pronouncements

As of October 1, 2021, the Organization adopted the provisions of FASB ASU 2020-07, Not-for-Profit Entities (Topic 958): Presentation and Disclosures by Not-for-Profit Entities for Contributed Nonfinancial Assets. Thepurposeofthestandardistoclarifythepresentationanddisclosureofcontributednonfinancial assets with an intention to provide the reader of the financial statements a clearer understanding of what typeofnonfinancialassetswerereceivedandhowtheyareusedandrecognizedbythenot-for-profit.

Recent Accounting Policies

In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842). ASU 2016-02 replaces existing leasing rules with a comprehensive lease measurement and recognition standard and expanded disclosure requirements. ASU 2016-02 will require lessees to recognize most leases on their statement of financial position as “right of use assets” with corresponding liabilities. The Organization didnot haveanyleaseforthe yearsendingSeptember30, 2023 and2022.

2. LiquidityandAvailabilityofResources

Financial assets available for general expenditure within one year, that is, without donor restrictions or otherrestrictionslimitingtheirusecomprisethefollowing:

Cashandcash equivalents $ 4,190,721

Reimbursementduefrom PalmBeach County 5,031,954

Membershipandotherreceivables 108,863

Financialassets availabletomeet general expendituresoverthenext 12months $ 9,331,358

2. LiquidityandAvailabilityofResources,continued

The Organization receives significant revenue from a Palm Beach County contract, which typically covers over 90% of its operating expenditures on a direct reimbursement basis. The Organization regularly monitors liquidity required to meet its operating needs and other contractual commitments. The related resources have been included in the quantitative information detailing the financial assets availabletomeet generalexpenditureswithin oneyear.

3. TransactionswithPalmBeachCountyandEconomicDependency

The Organization and the County entered into an agreement for administrative services commencing on October 1, 2022 and expiring on September 30, 2027. The contract provides that the Organization will perform or administer various functions such as advertising, public relations, tour package development, consumer and trade shows, destination reviews, foreign representation, and other projects and promotional services to assist the County in its tourism promotion effort. Expenses made by the Organization under the contract are subject to budgetary approval by the County and must be consistent with the County’s Tourist Development Plan. For the years ended September 30, 2023 and 2022, the contract budget was $14,397,527 and $13,535,896, which includes the County direct expenses (i.e., “inkind contributions”) totaling $180,437 and $248,896, respectively. The Organization has also received a CountyContractforfiscalyear2024intheamountofapproximately$27,212,286ofwhich$311,471willbe Countydirectexpense.

On behalf of the Organization, the County provided office space and directly paid communication and certain advertising expenses, which totaled approximately $180,000 and $249,000 for the years ended September 30, 2023 and 2022, respectively. This amount is included in Contract Income, Palm Beach County in the statements of activities and is reported according to natural and functional classifications in the statements of activities and statements of functional expenses. In addition, the County provides the Organizationwithallfurniture,fixtures,andequipmentnecessaryforitsoperations.

Management believes the Organization has sufficient planned revenues from the agreement with the Countytooperateandfulfillits mission. Therevenueprovided under contracts with PalmBeachCounty amounted to approximately $26,900,000 and $20,900,000, which represents 87% and 87% of the Organization’s total revenue, respectively, for the years ended September 30, 2023 and 2022. The loss of this agreement could have a negative impact upon the Organization. In addition, for the years ended September 30, 2023 and 2022, the County owed the Organization approximately $5,032,000 and $4,985,000, respectively, for costsrelatedtothiscontract.

In connection with the County contract, the Organization submits requests for reimbursement of allowable payments and expenditures and records the corresponding revenue as the request is approved and paid. Subsequent adjustments made in accordance with US GAAP to certain payments and expenditures may often create timing differences between the contract utilization according to the County and the amounts reported in these financial statements. The fiscal year-end amounts and relatedadjustmentsaresummarizedasfollows:

*Reconcilingitems include accrualbasistransactions.

4. RetirementPlans

The Organization has a defined contribution plan, which provides retirement benefits for substantially all employeesmeeting certain eligibilityrequirements. Employeesareeligibleafter one year of service. There arenomatchingcontributionsfromtheOrganization.TheOrganizationmaymakecontributionstotheplan consisting of a 3% Safe Harbor contribution and a discretionary contribution not to exceed 9.17% of the employee’s actual salary. Employees are immediately vested in the Safe Harbor contribution and fully vested in any discretionary contributions after three years of service with the Organization. Contributions for the years ended September 30, 2023 and 2022 totaled approximately $481,000 and $386,000, respectively.

In addition, the Organization has a deferred compensation retirement plan, which provides retirement benefits for certain of its key employees. Under the plan, employees are allowed to defer amounts of compensation up to the maximum allowable IRS limits. There are no matching contributions from the Organization. The Organization may make discretionary contributions to the plan. During the years ended September30, 2023and2022,theOrganizationmadenodiscretionarycontributionstothisplan.Fundsof the plan are invested in mutual funds as directed by the employee. These funds had a fair value of approximately$246,400and$200,300atSeptember30,2023and2022,respectively.

FortheyearsendedSeptember30, 2023and2022,theOrganizationdidnotincuradministrativecostsfor eitherplan.

5. In-KindContributions

Contributedgoodsandservices arereflectedasdonatedservicesandin-kind contributionssupport and expenses in the accompanying financial statements. The products and professional services are recorded at their estimated fair value. On behalf of the Organization, the County directly paid approximately $145,700 and $145,700 of administrative expenses, $19,500 and $21,500 of inspector general expenses, and $15,200 and $19,200 of technology support expenses for the years ended September 30,2023and2022, respectively.

In addition, the Organization recognized approximately $3,207,500 and $2,467,000 of advertising, promotion, and consulting as donated services, for the years ended September 30, 2023 and 2022, respectively. These amounts primarily include co-op advertising with sports fundraisers and international airlines, and are recognized as support, under the caption of donated services in the statements of activities, and as marketing – advertising in the statement of functional expenses. Advertising and promotion are valued based on prices of advertising time and/or space. Consulting services are value basedonthepriceoftheservicesprovided.

6. ConcentrationofCreditRisk

The Organization maintains its cash and cash equivalents in one qualified public depository pursuant to Florida State Statute, Chapter 280, Florida Security for Public Deposits Act, and are covered by either federaldepositoryinsuranceorcollateralheldbytheChiefFinancialOfficerofFlorida.

Any lossesto publicdepositorsare covered by applicable deposit insurance, sale of securities pledged as collateral, and, if necessary, assessments against other qualified public depositories of the same type as the depository in default. Management believes the Organization is not exposed to any significant credit riskonitsdeposits.

7. Subsequent Events

Management has evaluated subsequent events through March 13, 2024, the date on which these financial statements were available to be issued, and determined that they were no further disclosures required in these financial statements.

SUPPLEMENTARYINFORMATION

For the Year Ended September 30, 2023

Cultural Council For Palm Beach County

c c c c c c c c c c c

c c c c c c c c c c c

Holyfield & Thomas, LLC

Certified Public Accountants & Advisors

125 Butler Street  West Palm Beach, FL 33407 (561)689-6000  Fax (561) 689-6001  www.holyfieldandthomas.com

To the Board of Directors and Management of Cultural Councilof Palm Beach County, Inc.

Lake Worth Beach, Florida

InplanningandperformingourauditofthefinancialstatementsofCulturalCouncilofPalmBeachCounty, Inc. (the “Organization”) as of and for the year ended September 30, 2023, in accordance with auditing standardsgenerally acceptedintheUnitedStatesofAmerica, weconsideredtheOrganization’sinternal control over financial reporting (internal control) as a basis for designing audit procedures that are appropriate in the circumstances for the purpose of expressing our opinion on the financial statements, butnotforthepurposeofexpressinganopinionontheeffectivenessoftheOrganization’sinternalcontrol. Accordingly, we do not express an opinion on the effectiveness of the Organization’s internal control.

Definitions Related to Internal Control Deficiencies

A deficiency in internal control exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent, or detectandcorrect,misstatementsonatimelybasis.A materialweakness isadeficiencyoracombination of deficiencies in internalcontrol,suchthat there is a reasonable possibility that amaterial misstatement of the Organization’s financial statements will not be prevented, or detected and corrected, on a timely basis.

Our Responsibilities

Ourconsiderationofinternalcontrolwasforthelimitedpurposedescribedinthefirstparagraphandwas notdesignedtoidentifyalldeficienciesininternalcontrolthatmightbematerialweaknesses.Giventhese limitations, during our audit we did not identify any deficiencies in internal control that we consider to be material weaknesses. However, material weakness may exist that have not been identified.

This communication is intended solely for the information and use of management, those charged with governance and others within the Organization, and is not intended to be and should not be used by anyone other than thesespecified parties.

Holyfield & Thomas, LLC

West Palm Beach, Florida January 16, 2024

CULTURALCOUNCILOF PALMBEACHCOUNTY,INC.

REPORTONAUDITOF FINANCIALSTATEMENTS

FortheYearEndedSeptember30,2023 (withcomparabletotalsfor2022)

Holyfield & Thomas, LLC

Certified Public Accountants & Advisors

125 Butler Street  West Palm Beach, FL 33407 (561)689-6000  Fax (561) 689-6001  www.holyfieldandthomas.com

TotheBoardofDirectorsof CulturalCouncilofPalmBeachCounty,Inc.

LakeWorthBeach,Florida

ReportontheAuditoftheFinancialStatements Opinion

We have audited the accompanying financial statements of Cultural Council of Palm Beach County, Inc., (a Florida nonprofit corporation), which comprise the statement of financial position as of September30,2023, andtherelatedstatementsofactivities,cashflows,andfunctionalexpensesfor theyearthenended,andtherelatednotestothefinancialstatements.

In our opinion, the financial statements present fairly, in allmaterial respects, the financial position of Cultural Council of Palm Beach County, Inc., as of September 30, 2023, and the changes in its net assets and its cash flows for the year then ended in accordance with accounting principles generally acceptedintheUnitedStatesofAmerica.

BasisforOpinion

WeconductedourauditinaccordancewithauditingstandardsgenerallyacceptedintheUnitedStatesof Americaandthestandardsapplicabletofinancialauditscontainedin Government Auditing Standards, issuedbytheComptrollerGeneralof theUnitedStates.Ourresponsibilitiesunderthosestandardsare furtherdescribedintheAuditor’sResponsibilitiesfortheAuditoftheFinancialStatementssectionofour report.WearerequiredtobeindependentofCulturalCouncilofPalmBeachCounty,Inc.andtomeetour otherethicalresponsibilities,inaccordancewiththerelevantethicalrequirementsrelatingtoouraudit.We believethattheauditevidencewehaveobtainedissufficientandappropriatetoprovideabasisforour auditopinion.

Management’sResponsibilityfortheFinancialStatements

Management is responsible for the preparation and fair presentation of these financial statements in accordancewithaccountingprinciplesgenerallyacceptedintheUnitedStatesofAmerica;thisincludes the design, implementation, and maintenance of internal control relevant to the preparation and fair presentationof financialstatementsthat arefreefrommaterialmisstatement, whetherduetofraudor error.

Inpreparingthefinancialstatements,managementisrequiredtoevaluatewhetherthereareconditions or events, considered in the aggregate, that raise substantial doubt about Cultural Council of Palm Beach County, Inc.’s ability to continue as a going concern within one year after the date that the financialstatementsareavailabletobeissued.

Auditor’sResponsibilityfortheAuditoftheFinancialStatements

Ourobjectivesaretoobtainreasonableassuranceaboutwhetherthefinancialstatementsasawhole arefreefrommaterialmisstatement,whetherduetofraudorerror,andtoissueanauditor’sreportthat includesouropinion.Reasonableassuranceisahighlevelofassurancebutisnotabsoluteassurance and therefore is not a guarantee that an audit conducted in accordance with generally accepted auditing standards and Government Auditing Standards will always detect a material misstatement whenitexists.Theriskofnotdetectingamaterialmisstatementresultingfromfraudishigherthanfor one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations,ortheoverrideofinternalcontrol.Misstatementsareconsideredmaterialifthereis asubstantiallikelihoodthat, individuallyor intheaggregate, theywouldinfluencethejudgmentmade byareasonableuserbasedonthefinancialstatements.

In performing an audit in accordance with generally accepted auditing standards and Government Auditing Standards,we:

 Exerciseprofessionaljudgmentandmaintainprofessionalskepticismthroughouttheaudit.

 Identifyandassesstherisksofmaterialmisstatementofthefinancialstatements,whetherdue to fraud or error, and design and perform audit procedures responsive to those risks. Such proceduresincludeexamining,onatestbasis,evidenceregardingtheamountsanddisclosures inthefinancialstatements.

 Obtain an understanding of internal control relevant to the audit in order to design audit proceduresthatareappropriateinthecircumstances,butnotforthepurposeofexpressingan opinion on the effectiveness of the Cultural Council of Palm Beach County, Inc.’s internal control.Accordingly,nosuchopinionisexpressed.

 Evaluatetheappropriatenessofaccountingpoliciesusedandthereasonablenessofsignificant accountingestimatesmadebymanagement,aswellasevaluatetheoverallpresentationofthe financialstatements.

 Concludewhether,inourjudgment,thereareconditionsorevents,consideredintheaggregate, that raise substantial doubt about the Cultural Council of Palm Beach County, Inc.’s ability to continueasagoingconcernforareasonableperiodoftime.

Wearerequiredtocommunicatewiththosechargedwithgovernanceregarding,amongothermatters, theplannedscopeandtimingoftheaudit,significantauditfindings,andcertaininternalcontrolrelated mattersthatweidentifiedduringtheaudit.

OtherReportingRequiredby GovernmentAuditingStandards

Inaccordancewith Government Auditing Standards,wehavealsoissuedourreportdatedJanuary__, 2024, on our consideration of Cultural Council of Palm Beach County, Inc.’s internal control over financial reporting and on our tests of its compliance with certain provisions of laws, regulations, contracts,andgrantagreementsandothermatters.Thepurposeofthatreportistodescribethescope ofourtestingofinternalcontroloverfinancialreportingandcomplianceandtheresultsofthattesting, andnottoprovideanopiniononinternalcontroloverfinancialreportingoroncompliance.Thatreport is an integral part of an audit performed in accordance with Government Auditing Standards in consideringCulturalCouncilofPalmBeachCounty,Inc.’sinternalcontroloverfinancialreportingand compliance.

ReportonSummarizedComparativeInformation

We have previously audited the Cultural Council of Palm Beach County, Inc.’s 2022 financial statements,andweexpressedanunmodifiedauditopinioninourreportdatedJanuary11,2023.Inour opinion, the summarized comparative information presented herein as of and for the year ended September 30, 2022, isconsistent, inallmaterialrespects,withtheauditedfinancialstatementsfrom whichithasbeenderived.

Holyfield & Thomas, LLC

WestPalmBeach,Florida January16,2024

CULTURAL

As of September 30, 2023

For the Year Ended September 30, 2023

For the Year Ended September 30, 2023

For the Year Ended September 30, 2023

For the Year Ended September 30, 2023

See accompanying notes to financial statements.

FortheYearEndedSeptember30,2023

1. BusinessandSummaryofSignificantAccountingPolicies

Organization

Cultural Council of Palm Beach County, Inc. (the "Council") is anot-for-profit corporation whose main goalistopromotevisualandperformingartsandculturalactivitiesinPalmBeachCounty,Florida(the "County"). The Council commits its energies and resources to supporting the establishment of new cultural institutions, enhancing existing organizations, and encouraging opportunities for individual artists. The Council reviews applications for and monitors the use of certain funds provided by the TouristDevelopmentCouncil("TDC").

Basis of Presentation and Method of Accounting

The accompanying financial statements of the Council have been prepared on the accrual basis of accounting, whereby revenues and support are recognized when earned, and expenses when the corresponding liability is incurred. This basis of accounting conforms to accounting principles generally acceptedintheUnitedStatesofAmerica.

Financial Statements Presentation

The accompanying financial statements have been prepared on the accrual basis of accounting in conformity with the disclosure and display requirements of the Financial Accounting Standards Board (FASB) as set forthunder FASB Accounting Standards Codification (FASB ASC)958-205 Not-for-Profit Entities, Presentation of Financial Statements. Accordingly,thenetassetsoftheCouncilarereportedin eachofthefollowingclasses:

Net assets without donor restrictions –thisclassificationincludesthosenetassetswhoseuseis not restricted by donors, even though their use may be limited in other respects, such as by contract or by Board designation. Changes in net assets arising from exchange transactions (exceptincomeandgainsonassetsthatarerestrictedbydonorsorbylaw)areincludedinnet assetswithoutdonorrestrictions.TheCouncilreleasesanypurposerestrictionswhentheasset isplacedinservicefortheusestipulatedbythedonor.

Net assets with donor restrictions –thisclassification includesthosenetassetswhoseuse by theCouncilhasbeenlimitedbydonorstoeitheralaterperiodoftime,orafteraspecifieddate, orforaspecifiedpurpose. Thisclassificationalsoincludesnetassetsthatmustbemaintained bytheCouncilinperpetuity.Netassetswithdonorrestrictionsinperpetuityincreasewhenthe Councilreceivescontributionsforwhichdonor-imposedrestrictionslimitingtheCouncil’suseof anassetoritseconomicbenefitsneitherexpirewiththepassageoftimenorcanberemovedby theCouncilmeetingcertainrequirements.

Estimates

Management uses estimates and assumptions in preparing financial statements in conformity with accounting principles generally accepted in the United States of America. Those estimates and assumptionsaffectthereportedamountsofassetsandliabilities,thedisclosureofcontingentassetsand liabilities,andthereportedrevenueandexpenses.Actualresultscouldvaryfromtheestimatesthatwere used.

FortheYearEndedSeptember30,2023

Fair Value of Financial Instruments

The Council follows FASB ASC 820, Fair Value Measurement. This standard defines fair value, establishes a framework for measuring fair value, establishes a fair value hierarchy based on the quality of inputs used to measure fair value, and requires expanded disclosures about fair value measurementsoffinancialinstruments.

The standard also establishes a hierarchyfor inputs used inmeasuringfair valuethat maximizes the use of observable inputs when available. Observable inputs are those that market participants would useinpricingtheassetorliabilitybasedonthebestinformationavailableinthecircumstances.

Thefairvaluehierarchygivesthehighestprioritytoquotedpricesinactivemarketsforidenticalassets orliabilities(Level1)andlowestprioritytounobservableinputs(Level3).Ifinputsusedtomeasurethe financial instruments fall within different levels of the hierarchy, the categorization is based on the lowestlevelofinputthatissignificanttothefairvaluemeasurementoftheinstrument.

Thethreelevelsofthefairvaluehierarchyaredescribedbelow:

Level1– Inputsthatutilizequotedprices(unadjusted)inactivemarketsforidenticalassetsor liabilitiesthattheCouncilhastheabilitytoaccess.

Level2– Inputsthatincludequotedpricesforsimilarassetsandliabilitiesinactivemarketsand inputs that are observable for the asset or liability, either directly or indirectly, for substantiallythefulltermofthefinancialinstrument.Fairvaluesfortheseinstruments areestimatedusingpricingmodelsorquotedpricesofassetsandliabilitiesofsimilar characteristics.

Level3– Inputsthatareunobservablefortheassetsorliabilities,whicharetypicallybasedon anentity’sownassumptions,asthereislittle,ifany,relatedmarketactivity.

Theasset’sorliability’sfairvaluemeasurementlevelwithinthefairvaluehierarchyisbasedonthelowest level of any input that is significant to the fair value measurement. Valuation techniques used need to maximizetheuseofobservableinputsandminimizetheuseofunobservableinputs.

Cash and Cash Equivalents

Cash and cash equivalents consist primarily of checking, and money market accounts at federally charteredbanks.Forpurposesofthestatementofcashflows,allhighlyliquidinvestmentswithamaturity ofthreemonthsorlesswhenpurchasedarealsoconsideredtobecashequivalents,exceptforcashand money market balances held within the investment portfolio and as reported as part of the investment category.CashequivalentsincludeBoarddesignatedcash.

Investments

Investmentsincludeindividualpubliclytradedequitiesandcashequivalents.TheCouncilcontractswith investmentmanagerstoperformongoinginvestmentfunctionsandinvestmentperformancemonitoring, andinvestsaccordingtotheguidelinesthatareestablishedbytheCouncil'sCommitteeandapproved bytheBoardofDirectors.

1. BusinessandSummaryofSignificantAccountingPolicies,continued

Investments, continued

Purchasesandsalesofinvestmentsarerecordedonatrade-datebasis.Interestincomeisrecordedon theaccrualbasis.Dividendsarerecordedontheex-dividenddate.Realizedgainsorlossesonthesale of marketable securities are calculated using the specific-identification method. Change in unrealized gains andlossesrepresentsthechangeinthefair valueof theindividualinvestmentsfortheyear,or since the acquisition date, if acquired during the year. Investments are stated at fair value based on quotedmarketpriceswithinactivemarkets.Investmentincomeandgainsarereportedasincreasesinnet assetswithoutdonorrestrictions.

Receivables

 Grants receivable –consistofgrantreimbursementsduefromPalmBeachCountyandtheTDC.

 Pledges receivable – consist of pledges (unconditional promises to give) from members of the Council's Board of Directorsandfrom donorsformajor Gifts, andotherprograms. Pledgesare recorded when the promise is made. Pledges expected to be collected within one year are recorded at their net realizable value. Pledges expected to be collected in future years are initially recorded at fair value using the present value of their estimated future cash flows. The discountsonthoseamountsarecomputedusinganinterestrateapplicabletotheyearsinwhich the promises are received (see Note 6), with the annual change in discount included in contributionincomeinthestatementofactivities.

An allowance for doubtful accounts is provided for receivables for which there is a question as to ultimatecollectability.Uncollectibleaccountsarereservedforwhenmanagementhasdeterminedthat theamountwillnotbecollected.AsofSeptember30,2023,noallowancewasdeemednecessary,as allreceivablesaredeemedcollectible.

Prepaid Expenses

Asapartofitsnormaloperations,theCouncilpayscertainexpensesincludinginsurance,postage,utility, anddepositspriortotheactualuseofthoseassets.Suchamountsarerecordedasprepaidexpensesin thestatementoffinancialpositionandarerecognizedasexpenseasthebenefitisrealized.

Property and Equipment

Property and equipment is stated at cost, at the date of purchase, or fair value at the date of the donation. All purchases with a cost of $2,500 or more and a useful life in excess of one year are capitalized.Depreciationiscomputedusingthestraight-linemethodovertheestimatedusefullivesof theassetsrangingbetween3-39years.

In 2010, the Council received a donation of land and building (i.e., Montgomery Building), valued at $1,350,000 for use as its primary location. The Council reports these donated assets as net assets withoutdonorrestrictionsbecausethedonatedassetswereappropriatelyplacedinserviceasspecified bythedonor.

FortheYearEndedSeptember30,2023

1. BusinessandSummaryofSignificantAccountingPolicies,continued

Accrued Expenses

AsofSeptember30,2023,theCouncil'saccruedexpensesincludecostsofaccruedemployeebenefits andvariousotherexpenses.

Contract Reserve

In connection with the Council’sadministrativeservices and agency contract (see Note 5), Palm Beach CountyadvancedtheCouncil$1,000,000foruseinfacilitatingvendorpaymentsandotherworkingcapital needs,pendingreimbursementofrequestedexpensesandreplenishmentofthereserveaccount.

Revenue Recognition

Contributions, including unconditional promises to give, are recognized as revenue when the donor's commitmentisreceived.TheCouncilfollowstheguidanceofFASBASC958-605, Revenue Recognition. Contributions received are recorded as with or without donor restrictions depending on the existence and/ornatureofanydonorrestrictions.Allcontributionsareconsideredavailablewithoutdonorrestriction useunlessspecificallyrestrictedbythedonor.

Under this standard, contributions that are initially restricted as to time or purpose are required to be reportedaswithdonorrestrictionssupportandarelaterreclassifiedtonetassetswithoutdonorrestrictions uponexpirationofthetimeorpurposerestriction.Iftherestrictionplaceduponacontributionismetwithin thesameaccountingperiodasthereceiptofthecontribution,thestandardpermitsthecontributiontobe reportedwithoutdonorrestrictions.

TheStateofFlorida–LocalArtsAgencyprovidestheCouncilwithprogramfundingthatistobe used for program and/or supporting services. The Council recognizes revenue from grants in the period in whichtheamountsareearned.

CountyContract–Countyincomeisonacostreimbursementbasis.RevenuefromtheCountycontract is deemed earned and recognized in the statement of activities when reimbursement invoices are submittedtotheCountyforspecifiedexpenditures.

Revenues from the State of Florida – Specialty License Plate Program are considered contributions that are recorded as net assets with donor restrictions. These contributions and expenditures were madeinaccordancewithFloridaStatutes§320.08056and§320.08058.AsofSeptember30,2023,the Council received approximately $36,100 of its revenue from the State of Florida – Specialty License PlateProgram.

Functional Allocation of Expenses

ThecostsofprovidingthevariousservicestheCounciloffershavebeensummarizedonafunctionalbasis in the statement of activities. Expenses directly attributableto a specificfunctionalarea arereported as expenses of those functional areas. Other expenses are allocated among programs and supporting servicesbasedoneithertherelativesalariesincurredorrelativesquarefootageoccupancyoftheprogram inrelationtothetotalsquarefootageofthebuilding.

In-Kind Contributions

 Contributed Property –Contributionsofpropertyarerecordedassupportattheirestimatedfair value at the date of donation. Such contributions are reported as support without donor restrictions unless the donor has restricted the use of the contributed asset to a specific purpose. Assets contributed with explicit restrictions regarding their use and contributions of cashthat must be usedto acquire propertyandequipment are reportedas restricted support. Absent donor stipulations regarding how long those donated assets must be maintained, the Council reports expirations of donor restrictions when the contributed or acquired assets are placedinserviceasinstructedbythedonorandreclassifiesnetassetswithdonorrestrictionsto netassetswithoutdonorrestrictions.

 Contributed Services – The Council follows the guidance of FASB ASC 958-605, Revenue Recognition,fortheaccountingofcontributedservices.Inaccordancewiththisguidance,donated servicesarerecognizedascontributionsiftheservices(a)createorenhancenonfinancialassets or(b)requirespecializedskills,areperformedbypeoplewiththoseskills,andwouldotherwisebe purchasedbytheCouncil.Theseservicesarereflectedinthefinancialstatementattheirestimated fair market value on their date of receipt. Generally, contributed services that do not satisfy the criteriaandarenot recognized inthefinancialstatements. However, certain operating expenses arepaidonbehalfoftheCouncilasdescribedinNote13.

Store and Gallery Sales

The Councilmaintains aretailstoreto promotethe worksof localartistsandvendors. These itemsare heldonconsignmentandthereforearenotrecordedontheCouncil’sfinancialstatements.Salesderived fromthestoreandgalleryarerecognizedasrevenuewhensoldandtotaledapproximately$45,700forthe year ended September 30, 2023. Commissions tothe artists and related costs to cultural organizations amountedtoapproximately$33,000forthesamefiscalperiod.

Advertising

Advertising costs are expensed when incurred. Total advertising expense for the year ended September30,2023was$3,000,847andisreflectedunderagency,advertising,andmarketinginthe statementoffunctionalexpenses.

Tax Status

The Council is a Florida not-for-profit corporation, other than a private foundation, pursuant to Internal RevenueCodeSection501(c)(3)and,assuch,isnotrequiredtopayincometaxesonitsexemptfunction income.However,incomefromcertainactivitiesnotdirectlyrelatedtotheCouncil'stax-exemptpurposeis subjecttotaxationasunrelatedbusinessincome.FortheyearendedSeptember30,2023,management doesnotbelievetheCouncilhasanyliabilitywithrespecttounrelatedbusinessactivities,andthereforeno provisionforincometaxeshasbeenmade.

FortheYearEndedSeptember30,2023

1. BusinessandSummaryofSignificantAccountingPolicies,continued

Tax Status, continued

The Council follows the guidance of FASB ASC 740-10, Accounting for Uncertainty in Income Taxes, which seeks to reduce the diversity in practice associated with certain aspects of measurement and recognition in accounting for income taxes. This standard prescribes a recognition threshold and measurementattributeforfinancialstatementrecognitionandmeasurementofataxpositionthatanentity takesorexpectstotakeinataxreturn.Anentitymayonlyrecognizeorcontinuetorecognizetaxpositions that meet a “more likely than not” threshold. The Council assesses its income tax positions based on management’s evaluation of the facts, circumstances, and information available at the reporting date. ManagementdoesnotbelievethattheCouncilhasanysignificantuncertaintaxpositionsthat wouldbe material to the financial statements. Furthermore, there are no Federal or State open-year tax returns underaudit.

Recently Adopted Accounting Policies

AsofOctober1,2022,theOrganizationadoptedthenewFASBAccountingStandardsUpdate(ASU) 2016-02, Leases (Topic 842), and ASU 2018-11, Leases (Topic 842) – Targeted Improvements. The new standards replaced existing leasing rules with a comprehensive lease measurement and recognition standard and expanded disclosure requirements. Under the new guidance, leases with termsof more than 12months arerequired tobe recognized inthe statement of financial position as liabilities,withacorresponding“right-of-use”asset.

Comparable Financial Information

Thefinancialstatementsincludecertainprioryearsummarizedcomparativeinformationintotalbutnotby net asset class. Such information does not include sufficient detail to constitute a presentation in conformity with accounting principles generally accepted in the United States of America. Accordingly, suchinformationshouldbereadinconjunctionwiththeCouncil’sfinancialstatementsfortheyearended September 30, 2022, fromwhich the summarized information wasderived. Certain 2022 amounts may have been reclassified to conform to 2023 classifications with no effect on the previously reported changeinnetassets.

2. LiquidityandAvailabilityofResources

Financialassetsavailableforgeneralexpenditurewithinoneyear,thatis,withoutdonorrestrictionsor otherrestrictionslimitingtheirusecomprisethefollowing:

59,269

5,000 2,436,117

FortheYearEndedSeptember30,2023

2. LiquidityandAvailabilityofResources,continued

The Council regularly monitors liquidity required to meet its operating needs and other contractual commitments. The Council has various sources of liquidity at its disposal, including cash and investmentsdesignatedbytheboardforcontingenciesplusa$250,000lineofcredit,allofwhichmay bedrawnuponintheeventofunanticipatedfinancialdistressoranimmediateliquidityneed.Partofthe Council’sliquiditymanagementplanistoinvestcashinexcessofthemonthlyrequirementsintoshortterminvestments.

The Council receives significant revenue from a contract with Palm Beach County which typically coversover75%ofitsoperatingexpendituresonadirectreimbursementbasis.Italsoreceivesgrants andotherprivatedonations,someofwhichhavedonorrestrictionstobeusedinaccordancewiththe purpose of the restrictions, typically program costs that fulfill the mission of the Council. Because a donor’s restriction requires resources to be used in a particular manner or in a future period, the Council must maintain sufficient resources to meet those responsibilities to its donors. Some of the Council’s net assets with donor restrictions are available for general expenditure within one year of September30,2023becausetherestrictionsonthenetassetsareexpectedtobemetbyconducting thenormalprogramactivitiesoftheCouncilinthecomingyear.Accordingly,therelatedresourceshave been included in the quantitative information detailing the financial assets available to meet general expenditureswithinoneyear.

3. FairValueMeasurements

ThefollowingmethodsandassumptionswereusedbytheCouncilinestimatingthefairvalueoffinancial instrumentsthatwerenotdisclosedunderFASBASCTopic820.

 Cash equivalents –Thecarryingamountreportedapproximatesfairvalue.

 Grants, contributions, and other receivable – The carrying amount approximates fair value duetotheshorttermofthereceivables.

 Pledges receivable –Valuedatthepresentvalueoftheestimatedfuturecashflowusingan approximatediscountrateof1.0%.

 Accounts payable, accrued expenses, and grants payable –Thecarrying amountreported approximatesfairvalueduetotheshort-termdurationoftheinstruments.

 Lease obligations – The recordedvalue approximatesfair value, astheapplicable interest rateapproximatescurrentmarketrates.

ThefollowingmethodsandassumptionswereusedbytheCouncilinestimatingthefairvalueofassets that aremeasured at fair valueon a recurring basis under FASBASC Topic 820. There have been no changesinthemethodologiesusedasofSeptember30,2023.

 Exchange traded funds (ETFs)- fixed income, US & international equity – valued at the quoted market price by the custodian as of the last business day of the year.

 Beneficial Interest in Trust –Valuedatlevel3basedontheCouncil’sshareofthefairvalueof theassetsthatareheldbythecustodian,whichprovidesaperpetualstreamofincometothe Council.

FortheYearEndedSeptember30,2023

3. FairValueMeasurements,continued

Thefollowingtablesetsforthbylevel,withinthefairvaluehierarchy,theCouncil’sassetsatfairvalue asofSeptember30,2023:

Level3GainsandLosses

The table below sets forth a summary of changes in the fair value of the Council’s Level 3 asset, beneficialinterestintrust,fortheyearendedSeptember30,2023.

FASBASC820-10requiresdisclosureofquantitativeinformationabouttheunobservableinputsusedto measureLevel3assetsandliabilities.ThefollowingtableprovidesinformationaboutLevel3assets:

4. Endowments

FASBASC958, Not-for-Profit Entities, Presentation of Financial Statements,providesguidanceonthe net asset classification of donor-restricted endowment funds for a not-for-profit organization that is subject to an enacted version of the Uniform Prudent Management of Institutional Funds Act of 2006 (UPMIFA) and improves disclosures about an organization’s endowment funds (both donor-restricted endowmentfundsandBoard-designatedendowmentfunds),whetherornottheorganizationissubject toUPMIFA.

The State of Florida adopted the Florida Uniform Prudent Management of Institutional Funds Act (FUPMIFA),whichprovidesa)consistentinvestmentandspendingstandardstoallformsofcharitable funds,b)strengthenstheconceptofprudent investing,c)abandonshistoricdollarvalueasafloorfor expenditures and provides more flexibility to the organization in making decisions about whether to expendanyportionofanendowmentfund,andd)providesaprocessforthereleaseormodificationof restrictionsona gift instrument. The adoption bythe Councilofthe provisions ofthe newlaw didnot haveasignificantchangeinitsmanagementandinvestmentpoliciesofendowments.

FortheYearEndedSeptember30,2023

4. Endowments,continued

Asaresultofthisinterpretation,theCouncilclassifiesasnetassetsrestrictedinperpetuitybydonor(a) the original value of gifts donated to the permanent endowment, (b) the original value of subsequent gifts to the permanent endowment and (c) accumulations to the permanent endowment made in accordance with the direction of the applicable donor gift instrument at the time the accumulation is addedtothefund.Theremainingportionofthedonor-restrictedendowmentfundthatisnotclassified as net assets restricted in perpetuity by donor is classified as net assets restricted for a specific purpose by donor until those amounts are appropriated for expenditure by the Council in a manner consistentwiththestandardofprudence.

Objectives

Generally,theendowmentfundsareusedtofurtherthemissionoftheCouncil.Endowmentfundsare usedtoprovidesufficientliquiditytosupportongoingoperationsoftheCouncil,providefundsforcapital expendituresasmayberequiredfromtimetotime,launchnewinitiatives,andbuildanendowmentthat willgenerateincomethatmaybeusedforgeneraloperationsandsupporttheprogramsoftheCouncil. Donorrestrictedendowmentfundswillbeusedforthepurposesdesignatedbythedonors’restrictions.

Investment Principles

Investments shall be made solely in the best interest of the Council. The endowment funds shall be investedwithcare,skill,prudenceanddiligenceunderprevailingcircumstances,thataprudentperson acting in like capacity and familiar with such matters would use in the investment of an organization similartotheCouncil.

The Investment Committee is responsible for the oversight and management of the Council’s endowment funds, adhering to the limitations established for each endowment. Investments of the endowment funds shall be diversified to minimize the risk of large losses resulting from overconcentration of funds in a specific maturity, issue or type/class of securities. In managing the endowmentfunds,theInvestmentCommitteewillconsiderthefollowingfactors,ifrelevant:

 Generaleconomicconditions;

 Possibleeffectofinflationordeflation;

 Roleofeachinvestmentwithintheoverallinvestmentportfolio;

 Expectedreturn(incomeand/orappreciation);

 TheCouncil’sotherresources;

 Needtomakedistributionsforoperatingfunds,needtopreservecapital;

 AnyspecialvalueanassetmayholdforbenefittotheCouncil;and

 Totheextentapplicable,anyexpectedtaxconsequencesofdecisionorstrategies.

The Council’s endowment net asset composition by type as of September 30, 2023 consisted of the following:

FortheYearEndedSeptember30,2023

4. Endowments,continued

ChangesintheendowmentnetassetsfortheyearendedSeptember30,2023,andthereconciliationto theCouncil’snetassetcategoriesispresentedasfollows:

Board WithDonor Designated Restrictions Total

TheCouncil’sBoardshallannuallydeterminetheamount,ifany,offundstobeallocatedfromBoardDesignatedand/orDonorRestrictedEndowmentfundstoworkingcapitalorcapitalreserves,provided that any such allocation is consistent with endowment restrictions. During the year ended September 30,2023,therewerenodistributionsmadefromtheendowment.

5. ContractwithPalmBeachCounty

TheCouncilannuallyentersintoanadministrativeservicesandagencycontractwiththeCounty.The contractprovidesthattheCouncilwillperformandadministervariousprogramservicessuchasgrants administration, marketing administration, and marketing and advertising with funds provided by the TDC to promote cultural arts in the County. For the year ending September 30, 2023, Thefundingforthiscontractisprovidedby20.72%oftherevenuegeneratedfrom2nd,3rd,5th,and6th cent of the Palm Beach County 6.00% Tourist Development Tax (also referred to as the "Bed Tax"). ThecontractfortheyearendedSeptember30,2023wasforanamountnottoexceed$2,534,788(per modified budget). As of September 30, 2023, the Council had amounts receivable from Palm Beach Countytotalingapproximately$384,700relatingtoprogramservicereimbursements.

Inaddition,underthiscontracttheCouncilactsasanagentfortheCountybyreviewingapplicationsof cultural organizations and local artists and requesting funding on their behalf. These "Category B" monies(knowninternallyasCategoryBandCategoryC-II),whicharealsofundedby20.72%Tourist Development Tax, are requested by the Council from the County, and are to be paid directly to the grantee.ThesefundsarenotrecordedasrevenueorexpensesoftheCouncil.Duringtheyearended September 30, 2023, the Council, under the direction of the TDC, administered approximately $5,054,728of"CategoryB"grantmoniestoculturalorganizations.

The Council also entered into an agreement with the County to implement and administer a cultural development program, Category C-I, which provides grants to small and emerging non-profit cultural organizations. "Category C" monies (known internally as Category C-I), are funded by County’s ad valoremtaxesandtotaledapproximately$233,000fortheyearendedSeptember30,2023.Thefunds arerequestedfromtheCountybytheCouncilandarethendistributedtotheawardedgrantee.

FortheYearEndedSeptember30,2023

5. ContractwithPalmBeachCounty,continued

Additionally,aportionofthefunds,nottoexceed15%,maybeusedbytheCounciltoadministerthe program. As of September 30, 2023, the Council had grants receivable from Palm Beach County totaling approximately $49,300 and the Council had grants payable to the grantees of approximately $41,200relatingto"CategoryC”monies.

During the fiscal year 2023, in addition to the basic contract funding from Palm Beach County, the Council also received Marketing Stimulus Funding of approximately $1,957,700 designated to boost advertising post COVID-19 pandemic. Reimbursement of these stimulus expenses follows the same process as other County contract expenses. This amount may be recovered by the County through contract adjustments project to occur from 2024 to 2027. The Council had a receivable from Palm BeachCountytotaling$1,032,594relatingtostimulusandcontractexpensefunds.

Income Reconciling Expense Recognized Items* Recognized

*Reconcilingitemsincludeprioryearprepaidexpensesof$8,334.

6. PledgesReceivable

Pledgesreceivableconsistofunconditionalpromisestogivefromindividuals.Pledgesthatareexpectedto becollectedwithinoneyeararerecordedattheirnetrealizablevalue,whilethosethatareexpectedtobe collected in future years are recorded at the present value of their estimated future cash flows. The discount on those amounts is computed using an interest rate applicable to the years in which the promises are received (1.0% as of the date of the major gift). Pledges receivable as of September 30, 2023,consistedofthefollowing:

Management believes that pledges receivable are fully collective and, therefore, no allowance for uncollectiblereceivableswasconsiderednecessary.

7. Investments

AsofSeptember30,2023,majorcategoriesofinvestmentswerecomprisedofthefollowing:

FortheYearEndedSeptember30,2023

7. Investments,continued

Investment income consists of dividends and interest, and is reported net of fees in the statement of activities. Investment management fees are paid quarterly based upon a percentage of assets under managementandamountedtoapproximately$2,500fortheyearendedSeptember30,2023.

8. BeneficialInterestinTrust

The Council is the income beneficiary of a perpetual trust, whose assets are held by the Community Foundation for Palm Beach and Martin Counties, Inc. (the “Foundation”) as an endowed component fund(“Fund”).UnderthetermsoftheFund,theFoundation’sBoardofDirectorshasavariancepower tomodifyanyrestrictionorconditiononthedistributionoffundsforanyspecificcharitablepurposeorto specified organizations, if in their sole judgement (without the approval of any trustee, custodian, or agent), such restriction or conditions becomes, in effect, unnecessary, incapable of fulfillment or inconsistent with the charitable needs of the community or the area served by the Foundation. The FundissubjecttotheFoundation’sinvestmentandspendingpolicies.Therewasnodistributionduring theyearendedSeptember30,2023.

9. PropertyandEquipment

PropertyandequipmentasofSeptember30,2023,consistedofthefollowing:

$ 2,575,999

ThroughMaryM.Montgomery’sFoundation,TheBMCCharitableFoundation,Inc.,theCouncilobtaineda buildinglocatedat601LakeAvenue,LakeWorth,Florida,valuedat$1,350,000.TheCouncilcontinuesto useandoperatethebuildingasitscorporateheadquartersandinsupportofeducationandpromotionof culturalartsinPalmBeachCounty.

10. LineofCredit

The Council received a commitment from a financial institution for a line of credit in the amount of $250,000securedbyequipment,fixtures,andgeneralintangibles.Interestisduemonthlyatthegreater oftheBank’sPrimeRateor9.87%asofSeptember30,2023.AsofSeptember30,2023,thereisno outstandingbalance.

FortheYearEndedSeptember30,2023

11. NetAssetswithDonorRestrictions

NetassetswithdonorrestrictionsasofSeptember30,2023,consistedofthefollowing:

12. PensionPlan

TheCouncilhasestablisheda401(k)definedcontributionplanforthebenefitofsubstantiallyalleligible employees. Employeeswho work 1,000 hoursor more areeligible toreceive afully vested employer contribution after one year of employment and are eligible to contribute to the plan after 90 days of employment. The Council currently contributes 6% (a mandatory 3% safe harbor contribution and an additional 3% discretionary contribution) of theemployee’s base salary, regardless of the employee’s contribution. The employee may contribute to the Plan up to the total deferral allowed by law. The Council’scontributiontothisplanwasapproximately$64,700fortheyearendedSeptember30,2023.

13. Contributions,In-Kind

Contributedgoodsandservicesarereflectedascontributionsin-kindsupport,andexpensesorassets intheaccompanyingfinancialstatements.Attimes,businessescontributeequipment,advertising,and otherprofessionalservices.Theproductsandprofessionalservicesarerecordedattheirestimatedfair value. On behalf of the Council, the County directly paid approximately $172,800 of tax collector commission expenses, $107,600 of administrative expenses, and $8,800 of inspector general expensesfortheyearendedSeptember30,2023.

The Council recognized $172,728 of advertising, promotion, and consulting as in-kind general administrative expenses, which are reflected in the statement of activities as part of in-kind administrationsupport.Theallocation oftheuseof thein-kindbytypeisincludedinthestatement of functional expenses. Advertising and promotion, $146,838 are valued based on prices of advertising time and/or space. Consulting services, $25,890 are valued based on the price of the services provided.

14. BusinessandCreditConcentrations

TheCouncilreceivesgrantsfromtheCountyandtheTDCasreflectedinthestatementofactivities.Direct fundingbytheseagenciesrepresentapproximately80%oftheCouncil's2023totalrevenueandsupport, andrequiresthefulfillmentofcertainconditionsassetforthinthecontractdocuments.Failuretofulfillsuch obligationscouldresultinareductionoffuturefunding.Asignificantreductioninthelevelofthissupport couldhaveasubstantialeffectontheCouncil'sprogramsandactivities.Althoughthereisapossibilityof suchanoccurrence,management believesthiscontingencytoberemote,sincebyacceptingtheterms andconditionsofthecontracts,itwilloperateinaccordancewiththeagreements.

Atvarioustimesduringtheyear,theCouncilhasfundsondepositthatexceedthe$250,000insuredbythe Federal Deposit Insurance Corporation. The Council minimizes its risk by depositing cash in financial institutions with a high credit standing. The Council has not experienced any losses of such funds and managementbelievestheCouncilisnotexposedtosignificantriskoncash.AsofSeptember30,2023, theCouncilhadapproximately$526,318inexcessofinsuredlimits.

15. OperatingLeases

The Council leases office equipment (including service) under non-cancellable operating leases that expireatvariousdatesthroughJuly2026.

Operatingright-of-useassetsasofSeptember30,2023,consistedofthefollowing:

OperatingleaseobligationsasofSeptember30,2023,consistedofthefollowing:

UndiscountedfutureleasepaymentsunderoperatingleasesasofSeptember30,2023areapproximately:

FortheYearEndedSeptember30,2023

15. OperatingLeases,continued

Discountfortheofficeequipmenthasbeencalculatedusinganinterestrateof3.5%,whichapproximate the incremental borrowing rates of the Council for the acquisition of the related assets at the time the leasesweresigned.

OperatingleaseexpensefortheyearendedSeptember30,2023,isincludedwithintheequipmentrental categoryinthestatementoffunctionalexpensesandconsistedofthefollowing:

16. SubsequentEvents

The Council’s management has evaluated subsequent eventsthrough January16, 2024, the date on which the financial statements were available to be issued, and determined the following additional eventswererequiredtobepresentedinthesefinancialstatements.

InNovember2023,theCouncilreceivedagrantof$2,120,000fromafoundation,ofwhich$1,070,000 was received in January, 2024, and the remaining $1,050,000 will be paid in January 2025. The purposeofthegrantisforthegrantprogramentitled“PooledFundstoIncreaseAccesstotheArts”.

In October 2023, the Council was also awarded a grant for $400,000 from another foundation. The grant is to be paid in 2024 in two installments. The purpose of the grant is to support Palm Beach Countyartists,providecapacitybuildingtothesector,andfundotherCouncilinitiatives.

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Holyfield & Thomas, LLC

Certified Public Accountants & Advisors

125 Butler Street  West Palm Beach, FL 33407 (561)689-6000  Fax (561) 689-6001  www.holyfieldandthomas.com

INDEPENDENTAUDITOR’SREPORTONINTERNALCONTROLOVERFINANCIAL

TotheBoardofDirectorsof CulturalCouncilofPalmBeachCounty,Inc.

LakeWorth,Florida

Wehaveaudited,inaccordancewiththeauditingstandardsgenerallyacceptedintheUnitedStatesof Americaandthestandardsapplicabletofinancialauditscontainedin Government Auditing Standards issuedbytheComptrollerGeneraloftheUnitedStates,thefinancialstatementsofCulturalCouncilof Palm Beach County, Inc. (a not-for-profit corporation), which comprise the statement of financial position asof September 30, 2023, and therelated statements of activities, functional expenses, and cashflowsfortheyearthenended,andtherelatednotestothefinancialstatements,andhaveissued ourreportthereondatedJanuary16,2024.

ReportonInternalControlOverFinancialReporting

In planning and performing our audit of the financial statements, we considered Cultural Council of Palm Beach County, Inc.’s internal control over financial reporting (internal control) as a basis for designingauditproceduresthatareappropriateinthecircumstancesforthepurposeofexpressingour opinion on the financial statements, but not for the purpose of expressing an opinion on the effectivenessofCulturalCouncilofPalmBeachCounty,Inc.’sinternalcontrol.Accordingly,wedonot expressan opinion on the effectiveness of the Cultural Council of PalmBeach County, Inc.’s internal control.

A deficiency in internal control exists when the design or operation of a control does not allow managementoremployees,inthenormalcourseofperformingtheirassignedfunctions,toprevent,or detect and correct, misstatements on a timely basis. A material weakness is a deficiency, or a combinationofdeficiencies,ininternalcontrol,suchthatthereisareasonablepossibilitythatamaterial misstatementoftheentity’sfinancialstatementswillnotbeprevented,ordetectedandcorrectedona timelybasis.A significant deficiency isadeficiency,oracombinationofdeficiencies,ininternalcontrol thatislessseverethanamaterialweakness,yetimportantenoughtomeritattentionbythosecharged withgovernance.

Ourconsiderationofinternalcontrolwasforthelimitedpurposedescribedinthefirstparagraphofthis section and was not designed to identify all deficiencies in internal control that might be material weaknessesorsignificantdeficiencies.Giventheselimitations,duringourauditwedidnotidentifyany deficiencies in internal control that we consider to be material weaknesses. However, material weaknessesorsignificantdeficienciesmayexistthatwerenotidentified.

ReportonComplianceandOtherMatters

AspartofobtainingreasonableassuranceaboutwhetherCulturalCouncilofPalmBeachCounty,Inc.’s financial statements are free from material misstatement, we performed tests of its compliance with certain provisions of laws, regulations, contracts, and grant agreements, noncompliance with which couldhaveadirect andmaterialeffect onthefinancialstatements. However, providinganopinionon compliancewiththoseprovisionswasnotanobjectiveofouraudit,andaccordingly,wedonotexpress suchanopinion.Theresultsofourtestsdisclosednoinstancesofnoncomplianceorothermattersthat arerequiredtobereportedunder Government Auditing Standards

PurposeofthisReport

The purpose of this report is solely to describe the scope of our testing of internal control and compliance and the results of that testing, and not to provide an opinion on the effectiveness of the Cultural Council of Palm Beach County, Inc.’s internal control or on compliance. This report is an integral part of an auditperformed in accordance with Government Auditing Standards in considering the Cultural Council of Palm Beach County, Inc.’s internal control and compliance. Accordingly, this communicationisnotsuitableforanyotherpurpose.

Holyfield & Thomas, LLC

WestPalmBeach,Florida January16,2024

Palm Beach County Film & TV Commission

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& Thomas, LLC

Certified Public Accountants & Advisors

125 Butler Street  West Palm Beach, FL 33407 (561) 689-6000  Fax (561) 689-6001  www.holyfieldandthomas.com

To the Board of Directors and Management of Palm Beach County Film and Television Commission, Inc.

West Palm Beach, Florida

Ladies and Gentlemen:

In planning and performing our audit of the financial statements of Palm Beach County Film and Television Commission, Inc. (the “Organization”) as of and for the year ended September 30, 2023, in accordance with auditing standards generally accepted in the United States of America, we considered the Organization’s system of internal control over financial reporting (internal control) as a basis for designing audit procedures that are appropriate in the circumstances for the purpose of expressing our opinion on the financial statements, but not for the purpose of expressing an opinion on the effectiveness of the Organization’s internal control. Accordingly, we do not express an opinion on the effectiveness of the Organization’s internal control

DefinitionsRelatedtoInternalControlDeficiencies

A deficiency in internal control exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent, or detect and correct, misstatements on a timely basis. A material weakness is a deficiency, or a combination of deficiencies, in internal control, such that there is a reasonable possibility that a material misstatement of the Organization’s financial statements will not be prevented, or detected and corrected, on atimely basis.

OurResponsibilities

Our consideration of internal control was for the limited purpose described in the first paragraph and was not designed to identify all deficiencies in internal control that might be material weaknesses. Given these limitations, during our audit we did not identify any deficiencies in internal control that we consider to be material weaknesses. However, material weaknesses may exist that have not been identified.

This communication is intended solely for the information and use of management, those charged with governance and others within the Organization and is not intended to be and should not be used by anyone other than thesespecified parties.

Very truly yours,

Holyfield & Thomas, LLC

West Palm Beach, Florida March 13, 2024

Holyfield

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Holyfield & Thomas, LLC

Certified Public Accountants & Advisors

125 Butler Street  West Palm Beach, FL 33407 (561)689-6000  Fax (561) 689-6001  www.holyfieldandthomas.com

To the Audit Committeeof Palm Beach County Film and Television Commission, Inc.

West Palm Beach, Florida

We have audited the financial statements of Palm Beach County Film and Television Commission, Inc. (the “Organization”) for the year ended September 30, 2023, and expect to issue our report in March 2024. Professional standards require that we provide you with information about our responsibilities under generally accepted auditing standards, as well as certain information related to the planned scope and timing of our audit. We have communicated such information in our letter to you dated October 10, 2023. Professional standards also require that we communicate to you the following information related to ouraudit.

SignificantAuditMatters

QualitativeAspectsofAccountingPractices

Management is responsible for the selection and use of appropriate accounting policies. The significant accounting policies used by the Organization are described in Note 1 to the financial statements. As described in Note 1, the Organization adopted the new FASB Accounting Standards Update (ASU) 2016-02, Leases(Topic842). This new standard replaced existing leasing rules with a comprehensive lease measurement and recognition standard and expanded disclosure requirements. Under the new guidance, leases with terms of more than 12 months are required to be recognized in the statement of financial position as liabilities, with a corresponding “right-of-use” asset. The Organization also adopted the new FASB Accounting Standards Update (ASU) 2020-07, Not-for-Profit Entities (Topic 958): Presentation and Disclosures by Not-for-Profit Entities for Contributed Nonfinancial Assets. The purpose of the standard is to clarify the presentation and disclosure of contributed nonfinancial assets with an intention to provide the reader of the financial statements a clear understanding of what type of nonfinancial assets were received and how they are used and recognized by the not-for-profit. The application of the newstandards had no significant impact on the Organization’s financial statements.

We noted no transactions entered into by the Organization during the year for which there is a lack of authoritative guidance or consensus. All significant transactions have been recognized in the financial statements inthe proper period.

Estimates

Accounting estimates are an integral part of the financial statements prepared by management and are based on management’s knowledge and experience about past and current events and assumptions about future events. Certain accounting estimates are particularly sensitive because of their significance to the financial statements and because of the possibility that future events affecting them may differ significantly from those expected. The significant estimate for the current year financial statements is accrued vacation.

We evaluated the key factors and assumptions used to develop the estimated amounts in determining that they are reasonablein relation tothe financial statements taken as a whole.

Palm Beach County Film and Television Commission, Inc.

February 22, 2024

Page 2 of 3

Certain financial statement disclosures are particularly sensitive because of their significance to financial statement users. The most sensitive disclosure affecting the financial statements is related to the disclosure of Liquidity and Availability of Resources the guidance of FASB ASC 958, Presentation of Financial Statements as presented in Note 2 to the financial statements. The financial statement disclosures are neutral, consistent, and clear.

Difficulties Encountered in Performing the Audit

We encountered no significant difficulties in dealing with management in performing and completing our audit.

Corrected and Uncorrected Adjustments

Professional standards require us to accumulate all misstatements identified during the audit, other than those that are trivial, and communicate them to the appropriate level of management. Journal entry recorded by management is listed on page 4. There were no uncorrected misstatements.

Disagreements with Management

For purposes of this letter, a disagreement with management is a disagreement on a financial accounting, reporting, or auditing matter, whether or not resolved to our satisfaction, that could be significant to the financial statements or the auditor’s report. We are pleased to report that no such disagreements arose during the course of our audit.

Management Representations

We will request certain representations from management that are included in the management representation letter to be dated upon issuance of the report.

Management Consultations with Other Independent Accountants

In some cases, management may decide to consult with other accountants about auditing and accounting matters, similar to obtaining a “second opinion” on certain situations. If a consultation involves application of an accounting principle to the Organization’s financial statements or a determination of the type of auditor’s opinion that may be expressed on those statements, our professional standards require the consulting accountant to check with us to determine that the consultant has all the relevant facts. To our knowledge, there were no such consultations with other accountants

Other Audit Findings or Issues

We generally discuss a variety of matters, including the application of accounting principles and auditing standards, with management each year prior to retention as the Organization’s auditors. However, these discussions occurred in the normal course of our professional relationship and our responses were not a condition to our retention.

Palm Beach County Film and Television Commission, Inc.

February 22, 2024

Page 3 of 3

Other Information in Documents Containing Audited Financial Statements

We are not aware of any documents that contain the audited financial statements. If such documents were to be published, we would have a responsibility to determine that such financial information was not materially inconsistent with the audited statements of the Organization.

Other Matters

Supplementary Information

With respect to the supplementary information accompanying the financial statements, we made certain inquiries of management and evaluated the form, content, and methods of preparing the information to determine that the information complies with U.S. generally accepted accounting principles, the method of preparing it has not changed from the prior period, and the information is appropriate and complete in relation to our audit of the financial statements. We compared and reconciled the supplementary information to the underlying accounting records used to prepare the financial statements or to the financial statements themselves.

Closing

We are pleased to respond to any questions you have about the audit or the contents of this letter. We appreciate the opportunity to be of service to you with respect to your audit and accounting needs.

This information is intended solely for the use of Audit Committee and management of Palm Beach County Film and Television Commission, Inc. and is not intended to be, and should not be, used by anyone other than these specified parties.

Very truly yours,

West Palm Beach, Florida

Holyfield & Thomas, LLC

REPORTONAUDITOF FINANCIALSTATEMENTS

ForTheYearEndedSeptember30,2023 (with comparable totals for 2022)

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c

Holyfield & Thomas, LLC

Certified Public Accountants & Advisors

125 Butler Street  West Palm Beach, FL 33407 (561)689-6000  Fax (561) 689-6001  www.holyfieldandthomas.com

TotheBoardofDirectorsof

Palm BeachCounty Film andTelevision Commission,Inc.

WestPalmBeach,Florida

Opinion

We have audited the accompanying financial statements of Palm Beach County Film and Television Commission, Inc. (a nonprofit organization), which comprise the statement of financial position as of September 30, 2023, and the related statements of activities, functional expenses, and cash flows for theyearthenended,andtherelatednotestothefinancialstatements.

In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of Palm Beach County Film and Television Commission, Inc. as of September 30, 2023, and the changes in net assets and its cash flows for the year then ended in accordance with accounting principlesgenerallyacceptedinthe United States of America

BasisforOpinion

We conducted our audit in accordance with auditing standards generally accepted in the United States of America. Our responsibilities under those standards are further described in the Auditor’s Responsibilities for the Audit of the Financial Statements section of our report. We are required to be independent of Palm Beach County Film and Television Commission, Inc. and to meet our other ethical responsibilities in accordance with the relevant ethical requirements relating to our audit. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

ResponsibilitiesofManagementfortheFinancialStatements

Management is responsible for the preparation and fair presentation of the financial statements in accordance with accounting principles generally accepted in the United States of America, and for the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of financial statements that are free from material misstatement, whether due to fraud or error.

In preparing the financial statements, management is required to evaluate whether there are conditions or events, considered in the aggregate, that raisesubstantial doubt about Palm Beach County Film and Television Commission, Inc.'s ability to continue as a going concern within one year after the date that thefinancialstatementsareavailabletobeissued.

Auditor’sResponsibilitiesfortheAuditoftheFinancialstatements

Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor’s report that includes our opinion. Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not a guarantee that an audit conducted in accordance with generally accepted auditing standards will always detect a material misstatement when it exists. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Misstatements are considered material if there is a substantial likelihood that, individually or in the aggregate, they would influence the judgment made by a reasonable user based on the financial statements.

In performinganaudit inaccordancewith generallyaccepted auditingstandards,we:

 Exercise professionaljudgmentandmaintain professionalskepticismthroughouttheaudit.

 Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and design and perform audit procedures responsive to those risks. Such procedures include examining, on a test basis, evidence regarding the amounts and disclosures inthefinancialstatements.

 Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of Palm Beach County Film and Television Commission, Inc.'s internalcontrol.Accordingly, nosuchopinionisexpressed.

 Evaluate the appropriateness of accounting policies used and the reasonableness of significant accounting estimates made by management, as well as evaluate the overall presentation of the financialstatements.

 Conclude whether, in ourjudgment, thereareconditions or events, considered inthe aggregate, that raise substantial doubt about Palm Beach County Film and Television Commission, Inc.'s ability tocontinueasagoing concernfor areasonableperiod oftime.

We are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit, significant audit findings, and certain internal control related mattersthatwe identifiedduringtheaudit.

ReportonSummarizedComparativeInformation

We have previously audited the Palm Beach County Film and Television Commission, Inc.’s 2022 financial statements, and we expressed an unmodified audit opinion of those audited financial statements in our report dated March 2, 2023. In our opinion, the summarized comparative information presented herein as of and for the year ended September 30, 2022 is consistent, in all material respects, with the auditedfinancialstatementsfromwhichithasbeenderived.

ReportonSupplementaryInformation

Our audit was conducted for the purpose of forming an opinion on the financial statements as a whole. The schedule of functional expenses – contract and non-contract on page 16 is presented for purposes of additional analysis and is not a required part of the financial statements. Such information is the responsibility of management and was derived from and relates directly to the underlying accounting and other records used to prepare the financial statements. The information has been subjected to the auditing procedures applied in the audit of the financial statements and certain additional procedures, including comparing and reconciling such information directly to the underlying accounting and other records used to prepare the financial statements or to the financial statements themselves, and other additional procedures in accordance with auditing standards generally accepted in the United States of America. In our opinion, the information is fairly stated in all material respects in relation to the financial statementsasa whole.

Thomas, LLC

WestPalmBeach,Florida

March13,2024

Holyfield &

As of September 30, 2023 (with comparable totals for 2022)

LIABILITIES AND NET ASSETS

See accompanying notes to financial statements.

For the Year Ended September 30, 2023 (with comparable

See accompanying notes to financial statements.

For the Year Ended September 30, 2023 (with comparable totals for 2022)

Adjustments to reconcile change in net assets to net cash used in operating activities: (Increase) decrease in

For the Year Ended September 30, 2023

For the Year Ended September 30, 2023

1. Organization and Summary of Significant Accounting Policies

Organization and Nature of Activities

Palm Beach County Film and Television Commission, Inc. (the "FTC") is a not-for-profit organization incorporated in 1989 in the State of Florida. The FTC’s mission is to generate a positive impact on business tourism and the economy in Palm Beach County (the “County”)through the growth of the film, television, digital media and still photography industry, by attracting on-location production and educating the local workforce and providing services to both the visiting and the indigenous production community.

In 2016, FTC added a new business strategy that actively pursues episodic TV shows/content that positively showcases the Palm Beach County tourism brand. The Tourism Branded Content Sponsorship Program stimulates the creation of carefully crafted, high quality programming with established distribution to brandThePalmBeaches within nichemarkets.Through theallocatedbudget line items Development and Sponsorships and Stimulus, the FTC can strategically leverage production coststogeneratemoretargetedproduction.

The FTC produces the Palm Beaches Students Showcase of Films, the largest statewide film competition and award show for Florida student filmmakers, graphic designers and digital media artists. The FTC provides scholarships and grants to students and schools through a contract with the Palm Beach County Department of Housing and Economic Sustainability (now known as the Department of Housing and Economic Development) (the “DHED”). Awards are determined through an annual competition, which isconsideredthecornerstoneoftheeducationoutreachinitiativeof theFTC.

Basis of Presentation and Method of Accounting

The accompanying financial statements of the FTC have been prepared on the accrual basis of accounting, whereby revenues and support are recognized when earned, and expenses when the corresponding liability is incurred. This basis of accounting conforms to accounting principles generally acceptedintheUnitedStatesofAmerica.

Financial Statements Presentation

The accompanying financial statements have been prepared on the accrual basis of accounting in conformity with the disclosure and display requirements of the Financial Accounting Standards Board (FASB) as set forth under FASB Accounting Standards Codification (FASB ASC) 958-205 Not-for-Profit Entities, Presentation of Financial Statements. Accordingly,thenetassetsofFTCarereportedasfollows:

Net assets without donor restrictions – this classification includes those net assets whose use is not restricted by donors, even though their use may be limited in other respects, such as by contract or by board designation. Changes in net assets arising from exchange transactions (except income and gains on assets that are restricted by donors or by law) are included in net assets without donor restrictions. The FTC releases any purpose restrictions to this classification when funds are used for their intended purpose and when assets are placed in servicefortheusestipulatedbythedonor.

For the Year Ended September 30, 2023

1. Organization and Summary of Significant Accounting Policies, continued

Net assets with donor restrictions – this classification includes those net assets whose use by the FTC has been limited by donors to either a later period of time, or after a specified date, or for a specified purpose. This classification also includes net assets that must be maintained by the FTC in perpetuity. Net assets with donor restrictions in perpetuity increase when the FTC receives contributions for which donor-imposed restrictions limiting the FTC’s use of an asset or its economic benefits neither expire with the passage of time nor can be removed by the FTC meeting certain requirements. As of September 30, 2023, FTC had no net assets with donor restrictions.

Use of Estimates

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect certain reportedamountsanddisclosures. Accordingly,actualresultscoulddifferfromthoseestimates.

Accounting and Use of Non-Tourist Tax Funds

The FTC is required to maintain policies and procedures that make provision for one or more separate accounts for receipt of non-tourist tax revenues received by the FTC, such as membership dues, participationfees, andcontributions, andforthe payment from suchaccountsofexpenses of the FTCthat arenotreimbursedpursuanttothePalmBeachCountyContract(asfurtherdescribedinNote4).TheFTC shall incur and pay only such expenses as are lawful, ordinary, and necessary administrative and operating expenses incurred in connection with the marketing and promotion of Palm Beach County tourism.

Cash and Cash Equivalents

Cash and cash equivalents consist primarily of checking accounts at a federally chartered bank. For purposes of the statement of cash flows, all highly liquid investments with a maturity of three months or lesswhenpurchasedarealsoconsideredtobecashequivalents.

Reimbursement due from Palm Beach County

FTC records contract reimbursements due from Palm Beach County as allowable expenses are incurred, approved,andbilled. Allamountsaredeemedfullycollectibleandnoallowanceisconsiderednecessary.

Prepaid Expenses

As a part of its normal operations, the FTC pays certain expenses including insurance, postage, and professionalmemberships priorto the actual use of those assets. Such amountsare recorded as prepaid expenses in the statement of financial position, and are recognized as expense as the benefit is realized. AsofSeptember30,2023,theFTChasaprepaidexpensesbalanceof$8,480.

For the Year Ended September 30, 2023

1. Organization and Summary of Significant Accounting Policies, continued

Accrued Expenses

As of September 30, 2023, the FTC's accrued expenses include costs of accrued employee benefits of $18,328.

County Contract Advance

In connection with the FTC’s administrative services and agency contract (further described in Note 4), Palm Beach County advanced FTC $500,000 for use in facilitating vendor payments and other working capitalneeds, pendingreimbursementof requestedexpenses.

Revenues and Support

Incomegenerated bytheFTC can be classified aseither Revenuesor Support. Revenuesare generated through exchange transactions, while Support is generated through non-exchange transactions. The largest portion of the FTC’s income comes from grants and contracts, both of which are non-exchange transactionsandareconsideredSupport.

Grants and Contracts

Contract income from Palm Beach County and grant income from the DHED are recognized on a cost reimbursement basis. Revenue from contracts and grants are recognized when expenditures are made andrecognizedforthe purposesspecified.

Contributions

The FTC follows FASB ASC 958-065, Accounting for Contributions Received and Contributions Made In accordance with this standard, contributions received are recorded as with or without donor restrictions depending on the existence and/or nature of any such restrictions. Contributions that are initially restricted as to time or use are required to be reported as contributions with donor restrictions and are later reclassified to net assets without donor restrictions upon expiration of the time or use restriction. If the restriction placed upon a contribution is met within the same accounting period as the receipt of the contribution, FASB ASC 958-065 permitsthe contribution and the expense to be reported as net assets without donor restrictions. The FTC's donations from various sponsors are recorded as receivedandaregenerallywithoutdonorrestrictions.

Membership

Membershipincome consistsof duesassessed annuallytomembersof theFTC’sBoardofDirectors,and is recognized upon receipt. These assessments are used to fund expenses that are not reimbursable undercontractorgrantagreements.

For the Year Ended September 30, 2023

1. Organization and Summary of Significant Accounting Policies, continued

Advertising

The FTC expenses advertising costs as incurred. Total expenditures for advertising costs for the year endedSeptember30,2023were$20,512.

Donated Services

The FTC follows FASB ASC Subtopic 958-605, Not-for-Profit Entities, Revenue Recognition for donated services from volunteers, board members, and other third parties who assist in fund-raising and education programs and from professionals who donate services. The value of the contributed services should be recognized when they (a) create or enhance a nonfinancial asset or (b) require specialized skills, are provided by entities or persons possessing those skills, and would need to be purchased if they were not donated. Generally, the value of volunteer services to the FTC does not satisfythesecriteriaandisthereforenot recognizedinthefinancialstatements.

Functional Allocation of Expenses

Costs of providingtheFTC’s variousprograms and other activities have been summarized ona functional basis in the statement of activities. Costs are allocated among film and television promotion, education, andmanagementandgeneralbasedonapercentageoftherelatedactivities.

Scholarships

TheFTCscholarshipsarepaidtoidentifiedrecipientsofThePalmBeachesStudentShowcaseofFilms.

Tax Status

The FTC is exempt from federal and state income taxes pursuant to Internal Revenue Code Section 501(c)(6) and Chapter 220.13 of the Florida Statues. Therefore, the financial statements do not reflect a provisionforincometaxes.

The FTC follows the guidance of FASB ASC 740-10, Accounting for Uncertainty in Income Taxes, which seeks to reduce the diversity in practice associated with certain aspects of measurement and recognition in accounting for income taxes. This standard prescribes a recognition threshold and measurement attribute for financial statement recognition and measurement of a tax position that an entity takes or expects to take in a tax return. An entity may only recognize or continue to recognize tax positions that meet a “more likely than not” threshold. The FTC assesses its income tax positions based on management’s evaluation of the facts, circumstances, and information available at the reporting date. Management does not believe that the FTC has any significant uncertain tax positions that would be material to the financial statements. Furthermore, there is no federal or state open-year tax return under audit.

For the Year Ended September 30, 2023

1. Organization and Summary of Significant Accounting Policies,

continued

Fair Value Measurement

The FTCfollows FASB ASC820, Fair Value Measurement. Thisstandarddefinesfairvalue,establishesa framework for measuring fair value, establishes a fair value hierarchy based on the quality of inputs used to measure fair value, and requires expanded disclosures about fair value measurements of financial instruments.

The standard also establishes a hierarchy for inputs used in measuring fair value that maximizes the use of observable inputs when available. Observable inputs are those that market participants would use in pricingtheassetorliabilitybasedonthebestinformationavailableinthecircumstances.

The fair value hierarchy gives the highest priority to quoted prices in active markets for identical assets or liabilities (Level1) and lowest prioritytounobservable inputs (Level3). If inputs used tomeasure the financial instruments fall within different levels of the hierarchy, the categorization is based on the lowest levelofinputthatissignificanttothefairvaluemeasurement oftheinstrument.

Thethreelevelsofthefairvaluehierarchyaredescribedbelow:

Level1- Inputs that utilize quoted prices (unadjusted) in active markets for identical assets or liabilitiesthattheFTChastheabilitytoaccess.

Level2- Inputsthat include quoted prices for similar assets and liabilities in activemarkets and inputs that are observable for the asset or liability, either directly or indirectly, for substantially the full term of the financial instrument. Fair values for these instruments are estimated using pricing models or quoted prices of assets and liabilities of similar characteristics.

Level3- Inputs that are unobservable for the assets or liabilities, which are typically based on an entity’sown assumptions, asthereislittle,if any,relatedmarket activity.

The asset’sor liability’sfair valuemeasurement level within the fair value hierarchy isbasedonthe lowest level of any input that is significant to the fair value measurement. Valuation techniques used need to maximizetheuseofobservableinputsandminimizetheuseofunobservableinputs.

Recent Accounting Policies

In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842). ASU 2016-02 replaces existing leasing rules with a comprehensive lease measurement and recognition standard and expanded disclosure requirements. ASU 2016-02 will require lessees to recognize most leases on their statement of financial position as “right of use assets” with corresponding liabilities. FTC did not have any leasefortheyearendingSeptember 30, 2023.

For the Year Ended September 30, 2023

1. Organization and Summary of Significant Accounting Policies,

continued

Comparable Financial Information

The financial statements include certain prior-year summarized comparative information in total but not by net asset class. Such information does not include sufficient detail to constitute a presentation in conformity with accounting principles generally accepted in the United States of America. Accordingly, such information should be read in conjunction with the FTC’s financial statements for the year ended September 30, 2022, from which the summarized information was derived. Certain 2022 amounts may have been reclassified to conform to 2023 classifications with no effect on the previously reported changein netassets.

2. Liquidity and Availability of Resources

Financial assets available for general expenditure within one year, that is, without donor restrictions or otherrestrictionslimitingtheirusecomprisethefollowing:

The FTC receives significant income from its Palm Beach County Contract (see Note 4), which covers the majority of its operating expenditures on a direct reimbursement basis. The Organization also receivesgrantsandother incomethat mayormay notberestrictedforusein a particularprogram.

3. Fair Value Measurement

The following methods and assumptions were used by the FTC in estimating the fair value of financial instrumentsthatwerenotdisclosedunderFASBASCTopic820.

 Cash equivalents –Thecarryingamountreported approximatesfair value.

 Reimbursement due from Palm Beach County – The carrying amount approximates fair value duetotheshortterm of theamounts due.

 Accounts payable, accrued expenses, and other liabilities – The carrying amount reported approximatesfairvalueduetotheshort-termduration of theinstruments.

The FTC has no assets or liabilities measured at fair value on a recurring basis under FASB ASC Topic 820,for2023. TherehavebeennochangesinthemethodologiesusedasofSeptember30,2023.

For the Year Ended September 30, 2023

4. Contract with Palm Beach County

The FTC annually enters into an administrative services and administrative agency contract with the County. The contract provides that the FTC will perform, administer and, in certain cases, provide financial sponsorship for various functions, such as attracting and permitting film and television production, advertising, public relations, production marketing and trade shows, incorporating diversity in programing and operations, familiarization tours, and other projects and services to promote the growth of the film, television, digital media and still photography industry in the County. For the year ending September 30, 2023, the funding for this contract is provided by revenue generated from the 2nd, 3rd, 5th, and 6th cents of the Palm Beach County 6.00% Tourist Development Tax (also referred to as the "Bed Tax"). The contract, as amended, for the year ended September 30, 2023 was for an amountnot toexceed$1,212,310.

In connection with the County contract, the FTC submits requests for reimbursement of allowable payments and expenditures and records the corresponding revenue as the request is approved and paid. Subsequent adjustments made in accordance with US GAAP to certain payments and expenditures may often create timing differences between the contract utilization according to the County and amounts reported in these financial statements. The fiscal year-end amounts and related adjustmentsaresummarized asfollows:

Income Reconciling Expense

Palm BeachCountyContract $ 948,285 $ 4,357 $ 952,642

*Reconcilingitems include accrualbasistransactions.

In addition to the $948,285 in funding from the contract with Palm Beach County, the FTC received Stimulus funding of $644,990 to be used for marketing purposes and special projects. The reimbursement relating to these expenses follows the same process as other County contract expenses.

5. Grant Agreement

The FTC originally entered into a grant agreement with the DHED on March 11, 2003. The grant agreement has been renewed and extended through September 2023. The grant agreement provides the financial resources to support educational programs in the film and television industry in Palm Beach County and implement the Palm Beach County Film and TV Tech Prep Program in order to foster a stronger and more balanced economy in Palm Beach County. For the year ended September 30, 2023,theFTCreceivedatotalof$75,000associatedwiththisgrant.

6. Non-Contract Expenses

The FTC incurs certain expenses that are not reimbursed under the PBC contract or the DHED grant agreement. As of September 30, 2023 the total amount of non-contract and non-DHED expenses, less thein-kind, was$12,728.

For the Year Ended September 30, 2023

7. Pension Plan

FTC approved the implementation of a 401(k), Profit - Sharing Plan (“Plan”). Full time employees who have completed one year of service are eligible to participate in the Plan. During 2023, the employer contributions are 11.96% of an eligible employee’s compensation, and employees are fully vested after three years of service. During the year ending September 30, 2023, the FTC contributed $36,842 for this 401(k) program.

8. Contributions, In-Kind

Contributed services are reflected as in-kind support, and expenses or assets in the accompanying financial statements. On behalf of the FTC, the County directly paid $42,588 of administrative expenses, $1,914 of inspector general expenses, and $35,941 of tax collector commission expenses for the year ended September 30, 2023. The County also provided office space valued at $36,238 to FTC in exchange for no payment. Amounts recorded for these County-provided expenses and office space are based upon reports from the County, and the estimated fair value rent for similar space in this market. In addition, FTC Board members contributed $1,300 in promotional and other miscellaneous services in exchange for membership dues, and various organizations contributed services in connection with the Student Showcase of Films totaling $96,990. Such in-kind support is recorded at amounts the FTC estimated it would have paid for these services.

9. Business and Credit Concentrations

The FTC receives contract funding from the County as reflected in the statement of activities. Direct funding by the County represents approximately 84% of the FTC's 2023 total revenue and support, and requires the fulfillment of certain conditions as set forth in the contract documents. Failure to fulfill such obligations could result in a reduction of future funding. A significant reduction in the level of this support could have a substantial effect on the FTC's programs and activities. Although there is a possibility of such an occurrence, management believes this contingency to be remote, since by accepting the terms and conditions of the contracts, it will operate in accordance with the agreements. In addition, management continually monitors the funding resources allocated by the County and adjusts the budget as necessary for ongoing sponsorship commitments through the FTC’s Sponsorship Committee.

The FTC uses an FDIC insured financial institution to maintain its cash, which at times may exceed FDIC insured limit. The FTC has not experienced any losses in such accounts and believes it is not exposed to any significant credit risk on such cash. As of September 30, 2023, the FTC had approximately $81,000 in excess of insured limits.

10. Subsequent Events

The FTC has evaluated subsequent events through March 13, 2024, the date on which the financial statements were available to be issued, and determined that there were no further disclosures required to be presented in these financial statements.

SUPPLEMENTARYINFORMATION

For the Year Ended September 30, 2023

STATEMENTOFWORK

DiscoveryThePalmBeaches|DataInfrastructureConfiguration

ThisStatementOfWorkismadeasofthedateofthelastsignaturebelowbyandbetweenTransparentMedia Partners,LLC,aDelawarelimitedliabilitycompanylocatedat515N.StateSt.,Suite300,Chicago,Illinois (“Transparent”)andDiscoverThePalmBeaches(DTPB)locatedat2195SouthernBlvd#400,WestPalmBeach,FL 33406.ThisAgreementiseffectiveasofMay9,2024orthedateofsignaturebybothparties(“AgreementEffective Date”)andwillendJanuary10,2025oruponcompletionofthefinalworkstream.ThisAgreementissubject,inall respects,tothetermsandconditionssetforthherein.

SCOPEOFSERVICES

PROJECTNAME:DataInfrastructureConfiguration

REQUESTINGMANAGER:BryanGlynn,AssociateVicePresident,Digital&MarTech

PROJECTDESCRIPTION:Thisscopeofworkencompassestheconfigurationofacomprehensivenewdata infrastructureforDTPB,comprisingfourkeyworkstreams.Firstly,we'reensuringthe seamlesssetupofthedatafoundationwithinSnowflake.Secondly,we'reoverseeing theconfiguration,consolidation,andmigrationofallhistoricaldataintoSnowflake, ensuringasmoothtransition.Additionally,we'refocusingonthefuturestatedesign andimplementationplanforthesecuredatacollaborationcapabilityofthe DestinationDemandTool.Finally,we'reensuringtheproperconnectionoftheCDM vendortoactivateonpaidmediaandemailchannelseffectively.Ourgoalisto establisharobustandefficientdataecosystemtoempowerDTPB'soperationsand insights.

FOCUSAREAS

TransparentPartnerswillfocustheireffortsonthefollowingareas:

● DataFoundation:SuccessfulconfigurationofthedatainfrastructurewithinSnowflake

● Strategy&Measurement:Configuration,consolidationandmigrationofallhistoricaldatainto Snowflake,alongwiththereplicationofthemarketingreportingdashboards

● DataCollaborationDesign:Developmentofthefuturestatedesignandimplementationplanforthe securedatacollaborationcapabilityoftheDestinationDemandTool

● Activation&Engagement:EnsureproperconnectionofCDMvendorinordertosuccessfullyactivateon paidmediaandemailchannels

REQUIREDRESOURCES:

DTPBshallprovideTransparentaccesstoallinformationinDTPBʼspossessionandcontrolthatisnecessaryand appropriateforTransparentʼsperformanceoftheirobligationshereunder.DTPBshallmakeitsmanagementand employeesreasonablyavailabletoTransparentpersonnelasmaybereasonablyrequiredbyTransparentinthe performanceofitsobligationshereunder.

1) DataFoundation

Configuration,activation,anddevelopmentofdata managementfabricandcustomerdatamanagement infrastructure:

● Consultonvendorsowarepartnerships& agreements

○ Recommendedthirdpartyvendorsinclude: Snowflake,AmazonAWS,Fivetran,Accurity, LightUp,SimonData,MessageGears, LiveRamp

● Configurethedatamanagementfabricenvironment inSnowflake,AmazonAWS,andFivetran(if required)

● Configurecustomerdatamanagementenvironment inMessageGears,SimonData,and/orSnowflake Builddatapipelinesfor:

○ ExistingCRMConsumerData

○ Identitygraph/resolutiontocreateunified profilesusingselectedcustomerdata managementsolution

○ SnowflakeMarketplace(2enrichment sources)*ThisdoesnotincludeIdentity Resolution

○ Webpagesign-upforms-newenrollees into0PDataSharing

● ConfigureunderlyingAWSCloudHostingservicesto supportSnowflakeanddatamanagementfabric

● ActivateandconfigureDataGovernancesolutionto supportdatainventory,qualityandanomaly detection

● IngesthistoricalconsumerdatafromSimpleview CRMintocustomerdatamanagementfabric

● Validatethesystemanddataflow

● DevelopSystemConfigurationDocumentation(doc)

Deliverables

● Vendorsowareagreement recommendations(includesmodules, pricingvolumes,add-onstobuyor negotiate)(doc)

● Successfulconfigurationofinitialdata managementfabric(Snowflake)and customerdatamanagement functionality(CDM)toincludethe following:

○ ConsumerProfiles(CRMBulk Upload)

○ EnrichedConsumerProfiles

○ InitialPaid&EmailTargeting AudienceSegments(1foreach)

○ InitialConsumerAnalytics Dashboards2(E.g.Listof consumersbypersona,Listof consumersbyregion)

● Successfulconfigurationoftherequisite infrastructuretosupportdata managementfabric

● InitialDataCatalogforalldatatables andanomalydetectionrules(upto6)

● Successfulmigrationofhistorical consumerdataintodatamanagement fabric(Snowflake)

● SystemTestPlan&Results(xls)

● SystemConfigurationDocumentation (doc) Totalhours

2) Strategy&Measurement Deliverables

Configuration,consolidationandmigrationoftheagreed uponhistoricaldata(upto35sources):

● Successfulconfigurationofinitialdata managementfabricenvironmentto

● Configurethedatamanagement&sharingfabric environmenttoaccommodatethedatathatis requiredintheexistingPowerBIandTapClicks reports/products

● Buildthedatapipelinestoaccommodatethedata ingestionfortheagreeduponhistoricaldata(upto 35sources),including2newBIsourcesfrom SnowflakeMarketplace

● Ingesttheagreeduponhistoricaldataintodata managementfabric(upto35sources)

● Providehands-onkeysservicesinreplicatingthe9 marketingdashboards,including67widgets

● Validatethesystemanddataflow

● DevelopSystemConfigurationDocumentation(doc)

handletheagreeduponhistoricaldata (upto35sources)

● Successfulconfigurationofthedata managementfabricenvironmentto handlethedatapipelinesfortheagreed uponhistoricaldatasources(upto35 sources),includingthe2newBIsources fromSnowflakeMarketplace

● Successfulmigrationoftheagreed uponhistoricaldataintodata managementfabric(upto35sources)

● Successfullyreplicatingandactivating the9marketingdashboards,including 67widgets

● SystemTestPlan&Results(xls)

● UpdatedSystemConfiguration Documentation(doc)

3) DataCollaborationDesign Deliverables

Capturethedatacollaborationrequirements,createthe futurestatedesignandcraaphasedimplementation roadmapfortheDestinationDemandTool:

● Conductpreparationthrough:

○ Discoveryinterviews

○ Distillationofexistingdocumentation

● Facilitationofaworkshop(upto1virtualorin-person)

● Createafuturestatedesignforthesecuredata collaborationcapabilitiesincludingadata collaborationvisionstatement

● Identifythetechnicalandnon-technicalrequirements

● Designaphasedimplementationapproachfor execution(Inclusiveofengineeringandsowarecost estimations)

● Validationofkeytakeawaysfrom workshopwithstakeholders

● Futurestatedesignofthesecuredata collaborationcapabilitiesofthe DestinationDemandTool,includinga datacollaborationvisionstatement (lucid/ppt)

● Technicalandnon-technical requirements(xls)

● PhasedRoadmapforExecution *Inclusiveofcosts(Inclusiveof engineeringandsowarecost estimations)(ppt)

Totalhours 424

4)Activation&Engagement

Ensuretheproperconnectionsandaudiencecreationfor successfulactivationandengagementofConsumerDataon paidandemailchannels:

● CreatenewSnowflaketablestosupportpaidmedia andESPactivations,ifrequired

● ConnectCDMvendortopaidchannels

○ Basis

○ GoogleDV360

○ Meta(Facebook/Instagram)

○ LinkedIn

○ LiveRamp(ifrequired)

● ConsultonthemigrationfromActOnESPtoCDM providedESPforremainingdatasetssuchasGroup andTravelTradedata

● DevelopDTPBspecificconfigurationtraining materialsanddocumentationaround:

○ Audiencesegmentation

○ ConnectingCDMvendortopaidmedia channels

○ ActivatingemailsonnewESP

● Facilitationof(upto2)trainingsessions(PaidMedia &ContentTeams)

Totalhours

5)ProjectManagement

Technicalprojectmanagementsupport,actingasan extensionoftheDTPBʼsteam:

● Integratedplanning&execution

● Riskmanagement&contingencyplanning

Totalhours

● SuccessfulcreationofnewSnowflake tablestosupportpaidmediaandESP activations,ifrequired

● SuccessfulconnectionofCDMvendorto paidmediachannels:

○ Basis

○ GoogleDV360

○ Meta(Facebook/Instagram)

○ LinkedIn

○ LiveRamp(ifrequired)

● UpdatedSystemConfiguration Documentation(doc)

● Configurationtrainingdocumentation:

○ Audiencesegmentation(doc)

○ ConnectingCDMvendortopaid mediachannels(doc)

○ ActivatingemailsonnewESP (doc)

● Facilitationof(upto2)trainingsessions orworkshopswithrelevantteams(Paid Media&ContentTeams)

● ProjectPlan(Timeline)

● WeeklyStatusMeetings

● WeeklyStatusReports

ProjectManagementFees Includedinindividualprojectworkstreams

ScopeAssumptions:

● DTPBhasalignedtowaysofworkingandagreedtotimelycollaborationandcommitmentacrossBI, CRM,Analytics,anddatasourceownerfunctions.

● DTPBreservestherighttooptoutofanybindingcontractforanyreasonattheendofanyproject workstreamorpriortothestartofaconcurrentworkstream,asdefinedinTable1:ProjectWorkstreams ThedecisiontooptoutshallbecommunicatedinwritingtoTransparentPartnersbeforetheendofthe currentprojectworkstreamorpriortothestartofaconcurrentworkstream,asdefinedinTable1: ProjectWorkstreams.Intheeventofanopt-out,bothpartiesagreetonegotiateingoodfaithtoreacha mutuallyagreeableresolutionregardinganyoutstandingobligationsordeliverables.

○ ThisScopeofWorkmaybeterminatedinitsentiretybyeitherpartywithoutcauseuponwritten noticebeforetheendofanyworkstream.ItmayalsobeterminatedinwholeorinpartbyDTPB uponTransparent'sbreachofthisScopeofWork,immediatelyuponwrittennoticeto Transparent ThisScopeofWorkmayalsobeterminatedbyDTPBintheeventthattheCOUNTY CONTRACTisterminatedornoticeofsuchcontractterminationisgiven UnlessTransparentis inbreachofthisScopeofWork,TransparentshallbepaidforservicesrenderedtoDTPB's satisfactionthroughthedateoftermination.AerreceiptofaTerminationNoticeandexceptas otherwisedirectedbyDTPB,Transparentshall:

■ Stopworkonthedateandtotheextentspecified.

■ Terminateandsettleallordersandsubcontractsrelatingtotheperformanceofthe terminatedwork

■ Transferallworkinprocess,completedwork,andothermaterialsrelatedtothe terminatedworktoDTPB

■ Continueandcompleteallpartsoftheworkthathavenotbeenterminated

● TransparentPartnerswill,atitsdiscretion,makerecommendationsforthird-partyvendorstoDTPBin ordertofulfillcertainaspectsoftheservicesoutlinedinthisStatementofWork(SOW).Transparent Partnerswillexerciseduediligenceinselectingandvettingthesevendorstoensuretheymeet,and wherepossible,exceedDTPBexpectations.

● TransparentPartnersmayenterintosubcontractswiththirdpartiesfortheperformanceofanypartof Transparentʼsdutiesandobligations Transparentisresponsibleandliablefortheproperperformance ofandthequalityofanyworkperformedbyanyandallsubcontractors

ForceMajeure:

● NeitherpartyheretoshallbedeemedinbreachofthisScopeofWorkifsuchpartyisunabletofulfillits obligationsunderthisScopeofWorkoranyportionthereofbyreasonoffire,earthquake,flood, hurricaneorothersevereweather,labordispute,actofwar,terrorism,riotorotherseverecivil disturbance,pandemic,epidemic,oranylocal,state,federal,nationalorinternationallaw, governmentalorderorregulation(collectively,a“ForceMajeureEvent”) UponoccurrenceofanyForce MajeureEvent,theaffectedpartyshallgivenoticetotheotherpartyofitsinabilitytofulfillsomeorallof itsobligationsunderthisScopeofWorkinatimelymanner IfTransparentisthepartyprovidingsuch notice,TransparentshallproposerevisionstothescheduleforcompletionoftheServices,whichDTPB mayacceptorrejectwithinfive(5)daysand,ifrejected,DTPBmayterminatethisAgreement.Either partyheretomayterminatethisScopeofWorkintheeventthataForceMajeureEventcontinues beyond(60)days.

TIMELINE

Themilestoneswithintheagreementshallbecompleted

*TimelinecontingentuponDTPBʼsneeds,businesspriorities,andavailability

COMPENSATION

Thisprojectwillbeexecutedbasedondefinedworkstreamsandassociateddeliverables Totalprojectfeeis $631,500

FEESCHEDULE(MonthlyInvoice)

Workstream1

● Invoice#1issueduponstartofworkstream1:$77,375(May2024orstartofWorkstream1)

● Invoice#2issueduponcompletionofallworkstream1deliverablesasoutlinedinTable1:ProjectWork Streams:$77,375(August2024oruponcompletionofWorkstream1) Workstream2

● Invoice#3issueduponstartofworkstream2:$111,875.00(July2024orstartofWorkstream2)

● Invoice#4issueduponcompletionofallworkstream2deliverablesasoutlinedinTable1:ProjectWork Streams:$111,875.00(October2024 oruponcompletionofWorkstream2) Workstream3

● Invoice#5issueduponstartofworkstream3: $61,62500(July2024orstartofWorkstream3)

● Invoice#6issueduponcompletionofallworkstream3deliverablesasoutlinedinTable1:ProjectWork Streams:$61,62500(August2024oruponcompletionofWorkstream3) Workstream4

● Invoice#7issueduponstartofworkstream4:$64,875.00(October2024orstartofWorkstream4)

● Invoice#8issueduponcompletionofallworkstream4deliverablesasoutlinedinTable1:ProjectWork Streams:$64,875.00(January2025oruponcompletionofWorkstream4)

*ImportanttonotethatthecostfortheProgramManagementishasbeendividedintothefouraboveworkstreams

TRAVEL

TravelandexpensesinsupportofthisSOWhavebeenestimatedas5%ofthetotalcost Travelandexpenseswill bechargedatcost,butwillnotexceedtheestimatewithoutpriorwrittenapprovalfromDTPB.Travelexpenses willbebilledasapass-throughexpensebyTransparenttoDTPB.

TravelandExpenses

$31,575.00

TransparentwillcomplyandensurethatitsemployeesandsubcontractorswillcomplywithallapplicableDTPB policies,including:(i)nosmoking;(ii)drug-freeenvironment;(iii)dresscode;(iv)non-harassment; (v)travel/expenseguidelines;(vi)timereporting,(vii)allsafetyandsecuritypolicies(includingaprohibition againstweapons),and(viii)computersecurityandusepolicies

ThisAgreementhasbeendulysignedbyDTPBandTransparenteffectiveasofMay9,2024.

INWITNESSWHEREOF,thepartiesacknowledgethatadulyauthorizedrepresentativeofsuchpartyhasexecuted thisAgreementasofthedatesetforthbelow,andacknowledgesthatsuchpartyhasread,understandsand agreestothetermsandconditionssetforthinthisStatementofWork.

TRANSPARENTMEDIAPARTNERS,LLC

By:

Name:

Title:

Date:

By: PARTNERDIGITALSIGNATURE

Name: DarrenRankine

Title: PartnerofTechnology

Date: April26,2024

DiscoverThePalmBeaches,