City Evaluates TPA Financials Amid 2026 Budget Preparation

During the recent Spokane Valley TPA Commission meeting, officials provided an update on the financial status of the Tourism Promotion Area (TPA) program, highlighting both revenue and expenditure projections for the year. As of June, TPA revenue has reached just over $600,000, which is slightly down but remains on track to meet the projected total of approximately $1.3 million for the year.

The discussion also addressed TPA expenditures, which are projected to total around $875,000 for the current year. This includes a significant contract with Spokane Sports for sports marketing and recruitment, valued at $400,000, which is set to continue through the end of the year. Additionally, the commission maintains a reserve account of about $325,000, representing 25% of incoming revenue.

A key point raised was the challenge of aligning the TPA program's reporting period, which runs from July 1 to June 30, with the city's calendar year budgeting. This discrepancy can complicate financial planning and expenditure processes.

Looking ahead, the commission is considering rolling over unexpended funds into the 2026 budget. This decision is driven by the need to allocate these funds effectively, given the limited time remaining in the current year to amend contracts and secure council approval for expenditures.

As the commission prepares for the 2026 budget discussions, these financial updates underscore the importance of strategic planning in promoting tourism and supporting local economic growth. The outcomes of these discussions will be crucial for ensuring that Spokane Valley continues to attract visitors and enhance its community resources.