Branson finance committee reviews preliminary 2024 finances; seeks clearer tourism-tax reporting

Lisonbee, finance staff, presented preliminary November 2024 financial reports to the Branson Finance Committee and said the city budgeted $15,500,000 for 1% city sales-tax receipts and recorded $15,600,000 in collections for 2024. Tourism-tax receipts were reported at $17,873,000 against a budget of $17,800,000.

The presentation covered preliminary, not-finalized numbers: staff said year-end accruals and a 13th-period close remain pending and the figures shown were subject to change when staff completes those entries. After bond payments, available sales-tax-related funds were reported at $12,500,000, a figure Lisonbee said was about $68,000 higher than 2023. Lisonbee also told the committee, “We do not expect a budget surplus by the end of the year... and if we see a surplus, it will be less than a 100,000 by the time we do our accruals.”

Why it matters: Branson’s tourism tax funds local marketing and programming, including payments to the Convention & Visitors Bureau (CVB). Committee members said that without a clearer, timely breakdown it is difficult to coordinate city and CVB marketing and to verify how tourism tax dollars were spent.

Committee members pressed staff for greater packet lead time and line-item detail. A committee member, Glenn, said the volume of material provided shortly before the meeting limited effective review: “that volume of information 24 hours before a meeting doesn't make for an effective committee meeting because I personally, I don't really have time to prepare to go through the finances.” Staff agreed to provide future reports earlier and to solicit committee input on which reports and formats members prefer.

Members also asked about CVB reimbursements and year-to-date figures. Lisonbee said CVB (staff turnover at the CVB was cited) had not turned in all of its expense reports in time for the November snapshot and that staff has been reclassifying CVB expenditures as they are submitted; the committee was told a full breakdown of CVB spending and other charges posted to the tourism expense line will be provided at the April meeting when final 2024 numbers are presented. Lisonbee said some tourism-line charges include internal city items and cited a holdback or internal contingency and a $250,000 contribution noted as “towards the Chiefs, boosting efforts,” which staff said may post to the same tourism expense line.

Alderman Schultz urged the city to coordinate advertising investments with the TCED board to avoid duplication and to fill gaps: “it would be wise for us as a city to show what we're doing from a tourism investment advertising perspective at that same detail level so that both we and the... TCED are able to say, let's not first duplicate efforts.” Staff said it already reviews budgeting and marketing with CVB representatives and offered to create a recurring, more detailed report showing what posts to the tourism expense line.

Committee members also discussed internal capacity and systems. Staff said the city is migrating to the Tyler business system and expects the new system to provide better month-by-month revenue recognition and clearer reporting in 2025; one staff member, Allison, was identified as new to the finance function. The committee set expectations that April’s meeting will include finalized 2024 financials plus first-quarter 2025 updates so the committee can review current-year performance in real time.

Votes at a glance: The committee approved two routine items by voice vote during the meeting: approval of finance committee minutes for Aug. 28 and Oct. 29, 2024 (motion made and seconded; voice vote recorded as aye and motion passed), and review/acknowledgment of disbursements of $45,000 and over from July through December 2024 (motion made and seconded; voice vote recorded as aye and motion passed). The meeting adjournment was likewise approved by voice vote.

The committee concluded by directing staff to provide a more compact packet earlier ahead of future meetings, to prepare a detailed breakdown of the tourism expense line (including CVB year-to-date postings once submitted), and to present final 2024 financials and quarterly updates at the April meeting.