Discover Durant reports lower development-tax receipts, closes year with negative net income

Discover Durant staff told trustees that the authority’s bank balance stood at $430,259 and that year-to-date income for the fiscal year (which begins July 1) totaled $248,266. Staff reported January receipts of $19,381.24, “which is slightly historically lower than any of the years since we became a tourism authority,” and said net income for the fiscal year to date was a negative $176,796, largely driven by grant-funded special projects and advertising and promotional spending.

The staff overview noted the fall concert series had been costly and that the authority had tapped reserve funds while awaiting other revenue sources. Trustees discussed the drop in development-tax receipts and expressed concern that holiday-season travel and broader election-year travel patterns may have contributed to the lower January total.

On audit work, trustees were told auditors have the documentation they requested and are finalizing the 2023–24 fiscal-year audit. The authority previously budgeted roughly $15,000 for audit work; the new auditor estimated a cost of about $10,000–$11,000 for the engagement, and staff said the final bill should come in under the originally budgeted amount.

Trustees directed staff to continue monitoring month-to-month development-tax revenues and to return with additional analysis at a future meeting. The authority also received informational reports on Discover Durant website activity and, separately, that the Choctaw Nation tourism staff did not have a report at this meeting.

The authority did not take a formal vote on spending in this agenda item; later agenda items included discrete sponsorship motions.