OPERATIONS BUDGET: FY20

COBB IS PROACTIVELY PREPARED TO PIVOT FY20 OPERATIONS BUDGET

CT&T has a strong history of fiscal responsibility, conservative budgeting and forward-looking projections. That is why we were ready to adjust, preparing Cobb Travel & Tourism for the many hard months that lie ahead. This year, like no other, showed us the value of planning for the future.

Because of the timing of our funding and our fiscal year, which begins October 1, CT&T was fortunate to be able to be proactive instead of reactive as it became apparent that the pandemic would last longer than anyone would like.

Our team captured savings throughout the full budget, planning for the loss of hotel/motel and Cumberland Special Services District 1 income in future budgets. These cost savings allowed us to create a strategic fund of more than $1 million to supplement our FY21 and FY22 budgets and begin preparing for FY23. Equally as important, CT&T did not dip into the reserves.

FISCAL YEAR 2020

October 1, 2019-September 30, 2020

OPERATING REVENUES $3,578,337

Under budget by 2.78%

OPERATING EXPENSES $2,490,595

Favorable to budget by 32.33%

NET INCOME $1,087, 742

Savings being used to help supplement future budgets.