Docstoc

Las Vegas on a Budget

Document Sample
Las Vegas on a Budget Powered By Docstoc
					                             Balloona Palooza – North Las Vegas
Lake Las Vegas - Henderson




                             Fabulous Las Vegas Strip




                  Annual Budget
               Fiscal Year 2008/2009
          Las Vegas, Clark County, Nevada
                                     Annual Budget
                                  Fiscal Year 2008/2009




             Prepared by the Finance Department
            Under the supervision of Brenda Siddall,
                   Vice President of Finance




         Las Vegas Convention & Visitors Authority
                    3150 Paradise Road
              Las Vegas, Nevada 89109-9096
                      (702) 892-0711
                      www.lvcva.com




Cover photos provided by Las Vegas News Bureau
TABLE OF CONTENTS

                                                                  PAGE
BUDGET MESSAGE

President's Budget Message                                          i

BUDGET STRUCTURE AND POLICY

Distinguished Budget Presentation Award                             1
Organizational Chart                                                2
Board of Directors and Executive Officers                           3
History of the LVCVA                                                5
Facilities of the LVCVA                                             6
Reader's Guide
   Financial Structure                                              8
   Structure of the Budget Document                                 8
   New Policies/Significant Events                                 10
   Financial Management Policies                                   10
   Marketing Policies                                              13
   Facility Policies                                               13
   Community Policies                                              13
   Budget Process                                                  15
   Budgetary Controls                                              16
   Budget Calendar                                                 17
Budget Summaries
   All Funds                                                       18
   Comparison to Prior Years – Total All Funds                     19
    Fund Balance Analysis                                          20

ANNUAL OPERATING BUDGET

General Fund Summary                                               21
  Graphs - General Fund Expenditures                               24
Revenue
  Graphs - Sources of Proposed Revenues & Major Revenue Sources    25
   Revenue Summary                                                 26
     Room Taxes                                                    27
     Gaming Fees                                                   29
     Use of Facilities                                             30
     Other Fees and Charges/Interest/Other Financing Sources       31
General Government
  Organizational Chart                                             32
  Graphs - Expenditures & Comparison of Actual to Budget           33
  Budget Analysis                                                  34
  Board of Directors & Executive                                   35
  Public Affairs                                                   36
  Human Resources                                                  37
Marketing
  Organizational Chart                                             39
  Graphs - Expenditures & Comparison of Actual to Budget           40
  Budget Analysis                                                  41
  Marketing and Advertising                                        43
  Sales and Services                                               46
Operations
  Organizational Chart                                             51
  Graphs - Expenditures & Comparison of Actual to Budget           52
  Budget Analysis                                                  53
  Facilities                                                       55
     Customer Experience                                           55
     Las Vegas Convention Center                                   56
     Cashman Center                                                59
  Security                                                         60
  Project Development                                              62
TABLE OF CONTENTS

                                                                    PAGE
ANNUAL OPERATING BUDGET (continued)

Operations (continued)
  Finance                                                            63
  Purchasing                                                         65
  Information Technology                                             67
Special Events
  Graphs - Expenditures & Comparison of Actual to Budget             68
  Budget Analysis                                                    69
  Special Events                                                     69
Grants & Other
  Graphs - Expenditures & Comparison of Actual to Budget             70
  Budget Analysis                                                    71
  Grants & Other                                                     71

CAPITAL FUND

Capital Projects Funds Summary                                       72
Capital Improvement and Replacement Fund                             73
   Capital Building and Land Improvements Listing                    77
   Capital Furniture and Equipment Listing                           80
Master Plan Enhancement Program Fund                                 83
Extraordinary Maintenance, Repair or Improvement Fund                84
Five-Year Capital Improvement Plan                                   85

DEBT SERVICE FUND

Debt Service Funds Summary                                           91
Debt Limit and Capacity                                              96
Bond Coverage                                                        97
Historical Perspective                                               98

PERSONNEL ALLOCATION

Summary of Personnel Requests                                       100
Summary of Authorized Positions                                     101
Authorized Positions by Organizational Unit/Section                 102
Bargaining and Non-bargaining Unit Classifications                  105

STATISTICAL DATA

General Fund Revenues by Source- Last Ten Fiscal Years              108
General Fund Expenditures by Source - Last Ten Fiscal Years         110
Use of Facilities - Last Ten Fiscal Years                           112
Excerpt of Rental Rates per Facility                                114
Demographic Statistics - Clark County, NV – Last Ten Fiscal Years   115
Visitor Analysis - Last Ten Calendar Years                          116
Visitor Demographic Statistics – Last Ten Fiscal Years              118
Principal Room Tax Payers - December 31, 2007                       119
Room Tax Rate Distribution by Jurisdiction – June 30, 2008          121

GLOSSARY                                                            122
                                                                        May 15, 2008



To the Board of Directors
Las Vegas Convention and Visitors Authority



I am pleased to present the fiscal year 2009 budget for your review and consideration. This budget is
the product of many months of work on the part of all the members of this organization. It represents
the expected revenues and planned expenditures for the LVCVA’s fiscal year from July 1, 2008 to
June 30, 2009. It has been prepared in conformance with the requirements of state law, Board
policies and governmental budgeting “best practices”.



                 The mission of the Las Vegas Convention and Visitors Authority:

                 “To attract visitors by promoting Las Vegas as the world’s most
                      desirable destination for leisure and business travel.”


The LVCVA has the sole responsibility to market and brand Las Vegas as a travel destination. Hotels
and resorts advertise and market their individual properties, while we market the city as a whole. We
fulfill our mission primarily through national and international advertising campaigns, sales efforts and
operation of the Las Vegas Convention Center and Cashman Center. In addition, we market Laughlin,
Mesquite and outlying areas.

The LVCVA underwent a strategic planning process three years ago that resulted in the Vision Plan.
The plan was comprehensive and aggressive – with a goal of achieving 43 million visitors by the end
of the decade. The three main elements of the vision plan are Grow the Brand, House the Brand and
Live the Brand. These elements serve as the foundation for establishing annual goals and are focal
points in the FY 2009 budget resource allocation.



                                        FY 2009 CHALLENGES


Las Vegas is embarking on its most dynamic period of growth in history. Beginning in the current
fiscal year, over 45,000 new hotel rooms will be added during the next five years to the current room
inventory of 134,000. Las Vegas hotels could house the entire city of Portland, Oregon. During this
time of unprecedented growth, the marketing efforts need to be intensified to ensure that Las Vegas
remains a top visitor destination.
This budget is being brought forward in the midst of a very challenging economic environment. The
chairman of the Federal Reserve Board recently indicated the possibility of a recession, citing turmoil
in the housing and credit markets. Prior economic downturns have had less of an effect on the Las
Vegas tourism industry than the national trends, possibly because while people may cancel or delay
vacations, they tend to need a get-away that is shorter and closer to their home. Las Vegas is within a
five-hour drive for over 22 million residents of southern California and Arizona.

In addition to economic concerns, the LVCVA has been the subject of various proposals to divert a
portion of our revenues. In 2007, legislation was passed that requires the LVCVA to issue debt to fund
transportation projects in the amount of $300 million, or $20 million per year in debt service,
whichever is less. The first transportation project has been approved by the Board of Directors and
the financing process is proceeding.

Two initiatives have been filed with the Secretary of State proposing to divert current and future room
tax money away from the LVCVA to fund education, roads and public safety. Because the initiatives
seek to change the Nevada constitution, voters must approve them at both the November 2008 and
2010 elections. The LVCVA filed a legal challenge to the initiatives, asking the court to dismiss both
initiatives, which would prevent them from appearing on the election ballot. The court recently ruled
that the initiatives may proceed. The LVCVA has filed an appeal with the State Supreme Court.


                                    FY 2009 BUDGET HIGHLIGHTS

The total FY 2009 budget for the LVCVA is $294 million. That amount reflects no growth over FY
2008. Operating expenditures account for $219 million, while capital, debt and reserves total $75
million.

Revenue

During the first six months of FY 2008, room taxes had mixed results. Half of the months exceeded
budget, while the other half came in below budget. Beginning in January, results for two consecutive
months did not meet budget expectations, although they did show gains over the same month in the
previous year. The March room tax decline deepened, coming in 9% lower than March 2007 and 15%
below budget. FY 2008 revenue expectations have been lowered by $8 million.

Since it is so late in the fiscal year, the FY08 "budget cuts" will consist of expenditure controls. One of
those expenditure controls is a hiring freeze. Another is the elimination of non-essential travel. The
major cost control measure will be capital expenditures.

Revenues in the FY 2009 budget total $279 million, an apparent decrease of 2 percent over the
current year’s budget. However, compared to our lower expectations for FY 2008, the FY 2009
revenues actually reflect an increase of $2.3 million, or a little under 1%.

Room tax is projected to provide $224 million, or 80% of total revenues. Room tax projections are
based on the number of lodging rooms available, occupancy rate and the average daily taxable room
rental rate.




                                                    II
Room inventory in Clark County currently stands at 148,800 rooms, with over 135,000 rooms in the
metropolitan Las Vegas area. A weighted average of 7,000 rooms will be added during FY 2009.



For every 1,000 new rooms, Las Vegas needs to                In calendar year 2007, average
attract 200,000 more visitors annually to maintain           annual occupancy rates were:
current hotel occupancy rates. The county-wide                      Las Vegas      90.4%
projection for FY 09 average occupancy rate is 89%.                 New York       83.7%
Occupancy in the greater Las Vegas area                             Oahu           76.9%
consistently exceeds that in other resort                           Los Angeles    75.2%
destinations.                                                       San Francisco 75.2%



The most volatile factor in calculating room taxes is the average daily room rate (ADR). With hotel
rooms being booked over the internet, price fluctuations are common with hotels having the ability to
respond quickly to occupancy trends. Taxable ADR is on track to increase 2.9% in FY 2008. Based on
the first three months of calendar year 2008, ADR is being projected to decrease 1.2% in FY 2009 to
$91.69.


                                                                  The $224 million projected for
     $             County-wide Taxable ADR                        LVCVA       room    tax    revenue
                                                                  represents about half of the total
                                                                  $420 million in room taxes that
         100                                                      will be collected in Clark County.
                                                                  Other        local     government
          90                                                      jurisdictions will receive about
                                                                  $196 million for schools, roads
          80                                                      and other general government
                                                                  needs. In addition to that, the
          70                                                      LVCVA will return $26 million to
                                                                  the other government entities in
          60                                                      the form of grants and pay
                                                                  approximately $3.9 million in debt
          50                                                      service for transportation bonds.
               FY 04 FY 05 FY 06 FY 07 FY 08 FY 09                The end result is that the LVCVA
                                                                  nets roughly 46% of the total
                                                                  room tax.


Revenue from rental of the Las Vegas Convention Center (LVCC) is projected to remain flat in FY 09,
primarily due to the start of construction related to the Master Plan Enhancement Project (MPEP).
Utility relocation work will be occurring in the parking lots this summer and ground-breaking for the
north/south connector and the Desert Inn meeting rooms will take place in December and January.




                                                III
Other revenues include gaming fees, Cashman Center rental, interest earnings and revenue sharing
on sports sponsorships. During FY 08, the LVCVA sponsored the 2007 Federation International de
Basketball Americas Championship (FIBA) for men. FIBA was the pre-Olympic qualifier for men’s
basketball and featured ten national teams. Both ‘other revenue’ and special event expenditures are
showing declines in FY 09 due to that event being hosted in FY 08.

                                            FY 08 Expected             FY 09           Change

                      Room Tax              $ 219,000,000        $ 224,000,000              2%

                      LVCC Revenue              44,766,000           44,936,000               --

                      Other Revenue             13,421,300           10,563,400          -21%

                      Total                 $ 277,187,300        $ 279,499,400              1%

                       Note that FY 08 reflects the lowered expectations instead of the budget.




Expenditures


Operating expenditures in the FY 2009 budget total $219 million, which represents no growth over FY
2008.

                                                         FY 08             FY 09           Chg

                     General Government                   $ 9.6            $ 10.1           6%

                     Marketing                              36.1                35.8        -1%

                     Advertising                            87.5                88.6        1%

                     Operations                             45.2                48.7        8%

                     Special Events                         13.7                 8.9       -35%

                     Grants & Other                         27.4                26.7        -3%

                     Operating Expenditures              $219.5            $218.8           0%

                                                                (In millions)



General Government includes the functions of Board of Directors, Executive, Human Resources and
Public Affairs. The major expenditure increase for FY 09 is in legal fees.




                                                          IV
Advertising will continue the ongoing approach that has been so successful in the past few years. The
pop culture phenomena of:
                         What happens here, stays here.                       TM


will continue to lead the ad campaign, supplemented by the Your Vegas is Showing campaign. A new
campaign currently running is Vegas Right Now, which is intended to drive immediate and
spontaneous visitation.

A new function added to the Operations budget in FY 09 is administrative support for the MPEP. The
LVCVA entered into an agreement in 2005 with MWH Americas to act as program manager and
construction manager for the Master Plan Enhancement Project (MPEP). Part of MWH's services are
to act as the Owner's (LVCVA) eyes and ears and represent our interests in all aspects of the MPEP.
However, additional administrative support is required for permitting, advertising, repographics, plans
check fees, and inspections.

Almost $7 million in funding will be provided to Las Vegas Events (LVE), a non-profit corporation
dedicated to securing and sponsoring events that encourage visitation to the area. In addition to the
LVCVA’s funding, LVE will use a portion of the earnings they have built up over several years to fund
some events.


Operating Transfers

Transfers to the capital fund are budgeted at $15 million. The LVCVA maintains capital sub-funds that
are used for different purposes. Annual capital is being funded for $4.4 million. Any capital
improvement or asset costing $500 or more is budgeted in annual capital. This includes projects at
both the Las Vegas Convention Center and at Cashman Center. It also includes items of furniture and
equipment.

The Capital Improvement Program (CIP) is a multi-year plan that includes major projects that cost
over $1 million or that require multi-year planning to fit them into the building schedule. It covers
everything from painting the building exterior to providing a redundant power feed to the central plant.
The CIP project listing currently totals $78 million over the long-term. In FY 09, funding of $4 million is
being added.

Capital Reserve is similar to the CIP in that it accumulates money over multiple years. Its purpose is
to provide funding for the pay-as-you-go portion of the master plan enhancement program and
owner’s contingency. The FY 09 addition to the capital reserve is $5 million.

Transfers to the debt service fund are $58 million. Debt service on current outstanding bond issues is
$25.7 million. In addition, funding of $12.5 million has been provided for debt service on the
commercial paper debt issuance approved by the Board in February 2006 to begin implementing the
projects approved in the master plan. Another $15.9 million is being placed in a debt reserve fund.
Bonds to fund transportation projects, as approved by the 2007 legislature, are in the process of being
issued. Debt service amounting to $3.9 million is provided in the FY 09 budget.

Ending fund balance on June 30, 2009 is projected at $14 million. State law provides guidance for an
ending fund balance of between 4% and 8.3% of budgeted expenditures. The FY 09 ratio is 6.4%,
which meets the target established in the five year forecast.



                                                    V
As we review what has been accomplished in the third year of the Vision Plan, and set forth the goals
for year four, we can be pleased with the progress that has been made. This budget incorporates a
long-term perspective and establishes linkages to the broad organizational goals outlined in the
Vision.

We will be keeping an eye on the economy during the upcoming budget year. A driving force in the
budget preparation this year was flexibility. We monitor revenues constantly and can adjust
expenditures to meet fluctuations in the forecast revenues.

Facilitation of the budget process and the development of a budget document is a major undertaking.
The team effort reflects the collaborative spirit within our organization. I would like to thank the
departments and the Board of Directors for their efforts, support, and feedback during the budget
process. Lastly, I would like to thank the budget staff. They did a great job coordinating the
organization-wide efforts on budget and capital plan development, forecast updates, and document
production. I also congratulate them on receiving the Government Finance Officer’s Distinguished
Budget Presentation Award.


                                                   Sincerely,




                                                   Rossi Ralenkotter
                                                   President / CEO




                                                 VI
DISTINGUISHED BUDGET PRESENTATION AWARD

The Government Finance Officers Association of the United States and Canada (GFOA) presented an
award of Distinguished Budget Presentation to the Las Vegas Convention and Visitors Authority for its
annual budget for the fiscal year beginning July 1, 2007.

In order to receive this award, a governmental unit must publish a budget document that meets program
criteria as a policy document, an operations guide, a financial plan, and a communications device.

The award is valid for a period of one year only. We believe our current budget continues to conform to
program requirements, and we are submitting it to GFOA to determine its eligibility for another award.




                                                  1
LVCVA ORGANIZATIONAL CHART


                                      BOARD OF
                                      DIRECTORS




                             LEGAL
                            COUNSEL




                                      EXECUTIVE




                  HUMAN                                     PUBLIC AFFAIRS
                RESOURCES




                MARKETING                                       OPERATIONS




      MARKETING &           SALES &                FACILITIES                 FINANCE
      ADVERTISING           SERVICE




                                                  INFORMATION                PURCHASING
                                                  TECHNOLOGY




                                                    PROJECT                   SAFETY &
                                                  DEVELOPMENT                 SECURITY




                                           2
BOARD OF DIRECTORS AND EXECUTIVE OFFICERS

The Las Vegas Convention and Visitors Authority (LVCVA) is governed by a Board of Directors consisting of
fourteen members. Eight members are elected officials from either Clark County or one of the
incorporated cities therein. The Las Vegas Chamber of Commerce (CC) and the Nevada Resort
Association (NRA) nominate three each of the remaining six members.
Current members of the Board, along with terms of office, are as follows:

Elected Members:                                            Appointed Members:
Mayor Oscar Goodman, Chair                                  Mr. Keith Smith, Vice-Chair
Representing City of Las Vegas                              Representing resort hotel business (NRA)
Term: July 1999 – June 2011                                 Term: April 2005 – June 2008

Mayor James Gibson, Secretary/Treasurer                     Mr. Charles Bowling
Representing City of Henderson                              Representing central business district (NRA)
Term: July 1997 – June 2009                                 Term: July 2005 – June 2009

Councilman Larry Brown                                      Mr. Scott M. Nielson
Representing City of Las Vegas                              Representing resort hotel business (NRA)
Term: July 2003 – June 2009                                 Term: August 2007 – June 2009

Commissioner Tom Collins                                    Mr. Tom Jenkin
Representing Clark County                                   Representing resort hotel business (CC)
Term: January 2005 – December 2008                          Term: December 2003 – June 2009

Mayor Michael Montandon                                     Ms. Kara Kelley
Representing City of North Las Vegas                        Representing other commercial interests (CC)
Term: July 2003 - June 2009                                 Term: July 2005 – June 2009

Mayor Susan Holecheck                                       Mr. Andrew Pascal
Representing City of Mesquite                               Representing tourism (CC)
Term: August 2007 - June 2011                               Term: July 2006 – June 2008

Councilman Mike Pacini
Representing City of Boulder City
Term: July 2003 – June 2009

Commissioner Rory Reid
Representing Clark County
Term: March 2007 – December 2010

The terms of appointment for the eight elected officials are coterminous with their terms of office. The six
remaining members serve a 2-year term but can be reappointed to additional 2-year terms.




                                                     3
BOARD OF DIRECTORS AND EXECUTIVE OFFICERS

The Board serves as a policymaking body and employs a president to serve as chief executive officer. The
LVCVA executive committee consists of:

       Rossi Ralenkotter                                 President and CEO
       E. James Gans                                     Senior Vice President, Operations
       Terry Jicinsky                                    Senior Vice President, Marketing
       Vince Alberta                                     Vice President, Public Affairs
       John Bischoff                                     Vice President, International Brand Strategy
       Mark Haley                                        Vice President, Facilities
       Chris Meyer                                       Vice President, Convention Sales
       Mark Olson                                        Vice President, Human Resources
       Luke Puschnig                                     Vice President, Legal Counsel
       Brenda Siddall                                    Vice President, Finance
       Cathy Tull                                        Vice President, Strategic Planning




                                                   4
HISTORY OF THE LAS VEGAS CONVENTION AND VISITORS AUTHORITY

Las Vegas has long been a favorite vacation destination for millions of tourists. In the early 1950s, however,
community leaders realized the cyclical nature of tourism caused a significant decline in the number of
visitors during the weekdays, throughout the summer months, and over the holiday season. In order to
attract more visitors to the area during slow periods, a new market was needed - convention travelers. This
idea became the seed that blossomed into the development of the Las Vegas Convention Center,
established by the Nevada Legislature in 1955 as the Clark County Fair and Recreation Board. Its function
was to operate the Las Vegas Convention Center and promote Southern Nevada as a convention-tourism
destination.

Original construction of the Las Vegas Convention Center began in 1957. It consisted of a rotunda, 18
meeting rooms and 90,000 square feet of exhibit space. Official opening ceremonies took place in April
1959, when the World Congress of Flight became the first convention to meet at the Las Vegas Convention
Center. This fiscal year marks the 50th Anniversary of the opening of the Las Vegas Convention Center.

Resolutions passed by the Board of Directors on June 27, 1967 and March 19, 1974 led to the renaming of
the Clark County Fair and Recreation Board to the current Las Vegas Convention and Visitors Authority.

During FY 2002, the Las Vegas Convention Center completed one of its largest expansions, which included
a two-story exhibit hall addition. It now contains more than 3.2 million square feet of exhibit hall and
meeting room space. The Convention Center contains 16 exhibit halls, 144 meeting rooms, restaurants, a
business center, warehouses and administrative offices.

The LVCVA also operates Cashman Center, which opened in 1983. It is a multi-purpose facility built with a
10,000-seat baseball stadium, 1,922-seat theatre, 98,100 square feet of exhibit space and 12 meeting
rooms.     On August 11, 1998, the Board approved a name change from Cashman Field Center to
Cashman Center.

During the ensuing years, the function of the LVCVA has evolved into the following mission:
               To attract visitors by promoting Las Vegas as the world’s most desirable destination
               for leisure and business travel.

The LVCVA’s primary source of revenue is provided by a tax imposed on hotels, motels, and other transient
lodging establishments in Clark County. The rate levied varies from 9% to 11% for resort hotels and 7% to 9%
for non-resort hotels depending on the establishment’s jurisdiction (see page 121 for room tax rate
breakdown by jurisdiction). The division of room tax, as of July 1, 2008, is presented below:

                     Resort Hotels                                          Other Hotels / Motels
                     State    County Clark County                              State     County Clark County
          Taxing       of    Transpor-  School                       Taxing       of    Transpor-  School
 LVCVA     Entity   Nevada     tation   District            LVCVA     Entity Nevada tation         District
  4-5%     0-2%      3/8%        1%     1 5/8%               2-4%     0-2%      3/8%        1%     1 5/8%


The LVCVA is empowered by the Nevada state legislature to:
               Provide for the levy of ad valorem taxes by the Board of County Commissioners,
               Acquire real property through the exercise of the power of eminent domain by
               the Board of County Commissioners, and
               Issue general obligation bonds in the name of and on behalf of the County.




                                                      5
FACILITIES OF THE LAS VEGAS CONVENTION AND VISITORS AUTHORITY


                              LAS VEGAS CONVENTION CENTER




The Las Vegas Convention Center is one of the most modern and functional facilities in the world -
a 3.2 million square foot facility located within a short distance of more than 100,000 guest rooms. In
addition to more than two million square feet of exhibit space, 144 meeting rooms (more than
241,000 square feet) handle seating capacities ranging from 20 to 2,500. A grand lobby and
registration area (more than 225,000 square feet) efficiently link existing exhibit halls with new
exhibit and meeting rooms, allowing simultaneous set-up, break-down and exhibiting of multiple
events.

                                                      6
FACILITIES OF THE LAS VEGAS CONVENTION AND VISITORS AUTHORITY

                                     CASHMAN CENTER




Cashman Center is a multi-use facility encompassing 483,000 square feet on a 55-acre site near
downtown Las Vegas. The facility includes approximately 98,100 square feet of exhibit space, 12
meeting rooms, a 1,922 seat state-of-the-art theatre, 2,700 spaces for parking, and a 10,000 seat
baseball stadium which is the home of the Las Vegas 51s, the AAA affiliate of the Los Angeles
Dodgers. Each segment of the facility is capable of functioning independently or in any
combination for conventions and trade shows, business/group meetings, theatrical presentations,
and sporting events.




                                                   7
READER`S GUIDE TO THE LVCVA BUDGET DOCUMENT

                                        FINANCIAL STRUCTURE

Nevada Revised Statutes govern most of the LVCVA’s activities, including financial structure, purchasing
procedures, budgeting, debt, and investments.        Accounting and budgeting for a governmental
organization is somewhat different from profit-making businesses in that governmental organizations use
funds. A fund is a separate accounting entity with its own assets, liabilities, revenues and expenditures.
The LVCVA has three major funds, the General Fund, Capital Funds and Debt Service Funds.

The LVCVA budgets its governmental funds, which include the general fund, capital projects funds, and
the debt service funds, based on the modified accrual basis of accounting. Under this method, revenues
(income) are recognized, and any related receivable is recorded, when they become both measurable
and available to finance expenditures. Room tax, the primary source of LVCVA revenue, is recognized at
the time it is received and held for disbursement by the collecting governmental entity. Interest and
facilities rental revenues are recognized when earned. Expenditures (expenses) are recognized when the
liability is incurred, except for unmatured principal and interest on long-term debt which is recognized
when due. Definitions for each fund group are provided in the glossary.

All LVCVA funds are presented in the comprehensive annual financial report (CAFR) on the basis of
generally accepted accounting principles (GAAP) and conform to the manner that the LVCVA prepares
its budget (i.e. modified accrual basis). Encumbrances are sometimes viewed as an extension of the
formal budget integration even though those amounts were adopted in the previous year’s budget. They
consist of purchase orders, contracts and other commitments for expenditures of monies that are
recorded in the accounting system in order to reserve the portion of the applicable appropriation. At
fiscal year end, outstanding encumbrances are reported as reservations of fund balance and are
reappropiated in the next fiscal year, since they are not considered expenditures or liabilities.

                             STRUCTURE OF THE BUDGET DOCUMENT

The goal of this budget document is to provide not only comprehensive information about estimated
revenues and expenditures but also the policies, goals, financial structure, operations, and an
organizational framework that show how the LVCVA will work towards its mission for fiscal year 2009. A
main objective is to communicate to the readers (i.e. the Board of Directors, management, other
organizational units and the public) in a manner that is clear, concise and understandable.

The LVCVA budget is comprised of seven main sections: Budget Message, Budget Structure and Policy,
General Fund, Capital Fund, Debt Service Fund, Personnel Allocation, and Statistical Data.

                      BUDGET MESSAGE and BUDGET STRUCTURE and POLICY
These sections provide a general overview of the LVCVA. It includes the president’s budget message, this
reader’s guide, and condensed summaries of the budget. The budget structure and policy section
contains a brief historical view of the LVCVA, along with its financial structure, various policies, budget
procedures and fund balance analysis.

                                              GENERAL FUND
The operating budget (i.e. general fund), beginning on page 21 presents budgetary information for
revenues, followed by the functions of general government, marketing, operations, special events and
grants. The emphasis is on the nature of the tasks to be undertaken by the organization. This section
identifies the purpose of each organizational unit, its responsibilities, and goals for the ensuing fiscal year,
selected activity measures, and prior year achievements. Appropriations are summarized in major
categories of salaries, employee benefits, and services and supplies. Also included is the number of full-
time employees and capital outlay related to the division.


                                                       8
READER`S GUIDE TO THE LVCVA BUDGET DOCUMENT

                     STRUCTURE OF THE BUDGET DOCUMENT (continued)

                                       GENERAL FUND (continued)
For financial reporting and budgeting purposes, the LVCVA has classified its expenditures by functions,
activities, and organizational units.    The function classification arranges related activities, providing
information on the overall purposes or objectives of expenditures. Activities are similar endeavors or
groupings of organizational units performing a specific and distinguishable type of work.

  FUNCTIONS              ACTIVITIES                           ORGANIZATIONAL UNITS
  General         Board of Directors         Board of Directors
  Government      Executive                  Executive, Internal Audit, Legal, Board Office,
                  Human Resources            Human Resources
                  Public Affairs             Media Relations, News Bureau
  Marketing       Marketing & Advertising    Advertising, Internet Marketing & Research, Sports Marketing
                  Sales and Services         Convention Center Sales, Convention Sales
                                             Diversity Marketing, Destination Services
                                             Convention Services, International Sales
                                             Leisure Sales
  Operations      Facilities                 Customer Experience, Client Services, Engineering
                  Security                   Security, Physical Security, Traffic
                  Finance                    Financial Services, Accounting, Payroll, Travel, Records
                  Purchasing                 Purchasing, Materials Management
                  Information Technology     Information Technology
                  Project Development        Project Development

The organizational chart shown on page 2 is closely related to each unit’s financial classification. In
general, divisions relate to functions, departments relate to activities, and sections relate to organizational
units. Special events and grants are unrelated to the organizational structure. Functions are the basic unit
of the operating budget. Within each function, activities and organizational units are discussed in a
narrative format. Also included within this discussion is a more detailed organization chart.

                                              CAPITAL FUND
The capital fund budget, starting on page 72 includes a capital project and purchases listing and the five-
year capital plan, which is reviewed and updated annually. This section explains the capital projects
review and selection process, and includes a description of major projects and estimated impacts on the
operating budget. There are three separate capital project funds being used: Capital Improvement and
Replacement Fund, Extraordinary Repair, Maintenance, and Improvement Fund, and the Master Plan
Enhancement Program Fund.

                                           DEBT SERVICE FUND
The debt service fund budget on page 91 provides not only a historical perspective concerning the
LVCVA’s past bond issues, but also a review of current and proposed bond obligations, the bond issuance
process and debt limit and capacity.




                                                      9
READER`S GUIDE TO THE LVCVA BUDGET DOCUMENT

                    STRUCTURE OF THE BUDGET DOCUMENT (continued)

                                       PERSONNEL ALLOCATION
Information on personnel requests, including justifications, authorized positions by organizational unit, and
wage schedules is located in the personnel allocation section, beginning on page 100.

                                           STATISTICAL DATA
Statistical data starts on page 108. It contains information on demographics for Clark County, visitor
analyses, principal room taxpayers, and a room tax schedule, along with ten-year schedules of facility
usage for the Convention Center and Cashman Center and general fund revenues and expenditures.

                              NEW POLICIES/SIGNIFICANT EVENTS
The Board of Directors acted upon the following items during fiscal year 2008:
       Selected a “Master Architect” to complete the Master Plan Enhancement Program design effort.
       The Master Architect will retain Las Vegas based architectural/engineering firms along with other
       consultants to form a project team working from a single office in Las Vegas. (July 2007)

       Authorized the sale of revenue bonds in the amount of $50 million and purchased 8.44 acres of
       property. The land will be used for outdoor exhibits, parking, freight staging and construction lay
       down and staging. (Sept 2007)

       Approved a new inter-local collection allocation agreement. The agreement, first entered into in
       1964, provided that collection allocation be allocated by way of population. The newly adopted
       agreement maintained the reimbursement allocation up to the level as paid in FY 2007
       (“Baseline”). Reimbursement over the baseline will be paid to the entity that collected the
       increase. The reimbursement formula will be phased in over the next five years. (Sept 2007)

       Updated the investment policy. New changes include replacing a member of the investment
       committee with a member outside of the Operations Division and allow investments with maturity
       dates up to five years instead of two years. (Mar 2008)

                                FINANCIAL MANAGEMENT POLICIES

During each stage of the budget preparation process, consideration is given to the policies and goals
established by the Board and Executive Management that directly relate to the budget and financial
planning. The financial policies are divided into the following categories: Operating Management, Capital
Management, Debt Management, Reserve/Fund Balance, and Financial Reporting.

                                       OPERATING MANAGEMENT
       Projections used to balance revenues to expenditures will be prepared for a five-year period
       and updated annually.

       Conservative but realistic revenue projections will be prepared to assess the limits of budget
       appropriations. If projections are too high, under-realized revenues could cause budget cuts
       mid-fiscal year.

       Operating expenditures will be funded with current revenues. For FY 09, current budgeted
       revenues of $277.3 million fund operating expenditures of $218.8 million.




                                                     10
READER`S GUIDE TO THE LVCVA BUDGET DOCUMENT

                     FINANCIAL MANAGEMENT POLICIES (continued)

    The LVCVA is required by law to submit a balanced budget each year to the State of Nevada
    for approval. This is defined as a budget in which proposed revenues and other financing
    sources are equal to or exceed proposed expenditures.

    Investments of cash funds will be maintained in accordance with the Board-approved
    investment policy and state statute. The primary objectives of this policy are to minimize risk,
    ensure that cash is available when it is needed, and ensure a competitive rate of return while
    complying with the laws of the State of Nevada – in that order.

    Interest earnings on investments in the capital and debt service funds will be transferred into
    the general fund, except for earnings on the proceeds from construction financing (i.e. bonds,
    commercial paper).

    The Board authorizes adjustments to the full-time position roster, currently at 574 positions. All
    requests for new positions must contain a justification and evaluate total costs including
    benefits and capital outlay. Temporary employees are used only to augment regular staffing
    on a temporary or intermittent basis. Staffing is discussed in the personnel allocation section,
    page 100. There are no new position requests in FY 2009.

    The current collective bargaining agreement with Service Employees International Union Local
    1107, along with additional LVCVA personnel policies, direct such items as annual pay
    increases, personal time off (PTO) accruals, and pension plan contributions. All are taken into
    account in the preparation of the budget. This agreement expires June 30, 2008 and at the
    time of budget preparation, negotiations are taking place.

                                      CAPITAL MANAGEMENT
    A five-year capital improvement plan will be updated annually. It is presented to the Board of
    Directors with the annual budget and is adopted at the same time.

    The capital improvement plan must include a list of proposed capital improvements or
    purchases with cost estimates, methods of financing (i.e. room taxes, use of facilities revenue
    or debt issue), and any estimated income or cost associated with the constructed facilities.
    Only projects or purchases costing over $20,000 in one fiscal year or included in a multi-year
    equipment replacement program appear in the plan. A listing of the five-year capital plan
    projects is included in this budget book. The detailed five-year capital plan is a separate
    document published along with the annual budget.

    The LVCVA is required by state law (NRS 350.013) to submit its capital improvement plan to the
    Nevada State Department of Taxation and the County Clerk with our Debt Management
    Policy and Indebtedness Report on August 1.

    A balance of pay-as-you-go capital improvements versus financing will be evaluated taking
    into account the various economic factors.

    Nevada Administrative Code 354.750 requires that local governments perform a physical
    inventory, every two years. Each item subject to the inventory must be assigned an identifying
    number and be labeled as belonging to the LVCVA. This same code sets the guidelines for
    the establishment of capitalization thresholds by resolution.




                                                  11
READER`S GUIDE TO THE LVCVA BUDGET DOCUMENT

                     FINANCIAL MANAGEMENT POLICIES (continued)

                                       DEBT MANAGEMENT
    The LVCVA will actively seek to maintain, and if possible, improve our current bond ratings in
    order to minimize borrowing costs resulting in lower interest rates.

    Debt issuance is governed by Nevada state law. The LVCVA’s Board of Directors is
    empowered to issue general obligation bonds; however, state statute requires that these
    bonds be issued in the name of the County.

    Although state statute allows the LVCVA to use property taxes for debt service, only net
    pledged revenues derived from room taxes and use of facilities revenue have ever been
    used. No ad valorem property tax revenues are allocated to the LVCVA for any purpose and
    this practice will continue.

    The LVCVA is required to file several reports with the Debt Management Commission prior to
    August 1, regardless if new debt is being contemplated or not. The specifics of the reports can
    be found on page 91.

                                     RESERVE/FUND BALANCE
    A minimum unreserved fund balance of between 4.0% and 8.3% of budgeted general fund
    operating expenditures will be maintained. Our proposed FY 2009 unreserved fund balance
    is 6.4%.

    Reserves will be sufficient to pay principal and interest on the outstanding bond issues due on
    July 1.

    A contingency reserve of $1,000,000 will be funded for the discretionary use of the Board of
    Directors. However, use of these funds should be utilized only after the availability of all other
    budget sources are examined.

    The LVCVA is required by an inter-local agreement with Clark County to provide funding for a
    13th month premium to the Clark County Self-Funded insurance program, in case of more
    claims being paid-out versus premiums collected.

                                      FINANCIAL REPORTING
    The LVCVA’s accounting and financial reporting systems will be maintained in conformance
    with generally accepted accounting principles (GAAP) and standards of the Governmental
    Accounting Standards Board (GASB) and the Government Finance Officers Association
    (GFOA).

    An annual audit will be performed by an independent public accounting firm, with an audit
    opinion to be included in the LVCVA’s published Comprehensive Annual Financial Report
    (CAFR).

    Financial systems will be maintained to monitor revenues, expenditures and program
    performance (i.e. special events and grants) on an on-going basis.




                                                  12
READER`S GUIDE TO THE LVCVA BUDGET DOCUMENT

                                         MARKETING POLICIES

Filling the available hotel and motel rooms becomes more challenging each year. Nationally, the spread
of gaming across the nation has lessened Las Vegas’ monopoly on the industry. We used to be the “only
game in town”; now we have to be the “best game in town.” The past 15 years has seen tremendous
expansion and growth of resort properties in the Las Vegas metropolitan area. This has driven the number
of hotel rooms from 76,000 in 1993 to the current estimated 148,800. Some of the marketing policies that
have been tailored to meet these challenges include:
       Stay abreast of current market conditions and travel trends in order to tailor marketing
       strategy to achieve maximum impact.

       Use national advertising to stimulate interest in Las Vegas for tourism and as a convention
       destination.

       Target market segments, such as international and diversity, to attract visitors with varied
       demographic profiles.

       Conduct market research to measure the local economic impact of tourism, monitor tourist
       characteristics and test new messages for key target audiences.

       Identify and promote special events that will attract previously untapped market segments.

                                           FACILITY POLICIES

The Las Vegas Convention Center is one of the largest meeting facilities in the nation, with more than 3.2
million square feet. In FY 07, the Center hosted 78 conventions, 15 public events, and 3 meetings. Over
6.2 million delegates attended trade shows and conventions in Clark County. “Have a show in the
building, another one moving in and one moving out.” This goal is closer to being realized than ever.
Reasonable rates and the finest facilities in the country are the secret of our success. Policies that guide us
toward this goal include:
       Maintain a competitive edge in the facility rate structure. Even with the newly adopted rate
       changes going into effect in FY 2010 and FY 2013, the Las Vegas Convention Center moves
       only from 17th to 13th in a comparison of national convention center rental rates. This ranking
       presumes that no other convention centers raise their rates in the interim.

       Create an outstanding experience for every visitor via the appearance and the amenities
       found in the facilities and provide excellent customer service.

       Prevent deterioration of      buildings   and    equipment    through   scheduled    preventive
       maintenance programs.

       Pursue aggressive energy and water conservation programs; thereby reducing operating
       costs.

                                         COMMUNITY POLICIES

Since the first general obligation bonds were issued in 1957, the LVCVA has maintained a history of
supporting the community through grants. The Board has established several grant programs including the
following:
       Apportion annual recreation grants to Clark County and the incorporated cities within (Las
       Vegas, North Las Vegas, Henderson, Boulder City and Mesquite) for capital improvements to
       recreational facilities (i.e. parks, pools, community centers).

                                                       13
READER`S GUIDE TO THE LVCVA BUDGET DOCUMENT

                             COMMUNITY POLICIES (continued)

    Award grants to local non-profit chamber of commerce, Clark County and its incorporated
    cities, for the development, promotion and increase of tourism within Clark County.

    Return a collection fee (up to 10% of total room tax and gaming fees received by the
    LVCVA) to the collecting entities (i.e. Clark County and its incorporated cities). The amount
    of fees paid to the collecting entities that exceed the reasonable costs incurred in collecting
    the room taxes and gaming fees must be used for the operations and maintenance of
    recreation programs or facilities.




                                                  14
READER`S GUIDE TO THE LVCVA BUDGET DOCUMENT



                                         BUDGET PROCESS
An annual budget is developed to meet the needs and the goals of the organization based on the
Board’s priorities and long-range plans and to comply with Nevada Revised Statutes. It should also serve
as a management and control tool by measuring actual performance against budget standards, focus
attention on future operations and plans, and improve communication of goals, objectives and plans.
Below are the summarized highlights in preparing the annual budget. The budgetary controls and budget
calendar follow, indicating the deadlines to meet the legal mandates of the State of Nevada.
   1. Revenue Estimates and Projection Updates - The process begins with the Finance Department
      updating the five year forecast and preparing preliminary revenue projections taking into
      consideration national, state and local economic indicators and analyses of the LVCVA’s
      major revenue sources. Executive management meets to review the information, update
      strategic plans and determine preliminary budget guidelines.

   2. Budget Training Sessions - Budget preparation manuals are distributed by Finance to all
      departmental budget preparers at budget training sessions. The manual contains instructions
      for accessing and using the computerized budget system (OLB), preparing narratives, goals
      and activity measures, requesting new personnel and justifying capital requests.

   3. Zero Based Budgeting – Beginning in FY 2009 the LVCVA began a zero based budget process.
      Departments build their budgets from the ground up, justifying groups of related expenditures.
      Consideration is given to any additional budget guidance as given by executive
      management.
   4. Goals, Objectives and Performance Measurements - Departments are required to develop
      goals, objectives and activity measures to show what services are going to be provided. The
      goals must complement the organization and divisions’ mission statements and goals.
   5. Tentative Budget Adoption - The tentative budget document is presented to the Board of
      Directors at a public hearing. It is then filed with the Nevada Department of Taxation and the
      County Clerk as required by Nevada Revised Statues, usually on or before April 15th.
   6. Budget Book Development - Since the financial and narrative information is completed by this
      point, the Finance Department prepares the budget book which is compromised of the
      operating, capital and debt service budgets.
   7. Public Hearing and Final Budget Adoption - Between April 15 and the third Thursday in May,
      the public has the opportunity to review the tentative budget document and submit any
      comments for inclusion on the agenda of the public hearing. The hearing provides the public
      an opportunity to comment on the proposed budget to the Board of Directors.




                                                   15
READER`S GUIDE TO THE LVCVA BUDGET DOCUMENT

                                        BUDGETARY CONTROLS
Some of the significant controls pertaining to the budget are as follows:

           The budget process for the operating (general fund) and capital funds is decentralized; all
           departments participate in the process and input budget amounts and justifications into
           the computerized on-line budget system.

           Annual budgets for the upcoming fiscal year (July 1 through June 30) are adopted for all
           funds. These final budgets are integrated on July 1 with the LVCVA’s accounting system.

           Each fund in the budget must be in balance; total revenues including other financing
           sources plus beginning fund balance must equal total expenditures including other
           financing uses plus proposed ending fund balance.

           The statutory level of budgetary control is at the function level; however, in reality, control
           is maintained at the line item level through the use of a purchase order and encumbrance
           system. An encumbrance is recorded in the accounting system when a purchase order is
           issued. At fiscal year end, outstanding encumbrances are reported as reservations of fund
           balance and are reappropiated in the next fiscal year via the budget augmentation
           process, since they are not considered expenditures or liabilities.

           The LVCVA is currently using a “zero-based” budget method. Each department must build
           their budget from the ground up justifying each group of related expenditures.
           Departments can request additional funding for new positions, equipment or operating
           expenses to expand existing or for new programs or initiatives.

Budgetary performance is measured by line item budget variance reports. Departments have the ability
to run the report themselves at anytime. Budget variance reports are linked to the accounting system and
when run provide real time data. Budget variance reports are distributed to the Board on a monthly basis.
A capital expenditure versus budget report by project number is issued monthly as well.

                                           BUDGET TRANSFERS
There are three types of transfers of budget appropriations that are permitted by state law.

   1) Transfers within the same function (i.e. General Government, Marketing, Operations, Special
      Events and Grants) and same fund (i.e. general fund, capital fund). Only the President needs
      to approve them.
   2) Transfers between different functions but within the same fund. The President can approve
      and the Board is advised of the action at the next regular meeting where it is recorded in the
      official minutes.
   3) Transfers between different funds require prior approval of the Board.

The Department of Taxation is notified of these transfers by means of filing the tentative budget, which
contains current year budget revisions.

                                        BUDGET AUGMENTATION
Adjustments to the budget are accomplished through an augmentation process. It requires adoption by
a majority vote of the Board of Directors at a regular meeting to increase appropriations above levels
originally approved and the filing of designated forms with the Nevada Department of Taxation. This
formal resolution procedure adheres to the process prescribed by Nevada Revised Statutes.



                                                      16
READER`S GUIDE TO THE LVCVA BUDGET DOCUMENT

                                              BUDGET CALENDAR

  Nov    Dec      Jan    Feb      Mar       Apr    May      Jun     Jul      Aug     Sept    Oct
  11/1- Finance prepares preliminary revenue estimates and debt service requirements. President
  11/30 approves budgetary guidelines to disseminate to budget teams. Pro-forma statements
        prepared.

                          Budget training and information and goal setting sessions held. Open OLB
                1/2-2/8
                          (OnLine Budget), the computerized budget system to budget preparers. Budget
                          teams prepare tentative budget requests and meet with senior vice presidents to
                          review. Finance prepares salary and benefits budget.


                          2/11- Senior vice presidents review final budget submissions. All
                          2/22 budget submissions must be completed.

                                    2/25- Tentative budget document is prepared for executive review
                                    3/14 process. President, senior vice presidents and others review
                                          budget requests.

                                          3/17- Final draft of proposed budget prepared by Finance.
                                          3/21

                                          3/24      Final draft of proposed budget distributed to executive
                                                    management. All goals, activity measures, prior year
                                                    achievements and any changes to text in budget
                                                    document due to Finance.

                                             3/28         Last day to make changes to tentative budget.

                                                    4/8      Tentative budget and budget augmentation
                                                             presented to the Board of Directors at a public
                                                             hearing.

                                                     4/15 Tentative FY 2009 budget submitted to
                                                          Department of Taxation for compliance review.

                                                          4/28-    Budget to Print Shop for printing and binding.
                                                          5/2

                                                                  5/5     Public notice published.

                                                                  5/15     Public hearing and adoption of the final
                                                                           FY 2009 budget.

                                                                         6/2   Final FY 2009 budget submitted to
                                                                               Department of Taxation.

                                                                                  7/1-   Submission of FY 2009
                                                                                  8/14   budget to GFOA for
                                                                                         budget award.

  Nov     Dec       Jan       Feb      Mar       Apr         May         Jun      Jul      Aug       Sept    Oct



                                                             17
SUMMARY OF ALL FUNDS

                                            FY 2009 BUDGET
                                               ALL FUNDS

                                                               CAPITAL          DEBT
                                            GENERAL           PROJECTS        SERVICE          TOTAL
                                              FUND             FUNDS           FUNDS         ALL FUNDS
 REVENUES:
    Room Taxes and Gaming Fees              225,950,000                -               -     225,950,000
    Use of Facilities                        49,390,400                -               -      49,390,400
    Interest                                  1,950,000          2,525,000       689,000        5,164,000
    Miscellaneous                                 5,000              1,000             -            6,000
 Total Revenues                             277,295,400          2,526,000       689,000     280,510,400

 EXPENDITURES:
       General Government                    10,080,200                -               -      10,080,200
       Marketing                             35,771,500                -               -      35,771,500
       Advertising                           88,626,000                -               -      88,626,000
       Operations                            48,740,200                -               -      48,740,200
       Community Support                     26,665,000                -               -      26,665,000
       Special Events                         8,897,735                -               -        8,897,735
       Other                                    40,000                 -               -          40,000
    Capital Outlay                                   -        271,450,936              -     271,450,936
    Debt Service:
       Principal                                     -                 -      13,340,000      13,340,000
       Interest                                      -                 -      27,018,536      27,018,536
 Total Expenditures                         218,820,635       271,450,936     40,358,536     530,630,107

 Excess (Deficiency) of Revenues
    Over (Under) Expenditures                58,474,765       (268,924,936)   (39,669,536)   (250,119,707)

 OTHER FINANCING SOURCES (USES):
    Operating Transfers In                    2,189,000        14,650,000     58,021,375      74,860,375
    Operating Transfers Out                 (72,671,375)        (1,500,000)     (689,000)     (74,860,375)
    Proceeds from Sale of Debt                       -        255,000,000              -     255,000,000
    Proceeds from Sale of Fixed Assets          15,000                 -               -          15,000
 Total Other Financing Source (Uses)        (70,467,375)      268,150,000     57,332,375     255,015,000

 EXCESS (DEFICIENCY) OF REVENUES
 AND OTHER FINANCING SOURCES OVER (UNDER)
 EXPENDITURES AND OTHER FINANCING USES      (11,992,610)          (774,936)   17,662,839        4,895,293

 RESERVE FOR CONTINGENCY                      2,700,000                -               -        2,700,000

 FUND BALANCE, BEGINNING                     28,750,262        11,824,647     28,261,936      68,836,845


 FUND BALANCE, ENDING                        14,057,652        11,049,711     45,924,775      71,032,138




                                                         18
SUMMARY OF ALL FUNDS

                                        COMPARISON TO PRIOR YEARS
                                            TOTAL - ALL FUNDS

                                                                                        REVISED        PROPOSED
                                         ACTUAL         ACTUAL          ACTUAL          BUDGET          BUDGET
                                          FY 05          FY 06           FY 07           FY 08           FY 09
REVENUES:
   Room Taxes and Gaming Fees           178,201,006     202,050,435     215,205,408    220,925,000     225,950,000
   Use of Facilities                     45,056,355      48,359,639      50,916,320     52,284,800      49,390,400
   Interest                                 2,048,441     3,800,709       5,776,566       6,975,000       5,164,000
   Miscellaneous                              12,215          58,509       155,122            8,500           6,000
Total Revenues                          225,318,017     254,269,292     272,053,416    280,193,300     280,510,400

EXPENDITURES:
      General Government                    4,060,570     7,429,631       7,799,028       9,553,880     10,080,200
      Marketing                          30,226,420      31,990,838      33,079,359     36,099,434      35,771,500
      Advertising                        78,211,817      82,923,473      84,713,300     87,559,000      88,626,000
      Operations                         34,824,213      36,890,096      41,269,630     45,307,771      48,740,200
      Community Support                  21,804,748      24,431,488      24,872,455     27,372,500      26,665,000
      Special Events                        6,948,345     9,816,705      13,543,716     13,733,132        8,897,735
      Other                                       141          3,774             746        40,000          40,000
   Capital Outlay                           6,145,826    47,712,578      31,190,881    222,185,569     271,450,936
   Debt Service:
      Principal                             9,950,000    11,725,000      11,050,000     11,605,000      13,340,000
      Interest                           14,527,555      11,498,269      13,341,084     14,668,351      27,018,536
Total Expenditures                      206,699,635     264,421,852     260,860,199    468,124,637     530,630,107

Excess (Deficiency) of Revenues
   Over (Under) Expenditures             18,618,382     (10,152,560)     11,193,216    (187,931,337)   (250,119,707)

OTHER FINANCING SOURCES (USES)
   Operating Transfers In                46,852,379      79,275,085      62,393,370     65,320,964      74,860,375
   Operating Transfers Out               (46,852,379)   (79,275,085)    (62,393,370)    (65,320,964)    (74,860,375)
   Refunding Escrow                     (128,952,550)            -      (40,796,517)              -              -
   Proceeds of Sale of Debt             118,745,000              -       69,200,000    119,000,000     255,000,000
   Debt Premium                          10,359,037              -        2,051,229               -              -
   Debt Issuance Costs                    (1,815,620)         (2,242)      (323,813)              -              -
   Proceeds from Sale of Fixed Assets         33,046          29,843        70,374          25,000          15,000
Total Other Financing Source (Uses)       (1,631,087)         27,601     30,201,273    119,025,000     255,015,000

EXCESS (DEFICIENCY) OF REVENUES AND OTHER
FINANCING SOURCES OVER (UNDER) EXPENDITURES
AND OTHER FINANCING USES                 16,987,295     (10,124,959)     41,394,490     (68,906,337)      4,895,293

RESERVE FOR CONTINGENCY                           -              -               -        2,135,900       2,700,000

FUND BALANCE, BEGINNING                  91,622,256     108,609,551      98,484,592    139,879,082      68,836,845

FUND BALANCE, ENDING                    108,609,551      98,484,592     139,879,082     68,836,845      71,032,138




                                                         19
SUMMARY OF ALL FUNDS

                                       FUND BALANCE ANALYSIS

Nevada Revised Statutes 354.433 defines Fund Balance as the excess of assets over liabilities in a
governmental fund. Put another way, fund balance represents the net difference between total
financial resources and total appropriated uses. Fund balances provide a financial cushion
against anticipated changes. While changes may occur from year to year, maintaining proper
fund balances over the long term are an important component of sound financial management
and a significant factor in bond ratings.
Fund balances will vary by fund. Total FY 2009 ending fund balance for all funds is projected to be
$71,032,138. This is comprised of: $14 million in the General Fund, $11 million in the Capital Funds,
and $45.9 million in the Debt Service Funds.
General Fund – Beginning fund balance for FY09 is projected to be $28,750,262. Fund balance is
the amount of unencumbered cash that ensures services could be provided for a short time if
commitments exceeded revenues. Because all room tax received in July is accrued back to June
30, 2007, it is already part of ending fund balance. Most facility rental revenue received in July is
earned in June and therefore it, too, is a part of ending fund balance. The first "new" money we
receive is in the middle of August. Therefore, the LVCVA operates for four to six weeks off of
beginning fund balance. This is used to cover expenditures (i.e. payroll, grants and supplies and
services) for at least two to four weeks.
Capital Fund – Fund balance in the capital fund is used as a supplement to capital projects if
necessary. The Master Plan Enhancement Program was approved for a total of $737 million in
February 2006, with an additional $153 million approved in May 2007. The board passed a resolution
allowing for the sale of revenue bonds, commercial paper or other short-term floating rate
securities or any combination thereof in the maximum amount of $822 million with the remainder
($68 million) of the funding from capital reserves. Capital reserves, unless spent, roll each fiscal year
through fund balance, which accounts for fluctuations.
Debt Service – Fund balance in the debt service funds is used as a cushion for timely debt
payments. As part of the long-term financial plan, fund balance in the debt service funds is being
increased from FY 2007 through FY 2009, by transferring funds adequate to amortize both principal
and interest on the commercial paper draws. Since only interest payments are being made, the
funds transferred for principal will accumulate to use for retiring debt or as a contingency for the
enhancement program.




                                                       20
GENERAL FUND SUMMARY

The general fund is the general operating fund of the LVCVA, accounting for most financial resources not
specifically accounted for in another fund. General fund revenues include room taxes and gaming fees, use
of facilities, other fees and charges, and interest earnings. The LVCVA has classified its expenditures by
functions, activities, and organization units (see table on page 9). General fund expenditures are those that are
made in the normal operations of the LVCVA.
                                                                                REVISED        PROPOSED
                                  ACTUAL          ACTUAL         ACTUAL          BUDGET         BUDGET          %
                                   FY 05           FY 06          FY 07          FY 08          FY 09         CHANGE
REVENUES:
 Room Taxes and Gaming Fees      178,201,007     202,050,435    215,205,408     220,925,000    225,950,000          2.3%
 Use of Facilities                42,360,710      44,698,675     45,504,500      47,130,500     46,414,700       (1.5%)
 Other Fees and Charges            2,695,645       3,660,964      5,411,821       5,154,300      2,975,700      (42.3%)
 Interest and Other                1,513,190       2,762,447      2,996,881       2,407,500      1,955,000      (18.8%)
Total Revenues                   224,770,552     253,172,521    269,118,610     275,617,300    277,295,400          0.6%
EXPENDITURES:
 General Government                4,060,570       7,429,631      7,799,028       9,553,880     10,080,200          5.5%
 Marketing                        30,226,420      31,990,838     33,079,359      36,099,434     35,771,500       (0.9%)
 Advertising                      78,211,816      82,923,473     84,713,300      87,559,000     88,626,000          1.2%
 Operations                       34,824,213      36,890,096     41,269,630      45,307,771     48,740,200          7.6%
 Special Events                    6,948,345       9,816,705     13,543,716      13,733,132      8,897,735      (35.2%)
 Grants                           21,804,747      24,431,488     24,872,455      27,372,500     26,665,000       (2.6%)
 Other                                   141           3,774            746          40,000         40,000         0.0%
Total Expenditures               176,076,252     193,486,005    205,278,234     219,665,717    218,820,635       (0.4%)
Excess of Revenues over
   Expenditures                   48,694,300      59,686,516     63,840,375      55,951,583     58,474,765          4.5%
OTHER FINANCING
   SOURCES (USES):
Operating Transfers In:
 Capital Projects Funds              245,367        548,112       1,803,873        750,000       1,500,000      100.0%
 Debt Service Funds                  269,832        512,404        664,903         795,000        689,000       (13.3%)
Operating Transfers Out:
 Capital Projects Funds          (18,932,302)    (54,258,700)   (33,000,000)    (27,374,200)   (14,650,000)     (46.5%)
 Debt Service Funds              (25,677,020)    (23,955,869)   (25,829,289)    (36,401,764)   (58,021,375)      59.4%
Proceeds from Sale
   of Fixed Assets                    33,046         29,843         70,374          25,000         15,000       (40.0%)
Total Other Financing
   Sources (Uses)                (44,061,077)    (77,124,210)   (56,290,139)    (62,205,964)   (70,467,375)      13.3%
Reserve for Contingency                    -             -                -       2,135,900      2,700,000       26.4%
FUND BALANCE, BEGINNING           42,394,778      47,028,001     29,590,307      37,140,543     28,750,262      (22.6%)
FUND BALANCE, ENDING              47,028,001      29,590,307     37,140,543      28,750,262     14,057,652      (51.1%)
Total Capital Outlay               6,145,825      47,712,578     31,190,881     222,185,569    271,450,936       22.2%
Total Full-Time Personnel                  503          513               537            574            574         0.0%




                                                         21
GENERAL FUND SUMMARY

                                                           REVENUES

Revenues for FY 09 total $277.3 million, an increase of $1.7 million over FY 08. The major source of this increase is
attributed to room taxes, which are projected to increase 2%, or $5 million. Gaming fees are expected to
increase slightly at $1,950,000.
Use of facilities revenue represents approximately 17.1% of total revenues. Building usage, which is based on
actual leases confirmed and signed, as well as parking lot rental, is projected to remain flat, primarily due to
the start of construction related to the Master Plan Enhancement Program.
Other fees and charges is expected to decrease 42%. The projected decrease is due to the reduction of in-
kind revenue from special events such as the NBA All-Star weekend in FY 2007 and the Federation International
de Basketball Americas (FIBA) tournament in FY 2008. Interest is expected to decrease due to lower interest
rates on investments.


                                    FY 2009 GENERAL FUND REVENUES


                                                                                     Other*
                                                                                      2%




                                                                                       Use of Facilities
                                                                                           LVCC
                                                                                            17%

                                  Room Taxes
                                     81%




      *Other includes Gaming Fees, Interest/Other and Other Fees and Charges as alone these represent less than 1% of the
      revenue budget


                                                        EXPENDITURES

General fund expenditures are divided into three main categories: salaries and wages, employee benefits, and
services and supplies. Salaries and wages represent 17.4% of total general fund expenditures. Included in this
amount, however, are temporary salaries and overtime of $3,792,700. Employee benefits are 34.5% of regular
salaries budget of $38,087,200.
On a division level, salaries and wages make up 41.6% of the General Government budget and 47% of the
Operations budget. In the Marketing Division, salaries and wages account for only 8.9%, whereas, sales,
advertising, and promotion represent 88.6% of their budget.
Total expenditures are $218,820,635 approximately $800,000 less than the FY 08 budget. The General
Government Division increase is due to an increase in legal fees. The $1 million increase in advertising is related
to enhancing programs in the various market segments. The “What Happens Here, Stays Here” will continue to
lead the ad campaign, supplemented by Your Vegas is Showing. Operations Division expenditures will
increase approximately $3 million due to an increase in utilities costs, insurance premiums, and fully staffing new
positions created in FY 2008. The decrease of $4.8 million in special events is due to not sponsoring the FIBA
tournament and NBA All-Star weekend in FY 2009.


                                                                 22
GENERAL FUND SUMMARY



                                           FY 2009 GENERAL FUND
                                               EXPENDITURES

                                                                     Operations
                                     Advertising                       22%
                                        41%


                                                                          Special Events
                                                                               4%

                                                                         Grants & Other
                                                                              12%
                                                                     General
                                                   Marketing        Government
                                                     16%               5%




                                    OTHER FINANCING SOURCES (USES)
These are usually comprised of operating transfers in (i.e. interest earned in other funds) and transfers out (i.e.
funding for other funds), along with sale of fixed assets. An operating transfer is a legally authorized transfer
from a fund receiving revenue to the fund through which the resources are to be expended.

                                                    FUND BALANCE
It is the policy of the LVCVA to maintain an ending fund balance between 4.0% and 8.3% of budgeted
expenditures. The projected ending fund balance of $14,057,652, which is 6.4%, meets this requirement.

                                                   CAPITAL OUTLAY
Capital outlay includes all projects accounted for in the capital projects and replacement fund (see pages 72-
90) for additional details). The total amount shown includes capital expenditures for furnishings, equipment,
improvements or additions to land and buildings financed by general fund revenues. In each division’s budget
analysis, the amount includes only furnishings and equipment. Two exceptions are: (1) all computer-related
items are accounted for in the Information Technology Department’s (Operations Division) capital budget; and
(2) all building, land and leasehold improvements are coordinated by the Engineering departments
(Operations Division). The FY 2009 transfer is $14,650,000 a 56% decrease from FY 2008. Funding is down due to
capital reserve and building improvements not being funded as heavily as in previous years. Also, due to
Master Plan Enhancement Program activity, other projects are not being completed because of time and
space constraints.

                                       TOTAL FULL-TIME PERSONNEL
No new full positions were requested this fiscal year. This results in the total number of authorized positions to
remain at 574. For additional information concerning personnel allocation, see pages 100-107.




                                                               23
GENERAL FUND SUMMARY

                     FY 2009 EXPENDITURES BY DIVISION


                                                                               Employee
                                                     Salaries &                 Benefits
                                                      Wages                      13%
                                                       40%


             GENERAL GOVERNMENT



                                                                           Services &
                                                                            Supplies
                                                                              47%




    Salaries &
     Wages                    Employee
      47%                      Benefits
                                17%


                                                            OPERATIONS


                          Services &
                           Supplies
                            36%




                                       Advertising
                                                                          Salaries &
                                          71%
                                                                           Wages
                                                                             8%

           MARKETING
                                                                                Employee
                                                                                 Benefits
                                                                                   3%
                                                                  Services &
                                                                   Supplies
                                                                     18%



                                             24
REVENUE

                                                  GENERAL FUND

                                   SOURCES OF PROPOSED REVENUES


                                  Room Taxes
                                     81%


                                                                                         Use of Facilities -
                                                                                              LVCC
                                                                                               16%



                                                                                       Other Fees and
                                                                              Other*      Charges
                                                                               2%            1%



                          *Other includes gaming fees, interest and use of facilities – Cashman Center.




                                           MAJOR REVENUE SOURCES
                                                  1998 - 2007 ACTUAL
                                                2008 - 2009 PROJECTED
  Millions
   240
   220          Charges for Services              Room Taxes

   200
   180

   160

   140
   120
   100
   80

   60
   40
   20

     0
             1998    1999      2000      2001      2002      2003      2004      2005      2006         2007   2008     2009


               Charges for Services include use of facilities revenue for both facilities and other fees and charges.



                                                                25
REVENUE

                                             REVENUE SUMMARY
Total general fund revenues for FY 2009 are $277.3 million, a 1% increase. Revenue components are room
taxes and gaming fees, use of facilities, other fees and charges, and interest and other.

                                                     REVENUES AND           REVISED       PROPOSED
  ACTUAL         ACTUAL         ACTUAL             OTHER FINANCING          BUDGET         BUDGET        %
    FY 05         FY 06          FY 07                  SOURCES               FY 08          FY 09    CHANGE
 178,201,006   202,050,435    215,205,408    Room Taxes & Gaming Fees      220,925,000    225,950,000     2.3%
  42,360,711    44,698,675     45,504,500    Use of Facilities              47,130,500     46,414,700   (1.5%)
   2,695,646     3,660,964      5,411,820    Other Fees and Charges          5,154,300      2,975,700  (42.3%)
   1,513,190     2,762,447      2,996,881    Interest and Other              2,407,500      1,955,000  (18.8%)
 224,770,553   253,172,521    269,118,609    Total Revenues                275,617,300    277,295,400     0.6%
     548,245     1,090,359      2,539,150    Other Financing Sources         1,570,000      2,204,000    40.4%
 225,318,798   254,262,880    271,657,759                                  277,187,300    279,499,400     0.8%




                                      Primary Revenue Trends
       Millions
       250
       200
       150
       100
        50
        -
                   Actual           Actual            Actual      Revised Budget  Proposed
                   FY 05            FY 06             FY 07            FY 08     Budget FY 09

                              Use of Facilities            Room Taxes & Gaming Fees

Room tax revenue is projected to increase slightly 2.3% in anticipation of continued increases in room
inventory and room occupancy rate. Approximately 4,500 hotel rooms are expected to be available next
fiscal year, with the anticipated completion of the Encore at Wynn property accounting for approximately
2,000 of those rooms. Room occupancy rate is projected to remain relatively stable at 89.0%. The most
volatile factor in calculating room taxes is average daily rate (ADR). The taxable ADR is budgeted to
decrease 1.2% from $92.80 to $91.69.

Use of facilities revenue projections are based on actual leases confirmed and signed. The rental income
related to the Las Vegas Convention Center is flat, due to decrease in paid parking and parking lot rental.
An excerpt of rental rates per facility is included in the statistical data section, page 114.

Under other fees and charges, the 42% decrease is due to the loss of in-kind revenue from hosting such
events as Society of Travel Writers in 2006, NBA All-Star Weekend in 2007 and Federation International de
Basketball in 2008.

A ten-year historical revenue schedule is located in the statistical data section (pages 108-109).




                                                      26
REVENUE

                                                  ROOM TAXES

The LVCVA’s primary source of revenues, approximately 81%, is from a tax levied on hotels, motels, and
other lodging establishments throughout Clark County and the incorporated cities therein.              The
incorporated cities are Las Vegas, North Las Vegas, Henderson, Boulder City, and Mesquite. The rate of tax
levied varies from 9% to 11% for resort hotels and 7% to 9% for non-resort hotels depending on the
establishment’s jurisdiction (see page 122 for room tax rate breakdown by jurisdiction). The rate of taxes
can only be increased by action of the Nevada State Legislature.

In general, the tax for resort hotel room rentals will be distributed as follows, beginning July 1, 2007:

                    4% - 5%         LVCVA - General Fund
                    1 5/8%          Clark County School District - Capital Projects
                    0% - 2%         City/County (collecting entities jurisdiction) - General Fund
                    1%              Clark County - County transportation tax
                    3/8%            State of Nevada - Promotion of tourism
The LVCVA’s portion of room tax is generally 1% less on non-resort room rentals.

The total tax on rooms averages approximately 9%. It is projected that the total tax on rooms collected
county-wide will be approximately $420,000,000.

The LVCVA retains only 46% of the total room tax collected in Clark County ($224,000,000 less $29,835,000
which is returned to the entities in the form of grants and collection allocation). Currently, 10% of the total
room and gaming taxes collected for the LVCVA are returned to the county and the cities. The division of
this collection allocation is set forth in an agreement between the various entities and may be designated
by the individual entities for any purpose. The distribution to the county and its incorporated cities is based
upon the governor-certified population figures as prepared by the state demographer. Collection
allocation is discussed further on page 71.




            Projected County-Wide Room Tax                   The remaining 54.4% is split as follows:

                                                             $55,000,000 to collecting jurisdictions

                                                             $47,000,000 to Clark County for transportation
                                                             projects
                                   Other
                                   Entities                  $17,625,000 to the State of Nevada for the
                                    53.8%                    promotion of tourism
                    LVCVA
                                                             $76,375,000 to the Clark County School District for
                     46.2%
                                                             capital project construction

                                                             $25,935,000 to other entities from LVCVA grants
                                                             and collection allocation

                                                             $3,900,000 for Nevada Department of
                                                             Transportation funding




                                                        27
REVENUE

                                              ROOM TAXES (continued)

The table below presents a breakdown of the unrestricted room taxes received from the County and the
incorporated cities. Projected growth in room taxes is 2.3% over the current estimates.

                                       ROOM TAX BY JURISDICTION

                                                                                  REVISED       PROPOSED
                             ACTUAL            ACTUAL              ACTUAL         BUDGET         BUDGET
                              FY 05             FY 06               FY 07          FY 08          FY 09
   Clark County             159,319,174       181,759,541         194,442,571    199,693,700    205,226,000
   Las Vegas                 11,094,369        11,754,615          11,913,846     12,242,800     11,733,800
   North Las Vegas              696,130           653,373             707,710        727,400        704,000
   Henderson                  4,080,814         4,704,029           5,024,084      5,161,000      5,245,700
   Boulder City                 160,384           164,099             161,231        165,000        147,200
   Mesquite                     988,388         1,051,170           1,006,634      1,010,100        943,300
                            176,339,259       200,086,827         213,256,076    219,000,000    224,000,000
   % Change                                          13.5%               6.6%           2.7%           2.3%

                              ACTUAL           ACTUAL              ACTUAL         ACTUAL        PROJECTED
   Calendar Year               2004             2005                2006           2007            2008
   Visitor Volume             37,388,781       38,566,717          38,914,889     39,196,761     39,800,000
   % Growth                          1.3%             3.2%                0.9%           0.7%           1.5%
   Hotel Rooms                   144,917          146,605            145,948        146,372        155,000
   % Growth                          2.7%             1.2%             (0.4%)           0.3%           5.9%
   Occupancy Rate                   88.6%            89.2%              89.7%          90.4%
   Source: Las Vegas Convention and Visitors Authority - Internet Marketing/Research and Finance Departments
   Note: Number of hotel rooms is for all of Clark County.

Most visitors to Las Vegas are unaware that the fabled “Las Vegas Strip” is not within the boundaries of the
incorporated city of Las Vegas. That fact accounts for the disparity in room taxes with 92% of the
budgeted room taxes from Clark County.
The average rate of growth in room tax revenue has been 10% over the past decade. Factors considered
in projecting room taxes are:
           Number of available hotel rooms (see statistical data section page 119)
                There are approximately 148,800 hotel and motel rooms in the county from 317
                properties; 69% of the properties are non-gaming in nature. Not included in the
                148,800 rooms, is the 6,809 timeshare-unit inventory. During FY 2009, an estimated
                6,000 additional rooms are expected to become available.
           Blended occupancy rates (see statistical data section page 120)
                It is a combined rate from the Las Vegas, Mesquite and Laughlin properties,
                which participate in our monthly survey.
           Blended average daily room rate is based upon rates from revenue generating rooms at Las
           Vegas, Mesquite and Laughlin hotel, motel and timeshare properties.
           National and international economic conditions and events.
                Monitor such domestic economic indicators as: consumer and business capital
                spending, unemployment and interest rates, the airline transportation market, crude
                oil prices.
                                                             28
REVENUE

                                              GAMING FEES

Gaming fees are quarterly license fees imposed on operators of games based on the number of table
games and slot machines in operation (see table below). These fees were originally established in 1957
and have remained unchanged. Boulder City does not allow gaming; therefore, no gaming fees.

                                                          Clark County, Cities of North
 QUARTERLY FEE PER GAME OR SLOT MACHINE                   Las Vegas, Henderson, and          City of Las
                                                                   Mesquite                    Vegas
 Casinos having 6 or more games                                       $40.00                     $12.00
 Casinos having 2 to 5 games                                           25.00                       7.50
 Casinos having fewer than 2 games                                     10.00                       3.00
 Slot machines, more than 12 within one establishment                   2.50                       0.75
 Slot machines, fewer than 12 in one establishment                      1.00                       0.25


Historically, gaming fees provide only 1.0% of the total revenue for the LVCVA. Gaming fees are difficult to
predict because of the following factors:

           Constant layout reconfigurations by existing casinos. (Example: removal of gaming tables to
           place slot machines and vice-versa).

           Construction or closure of gaming establishments (includes not only hotel casino properties but
           also neighborhood bars, convenience stores, and other licensed gaming establishments).
Gaming fees are anticipated to remain stable from FY2008 to FY2009.

                                   GAMING FEE BY JURISDICTION

                                                                      REVISED PROPOSED
                                 ACTUAL      ACTUAL       ACTUAL      BUDGET    BUDGET
                                   FY 05       FY 06        FY 07       FY 08     FY 09
            Clark County         1,409,560   1,516,002    1,482,601   1,475,000 1,483,000
            Las Vegas              114,580     111,388      103,509     125,000   104,000
            North Las Vegas        130,610     133,690      119,151     100,000   119,000
            Henderson              152,032     166,362      183,599     175,000   184,000
            Mesquite                54,966      36,166       60,472      50,000    60,000
                                 1,861,748   1,963,608    1,949,332   1,925,000 1,950,000

            % Change                               5.5%      (0.7%)       (1.2%)          1.3%




                                                    29
REVENUE

                                             USE OF FACILITIES

The LVCVA owns and operates two facilities, the Las Vegas Convention Center and Cashman Center.
These facilities are not intended to be self-supporting, but rather to generate visitors to the Las Vegas area.
These visitors, in turn, generate room tax revenues while contributing to the overall economy. Facility
operations are anticipated to generate 15.6% of total revenues. The average rate of growth has been 13%
for the Convention Center and 5.7% for Cashman Center over the past decade. This is attributable to a
heightened emphasis on selling the facilities, raising rental rates, and an increase in the available space at
the Las Vegas Convention Center at various intervals.
                                                                           Use of Facilities revenues are
          CONVENTION CENTER               CASHMAN CENTER                   generated through a variety of
                                                                           rental charges (i.e. halls, meeting
          USE OF            %            USE OF            %               rooms, equipment, and parking
         FACILITIES    INCREASE         FACILITIES     INCREASE            lots, along with concessions and
 1998     13,415,492          1.4%          1,439,034         3.9%         contractor services’ commissions).
 1999    18,190,420        35.6%           1,701,391         18.2%              When the North Hall expansion
 2000    18,981,696         4.3%           1,961,242         15.3%              came on-line, the first full rental
                                                                                year,   FY   1999,   experienced
 2001    22,968,460        21.0%           2,044,647          4.3%
                                                                                considerable growth.
 2002    28,068,973        22.2%           1,712,856        (16.2%)
                                                                                The revenue spikes in Use of
 2003    30,076,198         7.2%           2,063,847         20.5%              Facilities in FY 1999, FY 2002 and
 2004    32,469,177         8.0%           2,158,587          4.6%              FY 2005 are due to holding the
 2005    40,305,355        24.1%           2,055,355         (4.8%)             world’s largest construction show,
                                                                                CONAGG/CON-Expo, in those
 2006    42,583,037         5.7%           2,115,638          2.9%
                                                                                years.
 2007    43,197,430         1.4%           2,307,070          9.0%
2008*    44,766,000         3.6%           2,364,500          2.5%
2009*    44,936,000         0.4%           1,478,700        (37.5%)

Use of Facilities revenues are projected to be $44,936,000 for the Las Vegas Convention Center and
$1,478,700 for Cashman Center.
These projections are based on the following:
           Below are rental rates for the Las Vegas Convention Center (for excerpt, see page
           114). As new clients are obtained and older clients renew agreements, these lease
           agreements will come under the new rates. There are still a few multi-year
           agreements outstanding, which are being honored at the older rates.
                        HISTORY OF RENTAL RATES – LAS VEGAS CONVENTION CENTER
                          5 cents per net square foot                           1959-1988
                         15 cents per net square foot                           1988-1998
                         20 cents per net square foot                           1998-2001
                         25 cents per net square foot                    2002 - June 2009
                         29 cents per net square foot                 Starting July 1, 2009
                         34 cents per net square foot                 Starting July 1, 2012
           Analysis of actual bookings, signed lease agreements and prior experience, such as
           cyclical shows, that hold their meetings and tradeshows every number of pre-
           determined years, or for three to five years consecutively.




                                                       30
REVENUE

                                        OTHER FEES AND CHARGES

Other Fees and Charges are comprised of a variety of revenue sources. The majority is derived from the
independent services that are not directly related to the rental of facilities, but rather services that can be
supplied separately. Examples of such independent services are: conventions using LVCVA registration
personnel or housing services; individuals or companies requesting a photograph or video from the News
Bureau’s extensive library. Also included are revenues from rental and commission agreements,
reimbursements from participating properties in tradeshows, and revenue sharing arrangements.

                                                                                 REVISED PROPOSED
                                       ACTUAL        ACTUAL        ACTUAL        BUDGET     BUDGET
                                         FY 05         FY 06         FY 07         FY 08      FY 09
       Other Fees and Charges          2,695,646     3,660,964     5,411,821     5,154,300  2,975,700
       % Change                                           35.8%         47.8%        (4.8%)    (42.3%)

Historically, Other Fees and Charges account for approximately 1.2% of total revenues. Revenue is
anticipated to decrease due to the lack of in-kind revenue from special events and a decline in business
center rental rates.

                                           INTEREST AND OTHER

Interest and Other is comprised of interest earnings and discounts earned on investments and represents
less than 1% of total revenues. Interest earnings are generated not only from cash balances invested in
government guaranteed securities but are also earned on the room taxes which are collected and
distributed by Clark County. All cash balances are invested daily.

                                                                           REVISED PROPOSED
                                  ACTUAL      ACTUAL         ACTUAL        BUDGET     BUDGET
                                    FY 05       FY 06          FY 07         FY 08      FY 09
            Interest              1,503,055   2,757,487      2,992,187     2,400,000  1,950,000
            % Change                               83.5%           8.5%       (19.8%)    (18.8%)

            Other                    10,135         4,960         4,695         7,500      5,000
            % Change                               (51.1%)        (5.3%)        59.7%     (33.3%)


It is difficult to project interest earnings because of their dependency on the size of the portfolio,
fluctuations in interest rates, and availability of policy-approved securities. For the FY 2009 budget, total
Interest and Other are estimated to be $1,950,000 and $5,000 respectively.

                                       OTHER FINANCING SOURCES

Typically, Other Financing Sources accounts for operating transfers in from other funds (i.e. interest earnings
from the capital replacement and improvement and debt service funds) and sale of fixed assets, but it
can also include proceeds of sale of bonds. For FY 2009, interest earnings from other funds are estimated
to be $2,189,000 and proceeds from the sale of fixed assets are anticipated to be $15,000.




                                                       31
GENERAL GOVERNMENT

The general government function includes the Board of Directors along with the Executive, Human
Resources, and Public Affairs departments. The Executive Department is responsible for the general
administration of the LVCVA and is not only comprised of the offices of the President, Senior Vice
Presidents, but also Internal Audit, Legal Counsel and Board-related activities.



                                          BOARD OF
                                          DIRECTORS
                                          14 members



                                                            LEGAL COUNSEL
                                                                FTE 2



                                          EXECUTIVE
                                            FTE 15




                HUMAN RESOURCES                            PUBLIC AFFAIRS
                     FTE 10                                    FTE 18




                                                32
GENERAL GOVERNMENT




                                                  FY 2009 EXPENDITURES


                                                                                      Executive
                                                                                         48%

                                      Public Affairs
                                          23%




                                                 Human
                                                Resources
                                                                               Board of
                                                   20%
                                                                               Directors
                                                                                  9%


                   * Executive includes the offices of the President, Senior Vice Presidents, Legal, and Internal Audit.




                                   COMPARISON OF ACTUAL TO BUDGET
                                    FY 05 - FY 06 - FY 07 - FY 08 - FY 09
        Millions

  5.0
  4.5
  4.0
  3.5
  3.0
  2.5
  2.0
  1.5
  1.0
  0.5
  0.0
                           Salaries                                 Benefits                         Services & Supplies
                                      Actual FY 05           Actual FY 06            Actual FY 07
                                      Revised FY 08          Proposed FY 09




                                                                    33
GENERAL GOVERNMENT

                                            BUDGET ANALYSIS

                          No new positions have been requested in FY 2009.

Capital item requests (i.e. furniture and equipment) of $53,450 have been made. These requests are
accounted for in the capital improvement and replacement fund (see page 80). Computer-related
items (i.e. computers, printers, software, scanners) are accounted for in Information Technology’s budget
(Operations Division). These requests total $25,000.


                                                                  REVISED      PROPOSED
      ACTUAL       ACTUAL       ACTUAL         EXPENDITURES       BUDGET        BUDGET        %
        FY 05        FY 06       FY 07         BY CATEGORY          FY 08        FY 09     CHANGE
      2,615,061    2,748,635    3,214,096   Salaries & Wages      3,834,800      4,193,600     9.4%
        804,596      884,078    1,000,423   Employee Benefits     1,212,300      1,388,200   14.5%
      2,094,892    3,796,918    3,584,509   Services & Supplies   4,506,780      4,498,400   (0.2%)
      5,514,549    7,429,631    7,799,028                         9,553,880     10,080,200     5.5%
          7,945       63,354       38,957   Capital Outlay           35,200         53,450   51.8%
              34           37          41   Full-time Personnel           45            45     0.0%


The Salaries and Benefits sections show a large increase. This is due to two new positions created during
FY 2008 being funded for the full year of FY 2009, as well as two positions being transferred from the
Marketing Division during FY 2008. Due to lower than anticipated increase in room tax revenue, services
and supplies expenditures are being budgeted conservatively in order to maintain current service levels.

In FY 2006, the Public Relations department was transferred from the Marketing Division and renamed
Public Affairs. FY 2005 totals include Public Affairs for comparative purposes.




                                                     34
GENERAL GOVERNMENT

                                        BOARD OF DIRECTORS
The general government function includes the Board of Directors along with the Executive, Human
Resources, and Public Affairs departments. The Board of Directors is comprised of 14 members
representing Clark County, the incorporated cities within, and various segments of industry. The Board’s
primary function is to formulate policies to guide the LVCVA in fulfilling its mission to attract visitors by
promoting Las Vegas as the world's most desirable destination for leisure and business travel. For additional
information regarding the Board of Directors, such as members and terms of office, see page 3.

                                               EXECUTIVE
The Executive Department is responsible for the general administration of the LVCVA and is not only
comprised of the offices of the President, Senior Vice Presidents and Board-related activities, but also
Internal Audit and Legal Counsel. Executive management meets daily with employees, hotel CEOs,
community leaders, and convention association presidents to discuss any potential problems, as well as
changes in the trends of the travel and convention industries.

Internal Audit is responsible for determining whether organizational units are performing their planning,
accounting, custodial or control activities in compliance with management instructions, applicable
policies and procedures and in a manner consistent with both LVCVA objectives and high standards of
administrative practice.

Legal Counsel meets with other divisions to ensure compliance with local government, state and federal
laws, assists in preparation of proposed legislation, and conducts lobbying activities, acts as general
counsel to the LVCVA Board of Directors, and drafts and approves legal documents (i.e. contracts, bid
proposals).

                                                   GOALS
   Partner with the resort industry to increase visitor volume and room nights while maintaining an
   effective average daily rate. (Executive Management)

   Implement the fourth-year of the of the five-year vision plan. (Executive Management)
   Coordinate all elements of marketing and operations to brand the destination for increased exposure
   and visitor volume. (Executive Management)




                                                     35
GENERAL GOVERNMENT

                                            PUBLIC AFFAIRS

Public Affairs is responsible for a broad spectrum of communication activities with a variety of stakeholders.
The primary goal of the department is to generate positive news coverage of the Las Vegas destination.
The News Bureau operates as part of the department and lends support by providing video and
photography of current and historical events.
The Public Affairs department is also responsible for educating the public about the benefits the LVCVA
provides the community, both directly and indirectly. This department also develops communication
programs designed to keep employees informed of LVCVA activities.
The Public Affairs department continually implements communication plans and strategies to promote
leisure and business travel to the destination.
                                                   GOALS

       Develop new public relations opportunities that increase awareness of the destination in key
       domestic markets.
       Increase the number of public relations placements in the three major international markets:
       United Kingdom, Canada and Mexico.
       Increase international distribution of News Bureau photos by developing relationships with wire
       services overseas and through increased communication with contracted International Offices.
       Develop and implement a strategic community awareness campaign highlighting the 50-year
       anniversary of the Las Vegas Convention Center.
       Launch a password accessible online photo gallery.
       Develop and implement a communication strategy highlighting the enhancement program of the
       Las Vegas Convention Center.

                                            ACTIVITY MEASURES

                                                                    Actual          Est.         Est.
                                                                     FY 07        FY 08        FY 09
        Media inquiries coordinated                                  1,000        1,100        1,220
        News releases generated                                         60           77           85
        Online Press kits page views                                   n/a       28,000       30,800
        News Bureau photos distributed/distributed via wire      20,000/60    26,000/75    28,000/85
        Community displays                                               4            8           10
        Speaking Engagements                                           121          180          200

                                         PRIOR YEAR ACHIEVEMENTS

       Developed News Bureau photo exhibits in conjunction with local libraries, museums and
       organizations.
       Organized and integrated a National Tourism Week public relations campaign to generate local
       awareness of the benefits of tourism and earn press coverage for Las Vegas in key markets.
       Created a successful PowWow media program for more than 200 international travel press.
       Implemented a public relations campaign for LVCVA's culinary event ‘Vegas Uncork'd’.
       Created and standardized a formal speakers bureau for community relations highlighting the
       benefits of the tourism industry.




                                                     36
GENERAL GOVERNMENT

PUBLIC AFFAIRS (continued)

                                  PRIOR YEAR ACHIEVEMENTS (continued)

       Developed and implemented a community awareness campaign recognizing the 25th anniversary
       of Cashman Center.
       Formalized and standardized process and evaluation for international familiarization media tours.
       Created and produced a weekly e-newsletter on local and national economic indicators as well
       as tourism industry trends. E-newsletter is distributed to resort stakeholders throughout the
       destination.




                                         HUMAN RESOURCES

Human Resources is responsible for development, promotion and implementation of Authority–wide
policies and procedures, along with development of various employee and service-oriented programs.
This department provides advice, guidance and support to Authority-wide initiatives, issues, priorities, and
goals, and is not limited to employee services, cultural diversity, and health and wellness.

Services provided include: recruitment, staffing, and employment; learning and professional development;
affirmative action; employee/labor relations, collective bargaining negotiation, contract interpretation;
compensation program administration, including evaluation and classification; administration of salary
and benefit programs; the administration of employment terms and conditions and employee health,
wellness and morale programs.

                                                  GOALS
   Expand the Authority Academy, the LVCVA’s in-house learning and development program, by offering
   on-going professional development opportunities to all LVCVA employees.
   Enhance employee morale with recognition programs, such as the new Brand Vegas Champion, World
   of Thanks and Service Award programs, and the Customer Service Excellence (CSE) program
   managed in cooperation with the Las Vegas Chamber of Commerce.
   Coordinate employee appreciation events such as baseball games, football games, parades, and
   Corporate Challenge support. (Corporate Challenge is patterned after the Olympics and is a healthy
   way for employees to stay active in the community while adding a social component to those who
   want to sit on the sidelines and cheer on their colleagues. It enables teamwork, company pride,
   corporate wellness and unity).
   Improve communication and cooperation with the Service Employees International Union (SEIU) by
   continuing monthly meetings with the Employee Management Relations Committee, comprised of
   union stewards and members of management.
   Enhance the LVCVA’s image by becoming a presence in the Las Vegas community through
   participation in community activities, such as Bring Your Child to Work Day, LV Marathon, and Santa
   Run.




                                                    37
GENERAL GOVERNMENT


HUMAN RESOURCES (continued)

                                             ACTIVITY MEASURES

                                                                        Actual         Est.        Est.
                                                                         FY 07       FY 08       FY 09
      Authority Academy class attendance                                   952         800        1600
      “Coffee with the President” participants                             157         120         150
      Employees processed (promotions, transfers, hiring &                 406         450         450
         separations)
      Applicants processed                                                1912        1900        1700
      Employees participating in Corporate Challenge                       165         180         190
      Community activity participation (number of events)                    7          12          12
      Town Hall Attendees                                                  n/a         500         500


                                         PRIOR YEAR ACHIEVEMENTS
  •     Received the Southern Nevada Human Resources Association’s Best Places to Work (1st Place -
        Government) award.
  •     Designed and facilitated the LVCVA Authority Academy Essential Program that consisted of
        Interviewing Techniques, Coaching and Mentoring, and Conflict Management workshops.
  •     Recognized 82 employees at the Authority Academy Graduation honoring their completion of the
        Foundation and\or Essentials Program.
  •     Continued participation in Corporate Challenge through a steering committee of coaches and
        event coordinators, the Corporate Challenge Extravaganza Event, the Corporate Challenge Kick-
        Off Barbeque, and the Corporate Challenge Celebration.
  •     Sponsored 10 health and fitness fairs and financial seminars.
  •     Published the Center Focus, a weekly Authority-wide employee newsletter, and maintained the
        “Head’s Up!” postings for immediate communication updates. Introduced the new Only
        Vegas…Because of Us quarterly professional employee newsletter publication.
  •     Implemented an online company store for employees to purchase LVCVA logo items.
  •     Held periodic Town Halls to enhance property-wide communication.
  •     Executed an enculturation program to showcase the different disciplines it takes to create the Las
        Vegas brand experience, to demonstrate how “Living the Brand” looks, and to answer questions
        about how the organization functions, creating professional appreciation and staff networks in
        conjunction with the i.d.e.a.s. team.
  •     Launched new employee recognition program created by employees: Brand Vegas Champions.
  •     Enacted voluntary long term care insurance, and pet insurance discounts




                                                      38
MARKETING

The Marketing Division encompasses two main functions responsible for increasing leisure travel visitors and
convention and meetings attendance. These functions are Marketing and Advertising, and Sales and
Services.

                                      MARKETING




    MARKETING and                                                      SALES and
     ADVERTISING                                                        SERVICES




                ADVERTISING        INTERNATIONAL              CONVENTION              DESTINATION                  LEISURE SALES
                   FTE 2                SALES                 CENTER SALES             SERVICES                        FTE 15
                                        FTE 8                    FTE 12                  FTE 10




                                                                                                                                    DIVERSITY
               INTERNET MKTG &                                               CONVENTION                                            MARKETING
                  RESEARCH                                                    SERVICES                                                FTE 4
                                                                                                    REGISTRATION
                     FTE 7                                                      FTE 16                SERVICES
                                             INTERNATIONAL
                                                 OFFICES                                                FTE 4
                                               (contracted)



                SPORTS MARKETING                                        CONVENTION                  CALL CENTER
                      FTE 4                                               SALES                        FTE 24
                                                                          FTE 28




                                                                                                       VISITOR
                                                                                                    INFORMATION
                                                                                                        FTE 18




                                                               39
MARKETING




                                            FY 2009 EXPENDITURES



                                                                             Marketing &
                                                                             Advertising
                               Sales & Services                                 75%
                                     25%




                                COMPARISON OF ACTUAL TO BUDGET
                                 FY 05 - FY 06 - FY 07 - FY 08 - FY 09
         Millions
   100
    90
    80
    70
    60
    50
    40
    30
    20
    10
     0
                    Salaries                      Benefits        Services & Supplies      Advertising
                                  Actual FY 05          Actual FY 06     Actual FY 07
                                  Revised FY 08         Proposed FY 09




                                                             40
MARKETING

                                           BUDGET ANALYSIS
No positions have been requested for fiscal year 2009.

The increase in Salaries and Benefits is due to new positions created during FY 2008 that are being funded
for a full year in FY 2009. Advertising is budgeted at a conservative 1.2% increase. Historically, Advertising
is budgeted with a minimal increase, and then the budget is augmented when excess funds are available.
Augmentation is an increase in appropriations during a fiscal year. Due to lower than anticipated increase
in room tax revenue, services and supplies expenditures are being budgeted conservatively and deferring
some market development related initiatives until the next fiscal year.



                                                                        REVISED      PROPOSED
      ACTUAL         ACTUAL         ACTUAL          EXPENDITURES        BUDGET        BUDGET        %
       FY 05          FY 06           FY 07         BY CATEGORY          FY 08         FY 09     CHANGE
       8,568,573      9,276,044      9,695,994   Salaries & Wages       10,281,800    10,823,400      5.3%
       2,588,727      2,728,114      2,946,690   Employee Benefits       3,265,000     3,464,000      6.1%
      17,615,150     19,986,680     20,436,675   Services & Supplies    22,552,634    21,484,100    (4.7%)
      78,211,815     82,923,473     84,713,300   Advertising            87,559,000    88,626,000      1.2%
     106,984,265    114,914,311    117,792,659                         123,658,434   124,397,500      0.6%
          52,474         49,986        188,252   Capital Outlay             24,825         7,750   (68.8%)
             145            146            150   Full-time Personnel           152           152      0.0%



The Marketing Division’s budget includes $7,750 in capital item requests (i.e. office and visitor information
center furniture, and equipment), which is accounted for in the capital improvement and replacement
fund (see page 80). Computer-related items (i.e. computers, printers, software, scanners) are accounted
for in Information Technology’s budget (Operations Division). These requests total $10,700.




                                                       41
MARKETING

The Marketing Division encompasses two functions responsible for increasing leisure travel visitors and
convention and meetings attendance. These functions are as follows:

                                         Marketing and Advertising
                                         Sales and Services

The Marketing Division has developed the following goals:

           Market the destination by utilizing advertising, sales and special events, supported by
           research, internet programs and marketing/convention services, toward the goal of
           attracting visitors by promoting Las Vegas as the world's most desirable destination for
           leisure and business travel.

           Continue to serve Las Vegas’ traditional market segments while increasing emphasis on
           target markets such as Canada and Mexico, trade show and convention, domestic
           Hispanic, African American and Asian segments, contemporary lifestyle and the gay and
           lesbian markets.




                                                     42
MARKETING

                                   MARKETING and ADVERTISING

The Marketing functions: Advertising, Sports Marketing, and Internet Marketing and Research implement
programs that focus on understanding and reaching new and existing markets while supporting the
functions of Sales and Services.

                                              ADVERTISING

The Advertising Department is charged with promoting Las Vegas and Southern Nevada through a variety
of mediums to the leisure and business traveler. The LVCVA continues to promote Las Vegas as the
premier meeting convention and trade show destination through print and online campaigns.
The sixth series of “Vegas Stories” (What Happens Here, Stays Here) campaign will continue in FY 2009.
New markets and niche segments will receive additional attention. International markets such as Canada,
Mexico and the United Kingdom, will focus consumer advertising efforts using print, television and radio.

                                          SPORTS MARKETING

Las Vegas has become one of the most recognizable brands in the U.S. and arguably the most desirable
destination in the world. The city is now positioned to attract some of the world’s most exciting events. Las
Vegas has played host to events crossing all segments of the sports and entertainment landscape,
including NASCAR and NHRA racing, the National Finals Rodeo and the NBA All-Star Game. In addition,
major artists representing stage, screen and music continue to make Las Vegas a must stop on their annual
tours.

The outlying areas of Mesquite, Primm and Laughlin also continue to host events such as Viva Laughlin,
Primm 300 Off-Road Race, and the Mesquite Long Drive competition. These events continue to draw first-
time visitors to these locations.

Working with Las Vegas Events (LVE), the LVCVA’s positioning of Las Vegas as the event and entertainment
capital of the world, continues to enhance the brand and drive occupancies during traditionally slower
periods of the year.

                                 INTERNET MARKETING & RESEARCH

The Internet Marketing and Research department oversees a broad range of functions that, while diverse
in scope, share the common focus on understanding and exploiting information and technology to
develop and support the LVCVA’s overall marketing strategy. The department’s wide range of research
projects and programs tracks the dynamics of Las Vegas and Southern Nevada, as well as the nationwide
competitive gaming and tourism industries. Among the research programs administered by the
department are monthly executive summaries of tourism and convention indicators, annual visitor profile
studies that track visitor demographics and behaviors, quarterly marketing bulletins, and a variety of
programs to monitor local, national and global travel trends.
The Internet Marketing function includes devising processes and procedures to ensure relevant and timely
web content, responding to web site-related inquiries from the general public, reviewing the performance
of the web sites, and acting as the liaison with the LVCVA’s advertising agency to incorporate appropriate
content into branding and promotional campaigns on the LVCVA’s destination marketing web sites:
VisitLasVegas.com, LVCVA.com, VisitLaughlin.com, VisitMesquite.com and VisitBoulderCity.com.




                                                     43
MARKETING

                          MARKETING and ADVERTISING (continued)

                                                 GOALS
Advertising

   Continue Las Vegas brand and content integration (product placement) program that incorporates
   the Las Vegas brand into popular television programming.
   Continue to build brand presence in international markets – particularly Canada, Mexico, and the
   United Kingdom.
   Continue promotions to support the product and “What Happens Here, Stays Here” campaign.
   Develop new meetings/conventions campaign.
   Develop and produce “What Happens Here, Stays Here” brand campaign for the United Kingdom.
   Launch a Laughlin brand campaign.
   Develop strategic partnerships and sponsorships to support vertical marketing initiatives, including:
   sports, music, dining, entertainment and fashion.
Sports Marketing

   Identify a major entertainment network award program and develop a comprehensive sales and
   marketing plan to attract it to Las Vegas
   Work closely with R&R Partners to develop a comprehensive information package outlining all major
   facilities and their capacities as they relate to made-for-TV programming.
   Continue to expand LVCVA/NBA Europe Live partners particularly in the United Kingdom and during
   the 2008 Olympics.
   Facilitate at least one familiarization trip each to Primm and Mesquite for out of market meeting
   planners/association executives.
    Conduct one luncheon presentation each for Primm and Mesquite to Las Vegas based meeting
    planners/association executives.
Internet Marketing and Research

   Implement new survey software application to improve timeliness of data collection for online survey
   programs.
   Support LVCVA “green” efforts by replacing hard copies of core research publication with electronic
   distribution.
   Develop and launch LGBT section within VisitLasVegas.com to support Diversity Marketing efforts.
   Devise new program to consolidate content management for all LVCVA international web sites.
                                        ACTIVITY MEASURES

                                                                            Actual         Est.         Est.
                                                                             FY 07       FY 08        FY 09
 Sports Marketing
 Event Leads/Bookings                                                       37/102      50/65     55/65
 Leads Generated - Mesquite                                                     50         60        70
 Hospitality programs held                                                      30         30        32
 Number of TV/radio events                                                      20         23        23
 Internet Marketing and Research
 Statistical Reports and Publications produced                                   26        25           26
 Web site visits-combined LVCVA Sites– in millions                                7        7.4          7.8
 Web site page views–combined LVCVA Sites– in millions                         65.2        77          80.9
 Web site referrals-combined LVCVA sites – in millions                          4.6        6.7          7.1


                                                   44
MARKETING

                              MARKETING and ADVERTISING (continued)

                                           PRIOR YEAR ACHIEVEMENTS
Advertising
   Maintained status as the number two brand name in the country according to an independent
   national study.
   Developed mini-campaign to compliment WHHSH (i.e. ‘What Happens Here, Stays Here’) – “Free Will”.
   Launched first major ‘WHHSH’ brand campaign in Mexico.
   Launched new brand campaign for Mesquite – “Escape Momentarily”.
   Launched music and sport initiatives with the following key programs:
              o   Rolling Stone Magazine program - “Tickets”
              o   Madison Square Garden (Year 2) – “Play Louder”
              o   Academy of Country Music Awards sponsorship
              o   ESPN cross-platform strategic partnership
              o   Sports Illustrated program – “Overtime Guaranteed”
   Entered into a strategic partnership with Sony Pictures for the movie “21”.
   Received 4 Las Vegas Advertising Federation ADDY Awards – Fortune Teller, Free Will, Lipstick, Tickets
   and Exhausted (PBR).
Sports Marketing
   Managed the Las Vegas elements of the Federation International de Basketball Americas (FIBA)
   Olympic qualifiers and NBA Europe Live 2007 mission.
   Provided exposure of the Mesquite area to international receptive operators via three major industry
   trade shows.
   Conducted three familiarization tours of Mesquite for motor coach operators, meeting planners, and
   international receptive operators.
   Conducted a three-day dial-a-thon contacting nearly 700 small meeting planners and mailed
   Mesquite information to over 500 of them.
Internet Marketing and Research
   Developed and implemented the Visitor Experience Monitor program.
   Participated in a pilot study group to devise new timely international tourism metrics based on credit
   card data.
   Launched ‘My Vegas’, a social networking web feature and RSVP (Really Simple Vegas Planner),a trip
   planning and itinerary tool.
   Developed and launched promotional micro sites to support “Free Will” and “Your Vegas is Showing”
   campaigns.




                                                       45
MARKETING

                                         SALES and SERVICES

The Marketing functions: Leisure Sales, Diversity Sales, Destination Services, Convention Sales and Services,
and International Sales play an integral role in securing new and maintaining existing business visitors for
the destination. These teams are strategic as well as targeted. They continue to position the Las Vegas
brand to remain “top of mind” with industry professionals and competitive within the international and
domestic leisure, meetings and trade show industries. The distinct yet equally important disciplines support
the LVCVA’s mission to promote Las Vegas as the leading destination for business and leisure travel.

                        LEISURE and DIVERSITY SALES – DESTINATION SERVICES
The LVCVA’s Sales Teams dedicated to Leisure Sales, Diversity Sales and Destination Services promote Las
Vegas to facilitators of leisure and business travel. Utilizing both traditional and new creative to stimulate
booking of travel to Las Vegas, these teams primary responsibilities are to maintain existing business and
create demand for new business for the destination.

The Leisure Sales team’s main objective is to develop creative and targeted programs designed to
motivate domestic and international purchase of travel packages to Las Vegas through wholesalers,
consortiums, airlines, tour operators, online travel agencies and retail travel agencies. Additionally, the
leisure sales staff continues to develop educational programs targeted to sellers of domestic and
international travel for the purpose of keeping them informed on the ever-changing destination’s
amenities and keeping Las Vegas top of mind for sales opportunities.

Diversity Sales aggressively pursues leisure and convention business from the African American, Hispanic
American, Asian American and Lesbian, Gay, Bisexual and Transgender (LGBT) markets. These lucrative
markets represent a full 30% of the total visitor volume to Las Vegas and strategies and tactics that mirror
the LVCVA’s overall marketing programs are in place to command Las Vegas’ share of these segments.

Destination Services staff focus on the logistics of bringing visitors to Las Vegas and Clark County and
ensuring that their experiences are pleasant and memorable. Employees in Marketing Services, Call
Center Operations, Registration Services, and Visitor Information Centers deliver the Las Vegas brand by
assisting with room reservations, providing convention staffing assistance, and offering a myriad of
information about Southern Nevada to more than one million customers while giving administrative
support to the varied sales and marketing activities.

                                                   GOALS
   Develop at least two booking incentive campaigns with Las Vegas’ top producing wholesale
   companies. These campaigns will be designed to motivate travel agents to book vacation packages
   to Las Vegas during need periods. Credit card companies will be solicited to add valued components
   to enhance our marketing efforts. (Leisure Sales)
   Enhance the Vegas Certified travel agency education program by fully automating the process and
   by adding new benefits such as complimentary show tickets, travel agent preferred room rates and
   access to additional commissionable selling opportunities. (Leisure Sales)
   Parnter with various wholesale companies to produce at least 20 product launch events throughout
   the country. These events will provide a selling platform for Las Vegas hotel partners and at each
   product launch we will have a stand-alone Las Vegas seminar room, trade show area and provide a
   destination update. (Leisure Sales)
   Identify untapped business opportunities for the destination and educate meeting planners on doing
   business in Las Vegas through a series of educational events. Joint client outreach programs will be
   created to enhance traditional sales efforts and tap into the rich networks of our diversity marketing
   partners. Special events and marketing opportunities are created to tap into both leisure and business
   opportunities throughout the country as well as with our traditional travel partners and program.
   (Diversity Sales)
                                                     46
MARKETING

SALES and SERVICES (continued)

                                           GOALS (continued)
  Implement the Digital Marketing Center to enable quicker, more timely communications with our hotel
  partners and to provide an electronic system for invitations with a response mechanism for sales
  events. (Destination Services)
  Establish a local Passkey Users Group to develop best practices to more completely integrate LVCVA
  housing service support to the hotel partners. (Call Center)
  Increase the pool of Registration Ambassadors by 8% to meet the increasing demand for convention
  services. (Registration)
  In conjunction with the City of Las Vegas, open a downtown visitor information center on Fremont
  Street. (Vistor Information Centers)
                                          ACTIVITY MEASURES

                                                                     Actual            Est.          Est.
                                                                      FY 07          FY 08         FY 09
LVCVA networking events produced (Leisure Sales)                         41             44            46
Industry specific fams (Leisure Sales)                                   25             28            30
Vegas Certified Travel Agents (Leisure Sales)                         5,497          7,500         8,000
Leads Processed (Marketing Services)                                  3,626          3,516         3,700
MINT (DMAI’s Marketing Information Network Tool) records
         added (Marketing Services)                                   1,015          1,312         1,500
Meetings and conventions supported – (Registration Services)            316            347           360
Total calls managed – (Call Center)                                 224,778        200,130       180,117
Total visitor volume – (Visitor Information Centers)                414,241        348,981       425,000
New diversity initiatives (Diversity Sales)                              42             40            47

                                      PRIOR YEAR ACHIEVEMENTS
  Conducted various travel agent booking incentive programs that resulted in incremental room nights
  sold for the destination. Most noteworthy are the Southwest Vacations Seen and Be Seen BMW SUV
  giveaway that was awarded to an agency in Texas. The US Airways Vacations Scavenger Hunt
  resulting in one agency winning $25,000 worth of air travel and the Continental Airlines Million Mile
  promotion. (Leisure Sales)
  Participated in the 9th Annual Luxury Travel Expo, with over 10,000 attendees, the largest nationwide
  travel agent show in the United States. (Leisure Sales)
  Booked the National Tour Association annual conference that will bring 4,000 tour operators, media
  and suppliers to Las Vegas in 2011. (Leisure Sales)
  Booked and/or is in current negotiations with the nation’s largest emerging market conferences, many
  of which have never met in Las Vegas. These outreach efforts have served to position Las Vegas as a
  destination of choice for the minority and gay and lesbian traveler, with national statistics
  demonstrating that Las Vegas ranks #1 or #2 among these groups. (Diversity Sales)
  Implemented a new database management system providing a greater level of support of the sales,
  research, public affairs and executive team functions. (Marketing Services)
  Increased reservations processed through Laughlin Online service by 6%. (Call Center)
  Scheduled to open a new VIC in Primm re-establishing the LVCVA’s presence at the
  Nevada/California border, assisting the traveling public with information and reservations for the area.
  (Visitor Information Centers)


                                                   47
MARKETING

                                 SALES and SERVICES (continued)

                                   CONVENTION SALES and SERVICES

The Convention Sales, Convention Center Sales and Convention Services teams are directly aligned to
provide the users of the Cashman Center and the Las Vegas Convention Center a superior customer
experience. Convention Sales teams promote Las Vegas to meeting planners and associations. This is
done by creating an environment of trust, care, and communication during all aspects of the trade
show/event sales and services cycle. The Las Vegas Convention and Visitors Authority has established itself
as the world’s leading trade show/event experience provider.

Convention Center Sales brings the art of sales to a new level. Even when looking at a full calendar they
consistently deliver new business to the Las Vegas market place. Through the use of six vertical markets
and a keen eye toward maximizing the use of convention space, this team delivers a diversified base of
business for all of Las Vegas to enjoy.

The Convention Services team at the Las Vegas Convention Center and at Cashman Center continues to
provide the industries bench mark for service standards. Superior customer care leads to years of repeat
business. Committed convention service managers quickly adapt to all challenges that the world’s
leading convention center presents while relishing the fact that our clients are extremely satisfied at the
end of their event.

Convention Sales executives aggressively solicit association, corporate and incentive business for the Las
Vegas hotel community. They secure business through a strategic account management system that
targets vertical markets such as pharmaceutical, insurance & financial services, automotive, union
industries, food & beverage organizations, medical, association management organizations, incentive
houses and technology companies.


                                                   GOALS

   Execute hard-leases for all business at the LVCC through 2011 allowing the LVCC enhancement
   program to conduct construction activities. (Convention Center Sales)
   Deploy formalized attendance promotion programs to grow visitation to future tradeshow events
   through the use of “trade show trade missions”, direct mail, and press events utilizing the magic of the
   Las Vegas brand. (Convention Center Sales)
   Engage clients in timely updates and advocacy programs with one-on-one communication during the
   duration of the Master Plan Enhancement Program. (Convention Center Sales)
   Work with the Clark County Fire and Building Department inspectors to ensure that all clients are aware
   and compliant with policies. (Convention Services)
   Revise the leasing and insurance process to assist the client with compliance of insurance and the
   timely execution of building leases. (Convention Services)
   Increase the number of lead bulletins generated for the Las Vegas hotel community and enhance
   relationships with resort industry partners. (Convention Sales)
   Increase market penetration in targeted vertical markets and integrate a new business marketing
   campaign. (Convention Sales)
   Implement new marketing programs designed to generate business during mid-week and need
   periods. (Convention Sales)
   Enhance electronic marketing efforts. (Convention Sales)




                                                     48
MARKETING

                                SALES and SERVICES (continued)

                                          ACTIVITY MEASURES

                                                                    Actual           Est.          Est.
                                                                     FY 07         FY 08         FY 09
 Convention Center Sales
 International press events/promotions                                    4            4             3
 Convention industry events hosted                                        1            1             0
 Domestic press events/promotions                                         4            4             5
 Attendance promotion campaigns conducted                                 6           15            15
 Client Solicitation Events Attended                                     10           11            20
 Convention Services
 Space blocks processed (LVCC/Cashman)                             318/338       450/400       500/425
 New leases generated (LVCC/Cashman)                               156/323       160/325       165/350
 Revised leases processed (LVCC/Cashman)                           280/132       300/135       325/140
 Booking orders processed (LVCC/Cashman)                           726/361       750/300       750/100
 Conventions/events (LVCC/Cashman)                                  96/257        85/260         90/66
 Convention Sales
 LVCVA networking events produced                                        83           85             90
 Travel industry conventions hosted                                       2            3              3
 Industry events attended                                               219         225             225
 Industry trade shows exhibited                                          28           30             30
 Leads/bookings generated                                       3,158/2,812   3,100/2,80    3,200/2,875
                                                                                       0

                                      PRIOR YEAR ACHIEVEMENTS
  Formalized and deployed an attendance promotion program across a wide range of Las Vegas trade
  show clients. (Convention Center Sales)
  Created long term leasing metrics to identify trade show business qualified to receive a long term lease
  at the LVCC, thus protecting the revenue stream for years to come. (Convention Center Sales)
  Communicated to all LVCC building clients on the Master Plan Enhancement Project and how it
  impacts their shows and provided information for review and discussion. (Convention Services)
  Coordinated 96 conventions and tradeshows at the LVCC and 257 public events, tradeshows, and
  meetings at Cashman Center. Survey results demonstrated a superior level of customer satisfaction.
  (Convention Services)
  Played an active role in numerous MPEP subcommittees, assisting in the overall design and
  functionality of the project. (Convention Services)
  Expanded the Brand through programs designed to increase business travel and increase efficiency in
  sales operations with new policies and procedures. (Convention Sales)
  Developed and deployed a strategic account management program increasing penetration in
  targeted markets. (Convention Sales)
  Aligned regional offices efforts into the strategic account program. (Convention Sales)
  Enhanced sales efforts through the integration of ELVIS - Essential Las Vegas Information System.
  (Convention Sales)
  Increased brand awareness in the electronic community through participation in a series of electronic
  media opportunities such as webinars and virtual tradeshows. (Convention Sales)



                                                   49
MARKETING


                                   SALES and SERVICES (continued)

                                            INTERNATIONAL SALES
The International Brand Strategy and International Sales department were created to develop and
implement a consistent and coherent international brand strategy for Las Vegas. The key strategic
elements of that strategy include:

   •   Expanding the global reach of the Las Vegas brand

   •   Achieving a mix of a regionalization strategy with a country-specific strategy throughout the world

   •   Implement regionalization brand strategy across the European Union, Australia/New
       Zealand/Southeast Asia, South America and Russia/Eastern Europe.

   •   Enhance our country-specific strategy in the major markets of Canada, Mexico and the United
       Kingdom, and the primary markets of Japan and South Korea.

   •   Establish the Las Vegas brand in the emerging markets of China, Russia, India and Brazil.


                                                     GOALS
   Establish measurable sales programs with key performance indicators reported by our international
   offices and managed by our International Sales Department.
   Prioritize budget dollars across regions and in countries based on realistic projections of increased
   visitation to Las Vegas.
   Reallocate budget dollars both in preparation for new global opportunities (proactive), and in
   response to the changing global dynamics impacting tourism (re-active).
   Partner with McCarran Airport to align projected visitor volumes from around the world to airport and
   international airline lift capacity.


As International Brand Strategy did not exist in prior years there are no prior year achievements to list at this
time, except the establishment of the department itself. Performance measures are being transformed to
future measures of productivity.




                                                       50
OPERATIONS

The Operations Division has the overall responsibility for the operation, maintenance and security of the
Las Vegas Convention Center and Cashman Center.              Additional activities are Finance, Purchasing,
Information Technology, Project Development, and Customer Experience.


                                       OPERATIONS




                                                                      FACILITIES



                 SECURITY
                   FTE 39                                            CUSTOMER
                                              CLIENT SERVICES                             ENGINEERING
                                                                     EXPERIENCE
                                                  FTE 126                                   FTE 111
                                                                        FTE 2




                                                                       FINANCE
                                                                         FTE 22
       TRAFFIC              PHYSICAL
        FTE 17              SECURITY
                              FTE 17



                                                                     INFORMATION
                                                                     TECHNOLOGY
                                                                         FTE 15

              PURCHASING




                                                                       PROJECT
                                                                     DEVELOPMENT
                                                                         FTE 7

    PURCHASING         MATERIALS
       FTE 11         MANAGEMENT
                         FTE 10




                                                      51
OPERATIONS


                                         FY 2009 EXPENDITURES

                                                         Client Services
                                                              20%

                                  Project Development
                                           6%



                                        Other*
                                         9%                                        Engineering
                                                                                      43%



                                           Security
                                            14%

                                                          Finance
                                                            8%




          *Other includes ITD, Purchasing, and Customer Experience as those departments, when taken separately,
                                             account for less the 5% of the expenditures.




                             COMPARISON OF ACTUAL TO BUDGET
                              FY 05 - FY 06 - FY 07 - FY 08 - FY 09
        Millions
   25


   20


   15


   10


   5


   0
                     Salaries                               Benefits                      Services & Supplies
                                Actual FY 05            Actual FY 06       Actual FY 07
                                Revised FY 08           Proposed FY 09




                                                            52
OPERATIONS

                                          BUDGET ANALYSIS
No new budget positions have been requested for FY 2009.

Capital item requests (i.e. furniture and equipment) totaled $1,119,000, which is accounted for in the
capital improvement and replacement fund (see page 80-82). All computer-related budget requests (i.e.
computers, printers, software, scanners, and network servers) are accounted for in Information
Technology’s capital budget. Operation’s requests total $269,400; other divisions’ requests total $35,700.


                                                                      REVISED      PROPOSED
      ACTUAL        ACTUAL         ACTUAL         EXPENDITURES        BUDGET        BUDGET        %
       FY 05          FY 06         FY 07         BY CATEGORY          FY 08         FY 09     CHANGE
     17,435,987     18,115,761    20,183,998   Salaries & Wages       20,977,400    22,896,100     9.1%
      5,791,620      6,242,792     6,897,932   Employee Benefits       7,573,300     8,221,800     8.6%
     11,596,602     12,531,543    14,187,700   Services & Supplies    16,757,071    17,622,300     5.2%
     34,824,209     36,890,096    41,269,630                          45,307,771    48,740,200     7.6%
      2,176,395      1,962,742     2,536,075   Capital Outlay          2,280,640     1,119,000  (50.9%)
            324            330           346   Full-time Personnel           377           377     0.0%


Of the services and supplies budget, approximately $8.8 million is devoted to utilities (50%), $1.7 (9.7%)
million is for repair and maintenance and an additional $1.8 million for insurance of the buildings and
equipment. Salaries and Benefits are increasing due to the filling of new positions in FY 2008 which will be
funded for the entire fiscal year 2009. Due to lower than anticipated increase in room tax revenue, the
remaining balance of the services and supplies budget is up slightly from the previous year due to Master
Plan Enhancement Program support.




                                                      53
OPERATIONS


The Operations Division has the overall responsibility for the operation, maintenance and security of the Las
Vegas Convention Center and Cashman Center. Additional activities are Customer Experience, Finance,
Materials Management, Information Technology and Project Development.

To fulfill the LVCVA mission, the following goals have been created:

       Raise the division’s customer service excellence to new levels through the introduction of new
       service initiatives enhancing our visitors’ destination experience.

       Introduce initiatives to promote and implement “Living the Brand” through employee
       development, partner education and stakeholder outreach to ensure a consistent
       understanding and delivery of the LVCVA brand promise.

       Continue to implement processes that enhance our “Housing the Brand” experience including
       Master Plan Enhancement Program communication to event managers and attendees, capital
       projects and implementation of a comprehensive preventative maintenance program.

       Work collaboratively with other LVCVA Divisions to support their mission critical objectives and to
       develop shared goals to improve the overall customer experience.

       Fully develop the LVCVA’s commitment to sustainability including the establishment of green
       operating procedures, increased energy measurement & efficiencies and staff education in LEED
       (Leadership in Energy & Environmental Design) certification.

       Establish a platform of key performance measures to be used to measure the division’s overall
       success at year end.

The Operations Division received the following recognition in FY 2008:
       Government Finance Officers Association – Distinguished Budget Presentation Award - In
       order to receive this award, a governmental unit must publish a budget document that
       meets program criteria as a policy document, an operations guide, a financial plan and a
       communications device. This is the nineteenth consecutive receipt of this award.

       Government Finance Officers Association – Certificate of Achievement for Excellence in
       Financial Reporting – This prestigious national award recognizes conformance with the
       highest standards for the preparation of state and local government financial reports. This
       is the twenty-fifth consecutive receipt of this award.

       National Purchasing Institute – Achievement of Excellence in Public Procurement Award –
       This award recognizes achievement of organizational excellence in public procurement
       by demonstrating excellence in innovation, professionalism, productivity and leadership
       attributes. This is the thirteenth consecutive receipt of this award.




                                                     54
OPERATIONS

                                               FACILITIES

The Vice President of Facilities has direct responsibility for the operation and maintenance of the Las Vegas
Convention Center and Cashman Center. This function oversees the Customer Experience, Client
Services, and Engineering sections.

                                         CUSTOMER EXPERIENCE

The Customer Experience Department was established in 2006 to head-up the LVCVA’s efforts to address
the specific needs of our attendee and exhibitor customer base.

Globally, Customer Experience is responsible for developing programs that deliver the LVCVA’s brand
promise for both the Las Vegas Convention Center and Cashman Center. The brand promise is delivered
to our attendees, exhibitors and show managers when they arrive on site for their event. Examples of
brand promise delivery are clean facilities, reasonably priced food and beverage options, availability of
appropriate business services, availability of up-to-date technology, ease of transportation to and from the
facility, and helpful employees and stakeholders in the facility. Key functions include being a liaison
among various departments in the Operations and Marketing divisions and to establish campus wide
programs and initiatives that will improve our customers’ experience. In particular, direct responsibilities
include delivery of our facility partners’ (i.e. ARAMARK, Smart City Networks, and FedEx Kinko’s) operational
performance and quality of services. Additionally, the department reviews services delivered by our
facility stakeholders such as general service contractors, exhibitor approved contractors, taxi and
transportation companies, etc.

Relative to the Master Plan Enhancement Program, Customer Experience’s role will focus on ensuring that
physical improvements in the Las Vegas Convention Center (LVCC) are reflective of the key services the
attendees and exhibitors need for a successful event. This includes those services and products currently
offered at the LVCC and those that could be offered in the future enhanced facility.

                                                   GOALS
       Improve results of the Customer Experience survey by 5-10% for internal partners, based on year-to-
       year comparisons.

       Formulate a “Brand Promise” presentation and deliver presentation to key stakeholders such as
       internal partners, contractors, union members, and hotels.

       Coordinate the inclusion of specific programs, features, or physical attributes into the planning
       process for the LVCC Master Plan Enhancement that supports a purposeful Customer Experience
       mindset.



                                            ACTIVITY MEASURES

                                                                                 Actual      Est.     Est.
                                                                                  FY 07    FY 08    FY 09
    Signage and wayfinding improvements completed                                  25%      50%      75%
    Customer Experience Survey results (Overall Satisfaction Ratings from 1-5)      4.3      4.4      4.5
    Building partner goals to support the LVCVA                                       3        5        6
    Expansion of Bags to Go/Digital Departure Information locations                   1        2        3
    Community/partner outreach presentations                                         10       20       20



                                                     55
OPERATIONS

                                        FACILITIES (continued)

                                   CUSTOMER EXPERIENCE (continued)

                                        PRIOR YEAR ACHIEVEMENTS
       Implemented a lobby organization plan to provide standards of operation and improved way
       finding.

       Established specific logo’s and brand icons to be used at Cashman Center and the Las Vegas
       Convention Center, in concert with the LVCVA’s advertising agency.

       Monitored and expanded participation for the Attendee Intercept Survey to establish attendees’
       needs and desires for services offered in a convention center setting both today and into the
       future. Information will be used for Master Plan Enhancement purposes and bench marking for
       future improvements.

       Partnered with area resorts to open a Concierge Counter in the Grand Lobby of the LVCC. The
       hotel partners have the ability to sell show tickets and book restaurant reservations for guests.

       The nationally recognized brand of FedEx Kinko’s entered into a five year agreement at the LVCC.
       The number of exclusive services was reduced resulting in a focused business services operation.

       Customer Experience made numerous presentations to exhibitor appointed contractors, labor and
       hotel partners discussing customer experience initiatives and enhancement updates.

       Established a “Green” Team to increase awareness of ongoing initiatives and to identify new ideas
       for conserving resources and encouraging sustainability.



                                 LAS VEGAS CONVENTION CENTER
The Las Vegas Convention Center, located adjacent to the Las Vegas Strip, currently encompasses
approximately 3.2 million square feet with exhibit space of more than 2 million square feet and meeting
space of more than 241,000 square feet. It includes 16 exhibit halls and 170 meeting rooms with seating
capacities from 20 to 7,500. Parking for 5,200 cars is available on-site. See the diagram on page 6.

                                             CLIENT SERVICES
Client Services is responsible for a myriad of daily show and building-related requirements as well as the
overall cleanliness of the facility. These responsibilities include room set-up, production and sporting event
set-up, equipment logistics, response to show manager requirements, restroom cleanliness, and tracking
over $6 million dollars of equipment and supplies.

In order to accomplish these activities, Client Services works closely with other internal departments,
building partners, and contractors to assure our customers’ desired outcome is achieved. This teamwork
and constant communication allows the department to schedule, plan, and allocate the necessary
resources in a timely and efficient manner.




                                                     56
OPERATIONS

                                        FACILITIES (continued)

                                       CLIENT SERIVCES (continued)
                                                   GOALS
       Develop and initiate a departmental certification program, “Service Certified” focused on building
       knowledge to provide customer service and answer frequently asked questions.
       Create and/or update all department policies and procedures to incorporate new initiatives,
       additional accountability, define measurements where applicable and establish training needs.
       Expand the current recycle program in order to capture more commodities, as well as research
       vendors that are capable of receiving food waste. This includes cooperation from our building
       partners.
                                            ACTIVITY MEASURES

                                                                  Actual         Est.        Est.
                                                                   FY 07       FY 08       FY 09
              Recycle Rate                                          13%         50%         55%
              Building Maintenance(% of labor hours used)           23%         27%         28%
              Scheduled Room Changes                                 869       1,200         950
              Restroom Support (% of labor-hours used)              32%         33%         32%
              Work Orders Complete                                   748       1,200       1,400

                                        PRIOR YEAR ACHIEVEMENTS
       Initiated a graveyard shift focused on cleaning and maintaining areas throughout the facility which
       are difficult to service during regular hours. This allowed preparation of the facility for the next
       customer in a more thorough and efficient manner, as well as accomplishing additional off hour
       requirements.
       A permanent recycle solution put in place allowing the LVCVA to maintain an average 50%
       recycle rate for all shows. This program’s primary focus is geared towards dry waste removal for the
       entire building. All waste is sorted off property by our local trash hauler.
       Centralized and structures supply distribution to support both internal and offsite supply requests to
       maximize efficiency. Supply ordering has become automated; thereby making tracking and
       historic usage per event more accurate. By working with the LVCVA’s mailroom the amount of
       labor dedicated to deliveries was decreased
       Increased advertising efforts of recycling initiatives by branding trash compactors and various
       receptacles throughout the facility. “Green” progress information sheets were also created in
       order to keep our customers informed.
       Enhanced entrances and service supplies by replacing all external trash receptacles with more
       modern non-industrial appearing units and converting an additional 5,000 gallons of chemicals to
       environment friendly products.


                                               ENGINEERING
The Engineering section encompasses the activities of heating, ventilation, and air conditioning (HVAC),
plumbing, electrical, carpentry, painting, welding/fleet/folding walls, communications, voice systems,
computerized maintenance management system (1CALL), grounds, and graphics.

The section’s primary objective and responsibility is to maintain and operate all building operating systems
and building components to a level that minimizes customer disruption and supports customers’ needs.
Engineering continuously pursues new technology that improves building efficiencies without
compromising the comfort or quality that today’s customer expects of the Las Vegas Convention Center.


                                                     57
OPERATIONS

                                        FACILITIES (continued)

Engineering staff handles preventative maintenance in all areas, from maintaining 5,800 doors, including
freight doors, and fleet vehicles to resolving HVAC and lighting issues, not only at the Las Vegas
Convention Center, but also in the five outlying visitor information centers.

                                         ENGINEERING (continued)
                                                      GOALS
       By April 1, 2009, implement Maximo 6 upgrade to 1CALL work order system and complete related
       staff training.
       Measure sustainability improvements at LVCC through power monitoring system and building
       system changes identified by the LEED-EB (existing buildings) Certification process.
       Develop and train additional Quality Control staff in building damage assessments. Staff will also
       work with LVCVA Safety Department to insure OSHA standards are met throughout LVCVA
       buildings.
                                            ACTIVITY MEASURES

                                                                               Actual        Est.       Est.
                                                                                FY 07      FY 08      FY 09
 1CALL work orders processed                                                   20,641     28,300     32,000
 Doors maintained/repaired/PM Program (5,200 total)                             1,800      2,000      2,100
 Fleet vehicle and carts repaired/maintained                                      141        145        149
 Bulbs and lamps maintained (275,000 total)                                    35,000     65,000     50,000
 Cable drops and podium sets                                                    1,496      1,523      1,550
 Air Handlers checked and serviced (138 total)                                    110        110        110
 Stand-alone AC Units checked and serviced (60 total)                              48         48         48
 Electrical power panels and disconnects maintained (over 1,500 total)            750        750      1,050
 Walls and ceilings painted (over 1.5 million square feet)                    750,000    825,000    900,000
 900 plumbing fixtures maintained                                                 351        450        540
 892,000 square feet of ceiling components maintained                         446,000    535,200    713,600
 1,088 restroom partition doors and door hooks maintained                         816        979      1,088
 113 bathrooms maintained                                                          73         79         79
 92 freight doors maintained                                                       46         60         73
 1,373 phone lines maintained/monitored                                         1,373      1,373      1,373

                                         PRIOR YEAR ACHIEVEMENTS
       Implemented graveyard shift to handle preventive maintenance by electricians and carpenters.
       Created Director of Facility Projects position to coordinate all requirements of the Capital
       Improvement Plan and capital projects generated by the Master Plan Enhancement Program.
       Installed and activated electrical power monitoring system.
       Installed new voter board and audio system software in the Board Room.
       Improved and standardized signage at LVCC and Cashman Center, including:
           o   Refurbishment of directional kiosks,
           o   Placement of evacuation and Visitor Center signage,
           o   Installation of directional wraps in the Front Plaza/Sawtooth area for North, Central and
               South Halls,
           o   Placement of decorative “Only Vegas” 3-D signage at LVCC 2nd Floor Pre-function and
               Cashman Center Meeting Rooms.


                                                       58
OPERATIONS

                                        FACILITIES (continued)

                                        ENGINEERING (continued)
                                  PRIOR YEAR ACHIEVEMENTS (continued)
       Installed Concierge Desk in LVCC Grand Concourse for use by major hotel properties to provide
       show and dining options to attendees of full-facility user shows.



                                          CASHMAN CENTER
Cashman Center is located on 51 acres near downtown Las Vegas just off the 515 interstate and Las
Vegas Boulevard. This facility provides an outdoor sports stadium that seats 10,000 fans and is home to a
Triple A baseball franchise, the Las Vegas 51s. There is a state-of-the-art theater that will accommodate
1,922 patrons, with seating on the main floor and balcony areas. The campus contains twelve meeting
rooms with approximately 13,000 square feet of space and two exhibit halls with 98,100 square feet of
space for small conventions, seminars, receptions and other events. See the schematic on page 7.

Due to the size of Cashman Center compared to the Las Vegas Convention Center, the Client Services
and Engineering departments have been combined in this narrative. The goals, activity measures and
achievements listed below encompass both of these areas.

                                                   GOALS
       Improve “Housing the Brand” in celebration of Cashman Center’s 25th anniversary.
       Develop and implement a strategic business plan for Cashman Center in support of the budget
       process and five year Capital Improvement Plan.
       Establish two new means of improving and increasing employee communication.


                                            ACTIVITY MEASURES


                                                                             Actual          Est.        Est.
                                                                               FY 07       FY 08       FY 09
Work orders completed/work orders per skilled craftsman                   2,721/272.    3,000/30    3,400/34
                                                                                   1           0           0
Number of energy efficient lighting fixtures converted                           150         115          85
Landscape converted to desert landscaping (square                              3,000       5,000       5,000
feet)
Restroom support (labor hours)                                                12,151      14,000      14,000
Show/Event support (labor hours)                                              10,858      10,400      11,000

                                        PRIOR YEAR ACHIEVEMENTS
       Installed new energy efficient P-TAC heating/cooling units in box offices, theater and ticket office.
       Renovated the scoreboard, including new video display, recording and replay systems, reducing
       energy consumption and improving the baseball fan’s experience.
       Replaced cooling towers, improving energy efficiency and reducing repair costs.




                                                     59
OPERATIONS



                                                   SECURITY

The LVCVA Security Department consists of three sections and over 200 full and part-time staff. The
sections include Security, Traffic and Physical Security. The Security section is responsible for calls for service
within the LVCC and is the only section with a 24/7 presence at Cashman. In addition, the Security section
is responsible for administration of the nursing/first aid program, K9 unit, and executive protection.

The Traffic section consists of bike officers, perimeter security and traffic control. Perimeter Security is a
relatively new component that monitors freight areas and assists in ensuring all vehicular traffic coming on
property is authorized. Traffic control includes parking and generates revenue for the organization. The
bike officers respond to calls for service all around the exterior of both the LVCC and Cashman.

The Physical Security section consists of the control center staff, the safety office, investigators and life
systems. The section is responsible for monitoring and maintaining all technologies utilized by the
department to ensure the facility and all occupants are safe. Technologies include surveillance, fire
systems and access control.

Over the past several years, Security has added additional bike officers, a K9 unit, initiated the perimeter
program, and restructured to combine safety and the control center under a single section. Over the next
several years the department intends to expand the perimeter program and utilize additional
technologies gained in the Master Plan Enhancement Program to help in the early detection of potential
hazards and/or threats.

                                                      GOALS
       Introduce new initiatives focusing on elevating customer experience as it relates to security, traffic
       and physical security.
       Establish a platform of key performance measures to determine the departments overall success at
       year end.
       Provide leadership training to Security’s front line supervisors and contracted security companies.


                                              ACTIVITY MEASURES

                                                                     Actual        Est.        Est.
                                                                      FY 07      FY 08       FY 09
                Floor plans reviewed (LVCC & CC)                      1,612        960       1,200
                Traffic violation notices                             3,959      2,900       3,000
                Fire/Safety violations given (LVCC & CC)              3,020      3,600       2,800
                Incident reports taken                                  970        800         800
                Special event hours worked                            2,517      1,964       1,500




                                                        60
OPERATIONS

                                     SECURITY (continued)

                                     PRIOR YEAR ACHIEVEMENTS
    Developed and rolled out of the Perimeter Security Program with forty-five part time employees.
    This new component monitors freight areas and assists in ensuring all vehicular traffic coming on
    property is authorized.
    Redesigned Cashman Center parking lot “C,” by relocating Executive parking, LVCVA vehicle
    parking area, taxi/limousine drop/pickup area, by designating employee parking area and LV 51’s
    season ticket and sponsor parking.
    Introduced a pilot program that reduced contract security guards at selected freight doors.
    Rolled out of the LVCVA Health, Environmental and Safety Risk Management Guide (HES) to all
    employees. Also developed monthly safety/risk assessments per department, monthly safety “Tips”
    and monthly safety executive reports.
    Increased camera surveillance by over 100% at Cashman Center. New areas added were the
    parking lots, stadium plaza and vehicle entry points to the facility.
    Produced the 16th Annual Tourism Safety Conference.
    The Traffic Section instituted a selective traffic enforcement program throughout the LVCC
    campus. This initiative increased focus on reducing traffic violations and improving overall safety as
    our other strategies had not been successful in curbing the problem.
    Initiated a campus-wide post-show inspection, a comprehensive visual inspection of the facility
    immediately following the move-out of a show.




                                                  61
OPERATIONS

                                        PROJECT DEVELOPMENT

Project Development is responsible for overseeing all construction projects from conceptual design
through the permitting, construction, commissioning and final acceptance process. This department
coordinates the work of the architects, engineers and construction firms for projects ranging from minor
renovations and demolition projects to implementing the Master Plan Enhancement Program (MPEP).

The Project Development department is dedicated to making the Las Vegas Convention Center the best
convention center in the world. To achieve this, Project Development personnel work with other LVCVA
departments in order to identify strategic capital improvement projects for both facilities.

                                                     GOALS

       Complete the Convention Center Area Command (Metro) by November 1, 2008.
       Place steel order for the North-South Connector and Desert Inn Building by August 1, 2008 to stop
       escalation on steel pricing and to facilitate early delivery of structural steel to the project sites by
       April 1, 2009.
       Start construction of North-South Connector and Desert Inn Building by January 1, 2009.
       Relocate administrative offices beginning January 1, 2009.


                                             ACTIVITY MEASURES

                                                                             Actual            Est.          Est.
                                                                              FY 07          FY 08         FY 09
MPEP Design and Construction plan packages reviewed and
       approved                                                                  n/a            15            25
Construction pay applications reviewed and submitted                             n/a           121           175
Involvement, support, and management of projects at LVCC
       and/or Cashman Center                                                      29            35            29


                                         PRIOR YEAR ACHIEVEMENTS

       Installed web cam on the South Hall to view the on-going construction of the Convention Center
       Area Command (Metro). Web access was provided with support from Security and ITD.
       Proposed and designed building utilization and prepared drawings and layouts to be utilized in re-
       locating administrative office moves related to the Master Plan Enhancement Program.
       In conjunction with the Contracts department, negotiated terms and formed a group of local
       architects from various firms to facilitate the design of individual Master Plan Enhancement
       Program projects, as well as, the construction documents related to their field of expertise.
       Facilitated and developed, with input from customers, the utilization design of recently acquired
       buildings and vacant land.
       Contracted and began ongoing construction audit services. Prepared and tracked responses and
       implemented recommendations made by the auditors.
       Created and maintained a Master Plan Enhancement Program Progress Report, tracking individual
       projects and detailed dollars spent on over 42 projects within the MPEP and related capital
       projects.




                                                       62
OPERATIONS

                                                 FINANCE

The mission of the Finance Department is to allocate the LVCVA’s financial resources in accordance with
applicable policies and laws, to safeguard the LVCVA’s assets, and to provide accurate and timely
financial information and assistance. The Finance Department maintains a general accounting system for
the LVCVA to ensure accountability in compliance with legal provisions and in accordance with generally
accepted accounting principles. Finance is comprised of Financial Resources, Financial Systems,
Accounting, Payroll, Transportation and Record Management activities.
Financial Resources is responsible for cash management, debt management, capital assets and
investment of the LVCVA’s funds within the guidelines of Nevada Revised Statutes and the LVCVA’s
investment policy. Additional responsibilities include preparation of the LVCVA’s comprehensive annual
financial report (CAFR). The travel function oversees all travel arrangements for LVCVA staff, FAMs, and
contest winners.
Financial Systems section oversees the preparation of the annual budget, the grant program, the LVCVA
records management program and supports all computerized financial systems (accounting, payroll, time
& attendance, and imaging). Payroll is primarily responsible for processing the LVCVA’s bi-weekly payroll
for over 500 full-time employees and over 400 intermittent and temporary employees. Additional duties
include payment of voluntary and involuntary deductions, bonus programs, federal/state taxes, and
retirement contributions.

The Accounting section is responsible for the general ledger, accounts payable, accounts receivable,
monthly budget, encumbrances, and project accounting posting. Over 2,200 line items are monitored to
ensure proper posting of journal entries, cash receipts, revenue, client invoices, budget transfers, purchase
orders, and invoices. The Accounting section processes regularly submitted expense reports for local,
national and international charges from over 60 employees. With the ever-expanding international
market, familiarity with various world currencies is required. The comprehensive accounting software
system is a major responsibility for this section. Additional duties include preparing and posting of the
month-end financial information on the intranet for use by the executive and management staff.
                                                   GOALS
   Develop and introduce a new pro-active means of communication by June 30, 2009.

   Execute at least two initiatives to improve current services or new service levels that provide
   effectiveness, timeliness or efficiency of service.

   Develop a new initiative that will contribute to the improved quality of financial decision-making.

   Develop and introduce at least two additional guidance aids and/or assistance programs that support
   other departments in meeting their goals.




                                                     63
OPERATIONS

                                       FINANCE (continued)

                                          ACTIVITY MEASURES

                                                                       Actual         Est.       Est.
                                                                        FY 07       FY 08      FY 09
 Years received budget/CAFR receipt of GFOA Awards                      18/24       19/25     20/26
                                                                                             91%/60
 Full time/part time employees participating in direct deposit            n/a    90%/56%           %
 Percent of vendors receiving payment by EFT                              n/a        11%        15%
 Maintain the LVCVA’s uninsured bond rating at Aa3 (Moody’s)
          ad A+ (S&P)                                                 Aa3/A+      Aa3/A+     Aa3/A+
 Conduct at least 8 vulnerability assessments each quarter               N/A          20         32
 Maintain a rate of return on investments at no more than 50 basis
          points below the 6-month T-bill                               -3 bp      +25 bp    +25 bp
 Forecast annual room taxes within a 5% accuracy                         .06%         .5%        5%
 Number of calendar days to close year-end (not to exceed 45)              41          45        45
 Number of calendar days to complete audit and produce CAFR
          (not to exceed 65)                                               62          65        65
 Number of months that G/L was closed within 8 business days             n/a           10        11
 Staff turnover rate (not to exceed 10%)                                 14%          18%       10%
 Maintain a minimum debt service coverage ratio of 3.0                   7.84          6.0       5.0



                                      PRIOR YEAR ACHIEVEMENTS

  Received the Certificate of Achievement for Excellence in Financial Reporting award from the
  Government Finance Officers Association for the 25th consecutive year.
  Received the Distinguished Budget Presentation award from the Government Finance Officers
  Association for the 19th consecutive year.
  Obtained an unqualified opinion on the annual audit.
  Created a five-year strategic business plan for the Finance department, complete with performance
  measures.
  Developed improved financial reporting tools, including My Revenue, Popular Annual Financial Report,
  quarterly investment report and Room Tax Update.
  Built a staff development plan, including defined career paths and plans of actions, for every member
  of Finance.




                                                   64
OPERATIONS

                                               PURCHASING
Purchasing and Materials Management are the main components making up the Purchasing Department
under the Operations Division. It is with great pride that this team fosters the requirements of all
procurement within the Authority, under local, county and state regulations. Our goal is to cultivate
knowledge and necessity while promoting internal and external customer service to meet inter-
department goals and objectives.

Purchasing works closely with all areas of the LVCVA in determining the proper quantities and quality of
materials and supplies necessary to perform all functions. Following legal requirements, purchases which
exceed an annual cost of $25,000 are put out to bid, promoting fair and open competition. Purchases
between $10,000 and $25,000 are solicited to a minimum of two suppliers in accordance with state law.
Bids are routinely sought on purchases below this amount in order to conserve public funds, as well as
obtain the best product for the lowest possible price.

Purchasing is also responsible for the administration of contracts. Our commitment includes negotiating,
managing, and presiding over all contracts while monitoring deliverables, mediating, and assisting in
dispute resolution, and conducting performance evaluations. Additionally, this area maintains insurance
documentation to ensure proper requirements are satisfied and generates weekly and monthly status
reports to review expiring contracts, audits pro-card transactions, and provides status updates on
professional service agreements.

Materials Management is made up of three support areas: mailroom, copy center and distribution center.

The mailroom is responsible for processing all outbound domestic and international mail and packages.
Multiple times each day, mail is distributed throughout the Las Vegas Convention Center and twice daily
to Cashman Center. Package and mail processing functions include U.S. mail processing, package and
document shipping and daily deliveries internally and to local Las Vegas valley customers. On an “as-
needed” basis, the mailroom will hand deliver Board of Director directives and post public records in
designated areas throughout Las Vegas.

Notorious for setting the standard in customer service, the copy center provides a variety of services,
including large volume print jobs, duplication, color copies, binding, lamination, folding, drilling, stapling,
and typesetting. Output production includes items such as the Annual Budget, the Comprehensive
Annual Financial Report, the News Bureau Linage/Entertainment Report and other documentation
supporting the LVCVA’s mission.

The distribution center is responsible for managing all brochures, promotional items and selected support
materials. The principal objective is to act as a distribution center while processing package and bulk
shipments worldwide. Responsibilities include receipt, storage, order filling, inventory management, surplus
property management, and international and domestic shipping. The brochure room which operates as a
fulfillment center for brochure requests worldwide is also part of the distribution centers operations.

                                                    GOALS
   Raise the awareness of the importance of a diverse supplier base by raising the participation levels of
   discretionary dollars from last year’s levels by 2%.
   Raise the department’s customer service levels by introducing at least two new customer service
   initiatives.
   Establish at least one program to instill and reinforce the LVCVA Core Values (loyalty, integrity, trust,
   excellence, and respect) to our employees throughout the department.




                                                      65
OPERATIONS



                                      PURCHASING (continued)

                                            ACTIVITY MEASURES

                                                                       Actual      Est.        Est.
                                                                        FY 07    FY 08       FY 09
 Manage services & supplies budget so that actual annual
         expenditures are within 95% of original appropriations. Yes / 91%         Yes         Yes
 Annual temporary and overtime expenditures are within 95% of
         original budget.                                        Yes / 83%        Yes          Yes
 Years received Achievement of Excellence in Public Procurement          12        13           14
 Diversity participation (% of dollars spent)                           17%       20%          22%
 Annual contract percentage of total spent                              41%       42%          42%
 Number of contract action items completed per Full Time
         Equivalent                                                     n/a        392         410
 Dollar amount of purchase orders per FTE (in millions)                  3.6       3.9          4.1
 Outbound packages per FTE                                              1,731    1,800       1,800
 Copy Center copies produced per FTE (in thousands)                       764      800         800
 Distribution Center requisitions filled per FTE                        1,829    1,900       1,900
 Distribution Center brochure requests filled per FTE (in thousands)      110      115         115


                                        PRIOR YEAR ACHIEVEMENTS
  Conducted first ever CMAR (Contract Management At Risk) delivery method for three Master Plan
  Enhancement Projects.
  Increased minority/woman-owned participation by at least 3%.
  Reviewed processes and completed desk manuals for approximately 50% of Purchasing staff.
  Established an inventory system for Client Services complete with inventory controls, reporting and
  distribution accountability.
  Set-up property control system with Engineering at Cashman Center to support accountability of
  materials used by the department.




                                                     66
OPERATIONS

                                    INFORMATION TECHNOLOGY

The Information Technology Department (ITD) functions as the LVCVA’s technology support element. ITD
has committed to advancing the LVCVA’s goals and objectives in a fiscally responsible manner through
continuous innovation, leadership and guidance while improving service quality and applying necessary
technical skills. Our mission will be accomplished through the focused and dedicated efforts of our
Administrative, Support Services, Systems Maintenance and Software Development teams.

Responsibilities include: maintaining all LVCVA hardware, software, networks and systems; developing new
support tools, automation systems, databases and applications; establishing automation policies and
procedures; Help Desk operations; and identifying cost-effective technology applications.

                                                     GOALS
   Develop Employee News Network (ENN) system, available on touch screen plasmas in break rooms.
   Develop and implement infrastructure to support off-site administration facilities.
   Convert existing security programs to a new fully integrated system.
   Support MPEP technology.

                                            ACTIVITY MEASURES

                                                                  Actual         Est.        Est.
                                                                   FY 07       FY 08      FY 09
              In-House Training Cost Savings (dollars)            240,00     183,000     200,00
                                                                        0                      0
              Server availability (%)                             99.75%     99.80%      99.90%
              Call completion time (avg. hours)                      13.2       25.3        15.0
              Call resolution time (avg. hours)                       3.5        7.9         4.0
              Call testing/delay time (avg. hours)                    3.9        7.8         4.2


                                        PRIOR YEAR ACHIEVEMENTS
   Completed company-wide migration from Novell to Microsoft platform.

   Implemented Customer Relationship Management (ELVIS) system for Marketing Division.

   Implemented new mobile applications; room setup and facility work order processing

   Leased and installed 400 new PCs and 40 laptops configured with Microsoft’s new Vista Operating
   System, updating LVCVA technology.

   Completed MPEP construction team-site utilizing SharePoint software.




                                                      67
SPECIAL EVENTS


                                           FY 2009 EXPENDITURES

                              Special Events -
                                   LVE
                                   68%




                                                                          Special Events -
                                                                             LVCVA
                                                                               22%


                                                   Salaries &
                                                    Benefits
                                                      10%




                                 COMPARISON OF ACTUAL TO BUDGET
                                  FY 05 - FY 06 - FY 07 - FY 08 - FY 09
          Millions
    8.0

    7.0

    6.0

    5.0

    4.0

    3.0

    2.0

    1.0
    0.0
                     Salaries & Benefits           Special Events - LVE             Special Events - LVCVA
                                   Actual FY 05       Actual FY 06        Actual FY 07
                                   Revised FY 08      Proposed FY 09




                                                         68
SPECIAL EVENTS

                                          BUDGET ANALYSIS
In FY 2009, the decrease of $1.1 million in Special Events–LVE, is due to Las Vegas Events sponsoring some
events from a portion of the earnings they have built up over the years. The decrease in Special Events–
LVCVA is due to not sponsoring a large scale event such as the NBA All-Star Weekend (FY07) and



                                                                     REVISED    PROPOSED
    ACTUAL       ACTUAL       ACTUAL          EXPENDITURES            BUDGET     BUDGET       %
      FY 05        FY 06       FY 07          BY CATEGORY              FY 08       FY 09   CHANGE
      718,445      793,823      837,561 Salaries & Benefits - LVE       871,381    921,755     5.8%
    6,229,901    7,547,882    6,937,584 Special Events - LVE          7,319,751  6,117,980  (16.4%)
           -     1,475,000    5,768,571 Special Events - LVCVA        5,542,000  1,858,000  (66.5%)
    6,948,346    9,816,705   13,543,716                              13,733,132  8,897,735  (35.2%)

Federation International de Basketball Americas (FY08).



                                           SPECIAL EVENTS
Throughout the years, the LVCVA has sponsored and promoted special events by grants and sponsorships.
The LVCVA has been instrumental in bringing many inaugural events and securing repeat performances to
Las Vegas and Clark County.

Prior to fiscal year 2000, special events were funded by a 5/8 of one percent portion of the restricted room
tax. It was redirected to the school district for school construction by the legislature. Room taxes and use
of facilities revenues now provide funding for these grants. These developments have resulted in
guidelines regarding special event funding with items such as media exposure, visitor volume, and
incremental room nights generated being more heavily reviewed. Also, special events that promote the
brand of Las Vegas as well as targeting key visitor demographics are critical when determining event
levels of funding.

In 1983, the LVCVA began partnering with Las Vegas Events Inc. (LVE) to promote and encourage special
events that will in turn stimulate tourism, and provide media exposure for Southern Nevada. Events
sponsored range from rodeo (i.e. National Finals Rodeo) to golf (i.e. Mesquite Long Drive Championship)
and from auto races (i.e. Laughlin Desert Challenge Off Road Race, NHRA Drag Races) to music events
(i.e. Las Vegas City of Lights Jazz Festival).
In FY07, special events sponsored directly by the LVCVA were transferred into this section from the
community support/grants section.




                                                    69
GRANTS & OTHER


                                  FY 2009 EXPENDITURES




                                                             Grants &
                                                              Other
                          Collection
                                                               15%
                          Allocation
                              85%




                        COMPARISON OF ACTUAL TO BUDGET
                         FY 05 - FY 06 - FY 07 - FY 08 - FY 09
        Millions
   25


   20


   15


   10


   5


   0
                   Collection Allocation                            Grants
                          Actual FY 05     Actual FY 06     Actual FY 07
                          Revised FY 08    Proposed FY 09




                                              70
GRANTS & OTHER

                                              BUDGET ANALYSIS
There have never been any positions or capital outlay budgeted for this section.
Collection allocation increases proportionally with room taxes, as it is based on a percentage of the
amount of room taxes and gaming fees collected.
The FY 2009 “Grants” category funding level decrease is due to Destination Capital Improvement Funding
program.
Reserve for contingency contains funding not only for contingencies but also to fund payroll related items:
new positions, authorized but unfilled positions, retirements, education benefits and self-funded insurance
premiums. In FY 2009, a large number of retirements are expected due employees taking advantage of
Public Employees Benefits Program (PEBP), a health insurance program for retirees. During the 2007
Legislative Session, Senate Bill 544 was introduced limiting participation in PEBP for non-state employees to
those who retire prior to September 1, 2008. No new positions were requested during the budget process.
                                                      EXPENDITURES         REVISED      PROPOSED
    ACTUAL        ACTUAL        ACTUAL             BY CATEGORY AND         BUDGET         BUDGET         %
     FY 05         FY 06         FY 07        OTHER FINANCING SOURCES       FY 08          FY 09       CHANGE
    17,820,101    20,205,044    21,520,541   Collection Allocation         22,892,500     22,595,000     (1.3%)
     3,984,646     4,226,444     3,351,915   Grants                         4,480,000      4,070,000     (9.2%)
           141         3,774           746   Other                             40,000         40,000       0.0%
    21,804,888    24,435,262    24,873,202                                 27,412,500     26,705,000     (2.6%)
    44,609,321    78,214,569    58,829,289   Other Financing Uses          63,775,964     72,671,375      13.9%
           -             -             -     Reserve for Contingency        2,135,900      2,700,000      26.4%
    66,414,209   102,649,831    83,702,491                                 93,324,364    102,076,375       9.4%


                                              GRANTS & OTHER
Historically, the LVCVA has always supported the community through recreational and promotional grants.
Presently, 10% of the total room taxes and gaming fees collected are returned to the county and the
cities. The division of this collection allocation is set forth in an agreement between the various entities and
may be designated by the individual entities for any purpose. The distribution to the county and its
incorporated cities is mainly based upon the governor-certified population figures as prepared by the
state demographer. The newly adopted agreement maintained the reimbursement allocation up to the
level as paid in FY 2007 (“Baseline”). Reimbursement above the baseline will be paid to the entity that
collected the increase. The reimbursement formula will be phased in over the next five years.
Recreation grants are granted to Clark County and the incorporated cities within. These funds are
intended exclusively to develop, improve and enhance the recreational facilities within Clark County.

Funds awarded under the Tourism Destination and Event Grant Program are to be used to develop,
promote and increase tourism to and within Clark County, Nevada. Eligible entities include Clark County,
the incorporated cities within and the non-profit chambers of commerce, including those that represent
nationalities, ethnicities and cultures in Clark County. Projects eligible for funding include special event
staging and promotional materials.

Reserve for contingency contains funding for payroll suspense, retirements, education benefits, self
insurance premiums and contingency. Payroll suspense is used to fund new positions and unfilled
authorized positions. If any new positions are requested, they are discussed in the personnel allocation
section and included in the full-time personnel count in each division’s proposed budget. If approved,
funds are transferred to the divisions’ salary and benefits accounts through the regular budget transfer
process as the new employees are hired.
“Other Financing Uses” is comprised of operating transfers out which represents appropriations for capital
outlay and debt service as discussed in the following capital fund and debt service fund sections.



                                                         71
CAPITAL PROJECTS FUNDS SUMMARY

The capital projects funds are used to account for the acquisition of capital assets and the construction of
new facilities or improvements. For FY 09, the LVCVA will have three capital project funds: Capital
Improvement and Replacement Fund, Extraordinary Repair, Maintenance, and Improvement Fund, and
the Master Plan Enhancement Program Fund. Each of these funds is discussed on the following pages.
The schedule below includes all capital project funds.

                                                                           REVISED            PROPOSED
                                   ACTUAL             ACTUAL               BUDGET              BUDGET          %
                                    FY 06              FY 07                 FY 08              FY 09        CHANGE
REVENUES:
 Interest                      $       530,818    $     2,119,476      $     3,780,000    $     2,525,000      (33%)
 M iscellaneous                         53,549           150,427                 1,000              1,000           0%
 Proceeds from Debt Issuance                -          31,000,000          119,000,000        255,000,000      114%
   Total Revenues                      584,367         33,269,903          122,781,000        257,526,000      110%

EXPENDITURES:
 Leasehold Improvements                     -                  1,468                 -             18,000      100%
 Land & Improvements               35,916,487           6,203,419            2,099,743          2,453,500          17%
 Buildings                          1,441,461           1,097,986            3,601,298          1,418,200      (61%)
 Capital Improvement
   Program                                  -              16,370            7,526,630          4,250,000      (44%)
 Construction in
   Progress                         8,278,549          20,710,412          206,617,233        261,631,036          27%
 Furniture & Equipment
   Executive                            63,354             38,957               22,500             53,450      138%
   M arketing                           49,985           188,252                37,525              7,750      (79%)
   Operations                       1,962,742           2,536,075            2,280,640          1,119,000      (51%)
   Debt Issuance Costs                      -            397,941                     -           500,000       100%
   Total Expenditures              47,712,578          31,190,881          222,185,569        271,450,936          22%

Excess (Deficiency) of Revenues Over
 (Under) Expenditures              (47,128,211)         2,079,023          (99,404,569)       (13,924,936)     (86%)

OTHER FINANCING
 SOURCES (USES):
 Operating Transfers In            54,258,700          33,000,000           27,374,200         14,650,000      (46%)
 Operating Transfers Out             (548,112)         (1,803,873)            (750,000)        (1,500,000)     100%
 Total Other Financing
   Source (Uses)                   53,710,588          31,196,127           26,624,200         13,150,000      (51%)

EXCESS (DEFICIENCY) OF REVENUES AND
 OTHER FINANCING SOURCES OVER (UNDER)
 EXPENDITURES AND OTHER FINANCING
 SOURCES                            6,582,377          33,275,149          (72,780,369)          (774,936)     (99%)

FUND BALANCE,
   BEGINNING                       44,747,490          51,329,867           84,605,016         11,824,647      (86%)

FUND BALANCE,
   ENDING                      $   51,329,867     $    84,605,016      $    11,824,647    $    11,049,711          (7%)




                                                         72
CAPITAL IMPROVEMENT AND REPLACEMENT FUND

The Capital Improvement and Replacement Fund is used to account for capital expenditures for furniture,
equipment, construction work-in-progress, land, buildings, and improvements to land, buildings and
leaseholds.
In FY 2002, capital assets became depreciable per GASB Statement 34’s “Basic Financial Statements and
Management’s Discussion and Analysis for State and Local Governments.” This means that the LVCVA
allocates the cost of tangible property over a period of time, rather than expensing the entire cost in one
year. Generally, at the end of an asset’s useful life, the net value of the asset (original cost less
accumulated depreciation) will equal the salvage value of the asset.
The requirement for maintaining controls over fixed assets is found in the Nevada Revised Statutes and
Nevada Administrative Code. The latter spells out the following inventory guidelines:
   (1) The governing body of every local government shall take an inventory at least once every two
       years of all its equipment and other personal property that constitute fixed assets.
   (2) Each item of property subject to the inventory must be assigned an identifying number and be
       labeled as belonging to the local government.

CAPITALIZATION THRESHOLD
Nevada Administrative Code 354.750 sets guidelines for the establishment of capitalization thresholds by
resolution. This same code requires that every local government perform an inventory every two years.
The LVCVA established a three-level system for determining the cost at which items should be classified as
a capital asset. Each of these categories assumes the following: the item is generally tangible in nature
(computer software is the major exception); the item has a useful life greater than one year; the item is not
a repair part or supply item; and the original cost is greater than the capitalization threshold.
       High Risk: $500 – An item meeting two or more of the following criteria: easily convertible
       to personal use or cash; easily removed from LVCVA property without detection; or not
       assigned to any individual. Examples: computers, tools, cameras, vacuums.

       Low Risk: $3,000 - An item meeting two or more of the following criteria: specialized
       equipment not easily convertible to personal use or cash; not easily removed from LVCVA
       property without detection; or under departmental inventory control. Examples: trucks,
       carts, permanent sound equipment.

       No Risk: $20,000 – Defined as those assets that are not moveable. No risk assets would
       include land and buildings.

       Bulk Inventory Assets: Exceptions to the capitalization threshold are made for bulk
       inventory purchases.     Typical bulk purchases include tables and chairs, podiums,
       barricades, trash receptacles and amplifiers. While individually costing less than $500,
       these items will be combined and capitalized as a group of assets.

BUDGET PROCESS
Planning for capital acquisitions is a continuous process throughout the year. Individual employees
originate proposals for acquiring new and replacement equipment and furniture. If the supervisor agrees
with the proposal, it is added to the section’s capital requests.
During the budget process, each organizational unit submits its requests to acquire equipment and
furniture. These requests must be justified as replacements for existing items that have failed or become
obsolete or as new acquisitions that will enhance and improve the efficiency and/or effectiveness of the
LVCVA’s operations. All requests are reviewed and discussed during the executive budget review process.
The acquisitions that survive this process are consolidated into the final budget. Some are moved to
subsequent years for future consideration.


                                                     73
CAPITAL IMPROVEMENT AND REPLACEMENT FUND

BUDGET PROCESS (continued)
Factors that can influence an increase or decrease in the land and building improvement accounts are:
           As the Las Vegas Convention Center is expanded, the older parts of the facility are
           updated and modernized.
           Due to the number of shows and events using the exhibit halls and meeting rooms,
           projects must wait for an open time frame before proceeding.
           Implementation of segments of the long-term master plan.
           National and international events, such as economic downturns, can determine if
           capital improvement projects will be deferred until future years.

The LVCVA uses the construction work–in-progress account to fund various on-site improvements that have
been on the drawing board, in some cases for years.
Capital land and building improvement project requests have a similar, although more involved, budget
process. The capital improvement program is described on page 77.
These expenditures are funded from current operations.

IMPACT ON GENERAL FUND
Capital projects can have an impact on the LVCVA’s operating budget in several ways. Costs impacted
by acquiring or replacing equipment and constructing additional exhibit space include required personnel
levels, maintenance expenses and utility charges. Some of the capital projects are multi-year programs,
and the fiscal impact can be spread across many fiscal years.
Building and land improvements are listed on pages 77-79. Included is a description of the project and any
quantifiable impacts on the general fund.
The majority of the furniture/fixtures and equipment purchases are for replacement due to damage,
obsolescence or theft. When repairing damaged equipment is no longer cost-effective, it is replaced.
However, depending on the type of equipment, many departments cannibalize damaged equipment for
parts, thereby reducing repair costs.

BUDGET ANALYSIS
Capital projects and purchases are funded with a transfer to the Capital Improvement and Replacement
Fund from the operating budget. The FY 2009 transfer is $14,650,000, a 46% decrease from the FY 2008
revised budget.
The decrease capital fund is due to fewer capital reserves being funded. As we begin construction of the
MPEP, other projects are not being completed because of time and space constraints.
The construction in progress account is the LVCVA’s pay-as-you–go capital plan for funding expansion and
land acquisition, for FY 2009 it will receive additional funding of $4.3 million.
A summarized capital building and land improvement listing is included. It is followed by a description of
major projects and impacts on the general fund. A capital furniture and equipment listing by
organizational unit is also featured.




                                                   74
CAPITAL IMPROVEMENT AND REPLACEMENT FUND

                           CAPITAL IMPROVEMENT AND REPLACEMENT FUND

                                                                      REVISED            PROPOSED
                                 ACTUAL             ACTUAL            BUDGET              BUDGET          %
                                  FY 06              FY 07             FY 08               FY 09        CHANGE
REVENUES:
 Interest                    $      469,770     $    1,803,873    $      750,000     $     1,500,000      100%
 Miscellaneous                       53,549              2,671             1,000               1,000          0%
   Total Revenues                   523,319          1,806,544           751,000           1,501,000      100%

EXPENDITURES:
 Leasehold Improvements                   -              1,468                 -             18,000       100%
 Land & Improvements             35,916,487          6,203,419         2,099,743           2,453,500          17%
 Buildings                        1,441,461          1,097,986         3,601,298           1,418,200      (61%)
 Capital Improvement
   Program                                -            16,370          7,526,630           4,250,000      (44%)
 Construction in
   Progress                       8,278,549          1,414,552        81,117,233           5,000,000      (94%)
 Furniture & Equipment
   General Government                63,354            38,957             22,500             53,450       138%
   Marketing                         49,985           188,252             37,525               7,750      (79%)
   Operations                     1,962,742          2,536,075         2,280,640           1,119,000      (51%)
   Total Expenditures            47,712,578         11,497,080        96,685,569          14,319,900      (85%)

Excess (Deficiency) of
 Revenues Over
 (Under) Expenditures            (47,189,259)       (9,690,536)       (95,934,569)       (12,818,900)     (87%)

OTHER FINANCING
 SOURCES (USES):
 Operating Transfers In          54,258,700         33,000,000        27,374,200          14,650,000      (46%)
 Operating Transfers Out           (548,112)        (1,803,873)         (750,000)         (1,500,000)     100%
 Total Other Financing
   Source (Uses)                 53,710,588         31,196,127        26,624,200          13,150,000      (51%)

EXCESS (DEFICIENCY) OF REVENUES AND
 OTHER FINANCING SOURCES OVER (UNDER)
 EXPENDITURES AND OTHER
 FINANCING SOURCES                6,521,329         21,505,591        (69,310,369)          331,100      (100%)

FUND BALANCE,
   BEGINNING                     43,312,844         49,834,173        71,339,764           2,029,395      (97%)

FUND BALANCE,
   ENDING                    $   49,834,173     $   71,339,764    $    2,029,395     $     2,360,495          16%




                                                        75
CAPITAL IMPROVEMENT AND REPLACEMENT FUND

The summary below represents capital projects and purchases by organizational unit. A more detailed
listing follows it.


                                   EXPENDITURE SUMMARY

        IMPROVEMENTS
        Building Improvements                                                       $1,418,200
        Land and Land Improvements                                                   1,453,500
        Capital Improvement Program                                                  4,250,000
        Leasehold Improvements                                                          18,000

        FURNITURE /FIXTURES & EQUIPMENT
        General Government
          Executive                                                                        750
          Public Affairs                                                                15,300
          Human Resources                                                               37,400

        Marketing
          Visitor Information Centers                                                    7,750

        Operations
          Facilities
             Client Services – LVCC                                                    140,300
             Client Services – CC                                                       13,000
             Communications                                                             31,000
             Engineering – LVCC                                                        119,900
             Engineering – CC                                                            5,000
             Grounds – LVCC                                                             17,400
          Security
             Security – LVCC                                                            18,100
             Physical Security                                                          86,700
             Traffic                                                                    33,600
          Information Technology                                                       547,500
             Computer Requests from other departments*
               Engineering                                                               4,500
               Executive                                                                20,000
               Finance                                                                  51,000
               Physical Security                                                         1,000
               Public Affairs                                                            5,000
               Purchasing                                                               10,600
               Research                                                                 10,000
               Security                                                                  2,500
               Traffic                                                                   1,200
               Visitor Information Center                                                  700
                                                                                    $8,319,900




                                                  76
CAPITAL IMPROVEMENT AND REPLACEMENT FUND

CONVENTION CENTER

BUILDING IMPROVEMENTS
Building improvements include such projects as additions, expansions or renovations to current buildings,
and upgrades or replacements of equipment attached to the buildings. Projects numbers flow from year
to year which allows us better tracking of the entire cost of a project.
                                                                                               BUDGET
                                                                                               FY 2009
00000.09.001    Access Control (Cambridge Warehouse)                                            $  12,000
00000.09.002    Air Conditioning Unit (Carpenter Shop)                                             10,000
00000.09.003    Awnings & Power Receptacles                                                         3,200
00000.09.004    Capital Building Enhancements                                                     500,000
00000.09.005    Concourse Door Replacement (C-5 Hall)                                              56,000
00000.09.006    Emergency Generator Replacement (Central Hall)                                     75,000
00000.09.007    Service Hallway Door Replacement (Communications)                                  10,500
                                                                                                $ 666,700

LAND IMPROVEMENTS
Land improvements are defined as land attachments of a permanent nature, other than buildings and
include such items as roads, bridges, tunnels, walks, parking lots, etc.

00000.09.008    Blue Lot Fencing                                                                $   50,000
00000.09.009    Protective Bollards (S-2)                                                           15,000
                                                                                                $   65,000




                                    MAJOR PROJECTS FOR FY 2009

EMERGENCY GENERATOR REPLACEMENT (CENTRAL HALL) – Current generator is worn out and inadequate
for future needs. It is over 35 years old and repairs are more costly than replacement.

DOOR REPLACEMENT (CENTRAL HALL) – Bank of doors are being replaced to increase energy efficiency.
These doors have exceeded life expectancy due to high traffic through the area.

PARKING LOT FENCING – Fencing will keep unauthorized persons from walking thru parking lot and looking
into vehicles, it will also guide people to crosswalks.

BUILDING ENHANCEMENTS – Given the small window of opportunity to begin projects between major
shows, this project line item is used to fund the beginning of projects that may be completed in
subsequent years.


                                   IMPACT ON OPERATING BUDGET
The various building improvements are anticipated to reduce repair and maintenance costs and increase
energy efficiency. Not all improvements have a direct and quantifiable effect on the budget.

               Replace Doors – Replacement will assist in reducing the heating and cooling costs
               in the building.
               Replace Generator – The new generator will reduce repair costs.

                                                    77
CAPITAL IMPROVEMENT AND REPLACEMENT FUND


CASHMAN CENTER

BUILDING IMPROVEMENTS
Building improvements include such projects as additions, expansions or renovations to current buildings,
and upgrades or replacements of equipment attached to the buildings.

                                                                                                BUDGET
                                                                                                FY 2009
00000.09.011     Call Center Carpet Replacement                                                   $ 50,000
00000.08.039     Central Plant Chillers                                                            150,000
00000.08.066     Diamond Plate (Exhibit Halls)                                                      15,000
00000.09.012     Exhibit Hall Corridor Carpet Replacement                                           75,000
00000.09.013     Re-Lamp Exhibit Hall A&B                                                            6,500
00000.09.014     Roofing Repairs (Exhibit Halls/Meeting Rooms)                                     200,000
00000.08.041     Concrete Repair (Stadium)                                                         180,000
00000.09.015     Water Main Line Replacement                                                        75,000
                                                                                                 $ 751,500

LAND IMPROVEMENTS
Land improvements are defined as land attachments of a permanent nature, other than buildings and
include such items as roads, bridges, tunnels, walks, parking lots, etc.

00000.09.016     Aluminum Parking Lots Signs                                                     $    3,500
00000.06.093     Baseball Field Renovation                                                        1,200,000
00000.09.017     Landscape Conversion (East Plaza)                                                   35,000
00000.08.046     Landscape Conversion (Parking Lot B)                                                35,000
00000.09.018     Ballards (Parking Lot C)                                                            50,000
00000.08.047     Reseal (Parking Lot C)                                                              30,000
00000.09.019     Lighting Re-Lamp (Stadium)                                                          35,000
                                                                                                 $1,388,500




                                    MAJOR PROJECTS FOR FY 2009

CENTRAL PLANT CHILLERS – New chillers are environmentally friendly, more reliable, and more energy
efficient.
ROOFING REPAIR – Repair roof to support a large event, United States Bowling Congress, which will be in the
building for over six months. Full roof replacement not scheduled until FY2014.

BASEBALL FIELD RENOVATION – The playing surface is over 15 years old with poor soil and drainage
conditions. A new field will provide the Las Vegas 51's with major league-like playing conditions.

CONCRETE REPAIR - STADIUM – The existing concrete is cracked and spaulding has occurred. To ensure
the safety of guests and further damage, concrete needs to be repaired.

SPEAKER REPLACEMENT – The current system is original to the facility, over 25 years old. New technology will
greatly increase quality and coverage thus enhancing the customer’s experience.


                                                    78
CAPITAL IMPROVEMENT AND REPLACEMENT FUND



CASHMAN CENTER - continued

                                   IMPACT ON OPERATING BUDGET
The various building improvements are anticipated to reduce repair and maintenance costs and increase
energy efficiency. The various land improvements are anticipated to reduce repair and maintenance
costs. Not all improvements have a direct and quantifiable effect on the budget.

               Replace Central Plant Chillers – Energy efficiency and saving on utility cost is an
               obvious reward in replacing this dated system.
               Landscape Conversion – Conversion in both the East Plaza and Parking Lot B with
               new drought tolerant landscape will result in reductions in water usage and cost.
               Additionally, it will reduce damage to concrete areas due to water run-off.




LEASEHOLD IMPROVEMENTS
A lease is a contractual understanding between a lessor and a lessee that grants the lessee the right to
use specific property, owned by the lessor for a specific period of time in return for stipulated, and
generally periodic, cash payments. Long-term leases such as those that involve office space ordinarily
provide that any improvements made to the leased property revert to the lessor at the end of the life of
the lease.

                                                                                                BUDGET
                                                                                                FY 2009
00000.09.020     Canopy Replacement (Laughlin Vic)                                               $    8,000
00000.09.021     Counter Installation (Primm Vic)                                                    10,000
                                                                                                 $   18,000




Projects numbers listed the previous three pages encompass a range of projects from FY 2006 to FY 2009.
This includes projects that have expenses in prior years but also funding in the new budget year as well as
projects which have been canceled in prior years and received funding in the new budget year. This flow
from year to year which allows us better tracking of the entire cost of a project.




                                                    79
CAPITAL IMPROVEMENT AND REPLACEMENT FUND

CAPITAL FURNITURE AND EQUIPMENT LISTING

                                                                            FURNITURE/
                                                                                FIXTURE         EQUIPMENT
  GENERAL GOVERNMENT
     EXECUTIVE
        10200.09.001   Digital Transcription Machine (Legal)                                    $      750
                                                                                                       750
     PUBLIC AFFAIRS
        10300.09.001   Conference Table & Chairs                            $       10,000
        10300.09.002   Storage Lockers                                                    600
        10300.09.003   Nikon Camera Bodies                                                            4,000
        10300.09.004   Roller Cutting Board                                                            700
                                                                                    10,600            4,700
     HUMAN RESOURCES
        10500.09.001   Application Carrels                                           4,000
        10500.09.002   Award Display Case                                            1,700
        10500.09.003   Conference Room Table & Chairs                                3,900
        10500.09.004   VP Office Conference Table & Chairs                           3,900
        10500.09.005   Lateral File Cabinets (2)                                     1,600
        10500.09.006   Mobile Training Tables (14)                                   5,400
        10500.09.007   Training Room Chairs (50)                                     9,200
        10500.09.008   Ceiling-mount Electric Screen                                                  1,200
        10500.09.009   Event Staging                                                                  3,500
        10500.09.010   LCD Projector                                                                  3,000
                                                                                    29,700            7,700
  MARKETING
     TOURISM
        LAUGHLIN REGIONAL SALES OFFICE
        33950.09.01    Electric Typewriter                                                750
                                                                                          750
     MARKETING SERVICES
        PRIMM VISITORS INFORMATION CENTER
        34230.09.001   Meeting Table & Chairs                                        2,000
        34230.09.002   Shelving & Brochure Rack                                      5,000
                                                                                     7,000
  OPERATIONS
     INFORMATION TECHNOLOGY
        21000.08.001   Chairs (Training Room)                                        4,000
        21000.09.001   Modular Furniture (Telecommunications)                        5,000
        21000.09.002   Audit Automation Software                                                     20,000
        21000.09.003   Back-up Solutions                                                             50,000
        21000.09.004   Barcode Scanner/Printers (Carpenter)                                           4,500
        21000.09.005   Contact Management Software Customization                                     80,000
        21000.09.006   Directional Signage Content                                                   25,000
        21000.09.007   Documentum Software (Finance)                                                 25,000
        21000.09.008   High Volume OCR Scanner (Purchasing)                                           7,000
        21000.09.009   HP Laser Printer (Primm VIC)                                                    700
        21000.07.004   Kiosk and Enclosures                                                          60,000
        21000.09.010   Laptop Computers (Public Affairs)                                              5,000
        21000.09.011   Minority Supplier Searchable Database (Purchasing)                             3,600



                                                           80
CAPITAL IMPROVEMENT AND REPLACEMENT FUND

CAPITAL FURNITURE AND EQUIPMENT LISTING (continued)

                                                                                      FURNITURE/
                                                                                       FIXTURE      EQUIPMENT
   OPERATIONS (continued)
      INFORMATION TECHNOLOGY
         21000.09.012       PC/Laptop Leasing                                                           156,000
         21000.09.013       Printer/Copier (Traffic)                                                      1,200
         21000.09.014       Qualtrics Survey Software (Research)                                         10,000
         21000.09.015       Security Surveillance System (Primm VIC)                                      2,500
         21000.09.016       Server Hardware Upgrades                                                     15,000
         21000.09.017       Sharepoint Portal                                                            60,000
         21000.09.018       Software Licenses/Upgrades                                                   22,500
         21000.07.040       Software Modifications (Finance)                                             20,000
         21000.09.019       Spare Components                                                             20,000
         21000.05.021       Time & Attendance Software Customization                                      6,000
         21000.09.020       Touch Screen Plasmas                                                         50,000
         21000.09.021       Wide Screen Flat Panel Monitors (2) (Physical Security)                       1,000
                                                                                            9,000       645,000
      CLIENT SERVICES - LVCC
         55020.07.010       Air Movers (10)                                                               1,700
         55020.09.001       Barricades (150)                                                             30,000
         55020.09.002       Carpet Extraction Tools (2)                                                  10,800
         55020.09.003       Easels (200)                                                                 16,900
         55020.09.004       Handheld Blowers (6)                                                          1,200
         55020.09.005       High-speed Burnisher (2)                                                      2,200
         55020.09.006       Ride On Carpet Cleaner                                                       12,600
         55020.09.007       Rotary Scrubber/Buffer                                                        4,200
         55020.09.008       Stair Sets & Skirting                                                        36,000
         55020.09.009       Trailer Mount Pressure Washer                                                14,300
         55020.09.010       Upright Vacuums (15)                                                          7,200
         55020.09.011       Wet/Dry Vacuum                                                                3,200
                                                                                                        140,300
      ENGINEERING
         55041.09.001       Chevrolet Truck                                                              36,600
         55041.09.002       Electric Cart (ITD)                                                          10,000
         55041.09.003       Electric Cart (Public Affairs)                                               10,000
         55041.09.004       Electric Carts                                                               20,000
         55041.09.005       Electric Chain Hoist                                                          1,200
         55041.09.006       Gas-Powered Carts                                                            20,000
         55041.09.007       Generators (2)                                                                4,500
         55041.09.008       Oil Filter Crusher                                                            1,100
         55041.09.009       Panel Saw                                                                     2,500
         55041.09.010       Pressure Washer (HVAC)                                                        1,200
         55041.09.011       Robinair Cooltech (Fleet)                                                     3,000
         55041.09.012       Robinair ID Plus Cooltech (Fleet)                                             1,300
         55041.09.013       Tools (Carpenter)                                                             3,500
         55041.09.014       Tools (Fleet)                                                                 5,000
                                                                                                        119,900




                                                                81
CAPITAL IMPROVEMENT AND REPLACEMENT FUND

CAPITAL FURNITURE AND EQUIPMENT LISTING (continued)

                                                                            FURNITURE/
                                                                             FIXTURE       EQUIPMENT
   OPERATIONS (continued)
      COMMUNICATIONS
         55043.09.001       Handheld Radios (51)                                                31,000
                                                                                                31,000
      GROUNDS MAINTENANCE
         55046.09.001       Backpack Blower                                                       700
         55046.09.002       Equipment Trailer                                                    1,700
         55046.09.003       Maxicom Site Controller (Blue Lot)                                   8,000
         55046.09.004       Trailer Mounted 150-Gallon Sprayer                                   7,000
                                                                                                17,400
      SECURITY
         55057.08.004       Canine Transport (Modifications)                                     3,700
         55057.09.001       Wall Mounted Defibrillators (12)                                    14,400
                                                                                                18,100
      PHYSICAL SECURITY
         55058.09.001       Security Information Stations (5)                      5,000
         55058.09.002       Security Information Station Chairs (8)                1,600
         55058.09.003       Carbon Monoxide Tester                                               2,100
         55058.09.004       Duct Detectors                                                      35,000
         55058.09.005       Fire Extinguishers (100)                                             5,000
         55058.09.006       Fire Rack Hose (100)                                                 8,500
         55058.09.007       Heat Stress Monitors (2)                                             2,500
         55058.09.008       Saflok MT Key Cards                                                 27,000
                                                                                   6,600        80,100
      TRAFFIC
         55059.09.001       Office Furniture - Traffic Field Supervisor            4,000
         55059.09.002       Wardrobe Cabinets (12)                                 2,700
         55059.09.003       Bicycle Racks (9)                                                    2,600
         55059.09.004       Bicycles (3)                                                         3,000
         55059.09.005       Parking Lot Emergency Cellular Telephones (3)                       18,000
         55059.09.006       Portable Propane Heaters (3)                                         3,300
                                                                                   6,700        26,900
      CLIENT SERVICES - CC
         55220.09.001       Ride On Carpet Cleaner                                              13,000
                                                                                                13,000
      ENGINEERING -
      CC
         55241.09.001       Tools                                                                5,000
                                                                                                 5,000




                                                                   82
MASTER PLAN ENHANCEMENT PROGRAM FUND

In February 2006, the LVCVA was given board approval in the amount of $737 million for the enhancement
of the Las Vegas Convention Center. In May 2007 the board approved an increase of $153 million. The
enhancement includes construction of a Las Vegas Metropolitan Police (LVMPD) substation, fire station
and connecting the existing buildings, adding meeting rooms, and upgrading building and technology
systems at the LVCC.
The Master Plan Enhancement Program (MPEP) fund is used to account for the proceeds of the
commercial paper issue and all construction related costs. The funding of the plan includes the usage of
$68 million in cash reserves and the debt issuance of $822 million via the issuance of commercial paper.
Construction began in late 2007 with the Metropolitan Police Station. The North/South Connector and the
South Hall Meeting Rooms are in the design phase and construction should begin in the latter part of 2008.
In 2011 the renovation project is expected to be completed; thus ending the Master Plan Enhancement
Program.
The construction budget for FY 2009 is as follows:




                                                               REVISED            PROPOSED
                                         ACTUAL                BUDGET              BUDGET          %
                                          FY 07                 FY 08               FY 09        CHANGE
    REVENUES:
     Interest                        $      235,261        $     3,000,000    $      1,000,000     (67%)
     Other                                  147,757                      -                  -          0%
     Proceeds from Debt                  31,000,000            119,000,000         255,000,000     114%
       Total Revenues                    31,383,017            122,000,000         256,000,000     110%

    EXPENDITURES:
     Debt Issuance                          397,941                      -            500,000      100%
     Construction in Progress            19,295,860            125,500,000         255,000,000     103%
       Total Expenditures                19,693,801            125,500,000         255,500,000     104%

    Excess (Deficiency) of
     Revenues Over
    (Under) Expenditures                 11,689,216             (3,500,000)           500,000     (114%)

    FUND BALANCE,
       BEGINNING                                  -             11,689,216           8,189,216     (30%)

    FUND BALANCE,
       ENDING                        $   11,689,216        $     8,189,216    $      8,689,216         0%




                                                      83
EXTRAORDINARY MAINTENANCE, REPAIR OR IMPROVEMENT FUND

Originally, Nevada Revised Statute 354.6105 required that local governments establish a fund for the
extraordinary maintenance, repair or improvement of capital projects. The statute has since been
amended and the fund is now a recommendation. Such expenditures are defined as expenses ordinarily
incurred not more than once every five years to maintain a local governmental facility or capital project in
a fit operating condition. Funding is to be 1/2 of 1% of the total amount of the bonds sold for each capital
project.
In FY 97, the LVCVA transferred the required funds relating to the 8/96 bond issue from the general fund in
order to establish this fund. Additional funding was transferred for the 11/99 bond issue in FY 2000. All funds
are anticipated to be spent on building improvements during FY 2009.


                                                                       REVISED      PROPOSED
                                     ACTUAL           ACTUAL           BUDGET           BUDGET               %
                                      FY 06            FY 07            FY 08            FY 09             CHANGE
       REVENUES:
        Interest                 $      61,048    $      80,342    $      30,000    $      25,000             -17%


       OTHER FINANCING
        SOURCES (USES):
        Operating Transfer In                 -                -                -                -               0%
        Total Other Financing
          Sources (Uses)                      -                -                -                -               0%


       EXPENDITURES
         Construction in         $            -   $            -   $            -   $ 1,631,036               100%
          Progress
       OTHER FINANCING
        SOURCES (USES):
        Operating Transfer Out                -                -                -                -               0%
        Total Other Financing
          Sources (Uses)                      -                -                -                -               0%


       EXCESS (DEFICIENCY) OF REVENUES AND
        OTHER FINANCING SOURCES OVER (UNDER)
        EXPENDITURES AND OTHER FINANCING
        SOURCES                         61,048           80,342           30,000        (1,606,036)         -5453%


       FUND BALANCE,
          BEGINNING                  1,434,646        1,495,694        1,576,036        1,606,036                2%


       FUND BALANCE,
          ENDING                 $   1,495,694    $ 1,576,036      $ 1,606,036      $                (0)     -100%




                                                          84
FIVE-YEAR CAPITAL IMPROVEMENT PLAN

A capital improvement plan (CIP) is a financial planning and management tool that lists proposed capital
projects and capital acquisitions for a rolling five-year period. This multi-year document identifies and
prioritizes the need for the improvements and acquisitions and coordinates their funding and optimal time
frames for completion. It is also a process that provides order and continuity to the repair, replacement,
construction or expansion of the LVCVA’s facilities.

The LVCVA prepared a five-year capital improvement plan for fiscal years 2009 – 2013. It includes not only
all planned capital acquisitions or projects expected to cost $20,000 or more in one fiscal year, but also
multi-year equipment replacements and additions regardless of estimated individual cost. Projects and
equipment estimated to be less than $20,000 are included in the capital project and equipment listing on
pages 77-82. The first year projects (FY 2009) operating impacts have already been discussed on pages
77-79. If there are any impacts on the operating budgets for FY 2010 – 2013, they will be noted below the
project name.

Nevada Revised Statute 350.013 requires that capital improvement plans be submitted to the Nevada
State Department of Taxation and the County Clerk with the entity’s Debt Management Policy and
Indebtedness Report on August 1.

BUDGET PROCESS

In conjunction with the review and update of departmental objectives and preparation of the
departmental annual budget, each department is required to identify and submit individual capital
project requests to their respective senior vice president.

Departments are urged to carefully assess their equipment necessities and planned improvement
programs to determine the full five-year needs in an effort to encourage long-range planning instead of
short-term, stop-gap, or “emergency” repairs or rehabilitation work.

For each project/acquisition, the submitter must provide a description, justification, documentation, and
amount of funding that is expected to be needed. In addition, any effects that the project will have on
future annual operating budgets must be identified and quantified if possible. Based on the individual
project details, summaries of capital funding needs over the next five years can be prepared and sources
of funding identified.

The Finance Department then compiles a preliminary listing of capital projects and acquisitions for the
executive review process. It is during this review process that project recommendations are accepted,
deferred to later years, or changed either in time frame or funding.

Year one of the plan (budget year) is submitted to the Board of Directors for their acceptance and
approval in the operating budget. Any projects or purchases that may have an impact on the operating
budget will be footnoted and quantified if possible.

A more detailed five-year capital improvement plan is published as a separate document.




                                                   85
FIVE-YEAR CAPITAL IMPROVEMENT PLAN

                                                  FY 09        FY 10         FY 11       FY 12        FY 13
                 CONVENTION CENTER

                   Land Improvements


Blue Lot Fencing                                   $50,000

Protective Bollards (S-2)                           15,000

Joe W. Brown Landscaping/Fencing                                 $40,000                 $400,000

Wash Rack Relocation                                              10,000

Gold Lot Seal Coat                                                                        160,000

Replace Concrete Walkways                                                                 100,000
            Capital Improvement Program

Capital Improvement Program Holding               4,250,000

FF&E - Public Areas                                             2,500,000                3,000,000

C-3 Tunnel Renovation                                            500,000     $500,000     500,000

Renovate C-3 Tunnel Restrooms                                    214,000                              $214,000

Folding Wall Replacement - Central Halls                                     3,200,000

Off-site Way finding                                                         1,000,000   2,535,000

Lithonia Lighting (North/Central Halls)                                       500,000     500,000      500,000

Fire Booster Pump (Paradise)                                                  303,000

Northeast Meeting Rooms Outer Stairs                                           50,000    5,000,000    5,000,000

Data Telecom Cabling (North Halls)                                                        334,000

Temporary General Session at North Hall                                                   400,000

Gold Lot Enhancements                                                                    1,000,000    1,000,000

Art Allowance                                                                            1,000,000

Electric Signage                                                                         1,400,000

Paint Building Exterior                                                                  2,225,000    2,225,000

Exhibit Hall Concrete Replacement (C-2)                                                  4,200,000

Engineering/Warehouse Relocation                                                                     10,000,000

Restroom Renovation - South Hall                                                                      5,000,000
                Building Improvements

Master Plan Enhancement (PM/CM, Architect,
Insurance, Permits, Regulatory Allowances) (A)   44,300,854    33,368,140   22,810,481   9,440,636

Desert Inn Meeting Rooms (A)                     42,290,269   143,842,117   75,752,456

Central Hall Restrooms, Data Center and
Freight Door (A)                                 14,619,742

Grand Concourse\Silver Lots (A)                  51,746,141   211,864,057   31,260,834

North Lobby & Meeting Room Renovation (A)         5,011,946    74,477,092   13,970,476



                                                      86
FIVE-YEAR CAPITAL IMPROVEMENT PLAN


                                                    FY 09        FY 10         FY 11       FY 12       FY 13
                  CONVENTION CENTER

          Building Improvements (continued)


Electrical Distribution (A)                        $1,275,461

Sewer, Water, Telephone Relocation (A)              9,138,740

Gas & Power Relocation (A)                          5,376,217

Campus Wide Technology Packages (A)                 2,448,804   $11,049,747   $6,156,276   $436,384

Campus Wide Fire Alarm Systems (A)                   199,342       554,744      412,875      21,395

Campus Wide Signs & Graphics (A)                     133,951      1,531,751    1,690,031    104,005

Metropolitan Police Department Substation (A)       5,210,526

North Hall/Central Hall Building Enhancement (B)    1,631,036

Access Control - Cambridge Warehouse                  12,000

Air Conditioning Unit (Carpenter Shop)                10,000

Awnings & Power Receptacles                             3,200

Building Enhancements                                500,000

Concourse Door Replacement (C-5)                      56,000

Emergency Generator Replacement - Central Hall        75,000

Service Hallway Door Replacement
 (Communications)                                     10,500

Column Retrofit (Sprinkler Connection)                              83,000

Meeting Room Door Replacement - North Hall                          57,600

Grand Concourse Canopy (East Entrance)                              50,000

Grand Concourse Lighting (East Entrance)                            10,000

Grand Concourse Signage (East Entrance)                               8,000

Construct Wall in Halls C3 to C4.1                                               75,000

Overhead Door Replacement (C-2)                                                             175,000

Albany 3000 Rapid Roll Doors                                                                150,000

Vertical Metal Gray Siding Repair                                                           150,000

Rebuild Columns in C-1 Hall                                                                  30,000

Emergency Operations Center (EOC) -
3333 Cambridge                                                                                          $80,000
                  Furniture & Equipment

Capital Computer                                     654,000       700,000      700,000    1,200,000   1,200,000

Miscellaneous Equipment ( C )                        270,600       500,000      500,000     500,000     500,000

Barricades (150)                                      30,000                                 28,200



                                                        87
FIVE-YEAR CAPITAL IMPROVEMENT PLAN

                                               FY 09       FY 10       FY 11      FY 12      FY 13
                  CONVENTION CENTER

           Furniture & Equipment (continued)


Forklift                                                                $27,000    $58,000    $75,000

Carpet Extractor                                             $14,000     14,000     30,000

Stair Sets & Skirting                           $36,000                  16,500

Chevrolet Truck                                  36,600                  28,000

Handheld Radios (51)                             31,000

Duct Detectors                                   35,000

Saflok MT Key Cards                              27,000

Electric Carts                                   40,000

Gas Carts                                        20,000

Chairs                                                       220,000                          198,000

Tables                                                        72,800     54,900     35,100    138,000

Scrubber                                                      89,000     39,000     71,000

                    CASHMAN CENTER
                   Land Improvements

Aluminum Parking Lot Signs                        3,500

Baseball Field Renovation                      1,200,000

East Plaza Landscape Conversion                  35,000

Parking Lot B Landscape Conversion               35,000

Parking Lot C Bollards                           50,000

Parking Lot C Reseal                             30,000      225,000

Stadium Lighting Re-Lamp                         35,000

Block Wall Repair                                             71,400

Fire Suppression System for Berm                                         20,000

Replace Reader boards                                                              500,000

Remodel Theatre Plaza                                                                          50,000
                 Building Improvements

Call Center Carpet Replacement                   50,000

Central Plant Chillers                          150,000      425,000

Diamond Plate Exhibit Halls                      15,000

Exhibit Hall Corridor Carpet Replacement         75,000

Re-lamp Exhibit Hall A&B                          6,500




                                                   88
FIVE-YEAR CAPITAL IMPROVEMENT PLAN

                                                FY 09      FY 10       FY 11      FY 12      FY 13
                    CASHMAN CENTER

           Building Improvements (continued)


Roofing Repairs - Exhibit Halls/Meeting Rooms   $200,000

Stadium Concrete Repair                          180,000

Water Main Line Replacement                       75,000                $75,000

Boiler Replacement                                           $75,000    400,000

Replace stadium speakers                                      60,000

Install Way finding Signage                                   50,000

Remodel Stadium Ticket Office                                 10,000

Automated Logic Installation                                            175,000

Repair Freight Doors                                                     70,000

Cashman Kitchen Remodel                                                  50,000

Replace Floor Tile Tunnel Hallway                                        42,000

Wash Rack Covers                                                         10,000

Replace Meeting Room Folding Walls                                                $400,000

Installation of new Lithonia Lighting System                                       145,000   $375,000

Replace perimeter doors                                                            100,000

Hydraulic Stage Lift                                                                15,000

Install 2nd Water Supply                                                                      412,700

Roof Replacement                                                                              100,000

Purchase Transformer                                                                           66,000

Exhibit/Meeting Room Restroom Remodel                                                          50,000
                   Furniture & Equipment

Miscellaneous Equipment ( C )                                 27,500      7,000      7,000      8,500

Barricades (150)                                                         28,000     20,000

Forklift                                                      27,000     75,000     20,000

Carpet Extractor                                                                    26,000

Chevrolet Truck                                                          28,000

Electric Carts                                                16,000     21,000

Gas Carts                                                                36,000

Light Towers (2)                                              20,000

Sweeper                                                       35,000                75,000




                                                    89
FIVE-YEAR CAPITAL IMPROVEMENT PLAN

                                                           FY 09           FY 10           FY 11          FY 12             FY 13
                    CASHMAN CENTER

             Furniture & Equipment (continued)


Tables                                                                       $65,000         $88,000        $35,000

Scrubber                                                                                      40,000                         $30,000

Turnstiles                                                                                                                    15,000
              VISITOR INFORMATION CENTERS
                  Furniture & Equipment

Canopy Replacement - Laughlin VIC                             $8,000

Counter Installation - Primm VIC                              10,000

             TOTAL – FIVE YEAR CAPITAL PLAN             $191,702,929    $482,862,948   $160,225,829     $36,526,720   $27,237,200


    (A) Funded by Commercial Paper – projects total $180 million and projected commercial paper draws are $255 million.
    (B) Funding from Extraordinary Repair and Maintenance Fund – will be used on projects in the North and Central Halls.
    (C) Miscellaneous Equipment – anything less than $5,000 has been combined for ease of reporting, includes items such as tools,
        easels, vacuums, portable generators and items for office moves.




                                                                90
DEBT SERVICE FUNDS SUMMARY

Three of the LVCVA’s outstanding debt obligations are general obligation bonds of Clark County, acting
by and through the LVCVA. They are primarily secured by ad valorem taxes and are additionally secured
by net pledged revenues of the LVCVA, represented basically by room taxes. The LVCVA has never
resorted to the use of property taxes for debt service, using only net pledged revenues derived from
operations. In fact, no ad valorem property tax revenues are allocated to the LVCVA for any purpose. No
change in this practice is contemplated. Three of LVCVA’s obligations are LVCVA revenue bonds, which
are secured by room taxes and the facilities revenue generated by the LVCVA. The other obligation is
commercial paper.
The LVCVA’s Board of Directors approved an $822,000,000 debt issuance, which will initially be issued via
commercial paper. The purpose of the debt issue is for construction of enhancements (i.e. improving
connectivity between the various halls, upgrade building and technology systems) to the existing Las
Vegas Convention Center complete with a police substation, and a fire station. The issuance began in
FY 2007 and will continue over the next four years. The LVCVA issued $16 million in Commercial Paper
during FY 2007, and estimates $80 million in FY 2008, $255 million in FY 2009, and the remainder of $471
million during FY 2010 and FY 2011. The timing and specific amounts of individual issues have not yet been
determined.
As authorized by Nevada Revised Statue 244A.637 the LVCVA will issue bonds to provide funding for the
Nevada Department of Transportation (NDOT). The agreement requires the LVCVA to contribute
$20,000,000 a year for a period of 15 years or a total of $300,000,000 to the NDOT for projects in Clark
County. The new bond authorization will be for the total $300 million of which $45,000,000 will be issued in
August 2008.
Including the new issuance, the LVCVA will have seven outstanding bond issues, payable in annual
installments and an outstanding commercial paper issue.
                                                                  Semi-                         Outstanding
                                                 Original        Annual           Final           Principal
        Obligation Name and Type                   Issue         Interest       Maturity         at 6/30/08
4/1/98 Refunding Bonds (G.O.)                     36,200,000    4.7 - 5.1%       FY 2027          35,575,000
11/99 Building Bonds (Revenue)                   150,000,000     4.8 – 6%        FY 2013          31,825,000
3/05 Refunding Bonds (Revenue)                   118,745,000    3.0-5.25%        FY 2020         117,110,000
05/07 Refunding Bonds (G.O)                       38,200,000     4.0-5.5%        FY 2022          38,200,000
10/07 Land (Revenue)                              50,000,000     4.0-6.0%        FY 2038          50,000,000
08/08 NDOT (G.O)                                  45,000,000    Unknown         Unknown         To be issued
Commercial Paper**                               822,000,000    Variable        Variable          96,000,000
**See explanation of commercial paper above.


Quarterly transfers from the general fund are made to fund interest payments due on January 1 and
principal and interest due on July 1. These funds are invested in the interim, and interest earned on the
investments is transferred back to the general fund. The budgeted ending fund balances of the debt
service funds are sufficient to pay principal and interest due on the first day (July 1) of the next fiscal year.
However, the commercial paper interest payments are variable and subjective to maturity date. The
funds are invested in the interim.

                                               BOND ISSUE PROCESS
As a governmental entity, the LVCVA must follow Nevada Revised Statute 350.013. This statute requires
filing several reports with the Debt Management Commission prior to August 1 of each year regardless if
new debt is being contemplated or not. These reports include a complete statement of current general
obligation debt and a report of current debt and retirement schedules, a complete statement of general
obligation debt contemplated, the entity’s debt management policy, and a five-year capital
improvement plan.




                                                        91
DEBT SERVICE FUNDS SUMMARY


The debt management policy must contain the following discussions:
       A discussion of ability to afford existing general obligation debt, authorized future general
       obligation debt and proposed future general obligation debt;
       A discussion of capacity to incur authorized and proposed future general obligation debt
       without exceeding the applicable debt limit;
       A discussion of general obligation debt that is payable from property taxes per capita as
       compared with such debt of other municipalities in this state;
       A discussion of general obligation debt that is payable from property taxes as a percentage
       of assessed valuation of all taxable property within the boundaries of the municipality;
       Policy regarding the manner in which the municipality expects to sell the debt;
       A discussion of sources of money projected to be available to pay existing general
       obligation debt, authorized future general obligation debt and proposed future general
       obligation debt; and
       A discussion of its operational costs and revenue sources, for the ensuing five fiscal years,
       associated with each project included in its plan for capital improvement.




                                                    92
DEBT SERVICE FUNDS SUMMARY




                                           TOTAL DEBT SERVICE FUNDS
                                                                            REVISED            PROPOSED
                                      ACTUAL             ACTUAL             BUDGET              BUDGET          %
                                       FY 06              FY 07              FY 08               FY 09        CHANGE
REVENUES:
 Interest                         $      512,404     $      664,903     $      795,000     $      689,000       (13%)
 Bond Premium                                  -          2,051,229                  -                   -          0%
  Total Revenues                         512,404          2,716,132            795,000            689,000       (13%)

EXPENDITURES:
 Principal                            11,725,000         11,050,000         11,605,000          13,340,000          15%
 Interest                             11,498,269         13,341,084         14,668,351          27,018,536          84%
 Refunding Bond Escrow                         -         40,796,517                  -                   -          0%
 Bond Issuance Cost                         2,242           323,813                  -                   -          0%
  Total Expenditures                  23,225,511         65,511,413         26,273,351          40,358,536          54%

Excess (Deficiency) of Revenues
Over (Under) Expenditures             (22,713,107)       (62,795,282)       (25,478,351)       (39,669,536)         56%

OTHER FINANCING SOURCES (USES):
 Operating Transfers In               23,955,869         26,924,594         36,401,764          58,021,375          59%
 Proceeds from Sale of Bonds                   -         38,200,000                  -                   -          0%
 Operating Transfers Out                (512,404)         (1,760,208)         (795,000)           (689,000)     (13%)
 Total Other Financing
  Source (Uses)                       23,443,465         63,364,386         35,606,764          57,332,375          61%

EXCESS (DEFICIENCY) OF REVENUES AND
 OTHER FINANCING SOURCES OVER
 (UNDER) EXPENDITURES AND OTHER
 FINANCING SOURCES                       730,358            569,105         10,128,413          17,662,839          74%

FUND BALANCE,
  BEGINNING                           16,834,060         17,564,418         18,133,523          28,261,936          56%

FUND BALANCE,
  ENDING                          $   17,564,418     $   18,133,523     $   28,261,936     $    45,924,774          62%




                                                            93
DEBT SERVICE FUNDS SUMMARY




Since the LVCVA’s establishment in 1959, room taxes have provided sufficient funding for debt service with
no effect on operations. The economic forecast does not indicate any reversal of this 48-year trend.
Annual bonded debt service requirements (including the estimated commercial paper issues) thru the
year 2040:

                              FYE       Principal (in $)        Interest (in $)   Total (in $)
                            6/30/2009     13,340,000             27,018,536       40,358,536
                            6/30/2010     13,140,000             40,284,723       53,424,723
                            6/30/2011     13,850,000             61,418,198       75,268,198
                            6/30/2012     14,625,000             60,633,616       75,258,616
                            6/30/2013     15,485,000             59,823,660       75,308,660
                            6/30/2014     16,300,000             59,007,029       75,307,029
                            6/30/2015     17,165,000             58,137,791       75,302,791
                            6/30/2016     18,055,000             57,222,929       75,277,929
                            6/30/2017     19,000,000             56,277,454       75,277,454
                            6/30/2018     19,965,000             55,306,335       75,271,335
                            6/30/2019     20,985,000             54,301,704       75,286,704
                            6/30/2020     22,075,000             53,244,716       75,319,716
                            6/30/2021     27,340,706             52,594,810       79,935,516
                            6/30/2022     28,921,448             51,025,608       79,947,056
                            6/30/2023     30,882,635             49,338,241       80,220,876
                            6/30/2024     32,674,093             47,544,251       80,218,344
                            6/30/2025     34,565,939             45,640,917       80,206,856
                            6/30/2026     36,568,595             43,619,658       80,188,253
                            6/30/2027     38,697,811             41,477,452       80,175,263
                            6/30/2028     35,464,679             39,350,696       74,815,375
                            6/30/2029     37,570,660             37,239,215       74,809,875
                            6/30/2030     39,812,600             35,001,900       74,814,500
                            6/30/2031     42,182,756             32,631,119       74,813,875
                            6/30/2032     44,693,821             30,119,054       74,812,875
                            6/30/2033     47,353,950             27,457,300       74,811,250
                            6/30/2034     50,176,787             24,636,838       74,813,625
                            6/30/2035     53,166,495             21,648,130       74,814,625
                            6/30/2036     56,332,784             18,481,216       74,814,000
                            6/30/2037     59,685,951             15,125,549       74,811,500
                            6/30/2038     63,241,909             11,569,841       74,811,750
                            6/30/2039     63,782,223              7,882,777       71,665,000
                            6/30/2040     67,609,156              4,055,844       71,665,000




The LVCVA’s bonds issued through Clark County are rated “AA” by Standard and Poor’s and “Aa2” by
Moody’s. LVCVA’s separate bond rating is “A+” insured by Standard and Poor’s and “Aa3” insured by
Moody’s for the 11/99 and 3/05 bond issues.



                                                           94
DEBT SERVICE FUNDS SUMMARY

                              INDIVIDUAL FY 2009 DEBT SERVICE FUNDS

                                                               4/98                 11/99               2005
                                                              BOND                  BOND             REFUNDING
                                                              FUND                  FUND                FUND
                  REVENUES:
                   Interest                             $       13,000        $       173,000       $       57,000
                     Total Revenues                             13,000                173,000               57,000
                  EXPENDITURES:
                   Principal                                 10,620,000               100,000             150,000
                   Interest                                   1,525,981             1,803,375           5,973,850
                     Total Expenditures                      12,145,981             1,903,375           6,123,850
                  Excess (Deficiency) of Revenues
                   Over (Under) Expenditures      (12,132,981)                      (1,730,375)         (6,066,850)
                  OTHER FINANCING SOURCES (USES):
                   Operating Transfers In         1,330,481                        11,790,775           6,064,929
                   Operating Transfers Out          (13,000)                         (173,000)            (57,000)
                   Total Other Financing
                     Source (Uses)                1,317,481                        11,617,775           6,007,929
                  EXCESS (DEFICIENCY) OF REVENUES AND
                   OTHER FINANCING SOURCES OVER
                   (UNDER) EXPENDITURES AND OTHER
                   FINANCING SOURCES            (10,815,500)                        9,887,400               (58,921)
                  FUND BALANCE,
                    BEGINNING                                11,515,741             1,002,987           3,199,627
                  FUND BALANCE,
                    ENDING                              $      700,241        $ 10,890,387          $   3,140,706




                                          MASTER PLAN               05/07                  11/07                     08/08
                                            BOND                 REFUNDING             LAND PURCHASE                 NDOT
                                             FUND                   FUND                   FUND                      FUND
      REVENUES:
       Interest                           $      335,000        $         44,000        $         33,000       $         34,000
         Total Revenues                          335,000                  44,000                  33,000                 34,000
      EXPENDITURES:
       Principal                                     -                1,800,000                670,000                      -
       Interest                               12,456,000              1,743,763              2,615,567                  900,000
         Total Expenditures                   12,456,000              3,543,763              3,285,567                  900,000
      Excess (Deficiency) of Revenues
       Over (Under) Expenditures              (12,121,000)            (3,499,763)            (3,252,567)               (866,000)
      OTHER FINANCING SOURCES (USES):
       Operating Transfers In                 28,406,000              3,469,654              3,059,534                 3,900,000
       Operating Transfers Out                  (335,000)               (44,000)               (33,000)                  (34,000)
       Total Other Financing
         Source (Uses)                        28,071,000              3,425,654              3,026,534                 3,866,000
      EXCESS (DEFICIENCY) OF REVENUES AND
       OTHER FINANCING SOURCES OVER
       (UNDER) EXPENDITURES AND OTHER
       FINANCING SOURCES               15,950,000                       (74,108)                (226,033)              3,000,000
      FUND BALANCE,
        BEGINNING                              7,245,591              2,997,989              2,300,000                       -
      FUND BALANCE,
        ENDING                            $ 23,195,591          $     2,923,881         $    2,073,968         $       3,000,000




                                                                95
DEBT LIMITS AND CAPACITY

                                            DEBT CAPACITY
                                        CLARK COUNTY, NEVADA
                                          AS OF JUNE 30, 2007


                                                        Las Vegas Convention
                                                          & Visitors Authority        Clark County
Approximate Assessed Valuation (1)                         $ 93,359,179,034         $ 93,359,179,034
Bonded Debt Limit (2)                                                    5%                     10%
Statutory Debt Limitation                                     4,667,958,952           9,335,917,903
Less:
  Amount of Debt Applicable to Debt Limit                        85,135,000 (3)       1,205,915,000 (4)
 Total General Obligation Indebtedness Available            $ 4,582,823,952         $ 8,130,002,903




      (1) This is the net total assessed value for the secured and estimated unsecured property for
          Clark County, Nevada for FY 2007.             It includes the assessed valuation of the
          redevelopment agencies. These values are included for purposes of calculating the
          debt limit but are not subject to County taxation for the retirement of general obligation
          bonded indebtedness. This valuation is used to determine the LVCVA’s debt margin
          since our debt is issued in the name of the County as described below.

      (2) State statute requires debt issued by the LVCVA to be issued in the name of the County.
          The LVCVA’s Board of Directors is empowered to issue general obligation bonds, which
          are secured by the full faith and credit of the County and are additionally secured by a
          pledge of revenues derived by the LVCVA. Nevada Revised Statute (NRS) 244A.653
          states that the County may not become indebted in excess of 5 percent of the total last
          assessed valuation of taxable County property for the issuance of general obligation
          bonds designated for County recreational purposes. This requirement applies to the
          LVCVA.

          NRS 244A.059 limits the aggregate principal amount of the County’s general obligation
          debt to 10 percent of the County’s total reported assessed valuation.

      (3) The LVCVA’s Outstanding General Obligation indebtedness is comprised of the
          following general obligation bonds:

                             Bond name                  Principal Outstanding
                     9/96 Refunding/Building Bonds            $ 1,865,000
                     4/98 Refunding Bonds                      35,660,000
                     5/03 Refunding Bonds                       9,410,000
                     5/07 Refunding Bonds                      38,200,000
                                                              $85,135,000

      (4) Clark County’s Outstanding General Obligation Indebtedness includes general
          obligation bonds, general obligation revenue bonds, notes, and medium-term
          obligations.




                                                   96
DEBT SERVICE - BOND COVERAGE

The LVCVA’s bonds constitute direct and general obligations of Clark County (except for the 11/99 and
the 2005 Refunding Series bonds). They are additionally secured by a pledge of revenues consisting of
gross revenues derived from the operation and use of facilities, plus room and gaming taxes (gross
pledged revenues), less operating and maintenance expenses of the facilities and collection allocation.
Gross pledged revenues also include interest income and miscellaneous fees and charges in the general
fund. It does not include the 5/8 of 1% room tax, which until July 1, 1999 was remitted to the LVCVA. This
room tax was restricted to being used for advertising and promotion of tourism. Operating and
maintenance expenditures include general government, operations and collection allocation. Also
included are those marketing expenditures related only to the sales effort of the Las Vegas Convention
Center and Cashman Center (i.e. Destination Services, Registration Services, Call Center, Convention
Services and Sales).

                                 GROSS        OPERATING AND            NET          DEBT SERVICE          DEBT
        FISCAL                  PLEDGED       MAINTENANCE           PLEDGED          PRINCIPAL          SERVICE
         YEAR                   REVENUES       EXPENDITURES         REVENUES        AND INTEREST       COVERAGE
         2000                  $148,442,348        $49,685,450      $98,756,898       $18,699,212        5.28x
         2001                   169,111,399         55,663,691      113,447,708        28,365,893        4.00x
            2002                160,456,123          57,726,592      102,729,531       26,134,645           3.93x
            2003                168,352,694          60,312,786      108,039,908       26,129,201           4.13x
            2004                193,181,748          64,156,519      129,025,229       25,237,306           5.11x
            2005                224,770,552          70,377,960      154,392,592       24,477,555           6.31x
            2006                253,172,521          72,285,528      180,886,993       23,223,269           7.79x
            2007                269,118,610          79,106,745      190,011,865       24,391,084           7.79x
      2008 (est)                275,617,300          86,612,072      189,055,228       26,273,351           7.19x
      2009 (bdgt)               277,295,400          90,377,300      186,918,100       40,358,536           4.63x


                                     DEBT SERVICE AND NET PLEDGED REVENUES
                                                  2000 - 2007 ACTUAL
                                                 2008 - 2009 PROJECTED
             Millions
      200
      190
      180
      170
      160
      150
      140
      130
      120
      110                                                                              NET PLEDGED REVENUES
      100
       90
       80
       70
       60
       50
       40
       30
       20
       10                                                                           DEBT SERVICE
        0
        2000            2001        2002      2003      2004        2005     2006     2007     2008 (est)     2009
                                                                                                             (bdgt)




                                                               97
DEBT SERVICE - HISTORICAL PERSPECTIVE

Certain outstanding general obligation (limited tax) bonds have been defeased in prior years by placing
the proceeds of new refunding bonds in irrevocable trusts to provide for all future debt service payments
on the old bonds. These trust accounts and the related defeased bonds are not included in the LVCVA’s
budget or financial statements. Information regarding the defeased bonds is provided below:

                                                                                  DEFEASED AMOUNT
                                    TRUST                      BOND                 OUTSTANDING
                                  ACCOUNT                       ISSUE                AT 6/30/07
                                 98A Escrow                    8/1/96                $23,430,000
                                 3/05 Escrow                   11/99                 117,775,000

The schedule below presents a historical record of all debt issued by the LVCVA since it was established,
including those bonds defeased by advance refunding. The LVCVA’s Board of Directors has approved a
resolution to refund bonds during the latter part of FY 2007 which will result in an estimated savings of $4.5
million over the next 15 years. As of the time of this budget being prepared, the amounts have not been
finalized.

           ORIGINAL                                                                                                     DATE
 DATE       ISSUE        INTEREST                                                                                      RETIRED/
ISSUED      AMOUNT         RATE                       PURPOSE                                  STATUS                  DEFEASED

1/15/57     4,500,000       5%       Original construction of Convention         Refunded by 7/15/63 bonds              1/15/77
                                     Center
12/15/58    1,000,000    4-4.25%     $500,000 for construction; $500,000 for     Refunded by 7/15/63 bonds              1/15/68
                                        recreation grants
7/15/63     4,790,000      3.5%      Refund 1/15/57 and 12/15/58 bonds           Retired                                7/15/73
1/15/71     7,500,000     4.5-5%     East Hall expansion - $6,500,000; stadium   Refunded by 7/1/73 bonds               1/15/82
                                        construction - $1 million
 7/1/73     6,960,000    4.5-5.3%    Refund 1/15/71 bonds                        Refunded by 12/1/82 bonds              1/1/85
 5/1/75    12,000,000      7-8%      East Hall and kitchen expansion;            Refunded by 8/31/76 bonds              8/31/76
                                        warehouse and meeting rooms annex
                                        construction
8/31/76    12,225,000    6.2-6.3%    Refund 5/1/75 bonds                         Refunded by 12/1/82 bonds              12/1/82
 7/1/80    22,000,000     7-8.5%     Cashman Center construction                 Refunded by 12/1/82 bonds              12/1/82
10/1/80    20,000,000       9%       Purchase land; expansion of East Hall and   Refunded by 12/1/82 bonds              12/1/82
                                        cafeteria; construction of pedestrian
                                        bridge; $2.5 million for recreation
                                        grants
12/1/82    52,825,000    7-10.9%     Refund 7/73, 8/76, 7/80 and 10/80 bonds     Retired                                7/1/93
 6/1/86    38,240,000     5.9-8%     Refund portion of 12/1/82 bonds             Refunded by 9/1/96 bonds               9/1/96
 6/1/88    35,000,000     7-10%      Expansion of Convention Center              Partially refunded by 8/1/93 bonds     7/1/98

 8/1/93    80,530,000    4.8-5.2%    Purchase land; refund a portion of 6/1/88   Partially refunded by 98A and          7/1/03
                                        bonds                                    5/03
 9/1/96    97,425,000     5.4-6%     Expansion of Convention Center &            Partially refunded by 98A and          7/1/08
                                        Cashman Center, refund 6/1/86 bonds      5/07

4/1/98A    36,200,000    4.7-5.1%    Refund a portion of 8/1/93 and 9/1/96       Outstanding – Final payment date     Outstanding
                                     bonds                                       FY 2027
4/1/98B     5,020,000      4.5%      Grant to the University of Nevada Las       Retired                                7/1/03
                                     Vegas for the purpose of improvements
                                     to the Thomas and Mack Center and Sam
                                     Boyd Stadium
 11/99     150,000,000    4.8-6%     Expansion of Convention Center              Partially refunded by 3/05 – Final   Outstanding
                                                                                 payment date FY 2013
 5/03      35,075,000    1.2-2.1%    Refund 8/93 Bonds                           Retired                                7/1/08

 3/05      118,745,000   3.0-5.25%   Refund a portion of the 11/99 bonds         Outstanding – Final payment date     Outstanding
                                                                                 FY 2020


                                                                 98
DEBT SERVICE - HISTORICAL PERSPECTIVE

          ORIGINAL                                                                                                   DATE
 DATE      ISSUE        INTEREST                                                                                    RETIRED/
ISSUED     AMOUNT        RATE                      PURPOSE                                  STATUS                  DEFEASED

05/07     38,200,000    4.0-5.5%   Refunded 8/96 Bonds                        Outstanding – Final payment date     Outstanding
                                                                              FY 2022

11/07     50,000,000    4.0-6.0%   Purchase land                              Outstanding – Final payment date     Outstanding
                                                                              FY 2038

FY 2007   16,000,000    variable   Issue commercial paper for the Las Vegas   Partially issued. Board authorized     Partial
                                   Convention Center’s Master Plan            issuance of $822,000,000, ($680
                                   Enhancement Program                        million in Feb. 2006 and $142
                                                                              million in May 2007).
08/08     45,000,000    Unknown    Nevada Department of Transportation        Outstanding – Final payment date      Proposed
                                                                              FY 2039. Total NDOT bonds
                                                                              authorized $300,000,000

FY 2008   80,000,000    variable   Issue commercial paper for the Las Vegas   Partially issued. Board authorized     Partial
                                   Convention Center’s Master Plan            issuance of $822,000,000, ($680
                                   Enhancement Program                        million in Feb. 2006 and $142
                                                                              million in May 2007).
06/09     255,000,000   Unknown    Nevada Department of Transportation        Proposed – Final payment date FY      Proposed
                                                                              2039. Total NDOT bonds
                                                                              authorized $300,000,000

FY 2009   255,000,000   variable   Issue commercial paper for the Las Vegas   Partially issued. Board authorized    Proposed
                                   Convention Center’s Master Plan            issuance of $822,000,000, ($680
                                   Enhancement Program                        million in Feb. 2006 and $142
                                                                              million in May 2007).




                                                             99
PERSONNEL ALLOCATION

                                 SUMMARY OF PERSONNEL REQUESTS

                                              BUDGET PROCESS
In the early stages of the budget process, personnel requests along with detailed justifications and other
supporting documentation are submitted. Budget meetings and further analysis resulted in a reduction of
requests. Every effort is made to limit the number of new employees while ensuring efficient operation of the
LVCVA. The positions are funded in payroll suspense and are not reflected in any division’s budget. Funds will
be transferred from the payroll suspense account to the appropriate budget as each position is filled.
If any new positions had been requested, a summary of the justifications of each requested position along with
proposed cost, which equals annual base salary plus employee benefits, would be presented below.
However, due to the current and projected expenses due to the building enhancement and the Department
of Transportation bonds, the LVCVA has instituted a strategy of deferring any new requests for personnel until
next fiscal year.
Reclassifications of current positions are approved by the President, except for executive (E-Level) positions. In
a recent comprehensive classification and compensation study performed by two consultants, three positions
were recommended for reclassification, which management has agreed with:
                                                                         Current
                 Title                                                    Class        Reclass
                 Vice President, Convention Sales                          E5            E4
                 Vice President, Facilities                                E5            E4
                 Senior Director, Information Technology
                     to Vice President, Information Technology             M1              E5


There is no budget impact, as no salary increases are associated with reclassifications.




                                                       100
PERSONNEL ALLOCATION


             SUMMARY OF AUTHORIZED POSITIONS by organizational unit/section

                                                FYE                FYE       FYE       FYE           FYE
                                              6/30/05            6/30/06   6/30/07   6/30/08       6/30/09
  GENERAL GOVERNMENT
        Executive                                15                17        17        17             17
        Human Resources                           7                 8        10        10             10
        Public Affairs**                         --                12        14        18             18
                                                 22                37        41        45             45

  MARKETING
        Advertising                              2                   2         2         2             2
        Internet Marketing & Research             5                  6         6         7             7
        Sports Marketing                          2                  2         4         4             4
        Sales                                   44                  --        --        --            --
        Convention Center Sales                  --                 12        12        12            12
        Diversity Marketing                      --                  2         4         4             4
        Convention Sales                         --                 30        30        28            28
        Tourism                                 19                  --        --        --            --
        Leisure Sales                            --                17        17        15            15
        International Sales                      --                  2         2         8             8
        Destination Services                     10                 10        10        10            10
        Registration Services                     4                  4         4         4             4
        Call Center                              26                 26        26        24            24
        Visitor Information                      18                 18        18        18            18
        Convention Services                      15                 15        15        16            16
        Public Affairs                           12                 --        --        --            --
                                                157                146       150       152           152

  OPERATIONS
        Facilities                                2                 --        --        --            --
        Client Services                         113                112       116       126           126
        Engineering Systems****                  49                 50        --        --            --
        Engineering Maintenance****              49                 49        --        --            --
        Engineering****                          --                 --       100       111           111
        Security                                 47                 49        50        39            39
        Traffic                                   5                 11        15        17            17
        Physical Security                         6                  5         5        17            17
        Finance                                  20                 19        21        22            22
        Purchasing                                9                  9        10        11            11
        Materials Management                      9                  9         9        10            10
        Information Technology                   12                 12        12        15            15
        Transportation                           --                 --        --        --            --
        Project Development                      3                   5         6         7             7
        Customer Experience***                   --                 --         2         2             2
                                                324                330       346       377           377
  TOTAL LVCVA                                   503                513       537       574           574

  **Public Affairs moved to the Executive Division in FY 2006.
  ***Customer Experience department was created during FY 2006 as part of the Executive department, but in FY
  2007 became a separate department under the Operations Division.
  ****Beginning in FY 2007 Engineering Systems and Engineering Maintenance were combined into one department,
  Engineering.




                                                            101
PERSONNEL ALLOCATION
The following is the staffing pattern by organizational unit/section for FY 2009. All new positions, transfers,
reclassifications, title changes and changes resulting from re-organizations are included.
Upon approval by the Board of Directors at the public budget hearing, this staffing pattern will be authorized
as of July 1, 2008. Total authorized positions: 574

EXECUTIVE (General Government)                              DIVERSITY MARKETING (Marketing)
 Secretary                                     1             Secretary                                     1
 Administrative Assistant                       2            Administrative Secretary                      1
 Executive Assistant to the Board               1            Sales Executive                               1
 Executive Assistant                            2            Director of Diversity Marketing               1
 Internal Auditor                               2                                                          4
 Staff Auditor                                  1
 Executive Admin. Assistant to the President   1
 Director of Internal Audit                     1           CONVENTION SALES (Marketing)
 Vice President of Strategic Planning           1            Administrative Specialist - Chicago           1
 Legal Counsel                                 1             Administrative Specialist - WDC               1
 Senior Vice President of Marketing             1            Secretary                                     7
 Senior Vice President of Operations           1             Secretary - Chicago                           2
 Executive Vice President                      1             Secretary - WDC                               2
 President and CEO                              1            Administrative Secretary                      1
                                               17            Sales Representative                          3
                                                             Sales Executive                               6
PUBLIC AFFAIRS (General Government)                          Sales Executive - Chicago                     1
 Secretary                                     2             Sales Executive - WDC                         1
 Photographer                                   3            Senior Manager of Regional Sales - Chicago     1
 Video Specialist                               1            Senior Manager of Regional Sales - WDC         1
 Curator                                        1            Director of Convention Sales                  1
 Lead Photographer                              1                                                          28
 Administrative Assistant                       2
 Media Specialist                              1            LEISURE SALES (Marketing)
 Public Relations Specialist                    2            Secretary                                     5
 Senior Manager of News Bureau                  1            Secretary - Laughlin                          1
 Senior Manager of Public Relations             1            Administrative Secretary                       1
 Senior Manager of International PR             1            Sales Representative - Laughlin                1
 VP of Resort Industry & Business Relations     1            Sales Executive                               5
 Vice President of Public Affairs               1            Senior Manager of Regional Sales - Laughlin    1
                                               18            Senior Director of Leisure Sales               1
                                                                                                           15
HUMAN RESOURCES (General Government)
 Human Resources Representative                2            INTERNATIONAL SALES (Marketing)
 Learning & Development Specialist              1            Secretary                                     2
 Employee Relations Coordinator                 1            Administrative Secretary                      1
 Administrative Assistant                       1            Administrative Assistant                      1
 Benefits Coordinator                           1            Sales Executive                               2
 HR Information Systems Administrator           1            Director of International Sales               1
 Learning & Development Manager                 1            VP of International Brand Strategy            1
 Director of Human Resources                    1                                                          8
 Vice President of Human Resources             1
                                               10           DESTINATION SERVICES (Marketing)
                                                             Administrative Specialist                      4
ADVERTISING (Marketing)                                      Account Representative                        2
 Secretary                                     1             Administrative Secretary                       1
 Advertising Executive                         1             Database Marketing Administrator               1
                                               2             Marketing Systems Manager                      1
                                                             Director of Destination Services              1
                                                                                                           10




                                                     102
PERSONNEL ALLOCATION
SPORTS MARKETING (Marketing)                             REGISTRATION SERVICES (Marketing)
 Secretary                                   1            Administrative Specialist                   2
 Administrative Secretary                    1            Registration Services Supervisor            1
 Sales Executive/Outlying Areas              1            Registration Services Manager               1
 Director of Sports Marketing                1                                                        4
                                             4
                                                         ENGINEERING (Operations)
INTERNET MKTG & RESEARCH (Marketing)                      Secretary                                   1
 Administrative Secretary                     1           Administrative Secretary                    2
 Research Analyst                             1           Administrative Assistant                     1
 Senior Research Analyst                      1           CMMS Dispatcher                             1
 Web Content Coordinator                      1           CMMS Coordinator                            1
 Web Publisher                                1           Facility Support Technician                  1
 Internet Marketing Manager                   1           Groundskeeper                               13
 Director of Internet Marketing & Research    1           Graphics Technician                         2
                                              7           Skilled Craftsman - Carpenter               12
                                                          Skilled Craftsman – Communications          8
CONVENTION CENTER SALES (Marketing)                       Skilled Craftsman - Electrician             13
 Secretary                                   5            Skilled Craftsman – HVAC                    10
 Administrative Assistant                     1           Skilled Craftsman - Mechanic/Welder         7
 Sales Executive                             5            Skilled Craftsman - Painter                 8
 Vice President of Convention Sales          1            Skilled Craftsman - Plumber                 7
                                             12           Quality and Inventory Control Technician     1
                                                          CMMS Administrator                           1
CALL CENTER (Marketing)                                   Facility Support Supervisor                 1
 Call Center Agent                           19           Graphics Supervisor                          1
 Call Center Supervisor                      4            Grounds Supervisor                           2
 Call Center Manager                          1           Communications Supervisor                    2
                                             24           Engineering Assistant Supervisor             2
                                                          Engineering Maintenance Supervisor           2
VISITOR INFORMATION (Marketing)                           Skilled Crafts Supervisor                    6
 Visitor Information Clerk                   12           Senior Manager of Engineering Systems        1
 Visitor Information Center Supervisor        4           Sr. Manager of Engineering Maintenance       1
 Visitor Information Supervisor               1           Director of Facility Operations              1
 Visitor Information Manager                  1           Director of Facility Projects                1
                                             18           Director of Engineering                      1
                                                          Vice President of Facilities                1
CONVENTION SERVICES (Marketing)                                                                      111
 Administrative Specialist                   1
 Secretary                                   3           SECURITY (Operations)
 Leasing Administrator                        1           Secretary                                   1
 Convention Services Manager                 10           Security Officer                           30
 Director of Convention Services             1            Administrative Secretary                    1
                                             16           Security Sergeant                           4
                                                          Canine Supervisor                          1
CLIENT SERVICES (Operations)                              Security Manager                            1
 Custodian                                    57          Director of Security                        1
 Service Worker                               54                                                     39
 Administrative Secretary                     1
 Services Supervisor                          11         PHYSICAL SECURITY (Operations)
 Facility Operations Manager                  2           Security Dispatcher                         8
 Director of Client Services                  1           Surveillance Investigator                  2
                                             126          Control Center Supervisor                   1
                                                          Life Systems Coordinator                    1
TRAFFIC (Operations)                                      Safety Coordinator                          3
 Security Officer                            10           Safety Supervisor                           1
 Traffic Field Supervisor                     2           Physical Security Manager                   1
 Administrative Traffic Supervisor            1                                                      17
 Security Sergeant                            3
 Traffic Manager                              1
                                             17
                                                   103
PERSONNEL ALLOCATION
CUSTOMER EXPERIENCE (Operations)                                              MATERIALS MANAGEMENT (Operations)
Administrative Secretary                                    1                  Mail Clerk                                    3
Director of Customer Experience                             1                  Distribution Center Clerk                      1
                                                            2                  Materials Service Worker                       2
                                                                               Copy Center Specialist                        1
FINANCE (Operations)                                                           Mail Room/Copy Center Coordinator              1
 Accounting Specialist                                      2                  Distribution Center Coordinator                1
 Accounting Technician                                       3                 Materials Management Manager                   1
 Payroll Specialist                                         1                                                                10
 Lead Payroll Technician                                     1
 Secretary                                                  1                 INFORMATION TECHNOLOGY (Operations)
 Records Management Specialist                               1                 Administrative Secretary                      1
 Administrative Assistant                                    1                 Portable Systems Technician                   1
 Analyst                                                    1                  Senior Help Desk Specialist                    2
 Transportation Coordinator                                  1                 Systems Technician                            1
 Management Specialist                                       1                 Programmer Analyst                            2
 Accountant                                                  1                 Systems Administration Specialist              2
 Management Analyst                                          1                 Senior Web Developer                          1
 Financial Analyst                                           1                 Telecommunications Supervisor                  1
 Senior Financial Analyst                                    1                 Network Supervisor                             1
 Financial Systems Administrator                             1                 Software Development Supervisor                1
 Financial Resources Manager                                 1                 Support Systems Supervisor                     1
 Financial Systems Manager                                   1                 Senior Director of Information Technology      1
 Senior Manager of Accounting Operations                     1                                                               15
 Vice President of Finance                                   1
                                                            22                PROJECT DEVELOPMENT (Operations)
                                                                              AutoCAD Technician                             1
PURCHASING (Operations)                                                       Administrative Secretary                       1
Secretary                                                   1                 Project Planner                                3
Administrative Secretary                                     1                Project Coordinator                            1
Purchasing Assistant                                         2                Director of Project Development                1
Buyer                                                        2                                                               7
Senior Buyer                                                 1
Contracts Coordinator                                        1
Contracts Administrator                                      1
Purchasing Manager                                          1
Director of Purchasing                                       1
                                                            11



                                            Personnel Level vs Operating Expenditures

                                  580                                                           100,000,000
                                  560
                 # of Employees




                                                                                                80,000,000
                                                                                                              Expenditures
                                                                                                               Operating




                                  540
                                                                                                60,000,000
                                  520
                                                                                                40,000,000
                                  500
                                  480                                                           20,000,000
                                  460                                                           -
                                        FY 05     FY 06      FY 07          FY 08    FY 09

                                                Personnel        Operating Expenditures




Operating expenditures, as presented in the graph above, include General Government, Marketing (not
including Advertising), and Operations Division expenditures.
                                                                      104
PERSONNEL ALLOCATION

                     BARGAINING AND NONBARGAINING UNIT CLASSIFICATIONS
The salary schedule for the bargaining (B) positions is effective from 7/1/07 to 6/30/08. Contract negotiations are currently
underway for the new union contract.

                      CLASS TITLE                      CLASSIFICATION        GRADE          SALARY SCHEDULE
     Account Representative                                  NB                18       38,294.27   - 56,716.14
     Accountant                                              NB                22       44,842.41   - 66,351.82
     Accounting Specialist                                    B                16       35,517.51   - 52,468.12
     Accounting Technician                                    B                20       41,423.26   - 61,399.26
     Administrative Assistant                                NB                22       44,842.41   - 66,351.82
     Administrative Secretary                                NB                20       41,423.26   - 61,399.26
     Administrative Specialist                                B                13       31,538.86   - 46,541.58
     Administrative Specialist – Chicago/WDC                 NB                13       31,538.86   - 46,541.58
     Administrative Traffic Supervisor                       NB                22       44,842.41   - 66,351.82
     Analyst                                                 NB                22       44,842.41   - 66,351.82
     AutoCAD Technician                                       B                20       41,423.26   - 61,399.26
     Benefits Coordinator                                    NB                22       44,842.41   - 66,351.82
     Buyer                                                    B                20       41,423.26   - 61,399.26
     Call Center Agent                                        B                13       31,538.86   - 46,541.58
     Call Center Supervisor                                  NB                22       44,842.41   - 66,351.82
     Canine Supervisor                                       NB                22       44,842.41   - 66,351.82
     Communications Supervisor                                B                25       50,499.52   - 74,723.53
     CMMS Administrator                                      NB                29       59,016.26   - 87,446.85
     CMMS Coordinator                                        NB                20       41,423.26   - 61,399.26
     CMMS Dispatcher                                          B                15       34,087.70   - 50,499.52
     Contracts Administrator                                 NB                23       46,541.58   - 68,983.54
     Contracts Coordinator                                   NB                19       39,910.56   - 59,016.26
     Control Center Supervisor                               NB                22       44,842.41   - 66,351.82
     Copy Center Specialist                                   B                14       32,740.76   - 48,510.19
     Curator                                                 NB                20       41,423.26   - 61,399.26
     Custodian                                                B                 9       26,917.89   - 39,910.56
     Database Marketing Administrator                        NB                23       46,541.58   - 68,983.54
     Distribution Center Clerk                                B                13       31,538.86   - 46,541.58
     Distribution Center Coordinator                          B                20       41,423.26   - 61,399.26
     Employee Relations Coordinator                          NB                22       44,842.41   - 66,351.82
     Engineering Assistant Supervisor                         B                22       44,842.41   - 66,351.82
     Engineering Maintenance Supervisor                       B                25       50,499.52   - 74,723.53
     Executive Admv Assistant to President                   NB                29       59,016.26   - 87,446.85
     Executive Assistant                                     NB                23       46,541.58   - 68,983.54
     Executive Assistant to the Board                        NB                23       46,541.58   - 68,983.54
     Facility Support Supervisor                              B                25       50,499.52   - 74,723.53
     Facility Support Technician                              B                20       41,423.26   - 61,399.26
     Financial Analyst                                       NB                26       52,468.12   - 77,728.20
     Financial Systems Administrator                         NB                29       59,016.26   - 87,446.85
     Graphics Supervisor                                      B                25       50,499.52   - 74,723.53
     Graphics Technician                                      B                20       41,423.26   - 61,399.26
     Grounds Supervisor                                       B                22       44,842.41   - 66,351.82
     Groundskeeper                                            B                17       36,843.73   - 54,457.45
     HR Information Systems Administrator                    NB                29       59,016.26   - 87,446.85
     Human Resources Representative                          NB                16       35,517.51   - 52,468.12


                                                            105
PERSONNEL ALLOCATION

             BARGAINING AND NONBARGAINING UNIT CLASSIFICATIONS (continued)
The salary schedule for the bargaining (B) positions is effective from 7/1/07 to 6/30/08. Contract negotiations are currently
underway for the new union contract.

                      CLASS TITLE                      CLASSIFICATION        GRADE           SALARY SCHEDULE
     Internal Auditor                                        NB                26        52,468.12   - 77,728.20
     Lead Payroll Technician                                 NB                22        44,842.41   - 66,351.82
     Lead Photographer                                        B                20        41,423.26   - 61,399.26
     Learning & Development Specialist                       NB                18        38,294.27   - 56,716.14
     Leasing Administrator                                   NB                23        46,541.58   - 68,983.54
     Life Systems Coordinator                                 B                25        50,499.52   - 74,723.53
     Mail Clerk                                               B                12        30,274.88   - 44,842.41
     Mail Room/Copy Center Coordinator                        B                20        41,423.26   - 61,399.26
     Management Analyst                                      NB                25        50,499.52   - 74,723.53
     Management Specialist                                   NB                16        35,517.51   - 52,468.12
     Materials Service Worker                                 B                14        32,740.76   - 48,510.19
     Media Specialist                                        NB                22        44,842.41   - 66,351.82
     Network Supervisor                                      NB                32        66,351.82   - 98,305.15
     Payroll Specialist                                      NB                16        35,517.51   - 52,468.12
     Photographer                                             B                18        38,294.27   - 56,716.14
     Portable Systems Technician                             NB                22        44,842.41   - 66,351.82
     Programmer Analyst                                      NB                29        59,016.26   - 87,446.85
     Project Coordinator                                     NB                25        50,499.52   - 74,723.53
     Project Development Planner                             NB                25        50,499.52   - 74,723.53
     Public Relations Specialist                             NB                22        44,842.41   - 66,351.82
     Purchasing Assistant                                     B                18        38,924.27   - 56,716.14
     Quality & Inventory Control Tech                         B                20        41,423.26   - 61,399.26
     Records Management Specialist                           NB                18        38,294.27   - 56,716.14
     Registration Services Supervisor                        NB                22        44,842.41   - 66,351.82
     Research Analyst                                        NB                21        43,184.67   - 63,844.50
     Safety Coordinator                                       B                25        50,499.52   - 74,723.53
     Safety Supervisor                                       NB                27        54,457.45   - 80,815.83
     Secretary                                                B                16        35,517.51   - 52,468.12
     Secretary – Chicago, WDC & Laughlin                     NB                16        35,517.51   - 52,468.12
     Security Dispatcher                                      B                15        34,087.70   - 50,499.52
     Security Officer                                         B                17        36,843.73   - 54,457.45
     Security Sergeant                                        B                22        44,842.41   - 66,351.82
     Senior Buyer                                             B                23        46,541.58   - 68,983.54
     Senior Financial Analyst                                NB                29        59,016.26   - 87,446.85
     Senior Help Desk Specialist                             NB                22        44,842.41   - 66,351.82
     Senior Research Analyst                                 NB                29        59,016.26   - 87,446.85
     Senior Web Developer                                    NB                31        63,844.50   - 94,595.93
     Service Worker                                           B                14        32,740.76   - 48,510.19
     Services Supervisor                                      B                22        44,842.41   - 66,351.82
     Skilled Crafts Supervisor                                B                25        50,499.52   - 74,723.53
     Skilled Craftsman                                        B                20        41,423.26   - 61,399.26
     Software Development Supervisor                         NB                32        66,351.82   - 98,305.15
     Staff Auditor                                           NB                22        44,842.41   - 66,351.82
     Support Systems Supervisor                              NB                32        66,351.82   - 98,305.15
     Surveillance Investigator                               NB                18        38,294.27   - 56,716.14


                                                            106
PERSONNEL ALLOCATION

             BARGAINING AND NONBARGAINING UNIT CLASSIFICATIONS (continued)
The salary schedule for the bargaining (B) positions is effective from 7/1/07 to 6/30/08. Contract negotiations are currently
underway for the new union contract.

                      CLASS TITLE                      CLASSIFICATION        GRADE           SALARY SCHEDULE
     Systems Administration Specialist                       NB                29        59,016.26   - 87,446.85
     Systems Technician                                      NB                22        44,842.41   - 66,351.82
     Telecommunications Supervisor                           NB                32        66,351.82   - 98,305.15
     Traffic Field Supervisor                                NB                22        44,842.41   - 66,351.82
     Transportation Coordinator                              NB                24        48,510.19   -  71,843.18
     Video Specialist                                         B                18        38,294.27   - 56,716.14
     Visitor Information Center Supervisor                   NB                22        44,842.41   - 66,351.82
     Visitor Information Clerk                                B                13        31,538.86   - 46,541.58
     Visitor Information Supervisor                          NB                25        50,499.52   - 74,723.53
     Web Content Coordinator                                 NB                23        46,541.58   - 68,983.54
     Web Publisher                                           NB                26        52,468.12   - 77,728.20




                                                            107
STATISTICAL DATA

                                       GENERAL FUND REVENUES BY SOURCE
                                            LAST TEN FISCAL YEARS

The schedule below includes only revenues earned in the general fund. It does not include other financing
sources such as operating transfers into the general fund or sale of fixed assets. The percentage shown in the
column boxes indicate the percent of increase or decrease for that column compared to the preceding year.

FISCAL          TOTAL                               ROOM TAX-                     CHARGES FOR                  GAMING                  INTEREST
 YEAR         REVENUES        ROOM TAXES          NRS 244 (S.B. 170)                    SERVICE                    FEES              AND OTHER


 1998         $118,296,737    $86,249,080   2%    $11,256,130             2%      $16,458,277       3%      $1,783,015     21%             $2,550,235
 1999          136,347,308     97,872,354 13%      12,777,779          14%          22,226,496    35%         1,722,086    -3%              1,748,593
 2000          149,507,345    120,536,301 23%        1,064,997        -92%          23,598,086      6%        1,775,145        3%           2,532,816
 2001          169,111,399    135,841,371 13%          ---------- -100% *           27,698,278    17%         2,085,169    18%              3,486,581
 2002          160,456,123    124,171,822   -9%        ----------         0%        32,483,745    17%         2,001,338    -4%              1,799,218
 2003          168,352,692    130,749,470   5%         ----------         0%        34,644,609      7%        1,881,540    -6%              1,077,073
 2004          193,181,748    153,119,151 17%          ----------         0%        37,353,827      8%        1,914,920        2%            793,850
 2005          224,770,553    176,339,258 15%          ----------         0%        45,056,357    21%         1,861,748    -3%              1,513,190
 2006          253,172,521    200,086,827 13%          ----------         0%        48,359,639      7%        1,963,608        5%           2,762,447
 2007          269,118,610    213,256,076   7%         ----------         0%        50,916,320      5%        1,949,332   -<1%              2,996,882




                         Room Tax Revenue
Millions
  250
  200
  150
  100
   50
    -
           1998 1999 2000 2001 2002 2003 2004 2005 2006 2007

                                   Room Taxes




                                                                                        Charges for Service Revenue
                                                                    Millions
                                                                60
                                                                50
                                                                40
                                                                30
                                                                20
                                                                10
                                                                 -
                                                                          1998   1999   2000 2001    2002   2003    2004 2005       2006     2007

                                                                                                         Charges for Service


*As of July 1, 1999, the special promotion room tax was diverted to the Clark County School District for new
school construction.



                                                                    108
STATISTICAL DATA


                                              GENERAL FUND REVENUES BY SOURCE
                                               LAST TEN FISCAL YEARS (continued)
The components of “Charges for Service” are shown below: the percentages shown in the column boxes
indicate the percent increase or decrease for that column compared to the preceding year.

                TOTAL                         CONVENTION CENTER                                         CASHMAN CENTER                             OTHER
FISCAL       CHARGES FOR               FACILITIES                 CATERING &                      FACILITIES                CATERING &             FEES &
 YEAR          SERVICE                  RENTAL                  CONCESSIONS                        RENTAL                 CONCESSIONS             CHARGES


 1998          $16,458,277         $10,490,812       2%           $2,924,680    -2%              $1,269,295     5%           $169,739     -5%     $1,603,751
 1999           22,226,496            14,375,925    37% **         3,814,495    30%               1,536,480    21% **         164,911     -3%      2,334,685
 2000           23,598,086            15,171,576     6%            3,810,119    <1%               1,677,482     9%            283,761    72%       2,655,148
 2001           27,698,278            19,035,306    26%            3,850,719    1%                1,885,896    15%            158,751 -44%         2,767,606
 2002           32,483,745            24,001,457    26%            4,067,516    6%                1,550,694 -18%              162,162      2%      2,701,916
 2003           34,644,609            25,807,382     8%            4,268,815    5%                1,919,459    24%            144,387 -11%         2,504,566
 2004           37,353,827            27,053,317     5%            5,415,860    3%                1,980,546     3%            178,041    23%       2,726,063
 2005           45,056,357            33,406,123    23%            6,899,231    27%               1,895,910    -4%            159,447 -10%         2,695,646
 2006           48,359,639            36,089,748     8%            6,493,289    -5%               1,968,685     3%            146,953     -7%      3,660,964
 2007           50,916,320            36,280,156    <1%            6,917,274    7%                2,182,678    11%            124,392 -15%         5,411,821

** Increase due to increase in rental rates at both facilities. The Convention Center expansion (i.e. additional
halls and meeting rooms) was also completed in FY 1999.


                     Facilities Rental - LVCC                                                        Catering & Concessions - LVCC
 Millions                                                                        Millions

 40                                                                                8
 35                                                                                7
 30                                                                                6
 25                                                                                5
 20                                                                                4
 15                                                                                3
 10                                                                                2
  5                                                                                1
  -                                                                                -
       1998 1999 2000 2001     2002    2003    2004 2005   2006    2007                  1998 1999     2000 2001 2002       2003 2004     2005 2006 2007

                               Facilities Rental - LVCC                                                        Catering & Concessions - LVCC




                    Facilities Rental - Cashman                                                    Catering & Concessions - Cashman
 Millions
 2.5                                                                               $300,000
 2.0                                                                               $250,000
                                                                                   $200,000
 1.5
                                                                                   $150,000
 1.0
                                                                                   $100,000
 0.5                                                                                  $50,000
  -                                                                                         $-
        1998 1999   2000 2001 2002     2003 2004 2005        2006 2007                           1998 1999 2000 2001 2002 2003 2004 2005 2006 2007

                           Facilities Rental - Cashman                                                         Catering & Concessions - Cashman

                                                                          109
STATISTICAL DATA

                                                   GENERAL FUND EXPENDITURES BY SOURCE
                                                           LAST TEN FISCAL YEARS

The schedule below includes only expenditures in the general fund. It does not include other uses such as
operating transfers for special revenue, debt service or capital project funds. The percentages shown in the
column boxes indicate the percent of increase or decrease for that column compared to the preceding year.
                                                                                                                                                REMAINING
    FISCAL              TOTAL                                                                                              COMMUNITY             SUPPLIES &
    YEAR             EXPENDITURES             PERSONNEL                ADVERTISING                   BUILDING                SUPPORT             SERVICES
                                               (A)                           (B)                       (C)                      (D)
     1998             $108,278,032       $25,735,398        0%         $27,033,664    5%           $3,739,289 -12%        $35,653,165   38%     $16,116,516
     1999              103,494,864           27,291,137     6%          28,039,590    4%            4,589,887   23%   *    27,572,800 -29% **    16,001,450
     2000              111,791,730           29,065,820     6%          34,359,091   23%            4,644,749   1%         26,694,290   3%       17,027,780
     2001              133,020,634           32,499,587    12%          48,196,736   40%            5,001,774   8%         27,376,226   3%       19,946,311
     2002              140,940,658           34,922,148     7%          60,058,012   25%            6,263,385   25%        20,807,260 -24%       18,892,853
     2003              140,863,330           35,723,305     2%          59,059,994    -2%           6,858,458   10%        21,511,863   3%       17,709,710
     2004              151,864,095           37,113,372     4%          64,831,141   10%            7,142,396   4%         24,388,640   13%      18,388,546
     2005              176,076,252           37,988,620     2%          78,027,753   20%            8,712,917   22%        28,753,093   18%      22,593,869
     2006              193,486,005           40,185,908     6%          82,732,989    6%            9,180,097   5%         34,248,193   19%      27,143,818
     2007              205,278,234           44,145,739    10%          84,506,694    2%           10,696,262   17%        38,416,171   12%      27,513,368


(A) The column labeled “Personnel” includes salaries and employee benefits.
(B) Advertising includes only the services and supplies.
(C) The “Building” column includes repairs and maintenance (excludes computers and portable equipment), utilities, and
    insurance costs for the Convention Center and Cashman Center. Many repair and maintenance items can only be
    performed when the buildings are empty which results in fluctuating costs from year to year.
(D) The “Community Support” column includes collection allocation, grants, and special events.


*          Increase due to construction and opening of new halls and meeting rooms.
**         Decrease due to loss of the 5/8 of 1% room tax that was restricted to the promotion of tourism and special events.


                      Expense Trend - Advertising                                                        Expenditures Trends
Millions                                                                        Millions
     100                                                                        50
      80                                                                        40
      60                                                                        30
      40                                                                        20
      20                                                                        10
       0                                                                         0
                                                                                     1998 1999 2000 2001 2002 2003 2004 2005 2006 2007
                                                                  07
                                         03

                                                04

                                                      05

                                                            06
                             01

                                   02
           98

                 99

                       00




                                                           20

                                                                 20
                                              20

                                                     20
                            20

                                  20

                                        20
      19

                19

                      20




                                                                                       Personnel                            Building
                                             Advertising                               Community Support                    Remaining Supplies & Services




                                                                                110
STATISTICAL DATA

                             GENERAL FUND EXPENDITURES BY SOURCE
                                LAST TEN FISCAL YEARS (continued)

The components of personnel expenditures are shown below. The percentages shown in the column boxes
indicate the percent of increase for that column compared to the preceding year.
                                                                                                       BENEFITS AS
       FISCAL         PERSONNEL        SALARIES                    EMPLOYEE                                A
        YEAR         EXPENDITURES     AND WAGES                     BENEFITS                           PERCENT OF
                                                                                                        SALARIES
        1998          25,735,398      19,787,987    2%              5,947,411      -6%                    30%
        1999          27,291,137      21,068,200    6%              6,222,937      5%                     30%
        2000          29,065,820      22,337,889    6%              6,727,931      8%                     30%
        2001          32,499,587      25,026,869    12%             7,472,718     11%                     30%
        2002          34,922,148      26,597,881    6%              8,324,267     11%                     31%
        2003          35,723,305      27,615,392    4%              8,107,913      -3%                    29%
        2004          37,113,372      28,220,780    2%              8,881,472     10%                     31%
        2005          37,988,620      28,746,860    2%              9,231,120      4%                     32%
        2006          40,185,908      30,285,218    5%              9,900,690      7%                     33%
        2007          44,145,739      33,251,674    10%            10,894,065     10%                     33%




                                           Salaries and Benefits
                 Millions
                50
                40
                30
                20
                10
                 0
                     1998   1999    2000    2001   2002     2003     2004       2005     2006   2007

                                            Salaries & Wages       Employee Benefits




                                                          111
STATISTICAL DATA

                                                            USE OF FACILITIES
                                                          LAST TEN FISCAL YEARS

The yearly increase in the number of convention delegates visiting Las Vegas is related to a rise in total
conventions held in the Las Vegas area. While many of those conventions and events are held at resort hotels,
the LVCVA has also benefited from activities held at the Las Vegas Convention Center and Cashman Center.
Facilities usage revenue does not include catering/concessions revenues or reimbursed services.


                                       LAS VEGAS CONVENTION CENTER - BUILDING UTILIZATION
                                                                                                                              FACILITIES
    FISCAL                                                                                          TOTAL                      USAGE
     YEAR           CONVENTIONS                           EVENTS             MEETINGS              ACTIVITIES                 REVENUE
     1998               57                                   7                 176                   240                     10,243,852
     1999               50                                  17                 106                   173                    *14,135,912
     2000               68                                  18                  84                   170                     14,848,193
     2001               68                                   4                  96                   168                     18,818,224
     2002               63                                   8                  17                   **88                   *23,841,647
     2003               79                                   3                  23                   105                     25,599,432
     2004               80                                   4                  24                   108                     26,877,290
     2005               74                                  12                  10                    96                     33,244,601
     2006               84                                  12                  10                   106                     35,825,314
     2007               78                                  15                   3                    96                     35,961,813
    Source: Las Vegas Convention and Visitors Authority – Convention Services and Finance departments

* Increase due to rental rate increase and expansion opening.
**2002 activity counts are based on an updated methodology that removes in-house meeting room events
    such as internal meetings and employee events.




                                              LVCC Activities vs. Facility Usage Revenue
                                                                                                   Millions
                                       300                                                           40
                                       250
                     # of Activities




                                                                                                           Facility Usage




                                                                                                      30
                                       200
                                                                                                             Revenue




                                       150                                                            20
                                       100
                                                                                                      10
                                       50
                                        0                                                             0
                                             1998 1999 2000 2001 2002 2003 2004 2005 2006 2007

                                                    Total Activities    Facilities Usage Revenue




                                                                       112
STATISTICAL DATA

                                                          USE OF FACILITIES
                                                   LAST TEN FISCAL YEARS (continued)

                                                CASHMAN CENTER - BUILDING UTILIZATION
                                                                                                                             FACILITIES
    FISCAL                                                                                          TOTAL                      USAGE
     YEAR           CONVENTIONS                            EVENTS            MEETINGS              ACTIVITIES                REVENUE
     1998               1                                   175                280                    456                    1,238,679
     1999               3                                   166                315                    484                    1,524,804
     2000               4                                   177                266                    447                    1,846,319
     2001               10                                  224                261                    495                    1,837,459
     2002               8                                   218                225                    451                    1,532,790
     2003               6                                   241                232                    479                    1,904,130
     2004               4                                   136                 77                   **217                   1,971,544
     2005               6                                   135                 62                    203                    1,884,378
     2006               4                                   137                 99                    240                    1,966,014
     2007               4                                   158                 95                    257                    2,157,445
    Source: Las Vegas Convention and Visitors Authority – Convention Services and Finance departments

**2004 activity counts are based on an updated methodology that removes in-house meeting room events
    such as internal meetings and employee events.




                                             Cashman Center Activities vs. Facility Usage
                                                            Revenue
                                                                                                     Millions

                                       600                                                            2.5
                     # of Activities




                                       500                                                                  Facility Usage
                                                                                                      2
                                       400                                                                    Revenue
                                                                                                      1.5
                                       300
                                                                                                      1
                                       200
                                       100                                                            0.5
                                         0                                                            0
                                             1998 1999 2000 2001 2002 2003 2004 2005 2006 2007

                                                    Total Activities    Facilities Usage Revenue




                                                                       113
STATISTICAL DATA


                                 EXCERPT OF RENTAL RATES PER FACILITY
In mid-FY 2002, the Board of Directors approved rental rate increases at both the Las Vegas Convention Center
and Cashman Center. Below is a basic rate guide. Events and trade show/conventions that already had
signed lease agreements prior to January 1, 2002 were honored at the previous rates.

LAS VEGAS CONVENTION CENTER

CONVENTION/TRADE SHOW AND PUBLIC EVENTS
When used for commercial exhibits, the cost per individual exhibit hall is either the minimum daily rate (ranges
from $5,500 to $30,500) or $.25 per net square foot, whichever is greater. Exhibit halls used for catered food
functions only are at no charge. The total number of move in/move out days equal to one (1) times the
number of show days are at no charge. Additional move in/move out days are at 50% of the minimum daily
rate per day. Beginning in FY10, the net square foot cost will increase to $.29, and in FY13 the net square foot
cost will increase to $.34.
When exhibit halls are used for commercial exhibits and meeting rooms are used for association's use, meeting
rooms will be provided in the amount of 10 complimentary meeting rooms per 100,000 square feet of exhibit
space used. Additional rooms will be charged the minimum daily room rate (ranges from $125 to $1,475). This
includes a one-time set-up per day – i.e. lights, heat, air, custodial and sound services (one microphone per
room). Change-overs and revised room set-ups will be charged the daily room rate. Meeting rooms used by
exhibitors are charged the daily rate. Exhibit halls used for meetings without commercial exhibits are charged
twice the daily rate. If meeting rooms are sublet, a fee will be charged. Rental of meeting rooms only is at the
daily rate.
Parking fees are $10.00 per space per day with in and out privileges.

CASHMAN CENTER

CONVENTION/TRADE SHOW
Exhibit hall rates are based on $0.25 per net square foot or $6,130 minimum. The total days of move-in/move-
out equal the number of actual show days (minimum two days at no charge). Extra move-in/move-out days
are at 50% of the minimum daily rate.
Meeting rooms are $300 per day and leased at three levels:
      (1) Used by a lessee for their association meetings only will be charged at the minimum daily rate.
      (2) Sublet by the lessee for meetings only will be charged the minimum daily rate or 15% of their
          sublease rate, whichever is greater.
      (3) Used for exhibit space or registration areas will be charged at twice the minimum daily rate.
PUBLIC EVENT
Exhibit hall rates are set at $3,000 per day for each hall or 12% of gross admission receipts, whichever is greater.
Extra move-in/move-out days are charged at 50% of the minimum daily rate for activity days for all events less
than two days duration.
Meeting room rental rates are $300 per day ($800 per day if using the Club Level Restaurant) or 12% of gross
admission receipts, whichever is greater.
The stadium rental rate is $4,000 per day vs. 12% of gross admission receipts, whichever is greater. The daily
field rate (restricted use) is $500 per day.
The theater rental rate for performances is $2,500 per day vs. 12% of gross admission receipts, whichever is
greater. Business meeting use rate for the theater is $1,250 per day. Dress rehearsals performed prior to actual
show days are charged 50% of the minimum daily rate.
Parking fees are $3.00 per car per day with no in and out privileges. As referenced against closed-to-the-public
conventions and trade shows, public invited events come in a wide variety of compositions and are subject to
different rate classifications: full rental, half rental and cost reimbursable.
                                                        114
STATISTICAL DATA

                               DEMOGRAPHIC STATISTICS - CLARK COUNTY, NEVADA
                                          LAST TEN FISCAL YEARS
Even though Clark County combines the glamorous gaming and entertainment mecca of Las Vegas alongside
rural living, it is not much different from other counties its size. There are parks, museums, libraries and religious
centers.
The median age of the population is 50.1, with
approximately 23.9% of the total population under
18 years of age. The Clark County School District is
the 5th largest in the nation. It has a total of 341
schools. The median household income is $53,704
and 68.6% of the residents are homeowners.
Per the Census Bureau, Clark County is the nation’s
16th most populous county in the United States. This
is evident in that 55.1% of the population has lived
here over ten years, and almost 50 newcomers
arrive daily. The population in FY 2007 increased by
4.2% over FY 2006.
                     Incorp-                         Square
                     oration          2007            Miles
Entity                Date          Population      (approx.)
Clark County           1909          858,715          8,260
                                                                                 Clark
Las Vegas              1911          590,321           110                      County,
N. Las Vegas           1946          210,472           80                       Nevada
Henderson              1953          260,161           96
Boulder City           1958           15,863           200                Source: www.co.clark.nv.us/ceit/gismo/gismo
Mesquite               1984           18,787           15                 Further statistics that reflect the local economy are
                                                                          shown below.
Source: population estimates - Nevada State Demographer.

                                         LABOR        UNEMPLOY-                            MEDIAN                          SCHOOL
    AS OF        POPULATION              FORCE          MENT RATE           AS OF        HOUSEHOLD         MEDIAN       ENROLLMENT
  JUNE 30,             (A)                 (B)               (B)           DEC 31,        INCOME             AGE              (C)
    1998                1,261,150       665,800              4.6%            1998           40,958           47.5           239,064
    1999                1,327,145       704,870              4.6%            1999           41,875           46.6           216,237
    2000                1,394,440       724,110              4.7%            2000           41,657           48.5           231,125
    2001                1,485,855       757,910              5.3%            2001           43,787           46.3           257,754
    2002                1,549,657       781,800              6.1%            2002           45,607           47.8           269,382
    2003                1,620,748       805,300              5.8%            2003           44,307           48.4           283,885
    2004                1,715,337       834,230              4.8%            2004           47,097           47.5           295,165
    2005                1,796,380       875,710              4.3%            2005           47,320           47.9           304,444
    2006                1,874,837       922,420              4.3%            2006           53,111           47.5           315,697
    2007                1,954,319       958,400              4.7%            2007           53,704           50.1           323,037
Sources:
   (A) June 30 population estimates from the Nevada State Demographer.
   (B) June 30 labor force statistics and unemployment rates from the Nevada Dept. of Employment, Training & Rehabilitation – Information
   Development & Processing Division – Research & Analysis Bureau. (figures rounded)
   (C) Total public, private and parochial school enrollment for FY 1998 – 2003 are from the Nevada Department of Education,
   Administrative & Fiscal Services. FY 2004 – 2007 is from the Las Vegas Perspective.
   All other statistics are as of December 31 and are from the Las Vegas Perspective.




                                                                    115
STATISTICAL DATA

                                                  VISITOR ANALYSIS
                                              LAST TEN CALENDAR YEARS

In its role of promoting Las Vegas as a travel destination, the LVCVA contributes to the growth of the entire
local economy. The Las Vegas economy is heavily dependent on the hotel/gaming/recreation industry, which
employs 29.3% of the labor force. The health of the hotel/gaming industry is directly related to the volume of
visitors, presented below. The number of visitors to Las Vegas has grown by 28% since 1998.

                                                % OF                         % OF
        CALENDAR         CONVENTION            TOTAL                        TOTAL           TOTAL          INCREASE/
          YEAR            DELEGATES           VISITORS      TOURISTS       VISITORS        VISITORS       (DECREASE)
           1998            3,301,705           10.8%       27,303,423          89.2%       30,605,128           0.5%
           1999           3,772,726            11.2%       30,036,408          88.8%       33,809,134          10.5%
           2000           3,853,363            10.7%       31,996,328          89.3%       35,849,691           6.0%
           2001           5,014,240*           14.5%       30,003,077          85.5%       35,017,317          (2.3%)
           2002           5,105,450*           14.6%       29,966,054          85.4%       35,071,504           0.2%
           2003           5,657,796            15.9%       29,882,330          84.1%       35,540,126           1.3%
           2004           5,724,864            15.3%       31,663,917          84.7%       37,388,781           5.2%
           2005           6,166,194            16.0%       32,400,523          84.0%       38,566,717           3.2%
           2006           6,307,961            16.2%       32,606,928          83.8%       38,914,889           0.9%
           2007           6,209,253            15.8%       32,987,508          84.2%       39,196,761           0.7%

    Source: Las Vegas Convention and Visitors Authority, Marketing Division – Internet Marketing & Research

     * - 2002 convention delegate counts are based on an updated methodology that reflects significant growth in the
small meetings market. 2001 counts were revised retroactively using the new methodology.



                                                         Total Visitors
        Million

         40

         30

         20

         10

          0
                  1998    1999         2000      2001       2002        2003      2004       2005       2006      2007

                                                 Convention Delegates           Tourists




                                                             116
STATISTICAL DATA

                                                                VISITOR ANALYSIS
                                                       LAST TEN CALENDAR YEARS (continued)

Strong visitor levels produce beneficial secondary effects in other industries, as well, since visitors purchase a
significant amount of goods and services while they visit the area. Visitors to Las Vegas in 2007 contributed
nearly $41.6 billion to the economy of the area. Indicators of the economic impact include total gaming
revenues in Clark County and room taxes collected on behalf of the LVCVA.

                                                                             GAMING                           ROOM
                         CALENDAR           TOTAL         INCREASE/          REVENUES        INCREASE/        TAXES        INCREASE/
                           YEAR            VISITORS      (DECREASE)            (000)        (DECREASE)    (Fiscal Year)   (DECREASE)
                             1998         30,605,128            0.5%         6,346,958         3.2%        86,249,080           1.8%
                             1999         33,809,134           10.5%         7,209,032        13.6%        97,872,354          13.5%
                             2000         35,849,691            6.0%         7,671,252         6.4%       120,536,301          23.2%
                             2001         35,017,317           (2.3%)        7,636,547        (0.5%)      135,841,371          12.7%
                             2002         35,071,504            0.2%         7,630,542        (0.1%)      124,171,822          (8.5%)
                             2003         35,540,126            1.3%         7,830,856         2.6%       130,749,470           5.3%
                             2004         37,388,781            5.2%         8,710,976        11.2%       153,119,151          17.1%
                             2005         38,566,717            3.2%         9,709,408        11.5%       176,339,258          15.2%
                             2006         38,914,889            0.9%        10,643,206          9.6%      200,086,827          13.5%
                             2007         39,196,761            0.7%        10,868,029          2.1%      213,256,076           6.6%

                         Source: Las Vegas Convention and Visitors Authority, Marketing Division – Internet Marketing & Research
                                 Nevada State Gaming Control Board




                                                               Total Visitors vs. Room Taxes

                         45,000,000                                                                                       $250,000,000
                         40,000,000




                                                                                                                                         Room Tax Revenue (FY)
                         35,000,000                                                                                       $200,000,000
    # of Visitors (CY)




                         30,000,000
                                                                                                                          $150,000,000
                         25,000,000
                         20,000,000
                                                                                                                          $100,000,000
                         15,000,000
                         10,000,000                                                                                       $50,000,000
                          5,000,000
                                    0                                                                                     $-
                                        1998   1999     2000      2001    2002      2003   2004   2005   2006    2007

                                                                   Total Visitors      Room Taxes




                                                                                 117
STATISTICAL DATA

                                        VISITOR DEMOGRAPHIC STATISTICS
                                             LAST TEN FISCAL YEARS

The Las Vegas Convention and Visitors Authority conducts and compiles various research information on visitors
to gain a better understanding of the composition of the Clark County visitor and to tailor advertising
campaigns. The median age is 49 with 29% of visitors between the ages of 21 to 39, 42% between 40 and 59,
and 29% over 60. The majority of visitors are married and employed. Further statistics regarding visitors to Las
Vegas are shown below:
          AS OF        GENDER           MEDIAN                MARITAL STATUS                      JOB CATEGORIES
         JUNE 30,   Male    Female        AGE          Married      Single      Other*    Employed    Retired   Other**

          1998       47%      53%         49.2          70%            18%       12%        64%        27%         10%
          1999       47%      53%         49.9          71%            18%       10%        65%        28%         9%
          2000       43%      57%         50.4          70%            17%       13%        64%        28%         8%
          2001       47%      53%         48.2          70%            18%       12%        67%        25%         8%
          2002       52%      48%         47.6          70%            17%       13%        64%        27%         9%
          2003       50%      50%         50.2          73%            16%       11%        64%        30%         6%
          2004       52%      48%         49.0          73%            17%       10%        67%        26%         7%
          2005       51%      49%         47.7          74%            16%       10%        67%        24%         9%
          2006       52%      48%         48.0          79%            14%        7%        70%        24%         6%
          2007       50%      50%         49.0          79%            14%        7%        67%        26%         7%

        Source: Las Vegas Visitor Profile Study - Data from 1998-2002 was based on fiscal year July – June. Beginning in
        2003 data is based on a calendar year.
        *Martial Status - Other includes separated, divorced or widowed.
        ** Job Categories Other includes student, homemaker or unemployed.
                                                                 UNITED STATES OF AMERICA
                                AS OF                     Eastern   Southern Midwestern Western
                               JUNE 30,    FOREIGN        States       States    States      States

                                 1998            13%       10%          13%       16%         48%
                                 1999            11%       10%          12%       18%         48%
                                 2000            13%        9%          13%       18%         48%
                                 2001            12%        9%          13%       15%         51%
                                 2002            8%         9%          12%       15%         55%
                                 2003            12%        8%          12%       16%         52%
                                 2004            13%        9%          13%       17%         48%
                                 2005            12%        9%          13%       14%         52%
                                 2006            13%        8%          13%       14%         52%
                                 2007            12%        9%          13%       14%         52%

                              Source: Las Vegas Visitor Profile Study – Data from 1998-2002 was based on fiscal year July-
                              June. Beginning in 2003 data is based on a calendar year.
Eastern states: Connecticut, Delaware, District of Columbia, Maine, Maryland, Massachusetts, New Hampshire, New Jersey,
New York, Pennsylvania, Rhode Island, and Vermont.
Southern States: Alabama, Arkansas, Florida, Georgia, Kentucky, Louisiana, Mississippi, North Carolina, Oklahoma, South
Carolina, Tennessee, Texas, Virginia, and West Virginia.
Midwestern States: Illinois, Indiana, Iowa, Kansas, Michigan, Minnesota, Missouri, Nebraska, North Dakota, Ohio, South
Dakota, and Wisconsin.
Western States: Alaska, Arizona, California, Colorado, Hawaii, Idaho, Montana, Nevada (excluding Clark County), New
Mexico, Oregon, Utah, Washington, and Wyoming.
                                                                 118
STATISTICAL DATA

                                          PRINCIPAL ROOM TAX PAYERS
                                              DECEMBER 31, 2007


The primary source of revenue for the LVCVA is from room taxes imposed on hotels and motels in Clark County.
The hotels listed below represent the ten largest hotel properties in Clark County and, accordingly, are in the
group that generates the greatest volume of room taxes for the LVCVA.


                                                                         Rooms at
                                                                        December 31
                         MGM Grand                                          5,034
                         Luxor                                              4,408
                         Mandalay Bay (including THEhotel)                  4,328
                         Venetian                                           4,027
                         Excalibur                                          3,991
                         Bellagio                                           3,933
                         Circus Circus                                      3,763
                         Flamingo Las Vegas                                 3,565
                         Caesar’s                                           3,348
                         Mirage                                             3,044
                             Total Top 10 Hotels                           39,441
                         Total Jean/Primm                                   3,454
                         Other hotels/motels                               90,052
                         Total Las Vegas metropolitan area                132,947
                         Total Laughlin                                    10,696
                         Total Mesquite                                     2,729
                         Total Inventory of Rooms                         146,372*

Source: Las Vegas Convention and Visitors Authority, Marketing Division – Internet Marketing & Research
Note: Other hotels/motels does not include timeshare properties.
*Does not included Palazzo which opened January 17, 2008 with approximately 3,000 rooms.




                                                           119
STATISTICAL DATA



                                                OCCUPANCY RATE
                                            LAST TEN CALENDAR YEARS

In spite of the increasing availability of rooms, the occupancy rate for Las Vegas continues to grow, exceeding
the national average by 27.2 points for calendar year 2007.

                                                                                                      National
                                         Rooms                        Occupancy                      Occupancy
       Calendar Year                    Available*                    Percentage                     Percentage
           1998                          109,365                          85.8                           63.8
           1999                          120,294                          88.0                           63.3
           2000                          124,270                          89.1                           63.7
           2001                          126,610                          84.7                           60.1
           2002                          126,787                          84.0                           59.1
           2003                          130,482                          85.0                           59.2
           2004                          131,503                          88.6                           61.3
           2005                          133,186                          89.2                           63.1
           2006                          132,605                          89.7                           63.4
           2007                          132,947                          90.4                           63.2

Source: Las Vegas Convention and Visitors Authority, Marketing Division – Internet Marketing & Research
* Total Las Vegas metropolitan area includes properties in the Jean/Primm area.




                                 Las Vegas Occupancy vs National Occupancy

                        100.0%
                         90.0%
                         80.0%
                         70.0%
                         60.0%
                         50.0%
                         40.0%
                                  1998 1999 2000 2001 2002 2003 2004 2005 2006 2007

                                        Las Vegas Occupancy Rate       National Occupancy Rate




                                                           120
STATISTICAL DATA


                             ROOM TAX RATE DISTRIBUTION BY JURISDICTION
                                         AS OF JUNE 30, 2008


                                          CLARK COUNTY                                LAS VEGAS
                                              Others   Others
                                   Resort     Within  Outside               Down-        Resort
                                   Hotels    35 miles 35 miles              town         Hotels      Others
         Distributed to:
State of Nevada                      3/8         3/8          3/8            3/8          3/8          3/8
Clark County School District        1 5/8       1 5/8        1 5/8          1 5/8        1 5/8        1 5/8
Collecting Jurisdiction               1           2            2              1            1            2
County Transportation*                1           1            1              1            1            1
Fremont St. Experience**              0           0            0            2 or 1         0            0
LVCVA                                 5           4            2              5            5            4
   Total Room Tax Rate                9           9            7           11 or 10        9            9

                                Reference to miles – is distance from Las Vegas Convention Center.

                                  NORTH LAS VEGAS              HENDERSON                BOULDER CITY            MESQUITE
                                   Resort                    Resort                    Resort
                                   Hotels  Others            Hotels  Others            Hotels  Others                 All
         Distributed to:
State of Nevada                     3/8         3/8            3/8        3/8            3/8        3/8             3/8
Clark County School District       1 5/8       1 5/8          1 5/8      1 5/8          1 5/8      1 5/8           1 5/8
Collecting Jurisdiction              1           2              2          2              0          0               2
County Transportation*               1           1              1          1              1          1               1
LVCVA                                5           4              5          4              6          4               4
   Total Room Tax Rate               9           9             10          9              9          7               9


Source: Annual City/County Transient Lodging Tax Report as filed with the State of Nevada – Department of Taxation.
* enacted by the Clark County Commission in 1991.
** enacted by the Las Vegas City Council in 1993. The Fremont Street Experience is a downtown revitalization project. This
    room tax applies only to properties within a specified geographic area.


                               RESORT HOTEL DEFINITIONS BY JURISDICTION

Clark County – An establishment having a casino                  Henderson – An establishment renting rooms and
containing not less than three games.                            having a casino on the same premises containing
                                                                 not less than three games.
Las Vegas – A hotel having seventy-five or more
                                                                 Boulder City – An establishment having one
rooms.
                                                                 hundred or more rooms.
North Las Vegas – A hotel having one hundred or
                                                                 Mesquite – No distinction between resort hotels and
more rooms and a casino containing not less than
                                                                 other transient lodging establishments.
three games.




                                                           121
GLOSSARY
The annual budget contains terminology unique to governmental finance and budgeting. To assist the
reader of the budget document in understanding these terms, the following glossary has been compiled.

Account Group
      A self-balancing set of accounts that have no expendable financial resources. Account
      groups are used to maintain records of general long-term debts and general fixed assets.
Accounting System
      The total set of records and procedures that are used to record, classify, and report
      information on the financial status and operations of an organization.
Accrual Basis Accounting
      A system of accounting in which revenues and expenses are recorded as they are earned
      and incurred, not necessarily when cash is received or paid.
Activity
        A financial and budgeting classification of similar endeavors or groupings of organizational
        units performing a specific and distinguishable type of work. In the LVCVA’s organizational
        chart, activities generally relate to departments.
Appropriation
      An authorization made by the Board of Directors that permits the LVCVA to incur obligations
      and to make expenditures of resources.
Augmentation
     An action increasing total appropriations. Augmentations are governed by State statute
     and require formal resolution by the Board of Directors.
Balanced Budget
      A budget in which proposed funds or revenues available are equal to or exceed planned
      fund expenditures.
Bond
         A written promise to pay a sum of money on a specific date at a specified interest rate. The
         interest payments and the repayment of the principal are detailed in a bond ordinance.
Budget
         A financial plan for a specified period of time (fiscal year).
Budget Document
       The instrument prepared by the Finance Department and supporting staff that presents a
       comprehensive proposed budget to the Board of Directors.
Budget Message
       The opening section of the budget document that provides a general summary of the most
       important aspects of the budget and discusses significant changes from the current and
       previous fiscal years.
Budgetary Control
      The control or management of a governmental unit in accordance with an approved
      budget for the purpose of keeping expenditures within the limitations of authorized
      appropriations and available resources.
CAFR
         Abbreviation for Comprehensive Annual Financial Report.
CC
         Abbreviation for Cashman Center.
Capital Asset
       A financial resource meeting all of the following criteria: (1) generally tangible in nature
       (software is the exception); (2) useful life greater than one year; (3) not a repair part or
       supply item; and (4) original cost greater than the capitalization threshold.


                                                          122
GLOSSARY

Capital Budget
       A plan of proposed capital outlays and the means of financing them.
Capital Expenditure (aka Capital Outlay)
       A purchase or improvement of a tangible fixed asset (i.e. land, buildings, furniture) with a
       cost of $500 or more and a useful life of at least one year.
Capital Improvement Plan
       A financial planning and management tool that lists proposed capital projects and capital
       acquisitions for a rolling five-year period.
Capital Projects Fund
       A fund used to account for financial resources to be used for the acquisition or construction
       of capital assets.
Capitalization Threshold
       The level of cost at which an asset becomes subject to control and reporting as a fixed asset.
Cash Basis Accounting
      A system of accounting in which transactions are recorded, and revenues and expenses
      are recognized, only when cash is received or paid.
Commercial Paper
    A short-term negotiable paper arising from business transactions.
Coterminous
      In conjunction with term of office.
Debt Service Fund
       A fund established to account for the accumulation of resources for and the payment of
       principal and interest on general long-term debt.
Debt Service Requirements
       The amount of resources that must be provided so that all principal and interest payments
       can be made in full on schedule.
Defeased
      Retirement of debt of a state or local governmental unit in an indirect manner.
Department
      A grouping in the organizational structure of related sections or units.
Depreciation
      The process of allocating the cost of tangible property over a period of time, rather than
      expensing the entire cost in one year. Generally, at the end of an asset’s useful life, the net
      value of the asset (original cost less accumulated depreciation) will equal the salvage value
      of the asset.
Division
        A major grouping in the organizational structure of related activities within a functional
        area.
EFT
       Abbreviation for electronic funds transfer; an automated means of payment.
Employee Benefits
      A budget category that is comprised of retirement, insurance, unemployment and
      educational assistance expenses.
Encumbrance
     The legal commitment of appropriated funds to purchase an item or service. To encumber
     means to set aside or commit funds for a future expenditure.




                                                       123
GLOSSARY


Expenditure
      The amount of cash paid or to be paid for a service rendered, goods received or an asset
      purchased.
Fam
        Abbreviation for familiarization trip.
Fiduciary Fund Type
       A fund used to account for assets held by a government in a trust capacity or as an agent
       for others.
Fiscal Year
        A consecutive twelve-month period signifying the beginning and ending period for
        recording financial transactions. The LVCVA has designated July 1 to June 30 as its fiscal
        year.
Fixed Asset
       See capital asset.
FTE
        Abbreviation for full-time employees.
FYE
        Abbreviation for fiscal year ending.
Function
       Financial and budgeting classification of a group of related activities aimed at
       accomplishing a broad goal or a major service. In the LVCVA's organizational chart,
       functions generally relate to divisions.
Fund
        A separate self-balancing accounting entity. Resources are allocated to and accounted
        for in a particular fund based on the purposes of expenditures and the means of controlling
        them.
Fund Balance
       The excess of an entity's assets over its liabilities.
GAAP (Generally Accepted Accounting Principles)
      A body of accounting and financial reporting standards set by the Governmental
      Accounting Standards Board (GASB) for state and local governments, and by the Financial
      Accounting Standards Board (FASB) for private sector organizations.
General Fund
      The general fund accounts for all of the financial resources not specifically accounted for in
      another fund.
General Obligation Bonds
      G.O. bonds have the full faith and credit of the LVCVA pledged to the repayment of the
      bonds. They are primarily secured by ad valorem taxes and are additionally secured by net
      pledged revenues of the LVCVA, represented basically by room taxes. The LVCVA has
      never resorted to the use of property taxes for debt service, using only net pledged
      revenues derived from operations. In fact, no ad valorem property tax revenues are
      allocated to the LVCVA for any purpose.
GFOA
        Abbreviation for Government Finance Officers Association.
Goal
        A statement of broad direction, purpose, or intent.




                                                           124
GLOSSARY




Governmental Fund Type
      A fund used to account for general governmental activities. Includes the general fund,
      capital projects funds, and debt service funds.
Grant
        A contribution or gift to be used or expended for a specified purpose or activity.
Green Items
       Products and services with reduced effects on human health and the environment.
Intranet
        A network operating like the Internet but having access restricted to a limited group of
        authorized users (such as employees of a company).
Inventory
       The process of verifying physical fixed assets with records of fixed assets.
LEED
        Abbreviation for Leadership in Energy and Environmental Design. A voluntary, consensus-
        based national standard for developing high-performance, sustainable buildings.
LGBT
        Abbreviation for Lesbian, Gay, Bisexual and Transgender.
LVCC
        Abbreviation for Las Vegas Convention Center.
Las Vegas Territory
       Refers to the area that encompasses the City of Las Vegas and surrounding towns and
       cities located within Clark County.
Line-Item Budget
        A budget that lists each expenditure category (salary, telephone, travel, etc.) separately,
        along with a dollar amount budgeted for each specific account.
Long-Term Debt
       Debt with a maturity of more than one year after the date of issuance.
Modified Accrual Accounting
       A basis of accounting. Revenues are recognized, and any related receivable is recorded,
       when they become both measurable and available. Expenditures are recognized when
       the liability is incurred, except for unmatured principal and interest on long-term debt,
       which is recognized when due.
MPEP
        Abbreviation for the Master Plan Enhancement Project. This project includes construction of
        a Las Vegas Metropolitan Police substation, a fire station and the connection of the existing
        buildings, and upgrading building and technology systems. The project is scheduled to be
        complete in 2011.
NRS
        Abbreviation for Nevada Revised Statutes.
Objective
       A statement of specific direction, purpose, or intent based on the goals established for a
       particular function.
Operating Budget
       The portion of the budget that pertains to daily operations. The operating budget contains
       appropriations for such expenditures as personnel, supplies, utilities, materials, travel, and
       fuel.

                                                        125
GLOSSARY




Operating Transfer
       Legally authorized transfers from a fund receiving revenue to the fund through which the
       resources are to be expended.
Organizational Unit
       Financial and budgeting classification for a responsibility unit within a government.
       Organizational units, which relate to sections in the structure of the LVCVA are the basic unit
       of the operating budget.
Original Cost
       The invoice amount paid to the supplier of an item plus any other costs incurred to make
       the item capable of being used. Original cost includes shipping and installation.
PERS
       Abbreviation for Public Employees Retirement System.
P/R
       Abbreviation for public relations.
Purchase Order
      A document authorizing the delivery of specific merchandise or the rendering of specific
      services.
Residual Equity Transfer
       Nonrecurring or non-routine transfer of equity between funds. It does not represent
       expenditures of the transferring fund, but may represent the creation or expansion of a fund
       or the liquidation or contraction of a fund.
Resources
       Total dollars available for appropriations including estimated revenues, fund transfers, and
       beginning fund balances.
Revenue Bonds
      Bonds that pledge a specific dedicated revenue source for their repayment.
Revenues
      Resource increases from the sale of services or goods derived primarily from normal
      operations.
S.B. 170
        The name given to the 5/8% portion of the 1% tax imposed by the Nevada legislature in
        1984, which was restricted for the promotion of tourism and special events in Nevada.
Salaries and Wages
        A budget category comprised of all full-time and temporary employee salaries including
        overtime and retirement payouts.
Salvage Value
      The amount for which the asset could be sold at the end of its useful life.
Services and Supplies
       A budget category that includes those goods and services that are consumed and
       purchased on a regular basis (i.e. office supplies, utilities, repair and maintenance).
Tangible
       An item capable of being touched.
Useful Life
        The estimated number of months or years that an asset will be able to be used for the
        purpose for which it was purchased.

                                                       126

				
DOCUMENT INFO
Shared By:
Stats:
views:1683
posted:10/6/2008
language:English
pages:136
Description: This is an example of las vegas on a budget. This document is useful for studying las vegas on a budget.