The LVCVA’s financial results for the first quarter of FY 2012 (July through September) reflect a continuing trend of stability and moderate recovery. Key results at the end of the quarter as compared to the same period last year:

• Room tax revenue is up 17.8%
• Visitor volume is up 4.7%
• Average daily rate is up 13.2%
• Average Number of Rooms Occupied Daily is up 5.1%

Room tax was conservatively budgeted to remain flat in FY 2011; however, FY 2011 room tax revenues exceeded FY 2010 by nearly 14%. Room tax revenue has continued that improving trend during the first quarter of FY 2012. As of September 2011, room tax has exceeded expectations each month for the past eighteen consecutive months. Although we are delighted at the increases, revenues have not yet returned to peak year levels and the threat of another recessionary ‘dip’ is a constant fiscal moderator.

The LVCVA developed and implemented a nine-point plan to incrementally restore funding as revenue streams grow and prove sustainable. Priority funding will be allocated to advertising the destination, rebuilding fund balance and reserves, and reducing the impact on personnel and restoring operating budgets.

The environment for the Las Vegas region-wide economy continues to be bumpy, with mixed results across the quarter and across key indicators. The Southern Nevada Index of Leading Economic Indicators (SNILEI) reported increases in the overall index for July and August, while September slipped by 0.68. The SNILEI measures changes in multiple activities, including residential and commercial building permits, taxable sales, air passengers emplaned and deplaned, gross gaming revenues, gasoline sales, unemployment, visitor volume and convention attendance.

Management continues to monitor our financial position daily and is encouraged by each positive signal.

1. Financial Status October 2011

1. Comprehensive Annual Financial Reports (CAFRs)

   The Government Finance Officers Association of the United States and Canada (GFOA) awarded a Certificate of Achievement for Excellence in Financial Reporting to the LVCVA for its Comprehensive Annual Financial Report for the year ended June 30, 2010. This Certificate of Achievement is a prestigious award recognizing conformance with the highest standards for the preparation of state and local government financial reports. To be awarded the Certificate of Achievement, a governmental unit must publish an easily readable and efficiently organized comprehensive annual financial report whose contents conform to the program standards. The CAFR must satisfy both generally accepted accounting principles and applicable legal requirements. A Certificate of Achievement is valid for a period of one year only. The LVCVA has received this award for the past 27 consecutive years (fiscal years ended 1984 - 2010)

   1. FYE 6/30/2007
   2. FYE 6/30/2008
   3. FYE 6/30/2009
   4. FYE 6/30/2010
   5. FYE 6/30/2011
   
   
2. Popular Annual Financial Report (PAFR)

   The Popular Annual Financial Report summarizes the LVCVA's financial activities and performance results in a format specifically designed to be readily accessible and easily understandable to the general public and other interested parties without a background in public finance. The PAFR is an unaudited report and presented on a non-GAAP basis. It is a condensed and simplified presentation that does not include all the required financial presentations or notes to the financial statements. It is intended to simplify, but not to replace the CAFR. The LVCVA has received the Award for Outstanding Achievement in Popular Annual Financial Reporting for its June 30, 2010 PAFR from the Government Finance Officers Association (GFOA).

   1. FYE 2007
   2. FYE 2008
   3. FYE 2009
   4. FYE 2010
   5. FYE 2011
   
   
3. SEC Disclosure (updated January 28, 2011)
   
   

1. Annual Budgets

   The Government Finance Officers Association of the United States and Canada (GFOA) awarded a Distinguished Budget Presentation Award to the LVCVA for its annual budget for the fiscal year beginning July 1, 2011. 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 communicative device. The award is valid for a period of one year only. The LVCVA has received this award for the past 22 consecutive years.

   1. FY 2008/2009
   2. FY 2009/2010
   3. FY 2009/2010 - CIP
   4. FY 2010/2011
   5. FY 2011/2012
   
   

1. Quarterly Budget & Statistical Reports
   1. June 30, 2010
   2. September 30, 2010
   3. December 31, 2010
   4. March 31, 2011
   5. June 30, 2011
   6. September 30, 2011
   
   
2. Monthly & YTD Visitors Statistics
   1. Current Month
   2. YTD for 2011
   
   

1. Financial Management Policy (updated September 2011)
   
   
2. Debt Compliance Policy
   
   
3. Debt Management Policy (updated July 2011)
   
   
4. Investments
   1. Investment Policy
   2. Broker/Dealer Questionnaire
   3. Investment Agreement Form
   
   

1. Contact the Finance Department