You may have seen recent media coverage regarding the economic viability of the RSCVA. The RSCVA Board of Directors is looking at a number of scenarios and funding models, as we work to make the best operational decisions in light of decreased room tax revenues. A thorough review of any organizational plan surrounding COVID-19 includes the worst-case scenario, much of which has been featured in local media this past week.
Due to strategic planning by the RSCVA Board and staff, in response to challenges presented by The Great Recession, the RSCVA is in a relatively strong financial position. Projections show that this organization has enough reserves to continue operations through the calendar year, and we are working through alternative solutions to further that timeline. This Friday, the Finance Committee will continue exploring budget scenarios, and may send recommendations to the full board to decide before the end of the month.
Below you will find additional updates from the previous week, as we continue working toward the eventual recovery of our tourism and business community. Please reach out to us with any comments or questions you may have.