Board of Directors Regular Meeting Agenda


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Meeting Date: 09/24/2014  

SUBJECT MATTER:
Receive, consider and act upon a recommendation from the Audit Committee regarding acceptance of the Convention Center Booking and Blocking Agreed-Upon Procedures Report for 2012;
FISCAL IMPACT:
not applicable
BACKGROUND:
In 2001, the “Convention Center Booking and Blocking Agreement” was executed to ensure that The Woodlands Waterway Marriott Hotel and Convention Center (“Convention Center”) would be effectively utilized as it related to the booking of conventions, events, activities, and the accompanying hotel rooms associated with those bookings.  Due to the complexity of the booking rules, a compliance review is conducted annually by an independent accounting firm to determine whether the booking agent (currently Marriott) is in compliance with the agreement’s booking rules and performance standards. 
 
The 2012 compliance review was conducted by the accounting firm of Karlins Ramey & Tompkins, LLC.  Representatives from the firm presented the results of the compliance review to the Audit Committee on September 16, 2014.  The compliance standards that were used by the auditors are attached for reference.
 
As indicated in the attached Booking and Blocking Agreed-Upon Procedures Report, the following discrepancies were noted:
 
24 Month Rule
One booking did not comply with the qualifying room reservation requirement.  This booking did comply with the square footage requirement.
 
One booking did not comply with the square footage requirement.  This booking did comply with the qualifying room reservation requirement.
 
Two bookings did not comply with either the qualifying room reservation requirement or the square footage requirement.
 
12 – 24 Month Rule
Two bookings did not comply with the qualifying room reservation requirement.  These bookings did comply with the square footage requirement.
 
Two bookings did not comply with the square footage requirement.  These bookings did comply with the qualifying room reservation requirement.
 
Two bookings did not comply with either the qualifying room reservation requirement or the square footage requirement.
 
12 Month Rule
No discrepancies were noted pursuant to the 12 month rule.
 
The Audit Committee directed staff to draft a letter to The Woodlands Waterway Marriott Hotel and Convention Center suggesting actions that would improve adherence to the Agreement.  Those suggestions include routine training of staff responsible for booking and blocking duties, periodic self-auditing of procedures, and consistent utilization of the Booking and Blocking Committee.  That letter is currently being drafted, will be reviewed by Audit Committee members, and then provided to the Board prior to the meeting.

RECOMMENDATION:
Consider and act upon a recommendation from the Audit Committee to accept the Convention Center Booking and Blocking Agreed-Upon Procedures Report for the year ended December 31, 2012.
Attachments
2012 Convention Center Booking and Blocking Report
Booking and Blocking Procedures


    

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