Innovative Financial Reserve Plan

In addition to strategic leadership and policy development, a major fiscal initiative under Ray Hoyt’s tenure was the creation and implementation of a long-term Financial Reserve Plan to protect Tulsa Regional Tourism from potential future economic disruptions.

Three-Tiered Fund Strategy:

The plan established three distinct financial reserves:

• Reserve Fund – Designed as the organization’s primary safety net.

• Liquidity Fund – Created to ensure operational cash flow during short-term disruptions.

• Opportunity Fund – Focused on funding growth opportunities and strategic event development.

Funding Sources:

Each fund was built through designated percentages collected from:

• The lodging tax

• A private investment campaign

• Annual overages from projected lodging tax revenues

Sequenced Funding Approach:

Funds were built in a phased manner:

• 100% of collections were directed to the Reserve Fund until it reached the required balance.

• Once the Reserve Fund was fully funded, collections flowed to the Liquidity Fund.

• After the Liquidity Fund was complete, allocations supported the Opportunity Fund.

• Upon full funding of all three, future funds were redirected to the operating budget.

Replenishment Protocol:

If any fund was accessed due to an emergency or strategic need, collections would be redirected to replenish that fund until it returned to its target balance.

This plan not only provided organizational stability in the event of a crisis but also ensured that future leadership had the resources and flexibility to continue long-term strategic planning and innovation.