January 15, 2009

Orlando/Orange County Convention & Visitors Bureau, Inc. Receives
Favorable Audit Report from Orange County Comptroller

ORLANDO, Fla. – The Orange County Comptroller’s office issued a favorable audit report covering the operations of the Orlando/Orange County Convention & Visitors Bureau, Inc. (Orlando/Orange County CVB). The audit report indicates that the Orlando/Orange County CVB is successfully complying with the Orange County contract for Tourism Development Tax (TDT) funds and found that the Orlando/Orange County CVB’s internal controls and procedures are adequate.

“In an audit of this type, a finding that the Orlando/Orange County CVB’s internal controls over financial operations are adequate is exactly the stamp of approval that the organization hoped to receive,” said Larry Campbell, chair of the Orlando/Orange County CVB’s 2007 - 2008 Audit Committee and sr. vice president of internal audit for Darden Restaurants.

“Audits are something the Orlando/Orange County CVB respects and appreciates as a part of an appropriate oversight process,” said George Aguel, chairman of the Orlando/Orange County CVB’s Board of Directors. “The Orlando/Orange County CVB has always been and will continue to be cooperative when the Comptroller’s staff reviews the way we spend and account for all monies we receive from the TDT.”

The audit included seven months of fieldwork in the Orlando/Orange County CVB’s offices and covered all aspects of the Orlando/Orange County CVB’s operations, including TDT and private investor revenue spending, travel and entertainment, personnel records, procurement, contracts and other financial records, as well as all board of directors and executive committee meeting minutes.

Recommendations from the report noted no material weaknesses in the Orlando/Orange County CVB’s internal controls. The Orlando/Orange County CVB executive management team and the Board of Directors appreciates the Comptroller’s Office staff’s recommendations as a way to strengthen the Orlando/Orange County CVB’s use of best practices.

The Orlando/Orange County CVB is the official sales and marketing organization for the Orlando/Orange County area responsible for generating brand awareness, increasing travel to the area and booking conventions and meetings.