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HomeMy WebLinkAboutAGENDA REPORT 2000 0419 CC REG ITEM 10CTO: FROM: DATE: MOORPARK CITY COUNCIL AGENDA REPORT The Honorable City Council ITEM 10-C. of he I g0- d ?7 R111 JA�9 7wR�a Mary K. Lindley, Director of Community Services /I". April 7, 2000 (CC Meeting of April 19, 2000) SUBJECT: Consider Revised Budget for 3rd of July Fireworks Event, Approval of Summer Concerts, and Adoption of a Budget Amendment SUMMARY The City Council is being asked to approve a, budget for two concerts to be held this summer and a revised budget for the 3rd of July Fireworks Event. The proposed budget for the summer concerts is $16,000. The proposed budget revision for 3rd of July Event would bring the total event budget to $26,000 from an original budget of $20,000. DISCUSSION Fireworks Event On November 3, 1999, the City Council approved a budget of', $20,000 for the 3rd of July Fireworks Event in 2000. Fifty percent of the Event's budget is included in the current fiscal' year expenditure budget and the remaining fifty percent will be'', allocated in FY 00/01. At the time the Council approved the Event budget, the goal was to raise approximately $8,000, leaving the City's General Fund to cover the remaining $12,000. On March 1, the City Council approved the establishment of a', nominal event entrance fee of $1.00. It is estimated that the! fee will generate an additional $3,000 to $5,0,00. As you know, the City has far exceeded its fundraising goal, largely through the efforts of Mayor Pro Tem Wozniak. To date, \\ MOR_ PRI_ SERV \home_folders \MLindley \RECREAT \concert 3rd july; budget ccagd.doc ®00 Fireworks Event and Concert Series Page 2 with the recent donation from Lennar Communities, the City has raised $27,500. All along, it has been the goal of the City and the Advisory Committee to make this year's event special. To that end, the planning efforts of the Advisory Committee include some one- time -only costs for items that will be used in subsequent years' events (signs and other equipment), a larger fireworks display with accompanying music, a better stage and sound system for the entertainment, and event tee - shirts. As a result, estimated costs for the event exceed the original budget by approximately $6,000, bringing the total proposed expenditure budget to $26,000. As stated above, this year there will be an entrance fee that will generate revenue, and the Advisory Committee plans to sell the event tee - shirts, which will also bring in additional revenue (approximately $2,000) . Total revenues estimated for the Fireworks Event is $33,500. PROPOSED BUDGET EXPENDITURES REVENUE Event Expenditures $26,000 Donations $27,500 Entrance Fee 4,000 Tee Shirt Sales 2,000 TOTAL $26,000 $33,500 The City Council is being asked to approve a revised budget for the 3rd of July Fireworks Event of $26,000. With the Council's approval, the additional $6,000 will be included in the FY 2000/01 budget for expenditure after July 1, 2000. No adjustment of the City current fiscal year budget is needed. Summer Concert Series The Council has previously expressed a desire to hold a summer concert series. In order to ensure that the City can secure the bands that it wants for the summer months, we need to perform planning activities now and to enter into contracts with the Fireworks Event and Concert Series Page 3 desired bands. To that end, staff needs to know how much money the City Council is willing to allocate to summer concerts. It is proposed that the City's Summer Concert Series consist of three concerts. The first concert will be held in conjunction with the 3rd of July Fireworks Event. The other two will be held later in July and early August. All of the concerts will take place at AVCP. The cost of the concert to be held on July 3rd has been incorporated in the Fireworks Event budget. For the later two concerts, staff plans to secure "headline" bands, which will cost between $5,000 and $6,000 each. The proposed budget for these two concerts is $8,000 each, for a total concert series budget of $16,000. As noted above, staff estimates that it will net $7,500 in revenue over expenditures for the 3rd of July Fireworks Event. The $7,500 can be applied towards the Summer Concert Series. This is consistent with the message the City has conveyed to the businesses that generously gave donations. It is proposed that the City's General Fund cover the remaining concert costs ($8,500). Typically, bands require a deposit to reserve dates. To cover the cost of the deposits, the Council is being asked to adopt the attached resolution, allocating $4,000 in the current year's budget for summer concerts. The remaining costs will be included in the FY 00/01 budget. STAFF RECOMMENDATION (Roll Call Vote Required) 1. Approve the revised 3rd of July Fireworks Event budget of $26,000; 2. Approve the addition of a Summer Concert Series as outlined in the Agenda Report; and 3. Adopt Resolution No. 2000 -_, amending the FY 99/00 budget by allocating $4,000 from the General Fund for Summer Concerts. 00004 Fireworks Event and Concert Series Page 4 RESOLUTION NO. 2000- RESOLUTION OF THE CITY COUNCIL OF THE CITY OF MOORPARK, CALIFORNIA, AMENDING THE FY 1999/00 BUDGET FOR EXPENDITURES RELATED SUMMER CONCERTS BY APPROPRIATING $4,000.00 FROM THE GENERAL FUND BALANCE (1000) TO THE RECREATION DIVISION EXPENDITURE BUDGET (1000.7630). WHEREAS, on June 23, 1999, the City Council adopted the FY 1999/00 Budget; and WHEREAS, on April 19, 2000, staff presented the Council with a report which requests the appropriation of $4,000.00 from the General Fund Balance (1000.7630) for the Summer Concert Series; and WHEREAS, Exhibit "A" hereof describes said budget amendment and its resultant impacts to the budget line items. NOW THEREFORE, THE CITY COUNCIL OF THE CITY OF MOORPARK DOES RESOLVE AS FOLLOWS: SECTION 1. A budget amendment to allocate $4,000.00 from the General Fund Balance, to the Recreation Division expenditure budget, as more particularly described in Exhibit "A" attached hereto is hereby approved. SECTION 2. The City Clerk shall certify to the adoption of the resolution and shall cause a certified resolution to be filed in the book of original Resolutions. PASSED AND ADOPTED this 19th day of April, 2000. ATTEST: Deborah S. Traffenstedt, City Clerk Attachment Patrick Hunter, Mayor 0 000 Fireworks Event and Concert Series Page 5 Resolution No. 2000 -1717 EXHIBIT A Budget Revision A. Fund Allocation: Fund No. Fund Name Amount 1000 General Fund $4,000.00 $4,000.00 $4,000.00 B. Budget Appropriation: BUDGET NUMBER BUDGETED REVISION NEW BUDGET 1000.7630.7625.9104 $0.00 $4,000.00 $4,000.00 Approved to Form:,C 00004