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Home My WebLink AboutResolution - 2008-R0356 - FY 2008-09 Budget Approval - Civic Lubbock, Inc. - 09_11_2008Resolution No. 2008-RO356 September 11, 2008 Item No. 6.6 RESOLUTION WHEREAS, the City of Lubbock entered into a License Agreement with Civic Lubbock, Inc. on September 21, 2005, for all food, beverage and other concessions sales for the Lubbock Municipal Auditorium/Coliseum, Lubbock Memorial Civic Center, Buddy Holly Center, Silent Wings Museum and other designated municipal facilities; and WHEREAS, the License Agreement includes a provision that requires Civic Lubbock, Inc. to prepare and submit to the City a budget prior to the beginning of each fiscal year; NOW THEREFORE: BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF LUBBOCK: THAT the City Council of the City of Lubbock hereby accepts the Civic Lubbock, Inc. 2008-09 Fiscal Year Budget as approved and presented by the Civic Lubbock, Inc. Board. A copy of said budget is attached hereto and incorporated in this Resolution as if fully set forth herein. Passed by the City Council this 11th ATTEST: Rebec a Garza, City Secretary APPROVED AS TO CONTENT: Andy Burcham Chief Financial Officer G],aZi"aa.M. 1 K43 III .�A L. day of September , 2008. TOM MARTIN, MAYOR as/CLI Reso09.04.08 Resolution No. 2008-RO356 Civic Lubbock, Inc. - Overview Actual Actual Actual Amended Budget Change RESOURCE SUMMARY FY 2004-05 FY 2005-06 FY 2006-07 FY 2007-08 FY 2008-09 from Amended Funding Sources $ 1,444,235 1,554,314 1,982,176 1,732,338 1,621,248 -6.4% Utilization of Net Assets 218,790 - 37,740 96,880 - -100.0% Appropriation 1,663,025 1,358,769 2,019,916 1,829,218 1,621,248 -11.4% Total FTE - - - - - 0.0% COMPOSITION OF EXPENDITURES (Fiscal Year) E 3.00 2.00 Q .. 8 I.00 0.00 2004-05 2005-06 2006-07 2007-08 2008-09 ■ Compensation ■ Benefits ® Supplies Maintenance ■ Other Charges ■ Grants/ Walk of Fame ■ Capital Outlay/Reimbursements a Depreciation Actual Actual Actual Amended Budget % Change FUNDING SOURCES FY 2004-05 FY 2005-06 FY 2006-07 FY 2007-08 FY 2008-09 from Amended Civic Center Concessions $ 209,607 373,686 391,885 388,994 433,875 11.5 Auditorium/Coliseum Concessions 489,220 428,813 447,578 324,167 347,675 7.3 Select -A -Seat 355,014 469,126 339,239 420,934 537,639 27.7 Grants - 2,000 545,630 317,965 - (100.0) Other Income 390,394 280,689 257,844 280,278 302,059 7.8 Total Revenue Sources 1,444,235 1,554,314 1,982,176 1,732,338 1,621,248 (6.4) Utilization of Net Assets 218,790 - 37,740 96,880 (100.0) TOTAL FUNDING SOURCES $ 1,663,025 1,554,314 2,019,916 1,829,218 1,621,248 (11.4) Actual Actual Actual Amended Budget % Change EXPENSES FY 2004-05 FY 2005-06 FY 2006-07 FY 2007-08 FY 2008-09 from Amended Compensation $ 862,888 643,902 682,314 655,470 746,596 13.9 Benefits 55,805 43,825 40,214 44,584 47,433 6.4 Supplies 5,568 7,723 12,260 8,507 10,185 19.7 Maintenance 9,083 4,998 4,777 9,739 6,450 (33.8) Other Charges 616,616 490,553 570,922 601,705 712,142 18.4 Grants/ Walk of Fame 74,123 72,620 601,047 399,465 48,759 (87.8) Capital Ouday/Reimbursements - - - 22,000 30,000 36.4 Depreciation 38,942 95,148 108,382 87,748 19,683 (77.6) TOTAL EXPENSES $ 1,663,025 1,358,769 2,019,916 1,829,218 1,621,248 (11.4) Civic Lubbock, Inc. - Functional Overview Civic Center Concessions Budget FUNDING SOURCES FY 2008-09 Concession Sales $ 137,980 Beer Sales 110,000 Wine Sales 39,400 Liquor Sales 45,600 Coke Machine Sales 11,750 Merchandise 6,400 Catering 78,300 Expense Rebate/Other Income 1,200 Discounts Taken 152 Interest 2,093 Food Vendors 1,000 TOTAL FUNDING SOURCES $ 433,875 EXPENSES Compensation $ 173,345 Benefits 7,001 Supplies 2,000 Maintenance 3,000 Other Charges 175,673 Capital Outlay/Reimbursements 8,000 Depreciation - TOTAL EXPENSES $ 369,019 Auditorium/Coliseum Concessions Budget FUNDING SOURCES FY 2008-09 Concession Sales $ 181,000 Beer Sales 130,300 Wine Sales 6,800 Liquor Sales 13,000 Coke Machine Sales 200 Merchandise 12,000 Food Court Vendors % 2,000 Other Sales 175 Discounts Taken 200 Interest 2,000 TOTAL FUNDING SOURCES $ 347,675 EXPENSES Compensation $ 116,051 Benefits 6,914 Supplies 800 Maintenance 3,100 Other Charges 143,793 Capital Ouday/Reimbursements 10,000 Depreciation - Grants/Walk of Fame TOTAL EXPENSES $ 280,658 Select -A -Seat Budget FUNDING SOURCES FY 2008-09 Handling Fees $ 460,676 Professional Fees 37,600 Printing Fee Revenue 5,432 Ticket Envelope Advertising 4,000 Equipment Rental Revenue 1,020 Commission Revenue 6,000 Discounts Taken 679 Maintenance Support Revenue 1,200 Expense Rebate 11,532 Other Income 2,000 Interest Income 7,500 TOTAL FUNDING SOURCES $ 537,639 EXPENSES Compensation $ 210,200 Benefits 10,333 Supplies 4,385 Maintenance 350 Other Charges 334,620 Capital Outlay/Reimbursements 12,000 Depreciation 19,683 TOTAL EXPENSES $ 591,571 Administration Budget FUNDING SOURCES FY 2008-09 Stagehand Wage Reimbursement $ 250,000 Stagehand Service Charge 42,500 Other Income 859 Interest 4,900 Southwestern Bell Grant 3,800 Grants - TOTAL FUNDING SOURCES $ 302,059 EXPENSES Compensation $ 247,000 Benefits 23,185 Supplies 3,000 Maintenance - Other Charges 58,056 Capital Outlay/Reimbursements - Depreciation - Grants/Walk of Fame 48,759 TOTAL EXPENSES $ 380,000