AGENDA REPORT
RBOC_042022_04
April 20, 2022
To: Rose Bowl Operating Company
From: Darryl Dunn, General Manager
Subject: Action Item – Recommend Fiscal 2023 Operating Budget RECOMMENDATION:
It is recommended that the RBOC:
Review the Draft Fiscal 2023 Operating budget and forward to City Council for approval.
BACKGROUND:
Article 9 of the City Charter requires the City Manager submit a recommended operating budget no later than the 3rd Monday in May. Accordingly, the RBOC’s operating budget will be included as part of the City’s recommended operating budget. Further the Operating Agreement between the City and the RBOC requires that the City Council approve the budget of the RBOC.
For City of Pasadena budget purposes, these schedules are presented on a “Modified Accrual” basis.
FISCAL IMPACT:
This draft of the Operating Budget shows total gross revenue of $59.6 million operating expenditures of $62.4 million for a net loss of $2.8 million from operating reserves, and an ending Operating available balance of $6.4 million, after reserves.
Respectfully Submitted,
Darryl Dunn
General Manager
ATTACHMENT A