AGENDA
FINANCE/AUDIT COMMITTEE
SPECIAL MEETING NOTICE
SEPTEMBER 23, 2024
PUBLIC MEETING 3:00 P.M.
Members
Victor M. Gordo, Mayor
Tyron Hampton, District 1
Felicia Williams, District 2
STAFF
Matthew Hawkesworth, Director of Finance
Lisa Hosey, Assistant City Attorney
Gloria Acevedo, Recording Secretary
MISSION STATEMENT
The City of Pasadena is dedicated to delivering exemplary municipal services, responsive to our entire community and consistent
with our history, culture and unique character.
In compliance with the Americans with Disabilities Act of 1990, Assistive Listening Devices are available from the City Clerk’s Office with a 24-hour advance notice.
Please call (626) 744-4124 to request use of a listening device.
Language translation services are available for this meeting by calling (
626)744-4124 at least 24 hours in advance.
Habrá servicio de interpretación disponible para éstas juntas llamando al (626)744-4124 por lo menos con 24 horas de anticipación.
Meeti
ngs are broadcast live on cable Channel 3 and on the Internet at http://pasadena.granicus.com/mediaplayer.php?camera_id=2&publish_id=9 and https://www.pasadenamedia.org/watch/ (Click on Video Streamlining on the right side of the screen).
It
ems on the agenda may not be called in order listed. Agendas and supporting documents are available on the Internet at
https://www.cityofpasadena.net/commissions/city-council-finance-committee/ Mater
ials related to an item on this Agenda submitted to the Finance/Audit Committee after distribution of the agenda packet will be posted online and listed as: “Supplemental Agenda Material Received after the Posting of the agenda”
PUBLIC COMMENT AT THE FINANCE/AUDIT COMMITTEE SPECIAL MEETING FOR SEPTEMBER 23, 2024, AT 3:00 P.M. WILL BE ACCEPTED IN-PERSON AND BY VIDEOCONFERENCE/TELECONFERENCE.
Li
nk to City Meeting Policy:
cityofpasadena.net/CityCouncilMeetingPolicy
T
O VIEW A LIVE STREAM OF THE MEETING:
http
://pasadena.granicus.com/MediaPlayer.php?publish_id=9
AND
WWW.
PASADENAMEDIA.ORG
In order to facilitate public participation at meetings the City will accept public comment in the following manner:
1. Whether participating in-person or virtually at the meeting, members of the public may provide public comment by submitting a speaker card prior to the start of public comment on that item, at the following webpage:
www.cityofpasadena.net/commissions/public-comment/
If a public comment speaker wishes to speak on more than one agenda item, please indicate which items on the online form (multiple item speakers will be handled according to the process posted on the agenda and as specified in the City meeting policy). Public comments are limited to 3 minutes each, and the Chair and Committee may limit this time if reasonable under the circumstances.
2. In-person Meeting Participation: Complete an online speaker card at the following website: www.cityofpasadena.net/commissions/public-comment/ After submitting a public speaker card, members of the public may attend the meeting in-person by coming to the Pasadena City Council Chamber, Room S249 at City Hall at the date and start-time of the posted meeting.
Virtual Meeting Participation: For virtual participants, you may attend by connecting to the meeting using a computer, other electronic device, or by telephone. Please review the agenda to identify the published start time for the meeting and connect to the meeting just prior to, or at the start of the meeting.
To participate in public comment for an item and to be recognized to speak, it is required that the speaker login to the meeting using the same name or telephone number used on the Speaker Card form. This will allow City staff to locate and promote the speaker into the meeting when it is time for their public comment.
Participants’ phone calls to the Committee meeting will be recorded as part of the Committee meeting. By staying on the line and making public comment during the Committee meeting by phone, you are agreeing to have your phone call recorded. Following is the connectivity information for virtual participation:
Computer or electronic devices, join the meeting at: cityofpasadena.net/cczoom Telephone only dial-in: 1-669-900-6833, Meeting ID: 161 482 446
3. Speaker Card Help Line: If a public comment speaker needs assistance in completing a speaker card, please call the City Clerk’s Office at: (626) 744-4124.
Help line will open 30 minutes prior to the posted start time of the meeting.
4. Members of the public may submit correspondence of any length prior to the start of the meeting, at the following email address:
gac
[email protected]
C
orrespondence will be forwarded to the Committee prior to the start of the meeting, posted online, and made part of the legislative record for the item.
LIVESTREAM WITH CAPTIONING IS AVAILABLE AT WWW.PASADENAMEDIA.ORG, AND ALSO AT WWW.CITYOFPASADENA.NET/COMMISSIONS/AGENDAS, I
F YOU NEED A REASONABLE MODIFICATION OR ACCOMMODATION PURSUANT
TO THE AMERICANS WITH DISABILITIES ACT
BECAUSE YOU ARE UNABLE TO PARTICIPATE ELECTRONICALLY AS SET FORTH ABOVE, CONTACT THE CITY CLERK’S OFFICE
AS SOON AS POSSIBLE AT (626) 744-4124 OR
[email protected].
SPECIAL MEETING
AGENDA
FINANCE/AUDIT COMMITTEE
SEPT
EMBER 23, 2024
Public Meeting: 3:00 P.M.
Council Chamber, Pasadena City Hall
100 North Garfield Avenue, Room S249
PUBLIC MEETING – 3:00 P.M.
ROLL CALL
PUBLIC COMMENT – LIMITED TO ITEMS ON THIS SPECIAL MEETING
AGENDA AND WILL BE HEARD AT THE TIME THE ITEM IS CONSIDERED
APPROVAL OF MINUTES
NEW BUSINESS
1. AP
PROVE KEY BUSINESS TERMS OF AN AFFORDABLE HOUSING
LOAN AGREEMENT WITH HHP-WALNUT, LLC FOR A SHORT-TERM CITY
CONSTRUCTION LOAN IN AN AMOUNT NOT-TO-EXCEED
$3,250,000 IN BURBANK-GLENDALE-PASADENA REGIONAL HOUSING TRUST FUNDS FOR AN AFFORDABLE HOUSING PROJECT AT 1878 E. WALNUT
STREET AND AMENDMENTS TO THE HOUSING DEPARTMENT'S FISCAL YEAR 2025 OPERATING BUDGET
2. AUT
HORIZE THE CITY MANAGER TO TRANSFER TITLE OF A 2006 BIG TEX
TRAILER TO THE CITY OF ARCADIA
3. AUT
HORIZE THE CITY MANAGER TO ENTER INTO A COOPERATIVE
AGREEMENT WITH LOS ANGELES COUNTY METROPOLITAN
TRANSPORTATION AUTHORITY IDENTIFYING ROLES AND RESPONSIBILITIES
RELATED TO THE DESIGN AND CONSTRUCTION OF THE NORTH
HOLLYWOOD TO PASADENA BUS RAPID TRANSIT PROJECT AND RECEIVE REIMBURSEMENT OF UP TO $925,000
4. AUT
HORIZE THE CITY MANAGER TO ENTER INTO A METRO-APPROVED
AGREEMENT WITH THE CITY OF SAN MARINO TO EXCHANGE $750,000 OF PASADENA’S GENERAL FUND DOLLARS CURRENTLY DEDICATED TO
TRANSIT SERVICES FOR $1,000,000 OF THE CITY OF SAN MARINO’S
PROPOSITION A LOCAL RETURN DOLLARS
2 5. ADOPT A RESOLUTION AUTHORIZING THE CITY MANAGER TO EXECUTE ALL AGREEMENTS FOR THE RECEIPT OF $253,882 LOW CARBON TRANSIT OPERATIONS PROGRAM FUNDS AND AMEND THE CITY’S BUDGET TO
RECEIVE AND EXPEND FUNDS FOR ZERO-EMISSION VEHICLES AND BUS
STOP ENHANCEMENTS
6. AUT
HORIZE THE CITY MANAGER TO ENTER INTO AN AGREEMENT WITH CALTRANS TO RECEIVE $2.5 MILLION IN CARBON REDUCTION PROGRAM
FUNDING FOR ZERO-EMISSION BUS PURCHASES AND AMEND THE CAPITAL
IMPROVEMENT PROGRAM BUDGET
7. AM
END THE FISCAL YEAR 2025 CAPITAL IMPROVEMENT PROGRAM
8. AM
ENDMENTS TO THE FISCAL YEAR 2025 GENERAL FEE SCHEDULE
INFORMATION ONLY
9. T
HE AUDITOR'S COMMUNICATION WITH THOSE CHARGED WITH
GOVERNANCE PURSUANT TO STATEMENTS ON AUDITING STANDARDS NO 114
10. RO
SE BOWL OPERATING COMPANY FINANCIAL UPDATE
11. P
ASADENA CENTER OPERATING COMPANY FINANCIAL UPDATE
ADJOURN
NEW BUSINESS
ITEM 1
1. APPROVE KEY BUSINESS TERMS OF AN AFFORDABLE
HOUSING LOAN AGREEMENT WITH HHP-WALNUT, LLC
FOR A SHORT-TERM CITY CONSTRUCTION LOAN IN
AN AMOUNT NOT-TO-EXCEED $3,250,000 IN BURBANK-
GLENDALE-PASADENA REGIONAL HOUSING TRUST
FUNDS FOR AN AFFORDABLE HOUSING PROJECT AT
1878 E. WALNUT STREET AND AMENDMENTS TO THE
HOUSING DEPARTMENT'S FISCAL YEAR 2025
OPERATING BUDGET
NEW BUSINESS
ITEM 2
2. AUTHORIZE THE CITY MANAGER TO TRANSFER TITLE OF A
2006 BIG TEX TRAILER TO THE CITY OF ARCADIA
Agenda Report
TO: Honorable Mayor and City Council
THROUGH: Finance Committee
FROM: Police Department
September 23, 2024
SUBJECT: AUTHORIZE THE CITY MANAGER TO TRANSFER TITLE OF A 2006
BIG TEX TRAILER TO THE CITY OF ARCADIA
RECOMMENDATION:
It is recommended that the City Council:
1. Find that the action proposed herein is not a "project" subject to the California Environmental Quality Act (CEQA) pursuant to State CEQA Guidelines Section 21065 and within the meaning of Section 15378(b); and
2. Authorize the City Manager to transfer title of a 2006 Big Tex Trailer to the City of Arcadia pursuant to Municipal Code 4.04.080.
BACKGROUND:
In efforts to maintain public safety on the streets of Pasadena, The Pasadena Police Department partners with the California Office of Traffic Safety (OTS) to conduct grant funded operations and programs throughout the city and in collaboration with other grant funded OTS agencies. OTS provides funding for personnel, training, and equipment each fiscal year to various California agencies with funding provided by the National Highway Traffic Safety Administration.
In 2006, the Pasadena Police Department purchased with OTS grant funding a 2006 Big Tex Trailer to be used for DUI (Driving under the Influence) operations for $24,910.
Today the trailer has an estimated value less than $4,999. In FY 2024, the Pasadena Police Department was awarded $45,000 by OTS to purchase a new DUI trailer which has been obtained and is now in use.
MEETING OF _____ _ AGENDA ITEM NO. ____ _
NEW BUSINESS
ITEM 3
3. AUTHORIZE THE CITY MANAGER TO ENTER INTO A
COOPERATIVE AGREEMENT WITH LOS ANGELES
COUNTY METROPOLITAN TRANSPORTATION
AUTHORITY IDENTIFYING ROLES AND
RESPONSIBILITIES RELATED TO THE DESIGN AND
CONSTRUCTION OF THE NORTH HOLLYWOOD TO
PASADENA BUS RAPID TRANSIT PROJECT AND
RECEIVE REIMBURSEMENT OF UP TO $925,000
NEW BUSINSESS
ITEM 4
4. AUTHORIZE THE CITY MANAGER TO ENTER INTO A
METRO-APPROVED AGREEMENT WITH THE CITY OF
SAN MARINO TO EXCHANGE $750,000 OF
PASADENA’S GENERAL FUND DOLLARS CURRENTLY
DEDICATED TO TRANSIT SERVICES FOR $1,000,000 OF
THE CITY OF SAN MARINO’S PROPOSITION A LOCAL
RETURN DOLLARS
NEW BUSINESS
ITEM 5
5. ADOPT A RESOLUTION AUTHORIZING THE CITY
MANAGER TO EXECUTE ALL AGREEMENTS FOR THE
RECEIPT OF $253,882 LOW CARBON TRANSIT
OPERATIONS PROGRAM FUNDS AND AMEND THE
CITY’S BUDGET TO RECEIVE AND EXPEND FUNDS
FOR ZERO-EMISSION VEHICLES AND BUS STOP
ENHANCEMENTS
PA^b^0
^'^^
07 •K *
z
<o 0<0 0
'^.^ ^^ 0y i^Teo
Agenda Report
September 23, 2024
TO: Honorable Mayor and City Council
THROUGH: Finance Committee
FROM: Department of Transportation
SUBJECT: ADOPT A RESOLUTION AUTHORIZING THE CITY MANAGER TO EXECUTE ALL AGREEMENTS FOR THE RECEIPT OF $253,882 LOW
CARBON TRANSIT OPERATIONS PROGRAM FUNDS AND AMEND
THE CITY'S BUDGET TO RECEIVE AND EXPEND FUNDS FOR ZERO-
EMISSION VEHICLES AND BUS STOP ENHANCEMENTS
;
i
RECOMMENDATION:
It is recommended that the City Council:
1. Find that the action proposed herein is categorically exempt from the California Environmental Quality Act (CEQA), pursuant to State CEQA Guidelines Section 15301, Existing Facilities (Class 1);
2. Adopt a resolution authorizing the City Manager or his designee to enter into an agreement with California Department of Transportation to receive grant funding for the Low Carbon Transit Operations Program for zero-emission vehicles and bus stop enhancements in the amount of $253,882 and execute any subsequent agreements regarding this grant award including the Certifications and Assurances and Authorized Agent Forms required; and
3. Amend the FY 2025 Department of Transportation's Operating Budget by recognizing $253,882 of Low Carbon Transit Operations Program funding as detailed in the fiscal impact section.
\
MEETING OF.09/23/2024AGENDA ITEM NO..5
LCTOP Receipt of Funding and Resolution for Zero Emission Vehicles and Bus Stop Enhancements September 23, 2024
BACKGROUND:
The Low Carbon Transit Operations Program (LCTOP) is part of the California Climate Investments program designed to assist transit agencies in reducing their greenhouse gas emissions. The California Department of Transportation (Caltrans), in coordination with the California Air Resources Board, administers the program. Each year, Caltrans allocates non-competitive LCTOP funds to transit operators; however, transit operators must submit a qualifying project to Caltrans to receive the funds.
Staff has prepared an application seeking $139,503 from the Fiscal Year 2024 LCTOP grant to partially fund the purchase of seven zero-emission buses and infrastructure for Pasadena Dial-A-Ride. These seven zero-emission buses will replace seven unleaded cutaway buses that will reach their useful life by 2026. Funds from this grant program will be provided to the City upfront, in advance of the bus purchase.
In addition to the funds above, staff also applied for $114,379 for bus stop enhancements. This project will follow a public outreach process that is currently being conducted to develop a project scope. As part of a Bus Stop Amenities Plan currently underway, bus stops will be ranked and prioritized by their current amenities, as well as a number of other criteria including security and comfort, connectivity, ridership, equity and feedback. The Plan will identify a number of potential amenities that can be rolled out according to the prioritization matrix that will be developed, in order to improve the customer experience at bus stops including the consideration of styles of shelters, benches, lighting, information etc.
A resolution authorizing the City Manager to execute all agreements including the Certifications and Assurances and Authorized Agent Forms is required to receive LCTOP funding for zero-emission vehicles and bus stop enhancement. Staff will return to the City Council at a future date to approve a contract for the vehicle procurement.
COUNCIL POLICY CONSIDERATION:
Authorization of receipt of these LCTOP funds will advance the City Council's strategic planning goals of maintaining fiscal responsibility, increasing consen/ation and sustainability, and encouraging non-auto travel.
ENVIRONMENTAL IMPACT:
The proposed action has been determined to be exempt from the California Environmental Quality Act ("CEQA") pursuant to State CEQA Guidelines Section 15301 Existing Facilities (Class 1). The Class 1 categorical exemption consists of "the operation, repair, maintenance, permitting, leasing, licensing, or minor alteration of existing public or private structures, facilities, mechanical equipment, or topographical features, involving negligible or no expansion of existing or former use. The proposed project consists of authorization and approvals of grant funding agreements for the replacement of existing City buses with zero-emission buses and the enhancement of existing bus stops to improve the customer experience. Anticipated bus stop
LCTOP Receipt of Funding and Resolution for Zero Emission Vehicles and Bus Stop Enhancements September 23, 2024
improvements include replacing or enhancing bus stop amenities, such as shelters, benches, lighting, informational signs, etc. Neither the replacement buses nor the bus shelter enhancements would expand the use. Rather, the replacement buses are intended to reduce air pollutant and greenhouse gas emissions and the bus stop enhancements are limited to improving the amenities provided at existing bus stops.
FISCAL IMPACT:
Approval of the recommended action will increase the Department of Transportation's FY 2025 LCTOP revenue by $253,882 in the Proposition A Local Return Fund (208), and appropriate $139,503 to Capital Improvement Program for Purchase of Dial-A-Ride Vehicles (CIP 75086) and $114,379 to Capital Improvement Program for Bus Shelters, Bench & Pass Pads (CIP 75900). There is no impact to the General Fund (101).
Respectfully submitted,
JOAQUlNTT. SIQUES
Director
Department of Transportation
Prepared by:
Sebastian Andres Hernandez
Principal Planner
Approved by:
:^^
MIGUEL MARQUEZ
City Manager
RESOLUTION NO.
RESOLUTION OF THE CITY COUNCIL OF PASADENA AUTHORIZING THE
EXECUTION OF THE CERTIFICATIONS AND ASSURANCES AND AUTHORIZED
AGENT FORMS FOR THE LOW CARBON TRANSIT OPERATIONS PROGRAM (LCTOP) FOR THE FOLLOWING PROJECT(S): PURCHASE OF SEVEN, 23-FOOT
REPLACEMENT ZERO-EMISSION VEHICLES AND INFRASTRUCTURE FOR
PASADENA DIAL-A-RIDE AND BUS STOP ENHANCEMENTS
WHEREAS, the City of Pasadena is an eligible project sponsor and may receive state funding from the Low Carbon Transit Operations Program (LCTOP) for transit projects; and
WHEREAS, the statutes related to state-funded transit projects require a local or regional implementing agency to abide by various regulations; and WHEREAS, Senate Bill 862 (2014) named the Department of Transportation (Department) as the administrative agency for the LCTOP; and WHEREAS, the Department has developed guidelines for the purpose of administering and distributing LCTOP funds to eligible project sponsors (local agencies); and
WHEREAS, the City of Pasadena wishes to delegate authorization to execute these documents and any amendments thereto to the City Manager or his/her designee.
WHEREAS, the City of Pasadena wishes to implement the following LCTOP project(s) listed above,
NOW, THEREFORE, THE CITY COUNCIL OF THE CITY OF PASADENA RESOLVES AS FOLLOWS:
1. The City of Pasadena, as the fund recipient, agrees to comply with all conditions and requirements set forth in the Certification and Assurances and the Authorized Agent documents and applicable statutes, regulations and guidelines for all LCTOP funded transit projects.
2. The City Manager or his/her designee is authorized to execute all required documents of the LCTOP program and any Amendments thereto with the California Department of Transportation.
1
3. The submittal of the following project nomination(s) and allocation request(s) to the Department in FY2023-24 LCTOP funds is authorized:
Project Name: Pasadena Purchase of Seven Battery Electric Buses (BEB) Dial-A-Ride Buses: $139,503
Short description of project: Purchase of seven, zero-emission vehicles and infrastructure for Pasadena Dial-A-Ride.
Benefit to a Priority Populations: Yes
Amount to benefit Priority Populations: $69,751
Project Name: Next Stop: Transforming bus zones to ensure an equitable and accessible transit experience, improve communities, and combat climate change:
$114,379
Short description of project: Following a plan developed with an outreach phase, this project will provide for the installation of new information components and wayfinding signage; the purchase and installation of bus benches and trash receptacles; and other customer experience enhancements.
Benefit to a Priority Populations: Yes
Amount to benefit Priority Populations: $57,189
2
This resolution shall be effective immediately upon adoption by the City Council.
Adopted at the meeting of the City Council on the
2024 by the following vote:
day of,)
AYES:
NOES:
ABSTAIN:
ABSENT:
Approved a$.+0 fornT
Aa
Deputy Cjty^Attorney
Mark Jomsky
City Clerk
3
NEW BUSINESS
ITEM 6
6. AUTHORIZE THE CITY MANAGER TO ENTER INTO AN
AGREEMENT WITH CALTRANS TO RECEIVE $2.5
MILLION IN CARBON REDUCTION PROGRAM FUNDING
FOR ZERO-EMISSION BUS PURCHASES AND AMEND
THE CAPITAL IMPROVEMENT PROGRAM BUDGET
NEW BUSINESS
ITEM 7
7. AMEND THE FISCAL YEAR 2025 CAPITAL
IMPROVEMENT PROGRAM
Amendments to FY 2025 GIP Budget
September 23, 2024
and for paving of Oak Knoll Avenue in front of both 139 and 150 South Oak Knoll Avenue. This work will be completed in FY 2025.
3. Street Lighting Program (74413) -The Department of Public Works recommends recognizing and appropriating $51,933 in Private Capital to this project and increasing the budget by a like amount. This funding was received as a condition of development for the installation of street lighting and the work was completed in FY 2024. This action will allow this project to be closed.
4. Pedestrian Crossing Enhancements FY 2021 - 2025 (75112) - The Department of Transportation recommends appropriating $57,222 in Traffic Reduction Fee to this project and increasing the budget by a like amount. In FY 2024, this project received $249,120 in Highway Safety Improvement Program grant funds and $236,148 in Measure Multi-year Subregional Program grant funds. This appropriation will serve as the local match.
5. Adaptive Traffic Control Network Phase II (75095) - The Department of Transportation recommends appropriating $3,744 in Traffic Reduction Fees to this project and increasing the budget by a like amount. The budget shortfall is due to additional staff time needed to complete this project. The appropriation will allow this project to be closed.
6. ITS Phase I - Parking Guidance (75912) - The Department of Transportation recommends appropriating $27,764 in Traffic Reduction Fees to this project and increasing the budget by a like amount. The budget shortfall is due to additional work provided by a structural engineer in the design phase. This appropriation will allow this project to be closed.
7. City Park Public Wifi Expansion (71169)-The Department of Information Technology recommends appropriating $1,500,000 in Housing and Urban Development Community Project Grant and unappropriating $1,500,000 in Community Development Block Grant (CDBG) funds. Staff originally understood the funding would be CDBG, but as HUD awarded the funding, the City received Housing and Urban Development Community Project grant funds. This action is an administrative correction.
8. DolT Equipment Life Cycle Replacement FY 2025-2029 (71171) -The Department of Information Technology recommends transferring the remaining balance of $3,035,942 in Computing and Communication Fund and $21,051 in Library Fund from the Do/T Equipment Life Cycle Replacement FY 2020 - 2024 (71165) project to this project. This action will allow project 71165 to be closed and the remaining balance to be used on future phases of the project.
9. City Fiber Network Expansion FY 2025-2029 (71172) - The Department of Information Technology recommends transferring remaining balance of $1,253,979 in various funds as shown on Attachment A from the City Fiber Network Expansion FY 2020 - 2024 (71167) project to this project. This action will allow project 71167 to be closed and the remaining balance to be used on future phases of the project.
Amendments to FY 2025 CIP Budget
September 23, 2024
of 4
10.Meters and Services (1081)-The Water and Power Department recommends transferring $300,000 in Water Fund from the New Water Well (1088) project and $300,000 in Water Fund from the Water Operations I Training and Storage I Workshop (1090) project to this project and increasing the budget by $600,000. This transfer is necessary primarily due to unexpected additional service replacements and supply chain issues which has led to an increase in material costs.
Appropriations remaining in the New Water Well (1088) and the Water Operations I Training and Storage I Workshop (1090) projects will be sufficient to complete the FY 2025 work plan.
11. Booster Improvements (1073) - The Water and Power Department recommends transferring $200,000 in Water Fund from the Well Improvements (1074) project and $370,000 in Water Fund from the Monk Hill Groundwater Treatment Improvements (1076) project to this project and increasing the budget by $570,000. This transfer is necessary due to unexpected replacements and increased design costs, additional costs related to electrical equipment procurement delays, and modifications to the electrical service for booster station projects. Appropriations remaining in the Well Improvements ( 107 4) and the Monk Hill Groundwater Treatment Improvements (1076) projects will be sufficient to complete the FY 2025 work plan.
12. Emergency Transmission and Distribution System Replacements (3222) - The Water and Power Department recommends transferring $1,200,000 in Power Fund from the Distribution System Expansion Program (3228) project to this project and increasing the budget by a like amount. This transfer is due to emergency asset replacements in FY 2024, most of which were related to severe weather conditions.
Appropriations remaining in the Distribution System Expansion Program (3228) project will be sufficient to complete the FY 2025 work plan.
13. Fire Threat Mitigation Tier 2 Areas (3258) - The Water and Power Department recommends transferring $460,000 in Power Fund from Fire Threat Mitigation Tier 3 Areas (3257) project to this project and increasing the budget by a like amount. This transfer is necessary due to significant scope increases related to replacing critical aging assets. Appropriations remaining in the Fire Threat Mitigation Tier 3 Areas (3257) project will be sufficient to complete the FY 2025 work plan.
COUNCIL POLICY CONSIDERATION:
All of the above projects and actions address City Council's goals to maintain fiscal responsibility and stability and improve, maintain, and enhance public facilities and infrastructure.
ENVIRONMENTAL ANALYSIS:
CEQA excludes from environmental analysis those actions that are not "projects" as defined by State CEQA Guidelines Section 15378. That section excludes from the definition of "project" the creation of government funding mechanisms and fiscal activities which do not yet commit the lead agency to any specific project, and also excludes organizational or administrative governmental activities that do not result in physical changes to the environment. The actions proposed herein are budgetary and part of the City's normal
Amendments to FY 2025 CIP Budget
September 23, 2024
administrative process as it takes early steps to prepare for the possibility of undertaking a project, and therefore they are not yet "projects" as defined by CEQA. As the City becomes more certain it will undertake one of the projects, and before it commits itself to the project, the appropriate environmental analysis will be conducted and brought to the appropriate City body for approval.
FISCAL IMPACT:
The cumulative result of these recommendations will increase the FY 2025 CIP budget by $242,032. The specific funding sources for the budget amendments are listed on Attachment A. There is no impact to the General Fund.
Prepared by:
Phylli Hallowell
Management Analyst V
Approved by:
� J,k
MIGU�RciuEz
City Manager
Respectfully submitted,
KRIS MARKARIAN, P.E.
Acting Director of Public Works
Attachment A - Amendments to the FY 2025 - 2029 CIP Budget
NEW BUSINESS
ITEM 8
8. AMENDMENTS TO THE FISCAL YEAR 2025
GENERAL FEE SCHEDULE
Amendments to the Fiscal Year 2025 General Fee Schedule September 23, 2024
In place of the discontinued fees, the Department proposes three new fees in connection with its new multi-function copiers/printers under a section re-titled, “Public Printing Concessions.”
• Black and White Printouts/Copies – $0.10 (Proposed Fee #161) To offer patrons black and white printing services at a cost of $0.10 per page.
Consistent with other libraries in the county, this fee will cover the costs of maintaining and operating the printers, including supplies and technical support. • Color Printouts/Copies – $0.50 (Proposed Fee #162)
To offer patrons color printing services at a cost of $0.50 per page. In step with other libraries in the county, this fee will cover the costs of maintaining and operating the printers, including supplies and technical support. • Scan-to-USB, email, Google Drive, and QR code – $0.05 (Proposed Fee #163) To offer patrons the service of scanning to USB, email, Google Drive, and QR code at a cost of $0.05 per transaction (page). This new service is distinct from copying by providing a digital solution for patrons who need to digitize documents for personal, educational, and/or professional purposes. The fee will cover the costs associated with maintaining and operating the scanning equipment, ensuring the sustainability and quality of service while offering patrons modern and convenient ways to manage their documents.
COUNCIL POLICY CONSIDERATION:
This proposed action supports the City Council's strategic planning goal of maintaining fiscal responsibility and stability through the periodic review and update of the General Fee Schedule and by ensuring that, where appropriate, the City is reimbursed for the cost of providing selected services.
ENVIRONMENTAL ANALYSIS:
The modification of the City’s FY 2025 Adopted General Fee Schedule is statutorily exempt from CEQA pursuant to State CEQA Guidelines Section 15273 (Rates, Tolls, Fares, and Charges), which provides a statutory exemption for the establishment, modification, structuring, restructuring, or approval of rates, tolls, fares, or other charges by public agencies, which the public agency finds are for the purpose of:
(1) Meeting operating expenses, including employee wage rates and fringe benefits; (2) Purchasing or leasing supplies, equipment, or materials; (3) Meeting financial reserve needs and requirements;
(4) Obtaining funds for capital projects, necessary to maintain service within existing service areas; or
(5) Obtaining funds necessary to maintain such intra-city transfers as are authorized by City Charter.
ATTACHMENT A
FISCAL YEAR 2025 GENERAL FEE SCHEDULE
Note· The Fiscal Year 2025 General Fee Schedule was originally adopted June 3 2024 June 3 2024 September 23 2024 FY 2025 FY 2025
FEE DESCRIPTION ADOPTED FEE REVISED FEE
Library Equipment Use and Technical Assistance Charges (includes data/video projec tion equipment)
Interlibrary Loan Requests
159 Loan Requests $2.00 $2.00
Overdue Fines
Note: In order to meet the customer service needs of the community, fees may be waived at the discretion of the librarian in charge. Librarian may only waive outstanding overdue fines, if there are extenuating circumstances, but not the cost of a lost book.
Only a Library Services Manager may waive a lost book for extenuating circumstances. 160 Collections Processing Charge $15.00 $15.00
Public Printing Concessions
161 Black and White Printouts/Copies New $0.10
162 Color Printouts/Copies New $0.50
163 Scan-to-USB, email, Google Drive, and QR code New $0.05 Repair & Replacement Fees
164 Item Replacement At Cost, applicable At Cost, applicable retroactively for retroactively for
unpaid fees unpaid fees
165 Repair of Other Materials and Processing Fee Amount At cost plus At cost plus processing fee of processing fee of
$2.75 $2.75
Reproduction Of Photographs
166 Fee In Addition to Photographer Costs, Commercial At cost plus At cost plus Plus Amount $25,00 $25.00
167 Fee In Addition to Photographer Costs, Private At cost plus At cost plus Plus Amount $6.10 $6.10
168 Fee for Use of Negatives At cost plus At cost plus
Plus Amount $6.10 $6.10
PLANNING DEPARTMENT
Building Services
Special Notes: Unless otherwise noted, whenever a "Deposit" amount is listed, applicant pays processing fee plus deposit; a portion of these charges may be refunded if actual cost is less than the processing/deposit fees collected. 169 Duplicate Building Permit Inspection Card $18.00 $18.00 170 Reactivating Expired Building Permit $295.00 $295.00 171 Construction Notice Sign Fee $15.00 $15.00
172 New Address/Change $326.00 $326.00
173 Each Additional Address $96.00 $96.00
174 Demolition Permit $218.00 $218.00
175 New Wireless Tower/Antenna $1,516.00 $1,516.00
176 New Wireless Tower/Antenna on Rooftop or Building $1,850.00 $1,850.00 177 New Sign All Types (First 3 signs) $380.00 $380.00
178 New Sign All Types (each additional sign) $163.00 $163.00 179 New Sign All Types with Electrical (First 3 signs) $456.00 $456.00 180 New Sign All Types with Electrical (each additional sign) $163.00 $163.00 181 Stucco/siding building up to 5000 square feet $406.00 $406.00 182 Stucco/siding building> - 5001 square feet $581.00 $581.00 183 Window Change 1-5 $112.00 $112.00
184 Window Change Out each additional after first 5 $24,00 $24.00 185 Alternate Method and Materials (4 hour minimum) $1,271.00 $1,271.00 186 Alternate Method and Materials (each additional hour or fraction) $292.00 $292.00 187 Grading up to 100 cubic yards $4,798.00 $4,798.00
188 Grading over 100 up to 500 cubic yards $5,765.00 $5,765.00 189 Grading over 500 up to 1,000 cubic yards $6,374.00 $6,374.00 190 Grading over 1,000 to 10,000 cubic yards $9,468.00 $9,468.00 191 Grading over 10,000 cubic yards to 100,000 cubic yards $12,564.00 $12,564.00 Pages of 48
INFORMATION ONLY
ITEM 9
9. THE AUDITOR'S COMMUNICATION WITH THOSE
CHARGED WITH GOVERNANCE PURSUANT TO
STATEMENTS ON AUDITING STANDARDS NO
114
1611 E. Fourth Street, Suite 200
Santa Ana, CA 92701
(714) 569-1000
203 N. Brea Blvd, Suite 203
Brea, CA 92821
(714) 672-0022
21 Waterway Avenue, Suite 30089
The Woodlands, TX 77380
(936) 828-4587
2151 River Plaza Dr., Suite 150
Sacramento, CA 95833
(916) 503-9691
24422 Avenida de la Carlota, Suite 275
Laguna Hills, CA 92653
(949) 829-8299
www.lslcpas.com
June 13, 2024
To the Honorable Mayor and Members of the City Council
City of Pasadena
Pasadena, CA
Attention: Victor M. Gordo, Mayor
This letter is intended to communicate certain matters related to the planned scope and timing of our audit of the City of Pasadena’s (the Organization) financial statements as of and for the year ending June 30, 2024. The scope of this engagement also includes audits of the Pasadena Water and Power, the Pasadena Housing Successor Fund, the Successor to PCDC Fund, the Workforce Devel opment Board, the City of Pasadena Air Quality Management Fund, and the Single Audit (if applicable), for the year ending June 30, 2024.
Communication
Effective two-way
communication between our firm and the Honorable Mayor and Members of the City Council is important to understanding matters related to the audit and developing a constructive working relationship.
Your insights may assist us in understanding the Organization and its environment, identifying appropriate sources of audit evidence and providing information about specific tran sactions or events. We w ill discuss with you your oversight of the effectiveness of internal control and any area s where you request additional procedures to be undertaken. We expect that you will timely communicate to us any matters you consider relevant to the audit. Such matters might include strategic decisions that may significantl y affect the nature, timing and extent of audit procedures, your suspicion or detection of fraud, or any concerns you may have about the integrity or competence of senior management.
We will timely communicate to you any fraud involving senior management and other fraud that causes a material misstatement of the financial st atements, instances of noncompliance with laws and regulations that come to our attention (unless they are cle arly inconsequential), and disagr eements with management and other serious difficulties encountered in performing the audit. We also will communicate to you and to management any significant deficiencies or material weaknesses in internal control that be come known to us during the course of the audit.
Additionally, we will communicate significant unusual transactions, matters that are difficult or contentious for which we consulted outside the engagement team, and circumstances tha t affect the form and content of the auditor’s report. Other matters arising from the audit that are, in our professional judgment, significant and relevant to you in your oversight of the financial reporting process will be communicated to you in writing.
Shared Responsibilities: AICPA Independence
The America
n Institute of Certified Public Accountants (AICPA) regularly emphasizes that auditor independence is a joint responsibility and is managed most effectively when man agement, audit committees (or their equivalents), and audit firms work together in considering compliance with AI CPA independence rules. For LSL to fulfill its professional responsibility to maintain and monitor independenc e, management, the Honorable Mayor and Members of the City Council, and LSL each play an important role.
Attachment A
Victor M. Gordo, Mayor
City of Pasadena
June 13, 2024
Our responsibilities
AICPA rules require independence both of mind and in appearance when providing audit and other attestation services. LSL is to ensure that the AICPA’s General Requirements for performing non-attest services are adhered to and included in all letters of engagement. Maintain a system of quality management over compliance with i ndependence rules and firm policies.
Identify and assess threats to independence.
Exercise professional judgement in maintaining independence. Maintain objectivity and impartiality in all engagements. Adhere to relevant ethical principles and standards.
Ensure that conflicts of interest are appropriately managed. Disclose any relationships or interests that may impair independence. Collaborate with colleagues and stakeholders to uphold independence standards. Seek guidance or clarification when faced with independence issues or conflicts.
Your responsibilities
Ensure cooperation with auditors and providing access to necessary information. Maintain accurate records and documentation for audit purposes. Disclose any conflicts of interest or relationships that may impact the audit process. Provide timely responses to auditor inquiries and requests. Collaborate with auditors to address any identified deficiencies or areas for improvement. Comply with relevant laws, regulations, and standards applicable to the audit process. Facilitate open communication with auditors to ensure a thorough and effective audit. Implement recommendations or corrective actions resulting from audit findings. Respect auditor independence and impartiality throughout the audit process. Engage in discussions with auditors to resolve any disagreemen ts or disputes regarding audit findings.
Victor M. Gordo, Mayor
City of Pasadena
June 13, 2024
Our Independence Policies and Procedures
Our inde
pendence policies and procedures are designed to provid e reasonable assurance that our firm and its personnel comply with applicable professional independence standards. Our policies address financial interests, business and family relationships, and non-audit services that may be thought to bear on independence. For example, our partners and professional employees are restricted in their ability to own a direct financial interest or a material indirect financial interest in a client or any affil iate of a client. Also, if an immediate family member or close relative of a partner or professional employee is employed by a client in a key position, the incident must be reported and resolved in accordance with firm policy. In addition, our policies prohibit us from providing certain non- attest services and require audit clients to accept certain responsibilities in connection with the provision of permitted non-attest services.
The Audit Planning Process
Our audit
approach places a strong emphasis on obtaining an und erstanding of how your organization functions.
This enables us to identify key audit components and tailor our procedures to the unique aspects of your business.
The development of a specific audit plan will begin by meeting with you and with management to obtain an understanding of your business objectives, strategies, risks and performance.
As part of obtaining an understanding of your organization and its environment, we will obtain an understanding of your system of internal control. We will use this understanding to identify risks of material misstatement, which will provide us with a basis for designing and implementing responses to the assessed risks of material misstatement.
We will also obtain an underst anding of the users of the financ ial statements in order to establish an overall materiality level for audit purposes. We will conduct formal discussions among engagement team members to consider how and where your financial statements might be susce ptible to material misstatement due to fraud or error.
The Concept of Materiality in Planning and Executing the Audit We appl
y the concept of materiality in both planning and perfor ming the audit; evaluating the effect of identified misstatements on the audit and the effect of uncorrected missta tements, if any, on the financial statements; and forming the opinion in our report. Our determination of materiality is a matter of professional judgment and is affected by our perception of the financial information needs of users of the financial statements. We establish performance materiality at an amount less than materiality for the financia l statements as a whole to allow for the risk of misstatements that may not be detected by the audit. We use per formance materiality for purposes of assessing the risks of material misstatement and determining the nature, timing and extent of further audit procedures. Our assessment of materiality throughout the audit will be based on both quantitative and qualitative considerations.
Because of the interaction of quantitative and qualitative considerations, misstatements of a relatively small amount could have a material effect on the current financial statement s as well as financial statements of future periods.
We will accumulate misstatements identified during the audit, other than those that are clearly trivial. At the end of the audit, we will inform you of all individual uncorrected mis statements aggregated by us in connection with our evaluation of our audit test results.
Significant Risks of Material Misstatement
Our audit
of the financial statements includes the performance of risk assessment procedures in order to identify risks of material misstatement, whether due to fraud or error. As part of these risk assessment procedures, we determine whether any risks identified are a significant risk. A significant risk is an identified risk of material misstatement for which the asse ssment of inherent risk is close to the upper end of the spectrum of inherent risk due to the degree to which inherent risk factors affect the combination of the likelihood of a misstatement occurring and the magnitude of the potential misstatement should that mis statement occur, or that is to be treated as a significant risk in accordance with auditing standards generall y accepted in the United Stat es of America. As part of our initial risk assessment procedures, we identified the following risks as significant risks. Additional significant risks may be identified as we perform additional audit procedures.
Victor M. Gordo, Mayor
City of Pasadena
June 13, 2024
Risk Name Risk Description Planned Response
Management
Override of
Controls
Management override of
controls poses a significant risk
to financial reporting integrity,
potentially leading to fraudulent
activities such as
misrepresentation of financial
statements, unauthorized
transactions, asset
misappropriation, and collusion.
This risk arises when
management manipulates or
circumvents established
controls to conceal
irregularities, evade detection,
and achieve personal gain.
A robust audit response to management override of
controls involves comprehensive testing, including
assessing control effectiveness, analyzing transactional data for anomalies, conducting substantive procedures,
evaluating management's integrity, reviewing
documentation and audit trails, considering external
corroborative evidence, and maintaining professional
skepticism throughout the audit process.
Improper
Revenue
Recognition Due
to Fraud
Improper revenue recognition
due to fraud involves
deliberately misrepresenting the
timing or amount of revenue in
financial statements to deceive
stakeholders. This fraudulent
practice may entail recognizing
revenue prematurely, inflating
revenue or receivables figures,
or fabricating transactions to
portray a healthier financial
picture than reality. By
manipulating revenue
recognition, perpetrators can
artificially boost profitability,
meet financial targets, or
purport to comply with debt
covenants. This deceitful
conduct not only distorts
financial performance but also
undermines investor trust,
leading to severe repercussions
for the organization's reputation,
financial stability, and legal
liabilities.
Responding to the risk of improper revenue recognition
due to fraud includes conducting thorough analytical
procedures to identify irregularities, examining
supporting documentation for transactions, assessing
the effectiveness of internal controls over revenue
recognition, scrutinizing revenue recognition policies
and procedures for compliance with accounting
standards, and performing substantive testing to verify the accuracy and validity of reported revenue.
Additionally, we will assess management's integrity and ethical behavior, engage in professional skepticism, and consider external corroborative evidence.
Victor M. Gordo, Mayor
City of Pasadena
June 13, 2024
Our Approach to Understanding Your System of Internal Control Our audit
of the financial statements will include obtaining an understanding of internal control sufficient to plan the audit and determine the nature, timing and extent of audit procedures to be performed. A financial statement audit is not designed to provide assurance on internal control or identify significant deficiencies or material weaknesses.
Our review and understanding of the Organization’s internal control is not undertaken for the purpose of expressing an opinion on the effectiveness of internal control.
Timing of the Audit
Preliminar
y audit work is scheduled for the weeks of June 17, 2024 and June 24, 2024, and we have scheduled final field work for the weeks of October 14, 2024 through Nove mber 15, 2024. Management’s adherence to its closing schedule and timely completion of information used by us in performance of the audit is essential to timely completion of the audit.
Closing
We w
ill be pleased to respond to any questions you have about t he foregoing. We appreciate the opportunity to continue to be of service to the Organization.
This communication is intended solely for the information and use of the Honorable Mayor and Members of the City Council and is not intended to be, and should not be, used by anyone other than this specified party.
EXHIBIT A
Recent Accounting Pronouncements
RECENT ACCOUNTING PRONOUNCEMENTS
The following accounting pronouncements have been issued as of June 13, 2024 but are not yet effective and may affect the future financial reporting by the Organization.
Pronouncement Summary
GASB Statement No.
101, Compensated
Absences
The objective of this statement is to update the recognition an d measurement guidance for compensated absences by aligning the recognition a nd measurement guidance under a unified model and amending certain previously required disclosures.
The statement requires that liabilities for compensated absence s be recognized for leave that has not been used and leave that has been used but not yet paid in cash or settled through noncash means. The statement also establishes g uidance for measuring a liability for leave that has not been used. The req uirements of this statement are effective for fiscal years beginning after Decemb er 15, 2023, and all reporting periods thereafter. The unified recognition and measu rement model in this statement will result in a liab ility for compensa ted absences t hat more appropriately reflects when a government incurs an obligation and will enhanc e the relevance and reliability of information about the liability for compensated absences.
GASB Statement No.
102, Certain Risk
Disclosures
This pronouncement by the GASB add resses certain risk disclosur es for state and local governments. The statement defines concentrations and constraints and requires governments to assess their vuln erability to risks. Governments are also required to disclose information about these risks in their financial state ments. The statement is effective for fiscal years beginning after June 15, 2024, and aims to improve financial reporting by providing essential information about risks to use rs of financial statements.
EXHIBIT B
Industry Insights
INDUSTRY INSIGHTS
We’re excited
to provide relevant industry updates and perspectives to help you and your organization anticipate and address the unique iss ues and challenges facing you. Our insights and analysis help deepen yo ur understanding of industry best practices and stay on top of cha nges to regulatory environment and local economy.
Follow our recent articles available on our website:
https://lslcpas.com/blog/
View all LSL resources: https://lslcpas.com/view-all/
ARTICLE LINK
GASB 96: Lessons Learned for Local Government Organizations https://lslcpas.com/gasb-96- lessons-learned-for-local-
government-organizations/
Let it Go… How to Let Go of Unclaimed Property https://lslcpas.com/let-it-go-how- to-let-go-of-unclaimed-property/
The Federal Data Transparency Act and Your Local Government Agency https://lslcpas.com/the-federal- data-transparency-act-and-your-
local-government-agency/
The Importance of Month-end Close Process in Your Local Government Finance Department (and 4 Software Solutions To Help Get It Done https://lslcpas.com/the-
importance-of-month-end-close-
process-in-your-local-government-
finance-department-and-4-
software-solutions-to-help-get-it-
done/
Many more! https://lslcpas.com/blog/
INFORMATION ONLY
ITEM 10
10. ROSE BOWL OPERATING COMPANY FINANCIAL
UPDATE
DEPARTMENT OF FINANCE
September 23, 2024
TO: Finance Committee
FROM: Matthew E. Hawkesworth
Director of Finance �
SUBJECT: Rose Bowl Operating Company Financial Update
Per Section 7.3.10.c of the Operating Agreement with the Rose Bowl Operating Company, the attached financial updates; Flash Reports, are being shared with the Finance Committee.
The Flash Reports for the Flea Market show continued strength on the revenue and net income through April 2024, with net income of $1.52 million, which is 18% above the forecast. The Golf Course complex through March 2024 also realized positive year-to date net income of $1.97 million, which was approximately 25% higher than the budget.
Attachments: (1)
A - Flash Reports through April 2024
FLEA MARKET
4/14/2024 AS OF: 6/4/2024
Year to Year Weather: 4/14/2023 4/14/2024
63 54
65 Var %
of PY 12 Month YTD April 2023
Actual Budget Variance Actual Budget Variance YTD FY24 Budget Actuals Attendance 17,130 16,145 985 192,220 170,829 21,391 13% 209,616 173,076 Admissions (Buyers) 83,618 69,727$ 13,890 919,073 737,796 $ 181,277 25% 905,313$ 831,995 Rentals (Vendors) 54,373 40,860$ 13,513 529,177 432,349 $ 96,828 22% 530,514$ 486,201 License Fee (Rent) 137,991 110,588 27,403 1,448,250 1,170,145 278,105 24% 1,435,827 1,318,196 Expenses (Net) (14,008) (3,994) (10,014) (140,433) (40,684) (99,749) 245% (49,185) (87,122) Concessions (Net) 7140 LESS 7953 10,945 12,250 (1,305) 177,358 129,622 47,736 37% 159,053 166,289 Parking (Net) 6982 3,850 3,490 360 38,079 34,616 3,463 10% 41,400 22,900 Net Event Income 138,778$ 122,333$ 16,444 $ 1,523,254$ 1,293,699$ 229,555$ 18% 1,587,094$ 1,420,262$ 96% of Budget
* Budgeted expenses are used for certain outstanding expenses
CURRENT MONTH CURRENT YEAR YTD THRU
04/2024 04/2024
DocuSign Envelope ID: E998BA00-A9C7-4B0A-A208-B3A02FC88AD7
FLEA MARKET
3/10/2024 AS OF: 6/4/2024
Year to Year Weather: 3/10/2023 3/10/2024
63 64
65 Var %
of PY 12 Month YTD March 2023
Actual Budget Variance Actual Budget Variance YTD FY24 Budget Actuals Attendance 28,068 21,012 7,056 175,090 154,684 20,406 13% 209,616 156,719 Admissions (Buyers) 130,427 90,747$ 39,679 835,456 668,069 $ 167,387 25% 905,313$ 754,048 Rentals (Vendors) 54,055 53,178$ 877 474,804 391,488 $ 83,315 21% 530,514$ 436,590 License Fee (Rent) 184,481 143,925 40,556 1,310,259 1,059,557 250,702 24% 1,435,827 1,190,638 Expenses (Net) (12,161) (4,378) (7,783) (126,424) (36,690) (89,735) 245% (49,185) (76,630) Concessions (Net) 7140 LESS 7953 27,418 15,943 11,475 166,412 117,372 49,040 42% 159,053 147,630 Parking (Net) 6982 3,333 3,343 (11) 34,229 31,126 3,103 10% 41,400 20,175 Net Event Income 203,070$ 158,834$ 44,237 $ 1,384,476$ 1,171,365$ 213,111$ 18% 1,587,094$ 1,281,813$ 87% of Budget
* Budgeted expenses are used for certain outstanding expenses
CURRENT MONTH CURRENT YEAR YTD THRU
03/2024 03/2024
DocuSign Envelope ID: E998BA00-A9C7-4B0A-A208-B3A02FC88AD7
GOLF COURSE COMPLEX -FLASH REPORT
Report Date: 6/4/2024
Variance YTD
% of 12 MONTHS March '23
Actual Budget Variance Actual Budget Variance Budget Orig. Budget Actual Golf Operations Only (Net) 266,427 $ 321,941 $ (55,514) 1,769,701$ 1,839,672$ (69,971) -4% 2,593,271 1,583,063$ Golf Displacement offset
(eg Net parking and golf closure)
- - - 669,000 553,000 116,000 21% 940,000 789,000 Events (Net) - 6,648 (6,648) 337,659 59,831 277,829 464% 79,774 26,702 Subtotal: 266,427 328,589 (62,162) 2,776,360 2,452,503 323,857 13% 3,613,045 2,398,765 Food & Beverage (Net) 27,621 68,713 (41,091) 426,096 396,770 29,326 7% 566,860 # 83,685 Lessons (Net) 2,150 2,150 - 16,605 13,000 3,605 28% 17,550 # 10,800 Pro Shop (Net) 19,758 13,710 6,048 143,593 126,841 16,752 13% 167,673 # 121,018 Golf Complex Net Income 315,956 413,161 (97,205) 3,362,653 2,989,113 373,541 12% 4,365,129 # 2,614,267 Overhead Expenses (YTD Estimates) (1,037,273) (1,037,273) - (1,383,030) (719,345) - Cost Recovery/Interest - - - - - . .
Set Aside for Capital (355,140) (376,422) 21,282 -6% (585,390) (294,540) TOTAL RENT - GOLF COURSE COMPLEX 315,956 $ 413,161 $ (97,205)$ 1,970,241$ 1,575,418$ 394,823$ 2,396,709$ # 1,600,383$ Variance from Prior YTD: 369,858$ 23%
*Estimated AGC FY24 Commission $275,086.50
Statistical Summary:
Monthly Rounds 12,870 13,853 (983) 100,290 107,304 (7,014) -7% 143,630 98,180 Playable Days 25 29 (4) 223 234 (11) 310 214
Rounds/Day 515 478 37 450 459 (9) 463 459
Avg Green fee + Cart fee Per Round 44.27 $ 40.64 $ 3.63$ 46.04$ 41.83$ 4.21$ 43.17$ 41.93$ Average Range Fees Per Round 5.23 $ 5.49 $ (0.26)$ 5.92$ 5.57$ 0.35$ 5.47$ 6.43$ Total Revenue Per Round 49.50 $ 46.13 $ 3.37$ 51.96$ 47.40$ 4.56$ 10% 48.64 $ 48.36$ Current Month YTD
3/31/2024 3/31/2024
DocuSign Envelope ID: E998BA00-A9C7-4B0A-A208-B3A02FC88AD7
GOLF COURSE COMPLEX -FLASH REPORT
Report Date: 6/4/2024
Variance YTD
% of 12 MONTHS March '23
Actual Budget Variance Actual Budget Variance Budget Orig. Budget Actual Current Month YTD
3/31/2024 3/31/2024
DETAILS GOLF COURSE
Golf Revenues:
DF/Gst-Greens 326,807 330,000 (3,193) 2,792,390 2,760,000 32,390 DF/Gst-Greens No Show 3,903 - 3,903 59,835 - 59,835 Tournament-Greens 113,413 100,000 13,413 673,003 605,000 68,003 DF/Gst-Carts 112,378 120,000 (7,622) 964,406 980,000 (15,594) DF/Gst-Carts Employee - - - - - -
Trn-Carts 13,194 13,000 194 127,957 143,000 (15,043) Driving Range-Range Fees 13,434 18,000 (4,566) 110,249 109,000 1,249 Driving Range-Key - - - - - -
Driving Range-Tournament - - - - - -
Driving Range-Player's Club 53,886 58,000 (4,114) 483,446 489,000 (5,554) Other Golf-Club Rental - - - - - -
Other Golf-Reservation - - - - - -
Misc. Operating Income 4,514 - 4,514 (1,010) - (1,010) Total Golf Revenues 641,530 639,000 2,530 5,210,277 5,086,000 124,277 2% 6,970,476 4,734,703 Golf Expenses:
Payroll and Related Expenses (167,141) (172,134) 4,993 (1,488,604) (1,549,203) 60,599 General and Admin (15,594) (13,250) (2,344) (162,725) (119,250) (43,475) Property Taxes (759) (1,500) 741 (6,835) (13,500) 6,665 Routine Repairs & Maintenance (33,834) (10,200) (23,634) (167,205) (115,800) (51,405) Management Fee Expense (29,433) (29,775) 342 (264,897) (267,975) 3,078 Other Oper. Expenses (94,320) (51,400) (42,920) (622,098) (464,150) (157,948) Utilities-Water (21,279) (30,000) 8,721 (644,452) (635,000) (9,452) Utilities-Power/Nat Gas (10,621) (8,000) (2,621) (69,681) (72,000) 2,319 Utilities-Telephone (1,956) (100) (1,856) (6,006) (900) (5,106) Utilities-Security System (505) - (505) (4,857) (2,250) (2,607) Utilities-TV Cable 338 (100) 438 70 (900) 970
Utilities-Waste Removal - (600) 600 (2,707) (5,400) 2,693 Total Golf Expense (375,105) (317,059) (58,046) (3,439,995) (3,246,328) (193,667) 6% (4,359,205) (3,151,640) Golf Operations Only (Net) 266,415 321,941 (55,516) 1,770,282 1,839,672 (69,390) -4% 2,611,271 1,583,063
DocuSign Envelope ID: E998BA00-A9C7-4B0A-A208-B3A02FC88AD7
GOLF COURSE COMPLEX -FLASH REPORT
Report Date: 6/4/2024
Variance YTD
% of 12 MONTHS March '23
Actual Budget Variance Actual Budget Variance Budget Orig. Budget Actual Current Month YTD
3/31/2024 3/31/2024
OTHER NON-GOLF REVENUES
Golf Displacement offset
(eg Net parking and golf closure) -$ -$ -$ 669,000$ 553,000$ 116,000$ 940,000 789,000 Displacement/Parking Net events YTD: FY23 had 10 events vs FY22 had 2 events.
Events (Net) -$ 6,648 $ (6,648)$ 337,659$ 59,831$ 277,829$ 79,774$ 26,702$ Food & Beverage (Net)
Food & Beverage Subtotal 27,621 68,713 (41,091) 426,096 396,770 29,326 7% 566,860 83,685 - -
Lessons (Net) 2,150 2,150 - 16,605 13,000 3,605 17,550 10,800 Pro Shop (Net) 19,758 13,710 6,048 143,593 126,841 16,752 167,673 121,018 (est to budget)
Golf Complex Net Income 315,944 413,161 (97,207) 3,363,235 2,989,113 374,123 13% 4,383,129 2,603,467 Overhead Expenses (YTD Estiamtes) (1,037,273) (1,037,273) - (1,383,030) (719,345) Cost Recovery/Interest - - - - -
Set Aside for Capital (355,140) (376,422) 21,282 (585,390) (294,540) GOLF COURSE COMPLEX -YTD TOTAL 315,944 413,161 (97,217) 1,970,823 1,575,418 395,405 2,414,709 1,589,583 - - - -
DocuSign Envelope ID: E998BA00-A9C7-4B0A-A208-B3A02FC88AD7
GOLF COURSE COMPLEX -FLASH REPORT
Report Date: 6/4/2024
Variance YTD
% of 12 MONTHS February '23
Actual Budget Variance Actual Budget Variance Budget Orig. Budget Actual Golf Operations Only (Net) 120,945 $ 208,941 $ (87,996) 1,503,274$ 1,517,731$ (14,457) -1% 2,593,271 1,407,360$ Golf Displacement offset
(eg Net parking and golf closure)
- - - 669,000 553,000 116,000 21% 940,000 789,000 Events (Net) 347,647 6,648 340,999 337,659 53,183 284,476 535% 79,774 26,702 Subtotal: 468,592 215,589 253,003 2,509,933 2,123,914 386,019 18% 3,613,045 2,223,062 Food & Beverage (Net) 36,603 26,313 10,290 398,474 328,057 70,418 21% 566,860 # 44,894 Lessons (Net) 2,125 2,150 (25) 14,455 10,850 3,605 33% 17,550 # 9,550 Pro Shop (Net) 7,108 12,485 (5,377) 123,835 113,131 10,705 9% 167,673 # 112,225 Golf Complex Net Income 514,428 256,536 257,891 3,046,698 2,575,951 470,746 18% 4,365,129 # 2,389,730 Overhead Expenses (YTD Estimates) (922,020) (922,020) - (1,383,030) (639,417) - Cost Recovery/Interest - - - - - . .
Set Aside for Capital (318,180) (334,863) 16,683 -5% (585,390) (260,619) TOTAL RENT - GOLF COURSE COMPLEX 514,428 $ 256,536 $ 257,891$ 1,806,498$ 1,319,068$ 487,429$ 2,396,709$ # 1,489,694$ Variance from Prior YTD: 316,804$ 21%
*Estimated AGC FY24 Commission $275,086.50
Statistical Summary:
Monthly Rounds 8,465 12,472 (4,007) 87,420 93,451 (6,031) -6% 143,630 86,873 Playable Days 19 24 (5) 198 205 (7) 310 192
Rounds/Day 446 520 (74) 442 456 (14) 463 452
Avg Green fee + Cart fee Per Round 44.50 $ 36.08 $ 8.42$ 46.30$ 42.01$ 4.29$ 43.17$ 42.86$ Average Range Fees Per Round 7.12 $ 5.29 $ 1.83$ 6.02$ 5.59$ 0.43$ 5.47$ 6.45$ Total Revenue Per Round 51.62 $ 41.37 $ 10.25$ 52.32$ 47.60$ 4.72$ 10% 48.64 $ 49.31$ Current Month YTD
2/29/2024 2/29/2024
DocuSign Envelope ID: E998BA00-A9C7-4B0A-A208-B3A02FC88AD7
GOLF COURSE COMPLEX -FLASH REPORT
Report Date: 6/4/2024
Variance YTD
% of 12 MONTHS February '23
Actual Budget Variance Actual Budget Variance Budget Orig. Budget Actual Current Month YTD
2/29/2024 2/29/2024
DETAILS GOLF COURSE
Golf Revenues:
DF/Gst-Greens 235,154 280,000 (44,846) 2,465,583 2,430,000 35,583 DF/Gst-Greens No Show 2,408 - 2,408 55,932 - 55,932 Tournament-Greens 57,662 55,000 2,662 559,590 505,000 54,590 DF/Gst-Carts 68,291 100,000 (31,710) 852,028 860,000 (7,972) DF/Gst-Carts Employee - - - - - -
Trn-Carts 13,176 15,000 (1,824) 114,763 130,000 (15,237) Driving Range-Range Fees 7,851 11,000 (3,149) 96,815 91,000 5,815 Driving Range-Key - - - - - -
Driving Range-Tournament - - - - - -
Driving Range-Player's Club 52,443 55,000 (2,557) 429,560 431,000 (1,440) Other Golf-Club Rental - - - - - -
Other Golf-Reservation - - - - - -
Misc. Operating Income (506) - (506) (5,525) - (5,525) Total Golf Revenues 436,479 516,000 (79,521) 4,568,747 4,447,000 121,747 3% 6,970,476 4,182,050 Golf Expenses:
Payroll and Related Expenses (173,554) (172,134) (1,420) (1,321,463) (1,377,069) 55,606 General and Admin (17,550) (13,250) (4,300) (147,131) (106,000) (41,131) Property Taxes (759) (1,500) 741 (6,075) (12,000) 5,925 Routine Repairs & Maintenance (17,939) (10,200) (7,739) (133,370) (105,600) (27,770) Management Fee Expense (29,433) (29,775) 342 (235,464) (238,200) 2,736 Other Oper. Expenses (57,595) (51,400) (6,195) (527,777) (412,750) (115,027) Utilities-Water (6,685) (20,000) 13,315 (623,173) (605,000) (18,173) Utilities-Power/Nat Gas (10,621) (8,000) (2,621) (59,060) (64,000) 4,940 Utilities-Telephone (567) (100) (467) (4,050) (800) (3,250) Utilities-Security System (829) - (829) (4,352) (2,250) (2,102) Utilities-TV Cable - (100) 100 (268) (800) 532
Utilities-Waste Removal - (600) 600 (2,707) (4,800) 2,093 Total Golf Expense (315,533) (307,059) (8,474) (3,064,890) (2,929,269) (135,621) 5% (4,359,205) (2,774,690) Golf Operations Only (Net) 120,935 208,941 (87,996) 1,503,857 1,517,731 (13,874) -1% 2,611,271 1,407,360
DocuSign Envelope ID: E998BA00-A9C7-4B0A-A208-B3A02FC88AD7
GOLF COURSE COMPLEX -FLASH REPORT
Report Date: 6/4/2024
Variance YTD
% of 12 MONTHS February '23
Actual Budget Variance Actual Budget Variance Budget Orig. Budget Actual Current Month YTD
2/29/2024 2/29/2024
OTHER NON-GOLF REVENUES
Golf Displacement offset
(eg Net parking and golf closure) -$ -$ -$ 669,000$ 553,000$ 116,000$ 940,000 789,000 Displacement/Parking Net events YTD: FY23 had 10 events vs FY22 had 2 events.
Events (Net) 347,647$ 6,648$ 340,999$ 337,659$ 53,183$ 284,476$ 79,774$ 26,702$ Food & Beverage (Net)
Food & Beverage Subtotal 36,603 26,313 10,290 398,474 328,057 70,418 21% 566,860 44,894 - -
Lessons (Net) 2,125 2,150 (25) 14,455 10,850 3,605 17,550 9,550 Pro Shop (Net) 7,108 12,485 (5,377) 123,835 113,131 10,705 167,673 112,225 (est to budget)
Golf Complex Net Income 514,418 256,536 257,892 3,047,281 2,575,951 471,329 18% 4,383,129 2,380,180 Overhead Expenses (YTD Estiamtes) (922,020) (922,020) - (1,383,030) (639,417) Cost Recovery/Interest - - - - -
Set Aside for Capital (318,180) (334,863) 16,683 (585,390) (260,619) GOLF COURSE COMPLEX -YTD TOTAL 514,418 256,536 257,882 1,807,081 1,319,068 488,012 2,414,709 1,480,144 - - - -
DocuSign Envelope ID: E998BA00-A9C7-4B0A-A208-B3A02FC88AD7
GOLF COURSE COMPLEX -FLASH REPORT
Report Date: 6/4/2024
Variance YTD
% of 12 MONTHS January '23
Actual Budget Variance Actual Budget Variance Budget Orig. Budget Actual Golf Operations Only (Net) 186,349 $ 191,591 $ (5,242) 1,382,900$ 1,308,790$ 74,110 6% 2,593,271 1,227,634$ Golf Displacement offset
(eg Net parking and golf closure)
73,000 55,000 18,000 669,000 553,000 116,000 21% 940,000 789,000 Events (Net) - 6,648 (6,648) (5,694) 46,535 (52,229) -112% 79,774 26,702 Subtotal: 259,349 253,239 6,110 2,046,206 1,908,325 137,881 7% 3,613,045 2,043,336 Food & Beverage (Net) (532) 18,814 (19,346) 362,045 301,744 60,301 20% 566,860 # 80,791 Lessons (Net) 2,150 - 2,150 12,330 8,700 3,630 42% 17,550 # 7,550 Pro Shop (Net) 20,436 12,485 7,951 116,728 100,646 16,081 16% 167,673 # 101,430 Golf Complex Net Income 281,403 284,537 (3,134) 2,537,309 2,319,415 217,894 9% 4,365,129 # 2,233,106 Overhead Expenses (YTD Estimates) (691,515) (691,515) - (1,383,030) (559,490) - Cost Recovery/Interest - - - - - . .
Set Aside for Capital (236,865) (242,934) 6,069 -2% (585,390) (226,698) TOTAL RENT - GOLF COURSE COMPLEX 281,403 $ 284,537 $ (3,134)$ 1,608,929$ 1,384,966$ 223,963$ 2,396,709$ # 1,446,918$ Variance from Prior YTD: 162,011$ 11%
Statistical Summary:
Monthly Rounds 10,872 11,422 (550) 78,955 80,978 (2,023) -2% 143,630 75,566 Playable Days 26 28 (2) 179 181 (2) 310 169
Rounds/Day 418 408 10 441 447 (6) 463 447
Avg Green fee + Cart fee Per Round 45.01 $ 38.00 $ 7.01$ 46.50$ 42.91$ 3.59$ 43.17$ 42.52$ Average Range Fees Per Round 5.96 $ 5.78 $ 0.18$ 5.90$ 5.63$ 0.27$ 5.47$ 6.52$ Total Revenue Per Round 50.97 $ 43.78 $ 7.19$ 52.40$ 48.54$ 3.86$ 8% 48.64 $ 49.04$ Current Month YTD
1/31/2024 1/31/2024
DocuSign Envelope ID: E998BA00-A9C7-4B0A-A208-B3A02FC88AD7
GOLF COURSE COMPLEX -FLASH REPORT
Report Date: 6/4/2024
Variance YTD
% of 12 MONTHS January '23
Actual Budget Variance Actual Budget Variance Budget Orig. Budget Actual Current Month YTD
1/31/2024 1/31/2024
DETAILS GOLF COURSE
Golf Revenues:
DF/Gst-Greens 325,146 280,000 45,146 2,230,429 2,150,000 80,429 DF/Gst-Greens No Show 3,364 - 3,364 53,524 - 53,524 Tournament-Greens 52,030 45,000 7,030 501,928 450,000 51,928 DF/Gst-Carts 102,613 100,000 2,613 783,738 760,000 23,738 DF/Gst-Carts Employee - - - - - -
Trn-Carts 6,240 9,000 (2,760) 101,587 115,000 (13,413) Driving Range-Range Fees 12,557 11,000 1,557 88,964 80,000 8,964 Driving Range-Key - - - - - -
Driving Range-Tournament - - - - - -
Driving Range-Player's Club 52,274 55,000 (2,726) 377,117 376,000 1,117 Other Golf-Club Rental - - - - - -
Other Golf-Reservation - - - - - -
Misc. Operating Income (1,107) - (1,107) (5,019) - (5,019) Total Golf Revenues 553,117 500,000 53,117 4,132,268 3,931,000 201,268 5% 6,970,476 3,694,703 Golf Expenses:
Payroll and Related Expenses (186,011) (172,134) (13,877) (1,147,909) (1,204,935) 57,026 General and Admin (18,398) (13,250) (5,148) (129,581) (92,750) (36,831) Property Taxes (759) (1,500) 741 (5,316) (10,500) 5,184 Routine Repairs & Maintenance (17,395) (10,200) (7,195) (115,431) (95,400) (20,031) Management Fee Expense (29,433) (29,775) 342 (206,031) (208,425) 2,394 Other Oper. Expenses (89,100) (52,000) (37,100) (470,183) (361,350) (108,833) Utilities-Water (18,827) (20,000) 1,173 (616,487) (585,000) (31,487) Utilities-Power/Nat Gas (5,695) (8,000) 2,305 (48,439) (56,000) 7,561 Utilities-Telephone (226) (100) (126) (3,482) (700) (2,782) Utilities-Security System (573) (750) 177 (3,523) (2,250) (1,273) Utilities-TV Cable - (100) 100 (268) (700) 432
Utilities-Waste Removal (338) (600) 262 (2,707) (4,200) 1,493 Total Golf Expense (366,758) (308,409) (58,349) (2,749,357) (2,622,210) (127,147) 5% (4,359,205) (2,467,069) Golf Operations Only (Net) 186,349 191,591 (5,232) 1,382,912 1,308,790 74,122 6% 2,611,271 1,227,634
DocuSign Envelope ID: E998BA00-A9C7-4B0A-A208-B3A02FC88AD7
GOLF COURSE COMPLEX -FLASH REPORT
Report Date: 6/4/2024
Variance YTD
% of 12 MONTHS January '23
Actual Budget Variance Actual Budget Variance Budget Orig. Budget Actual Current Month YTD
1/31/2024 1/31/2024
OTHER NON-GOLF REVENUES
Golf Displacement offset
(eg Net parking and golf closure) 73,000$ 55,000$ 18,000$ 669,000$ 553,000$ 116,000$ 940,000 789,000 Displacement/Parking Net events YTD: FY23 had 10 events vs FY22 had 2 events.
Events (Net) -$ 6,648 $ (6,648)$ (5,694)$ 46,535$ (52,229)$ 79,774$ 26,702$ Food & Beverage (Net)
Food & Beverage Subtotal (532) 18,814 (19,346) 362,045 301,744 60,301 20% 566,860 80,791 - -
Lessons (Net) 2,150 - 2,150 12,330 8,700 3,630 17,550 7,550 Pro Shop (Net) 20,436 12,485 7,951 116,728 100,646 16,081 167,673 101,430 (est to budget)
Golf Complex Net Income 281,404 284,537 (3,123) 2,537,320 2,319,415 217,905 9% 4,383,129 2,225,556 Overhead Expenses (YTD Estiamtes) (691,515) (691,515) - (1,383,030) (559,490) Cost Recovery/Interest - - - - -
Set Aside for Capital (236,865) (242,934) 6,069 (585,390) (226,698) GOLF COURSE COMPLEX -YTD TOTAL 281,404 284,537 (3,133) 1,608,940 1,384,966 223,974 2,414,709 1,439,368 - - - -
DocuSign Envelope ID: E998BA00-A9C7-4B0A-A208-B3A02FC88AD7
INFORMATION ONLY
ITEM 11
11. PASADENA CENTER OPERATING COMPANY
FINANCIAL UPDATE
/-------- Year - to - Date Through /
Actual Budget
Actual vs.
Budget Prior Year CY vs. PY
% Change
CY vs. PY
FY 2024
Revised Budget
Fav / (unfav) Fav / (unfav)
Period Ended
May 2024
Operating Revenue
Convention Center 2,508,000$ 2,587,000$ (79,000)$ 2,741,000$ (233,000)$ -8.5% 2,885,000$ Other rentals & Commissions 1,877,000 1,815,000 62,000 1,852,000 25,000 1.3% 2,020,000 Subtotal Center revenue 4,385,000 4,402,000 (17,000) 4,593,000 (208,000) -4.5% 4,905,000 Civic Auditorium & Facility Fees 1,532,000 1,492,000 40,000 1,603,000 (71,000) n/a 1,630,000 Food Service Commission 1,084,000 1,035,000 49,000 858,000 226,000 26.3% 1,075,000 Parking Garage 1,745,000 1,820,000 (75,000) 1,850,000 (105,000) -5.7% 2,000,000 Ice Skating Center 3,064,000 2,938,000 126,000 3,062,000 2,000 0.1% 3,100,000 Total Operating Revenues 11,810,000 11,687,000 123,000 11,966,000 (156,000) -1.3% 12,710,000 Investment Earnings 87,000 23,000 64,000 8,000 79,000 987.5% 275,000 Total Revenues: 11,897,000 11,710,000 187,000 11,974,000 (77,000) -0.6% 12,985,000 Center Operating Expenses
Convention Center 6,660,000 7,512,000 852,000 5,768,000 (892,000) -15.5% 8,141,000 Parking Garage Expense
318,000 366,000 48,000 249,437 (68,563) -27.5% 400,000 Ice Skating Center 1,744,000 1,833,000 89,000 1,534,000 (210,000) -13.7% 1,990,000 Total Center Operating Expense 8,722,000 9,711,000 989,000 7,551,437 (1,170,563) -15.5% 10,531,000 Operating Results: 3,175,000 1,999,000 1,176,000 4,422,563 (1,247,563) -28.2% 2,454,000 Debt Service - Loans - - - 110,000 110,000 100.0% 275,000 Net Gain/(Loss) 3,175,000$ 1,999,000$ 1,176,000$ 4,312,563$ (1,137,563)$ -26.4% 2,179,000$ TOT / Bonds Debt Services
Transient Occupancy Tax 11,241,000 10,852,000 389,000 11,412,000 (171,000) -1.5% 11,700,000 Debt Services & Allowance 9,899,000 11,037,000 1,138,000 9,785,000 (114,000) -1.2% 11,700,000 Net Gain / (Loss) 1,342,000$ (185,000)$ 1,527,000$ 1,627,000$ (285,000)$ -17.5% -$ Convention Visitors Bureau
TBID Assessment 3,698,000 3,666,000 32,000 3,677,000 21,000 0.6% 4,000,000 Convention Visitors Bureau Expenses 2,868,000 3,329,000 461,000 2,577,000 (291,000) -11.3% 3,750,000 Net Gain / (Loss) 830,000$ 337,000$ 493,000$ 1,100,000$ (270,000)$ -24.5% 250,000$ Total PCOC
Total Revenue 26,836,000$ 26,228,000$ 608,000$ 27,063,000$ (227,000)$ -0.8% 28,685,000$ Total Expenses 21,489,000 24,077,000 2,588,000 20,023,437 (1,465,563) -7.3% 26,256,000 Toal Net Gain / (Loss) 5,347,000$ 2,151,000$ 3,196,000$ 7,039,563$ (1,692,563)$ -24.0% 2,429,000$ sage Intell
Attachment A
Fiscal Year 2024
5/31/2024
Projects Location Budget Amount Actual Amount Over / (Under) Status Exterior Waterproofing / Painting Civic exterior Civic 2,300,000.00 768,410.00 (1,531,590.00) General Facility Maintenance Repair
including Civic, Ice Rink, Conference Ctr General 200,000.00 138,377.00 (61,623.00) 2,500,000.00 906,787.00 (1,593,213.00)
Notes: (1) $96,000; equipment purchase and $42,377 repair of electrical motor control center. $768,410; Exterior Waterproofing/Painting expenses including permit fees and payments to Spectra.
Capital Improvements Programs