20/12-22
CITY OF SIMI VALLEY
MEMORANDUM
January 23, 2023
TO: City Council
FROM: Office of the City Manager
SUBJECT: AUTHORIZATION TO ACCEPT AN INSURANCE DISBURSEMENT FOR BUSINESS LOSSES INCURRED DUE TO THE COVID-19 CLOSURE OF
THE SIMI VALLEY CULTURAL ARTS CENTER, AUTHORIZE AN INTER- FUND TRANSFER FROM THE GENERAL LIABILITY FUND (FUND 803) TO THE BUILDING IMPROVEMENT FUND (FUND 655), AND APPROVE
A SUPPLEMENTAL BUDGET REQUEST
STAFF RECOMMENDATION
It is recommended that the City Council:
1. Authorize the acceptance of an insurance disbursement in the amount of $134,362, in the General Liability Fund (803), for business losses incurred due to the COVID-19 closure of the Simi Valley Cultural Arts Center (CAC);
2. Approve a budget supplemental request to appropriate $134,362 in the General Liability Fund (803);
3. Authorize an inter -fund transfer from the General Liability Fund ( 803) to the Building Improvement Fund (655) in the amount of $134,362; and
4. Approve a supplemental budget request of $134,362 in the CAC Repair Project (CP65500001) in the Building Improvement Fund (655).
BACKGROUND AND OVERVIEW
The City is a member of the Alliant Pr operty Insurance Program (A PIP), which includes coverage for Communicable Diseases that includes a $500,000 per occurrence limit and a $10,000,000 program annual aggregate for all APIP members. All members were encouraged to file a formal claim for sustained losses under the Communicable Disease endorsement . APIP appointed McLarens, an outside independent adjuster, to manage the Communicable Disease Endorsement claims. McLarens subsequently retained the firm of Meaden & Moor e to assist in the evaluation of the financial losses and provide a loss calculation. Based on the business income loss calculation of $134,362, which was determined by evaluating the CAC’s historical revenues and expenses as well as staff’s estimated income
AGENDA ITEM NO.
Consent (1)
2 20/12-22
for the Center, s taff is recommending that the City Council authorize acceptance of $134,362 from APIP , approve an inter -fund transfer request f rom the General Liability Fund ( 803) to the CAC Capital Projects Fund ( 655) for c apital improvements and/or equipment acquisition, and a supplemental budget request.
FINDINGS AND ALTERNATIVES
On March 16, 2020, the CAC was forced t o close its doors due to the COVID -19 pandemic. All of the Center’s rental agreements for musicals, concerts, recitals, school talent shows, service and social club luncheons, and CAC produced events were canceled. In addition, all pre -purchased tickets were refunded. What was originally thought to be a short-term interruption in programming turned into an 18-month shutdown that resulted in no rental, pr oduction, and performance income. The CAC reopened in November 2021, however the ongoing concern of COVID-19 exposure among patron attendees (most specifically the s enior population) and performers continue to impact attendance.
The City’s Risk Manager, Trevor Earle, requested the CAC submit documentation regarding any business losses incurred due to the COVID-19 pandemic for the period of March 1, 2020 through March 31, 2021. The CAC prepared the required financial reports utilizing calendar year’s 2018 and 2019 to estimate the income for this period. On May 3, 2022, Mr. Earle received correspondence from Meaden and Moore that included a loss analysis for the CAC utilizing the information provided. The analysis determined the CAC experienced a measured business income loss in the amount of $134,362 ($144,362 less $10,000 deductible).
The following alternatives are available to the City Council:
1. A
ccept insurance disbursement in the General Liability Fund (803), in the amount of $134,362 for business income losses incurred due to the COVID-19 closure of the Simi Valley Cultural Arts Center, approve a supplemental budget request in the General Liability Fund (803), a uthorize an inter -fund transfer from the General Liability Fund ( 803) to the Building Improvement Fund ( 655), and approve a supplemental budget request in the amount of $134,362 in the CAC Repair Project (CP65500001) in the Building Improvement Fund (655);
2. N
ot approve the acceptance of $134,362 insurance payment for losses incurred due to the COVID-19 forced closure of the Simi Valley Cultural Arts Center;
3. P
rovide staff with alternative direction.
S
taff recommends Alternative No. 1.
3 20/12-22
SUGGESTED CITY COUNCIL MOTION
I move to authorize the acceptance of an insurance disbursement in the General Liability Fund (803), in the amount of $134,362 for business income losses incurred due to the COVID-19 closure of the Simi Valley Cultural Arts Center. Approve a supplemental budget request in the General Liability Fund (803) and authorize an inter-fund transfer in the amount of $134,362 from the General Liability Fund (803) to the CAC Repair Project (CP65500001) in the Building Improvement Fund (655), and approve a supplemental budget request in the CAC Repair Project (CP65500001)Building Improvement Fu nd (655) in the amount of $134,362.
SUMMARY
The City received correspondence from Alliant Insurance Services, Inc., stating that as a member of the Alliant Property Insurance Program (APIP) the City’s policy included a provision that addresses Communicable Diseases. The City submitted a claim and documentation on behalf of the CAC. APIP appointed McLarens, an outside independent adjuster, to manage the Communicable Disease Endorsement claims. McLarens retained the firm of Meaden & Moore to assist in the evaluation of the financial losses and provide a loss calculation. The analysis determined the CAC experienced a measured business income loss in the amount of $134,362. Therefore, staff is recommending that the City Council authorize acceptance of $134,362, authorize an inter-fund transfer from the General Liability Fund (803) to the Building Improvement Fund (655), and approve a supplemental budget.
______
______________________________
Linda Swan
Assistant City Manager
Pr
epared By: Fred Helsel, Community Services Manager/CAC INDEX Page
Ex
hibit 1 – CAC Loss Analysis ......................................................... 4 Preliminary IndexIndex of Schedules
City of Simi Valley - Simi Valley, California
Incident of March 12, 2020
Claim No. Various / McLarens No.: 002.051877.DEC 2-14
Schedule Title Schedule Reference Page Reference
Index of Schedules Index 1 of 9
Loss Summary Summary 2 of 9
Summary - Business Income Loss by Insured Location Schedule 1 3 of 9 Calculated Lost Income Per Month Schedule 2 4 of 9
Calculation of Potential Saved Expenses Schedule 3 5 of 9 Analysis of Monthly Income - Cultural Arts Center Schedule 4 6 - 7 of 9 Analysis of Profit and Loss Statements - Cultural Arts Center Schedule 5 8 - 9 of 9 DEC 2-14 - 83099C-PEP - City of Simi Valley - MM Analysis Print Date 5/3/2022
EXHIBIT 1
20a/12-22
4 Preliminary SummaryLoss Summary
City of Simi Valley - Simi Valley, California
Incident of March 12, 2020
Claim No. Various / McLarens No.: 002.051877.DEC 2-14
Note A
Amount
Preliminary Deferred for
Measured Adjuster
Loss Category to Date Consideration Comments
March 12, 2020 - March 31, 2021:
Business Income Loss 144,362$ 144,362$ From Sch 1 Communicable Disease Extra Expense -$ -$ Note B Crisis Response Expense -$ -$ Note B Total Estimated Loss to Date 144,362$ 144,362$ Note C Less: Deductible (10,000)$ (10,000)$ Per Adjuster Total - Net of Deductible 134,362$ 134,362$ Note C Note A: No formal and comprehensive claim presentation was provided for our review.
Note B: To date, no claim or supporting documentation has been provided relative to loss-related expenses.
Note C: The current estimated loss measure is deferred to the adjuster for all coverage-related considerations.
DEC 2-14 - 83099C-PEP - City of Simi Valley - MM Analysis Print Date 5/3/2022
20a/12-22
5 Preliminary Schedule 1Summary - Business Income Loss by Insured Location City of Simi Valley - Simi Valley, California
Incident of March 12, 2020
Claim No. Various / McLarens No.: 002.051877.DEC 2-14
From Sch 5 From Sch 3
From Sch 2 Less Non-Continuing Expenses
Cost of
Lost Goods Sold at Operating Total
Month Revenue 51.52% Expenses Expenses BI Loss
Claimed Affected Period:
March 2020 34,639$
April 47,254$
May 46,151$
June 34,216$
July 46,107$
August 28,476$
September 45,757$
October 43,778$
November 45,126$
December 38,626$
January 2021 45,172$
February 45,046$
March 45,390$
Total 545,738$ 281,164$ 120,212$ 401,376$ 144,362$ To Summary
DEC 2-14 - 83099C-PEP - City of Simi Valley - MM Analysis Print Date 5/3/2022
20a/12-22
6 Preliminary Schedule 2Calculated Lost Income Per Month City of Simi Valley - Simi Valley, California
Incident of March 12, 2020
Claim No. Various / McLarens No.: 002.051877.DEC 2-14
From Sch 4 From Sch 4
Total Income
Projected Actual Lost
Month Income Income Income Comments
Claimed Affected Period:
March 2020 46,087.99$ 11,449.40$ 34,638.59$ To Sch 1 April 46,087.99$ (1,165.51)$ 47,253. 50$ To Sch 1 May 46,087.99$ (62.65)$ 46,150. 64$ To Sch 1 June 46,087.99$ 11,872.11$ 34,215. 88$ To Sch 1 July 46,087.99$ (19.16)$ 46,107. 15$ To Sch 1 August 46,087.99$ 17,611.85$ 28,476. 14$ To Sch 1 September 46,087.99$ 330.90$ 45,757. 09$ To Sch 1 October 46,087.99$ 2,309.72$ 43,778. 27$ To Sch 1 November 46,087.99$ 961.75$ 45,126. 24$ To Sch 1 December 46,087.99$ 7,462.31$ 38,625. 68$ To Sch 1 January 2021 46,087.99$ 915.54$ 45,172. 45$ To Sch 1 February 46,087.99$ 1,041.75$ 45,046. 24$ To Sch 1 March 46,087.99$ 697.66$ 45,390. 33$ To Sch 1 Total 599,143.87$ 53,405.67$ 545,738. 20$ DEC 2-14 - 83099C-PEP - City of Simi Valley - MM Analysis Print Date 5/3/2022
20a/12-22
7 Preliminary Schedule 3Calculation of Potential Saved Expenses City of Simi Valley - Simi Valley, California
Incident of March 12, 2020
Claim No. Various / McLarens No.: 002.051877.DEC 2-14
From Sch 5 From Sch 5
Operating Expenses
Projected Saved /
Expense Actual (Incremental)
Month Per Month Expense Expense Comments
Claimed Affected Period:
March 2020 17,459$
April 17,459$
May 17,459$
June 17,459$
July 17,459$
August 17,459$
September 17,459$
October 17,459$
November 17,459$
December 17,459$
January 2021 17,459$
February 17,459$
March 17,459$
Total 226,967$ 106,755$ 120,212$ To Sch 1 DEC 2-14 - 83099C-PEP - City of Simi Valley - MM Analysis Print Date 5/3/2022
20a/12-22
8 Preliminary Schedule 4Analysis of Monthly Income - Cultural Arts Center City of Simi Valley - Simi Valley, California
Incident of March 12, 2020
Claim No. Various / McLarens No.: 002.051877.DEC 2-14
Source: Profit & Loss Statements
Box Office Income Contributions / Fundraising Grants
Month 2018 2019 2020 2021 2018 2019 2020 2021 2018 2019 2020 2021 January 29,521.38$ 16,644.25$ 40,449.52$ 228.22$ 7,733.00$ - $ - $ 489.06$ - $ (370.84)$ (400.00)$ 196.20$ February 27,864.91$ 18,508.58$ 18,805.37$ - $ - $ - $ - $ 1,041.00$ - $ (15.75)$ 368.00$ - $ March 42,043.20$ 37,782.40$ 2,480.60$ 21.78$ 7,733.00$ - $ 8,214.00$ 500.00$ - $ 1,164.00$ 62.00$ 175.00$ April 20,096.88$ 32,771.47$ (815.00)$ - $ - $ 21.00$ (68.70)$ (766.59)$ (372.92)$ May 17,103.46$ 26,037.10$ (124.00)$ - $ - $ 60.00$ - $ 317.00$ - $ June 25,340.14$ 32,135.95$ 622.44$ 7,733.00$ 16,421.13$ 8,343.42$ 4,926.94$ 821.22$ (20.00)$ July 29,280.00$ 28,686.30$ - $ - $ - $ - $ - $ 216.44$ (20.00)$ August 41,459.80$ 40,373.60$ - $ 785.13$ - $ 1,411.00$ (117.01)$ 48.86$ 16,200.00$ September 34,107.47$ 47,534.17$ (220.00)$ 8,013.00$ - $ 525.00$ - $ 185.00$ 25.00$ October 39,996.20$ 43,971.36$ - $ - $ 8,214.00$ 2,103.00$ (57.27)$ 162.68$ 206.00$ November 37,092.78$ 54,675.17$ (504.00)$ - $ - $ 975.00$ 54.00$ 627.00$ 490.00$ Decem
ber 24,702.01$ 33,937.28$ (96.00)$ 8,013.00$ 8,227.65$ 7,537.52$ 746.53$ 691.00$ 20.00$ Total 368,608.23$ 413,057.63$ 60,598.93$ 250.00$ 40,010.13$ 32,862.78$ 29,189.94$ 2,030.06$ 5,484.49$ 3,080.02$ 16,558.08$ 371.20$ Average Per Month 30,717.35$ 34,421.47$ 5,049.91$ 83.33$ 3,334.18$ 2,738.57$ 2,432.50$ 676.69$ 457.04$ 256.67$ 1,379.84$ 123.73$ Ren
tal Fee Income Concessions Advertising Income
Month 2018 2019 2020 2021 2018 2019 2020 2021 2018 2019 2020 2021 January 5,786.00$ 50.00$ 2,185.00$ - $ 1,273.00$ 531.95$ 829.90$ - $ 175.00$ - $ - $ 1.30$ February 471.74$ 6,201.00$ 6,307.00$ - $ 1,697.50$ 9.60$ 982.00$ - $ - $ - $ 400.00$ - $ March 10,682.25$ 3,140.27$ 372.00$ - $ 778.50$ 118.00$ 18.60$ - $ - $ - $ - $ - $ April 8,762.75$ 5,157.50$ - $ 463.00$ 361.00$ - $ - $ - $ - $ May 3,599.25$ 2,337.92$ - $ 921.50$ 880.00$ - $ 150.00$ - $ - $ June 7,123.50$ 4,952.75$ - $ 111.00$ 273.00$ - $ - $ - $ - $ July 6,486.00$ 4,165.00$ - $ 441.00$ 146.00$ - $ - $ - $ - $ A
ugust 6,795.00$ 4,237.00$ - $ 345.00$ 114.00$ - $ - $ - $ - $ September 1,725.25$ 4,122.00$ - $ 1,118.00$ 1,276.50$ - $ - $ - $ - $ October 11,103.00$ 265.00$ - $ 1,355.00$ 2,064.00$ - $ - $ - $ - $ November 10,152.00$ 3,524.00$ - $ 663.80$ 345.00$ - $ - $ - $ - $ December 6,066.75$ 4,548.00$ - $ 2,024.00$ 2,417.00$ - $ - $ - $ - $ Total 78,753.49$ 42,700.44$ 8,864.00$ - $ 11,191.30$ 8,536.05$ 1,830.50$ - $ 325.00$ - $ 400.00$ 1.30$ Average Per Month 6,562.79$ 3,558.37$ 738.67$ - $ 932.61$ 711.34$ 152.54$ - $ 27.08$ - $ 33.33$ 0.43$ DEC 2-14 - 83099C-PEP - City of Simi Valley - MM Analysis Print Date 5/3/2022
20a/12-22
9 Preliminary Schedule 4Analysis of Monthly Income - Cultural Arts Center City of Simi Valley - Simi Valley, California
Incident of March 12, 2020
Claim No. Various / McLarens No.: 002.051877.DEC 2-14
Source: Profit & Loss Statements
Reimbursed Technical Costs Interest Income Total Income Month 2018 2019 2020 2021 2018 2019 2020 2021 2018 2019 2020 2021 January 7,698.25$ - $ 1,564.50$ - $ 0.57$ 3.34$ 4.28$ 0.76$ 52,187.20$ 16,858.70$ 44,633.20$ 915.54$ February 774.09$ 3,967.75$ 9,927.50$ - $ 0.66$ 3.12$ 3.94$ 0.75$ 30,808.90$ 28,674.30$ 36,793.81$ 1,041.75$ March 1,168.50$ 316.48$ 300.00$ - $ 0.67$ 3.34$ 2.20$ 0.88$ 62,406.12$ 42,524.49$ 11,449.40$ 697.66$ April 7,769.27$ 11,653.60$ - $ 0.71$ 3.37$ 1.41$ 37,023.91$ 49,180.35$ (1,165.51)$ May 1,130.25$ 760.58$ - $ 0.73$ 3.53$ 1.35$ 22,905.19$ 30,336.13$ (62.65)$ June 2,653.75$ 2,303.50$ 2,925.00$ 6.55$ 3.56$ 1.25$ 47,894.88$ 56,911.11$ 11,872.11$ July 8,200.00$ 8,957.60$ - $ 3.51$ 3.74$ 0.84$ 44,410.51$ 42,175.08$ (19.16)$ Aug
ust - $ 2,586.00$ - $ 3.47$ 3.68$ 0.85$ 49,271.39$ 47,363.14$ 17,611.85$ September 7,249.75$ 9,432.40$ - $ 3.30$ 3.59$ 0.90$ 52,216.77$ 62,553.66$ 330.90$ October 5,831.25$ 284.00$ - $ 2.63$ 3.99$ 0.72$ 58,230.81$ 54,965.03$ 2,309.72$ November 1,374.00$ 584.00$ - $ 2.54$ 3.96$ 0.75$ 49,339.12$ 59,759.13$ 961.75$ December 6,883.50$ 11,929.70$ - $ 4.98$ 4.16$ 0.79$ 48,440.77$ 61,754.79$ 7,462.31$ To
tal 50,732.61$ 52,775.61$ 14,717.00$ - $ 30.32$ 43.38$ 19.28$ 2.39$ 555,135.57$ 553,055.91$ 132,177.73$ 2,654.95$ Average Per Month 4,227.72$ 4,397.97$ 1,226.42$ - $ 2.53$ 3.62$ 1.61$ 0.80$ 46,261.30$ 46,087.99$ 11,014.81$ 884.98$ To Sch 2 To Sch 2 To Sch 2
DEC 2-14 - 83099C-PEP - City of Simi Valley - MM Analysis Print Date 5/3/2022
20a/12-22
10 Preliminary Schedule 5Analysis of Profit and Loss Statements - Cultural Arts Center City of Simi Valley - Simi Valley, California
Incident of March 12, 2020
Claim No. Various / McLarens No.: 002.051877.DEC 2-14
Source: Profit & Loss Statements
Pre-Loss:
January 2019 - December 2019
% of Total March April May June July August September October November Description Amount Per Month Income Comments 2020 2020 2020 2020 2020 2020 2020 2020 2020 Income:
Box Office Income 413,057.63$ 34,421.47$ 74.69% 2,480.60 $ (815.00)$ (124.00)$ 622.44 $ - $ - $ (220.00)$ - $ (504.00) $ Contributions/Fundraising 32,862.78$ 2,738.57$ 5.94% 8,214.00 $ 21.00 $ 60.00 $ 8,343.42 $ - $ 1,411.00 $ 525.00 $ 2,103.00 $ 975.00 $ Grants 3,080.02$ 256.67$ 0.56% 62.00 $ (372.92)$ - $ (20.00) $ (20.00) $ 16,200.00 $ 25.00 $ 206.00 $ 490.00 $ Rental Fee Income 42,700.44$ 3,558.37$ 7.72% 372.00 $ - $ - $ - $ - $ - $ - $ - $ - $ Concessions 8,536.05$ 711.34$ 1.54% 18.60 $ - $ - $ - $ - $ - $ - $ - $ - $ Advertising Income - $ - $ 0.00% -$ - $ - $ - $ - $ - $ - $ - $ - $ Reimbursed Technical Costs 52,775.61$ 4,397.97$ 9.54% 300.00 $ - $ - $ 2,925.00 $ - $ - $ - $ - $ - $ Interest Income 43.38$ 3.62$ 0.01% 2.20 $ 1.41 $ 1.35 $ 1.25 $ 0.84 $ 0.85 $ 0.90 $ 0.72 $ 0.75 $ Total
Income 553,055.91$ 46,087.99$ 100.00% 11,449.40 $ (1,165.51)$ (62.65)$ 11,872.11 $ (19.16) $ 17,611.85 $ 330.90 $ 2,309.72 $ 961.75 $ Cost of Goods Sold:
Special Events 2,112.89$ 176.07$ 0.38% 251.47 $ 137.54 $ - $ - $ - $ - $ - $ - $ - $ Artists Fee 24,830.60$ 2,069.22$ 4.49% - $ - $ - $ - $ - $ - $ - $ - $ - $ Concession Supplies 3,743.09$ 311.92$ 0.68% 772.93 $ 119.26 $ 20.00 $ 20.00 $ 20.00 $ - $ 40.00$ 25.78 $ - $ Supplies 12,377.83$ 1,031.49$ 2.24% 105.27 $ 69.67 $ - $ - $ - $ - $ - $ - $ - $ Provider Payments (Tot Box Rec) 221,619.50$ 18,468.29$ 40.07% - $ - $ - $ 5,501.60 $ - $ - $ - $ - $ - $ Advertising & Marketing 17,550.34$ 1,462.53$ 3.17% 744.74 $ 77.53 $ - $ - $ - $ - $ - $ 43.43 $ - $ Contract Labor 2,683.00$ 223.58$ 0.49% 229.50 $ - $ - $ - $ - $ - $ - $ - $ - $ Total Cost of Goods Sold 284,917.25$ 23,743.10$ 51.52% To Sch 1 2,103.91 $ 404.00 $ 20.00 $ 5,521.60 $ 20.00 $ - $ 40.00 $ 69.21 $ - $ Gross Profit 268,138.66$ 22,344.89$ 48.48% 9,345.49 $ (1,569.51)$ (82.65)$ 6,350.51 $ (39.16) $ 17,611.85 $ 290.90 $ 2,240.51 $ 961.75 $ Operating Expenses:
City Reimbursement 59,905.00$ 4,992.08$ 10.83% -$ - $ - $ - $ - $ - $ - $ - $ - $ Capital Replacement 9,798.28$ 816.52$ 1.77% 600.60 $ - $ - $ - $ - $ - $ - $ - $ - $ City Reimbursed Staffing 92,452.00$ 7,704.33$ 16.72% 36,500.59 $ - $ 30,253.74 $ - $ - $ - $ 31,579.28 $ - $ - $ Credit Card Service Fees 24,987.80$ 2,082.32$ 4.52% 958.11 $ 491.93 $ 170.70 $ 61.19 $ 60.00 $ 84.40 $ 64.46 $ 177.55 $ 129.56 $ Dues/Licenses/Permits 20,647.79$ 1,720.65$ 3.73% 300.69 $ 231.24 $ 72.24 $ 700.54 $ 319.47 $ - $ 432.14 $ 148.91 $ - $ Professional / Special Services - $ - $ 0.00% - $ - $ - $ - $ - $ - $ - $ - $ - $ Office Expense 1,720.33$ 143.36$ 0.31% 156.72 $ 159.35 $ 27.99 $ - $ 26.76 $ - $ - $ -$ - $ Total Operating Expenses 209,511.20$ 17,459.27$ 37.88% 38,516.71 $ 882.52 $ 30,524.67 $ 761.73 $ 406.23 $ 84.40 $ 32,075.88 $ 326.46 $ 129.56 $ Net Income 58,627.46$ 4,885.62$ 10.60% (29,171.22)$ (2,452.03)$ (30,607.32)$ 5,588.78 $ (445.39) $ 17,527.45 $ (31,784.98)$ 1,914.05 $ 832.19 $ To Sch 3
DEC 2-14 - 83099C-PEP - City of Simi Valley - MM Analysis Print Date 5/3/2022
20a/12-22
11 Preliminary Schedule 5Analysis of Profit and Loss Statements - Cultural Arts Center City of Simi Valley - Simi Valley, California
Incident of March 12, 2020
Claim No. Various / McLarens No.: 002.051877.DEC 2-14
Source: Profit & Loss Statements
Pre-Loss:
January 2019 - December 2019
% of Total
Description Amount Per Month Income Comments
Income:
Box Office Income 413,057.63$ 34,421.47$ 74.69%
Contributions/Fundraising 32,862.78$ 2,738.57$ 5.94% Grants 3,080.02$ 256.67$ 0.56%
Rental Fee Income 42,700.44$ 3,558.37$ 7.72%
Concessions 8,536.05$ 711.34$ 1.54%
Advertising Income - $ - $ 0.00% Reimbursed Technical Costs 52,775.61$ 4,397.97$ 9.54% Interest Income 43.38$ 3.62$ 0.01% Total Income 553,055.91$ 46,087.99$ 100.00%
Cost of Goods Sold:
Special Events 2,112.89$ 176.07$ 0.38%
Artists Fee 24,830.60$ 2,069.22$ 4.49%
Concession Supplies 3,743.09$ 311.92$ 0.68% Supplies 12,377.83$ 1,031.49$ 2.24%
Provider Payments (Tot Box Rec) 221,619.50$ 18,468.29$ 40.07% Advertising & Marketing 17,550.34$ 1,462.53$ 3.17% Contract Labor 2,683.00$ 223.58$ 0.49%
Total Cost of Goods Sold 284,917.25$ 23,743.10$ 51.52% To Sch 1 Gross Profit 268,138.66$ 22,344.89$ 48.48%
Operating Expenses:
City Reimbursement 59,905.00$ 4,992.08$ 10.83%
Capital Replacement 9,798.28$ 816.52$ 1.77% City Reimbursed Staffing 92,452.00$ 7,704.33$ 16.72% Credit Card Service Fees 24,987.80$ 2,082.32$ 4.52% Dues/Licenses/Permits 20,647.79$ 1,720.65$ 3.73% Pr
ofessional / Special Services - $ - $ 0.00% Office Expense 1,720.33$ 143.36$ 0.31%
Total Operating Expenses 209,511.20$ 17,459.27$ 37.88% Net Income 58,627.46$ 4,885.62$ 10.60%
To Sch 3
Claimed Affected Period:
March 2020 - March 2021
December January February March % of Total
2020 2021 2021 2021 Amount Per Month Income
(96.00) $ 228.22 $ - $ 21.78 $ 1,594.04$ 122.62$ 2.98% 7,537.52 $ 489.06 $ 1,041.00 $ 500.00 $ 31,220.00$ 2,401.54$ 58.46%
20.00 $ 196.20 $ - $ 175.00 $ 16,961.28$ 1,304.71$ 31.76% - $ - $ - $ - $ 372.00$ 28.62$ 0.70% - $ - $ - $ - $ 18.60$ 1.43$ 0.03% - $ 1.30 $ - $ - $ 1.30$ 0.10$ 0.00% - $ - $ - $ - $ 3,225.00$ 248.08$ 6.04%
0.79 $ 0.76 $ 0.75 $ 0.88 $ 13.45$ 1.03$ 0.03% 7,462.31 $ 915.54 $ 1,041.75 $ 697.66 $ 53,405.67$ 4,108.13$ 100.00% 177.54 $ - $ - $ - $ 566.55$ 43.58$ 1.06% - $ - $ - $ - $ - $ - $ 0.00% - $ -$ -
$ - $ 1,017.97$ 78.31$ 1.91% - $ 140.00 $ - $ - $ 314.94$ 24.23$ 0.59% - $ - $ - $ - $ 5,501.60$ 423.20$ 10.30%
24.20 $ 327.80 $ 150.07 $ 181.03 $ 1,548.80$ 119.14$ 2.90% 3,200.00 $ - $ - $ - $ 3,429.50$ 263.81$ 6.42% 3,401.74 $ 467.80 $ 150.07 $ 181.03 $ 12,379.36$ 952.26$ 23.18% 4,060.57 $ 447.74 $ 891.68 $ 516.63
$ 41,026.31$ 3,155.87$ 76.82%
- $ - $ - $ - $ - $ - $ 0.00% - $ - $ - $ - $ 600.60$ 46.20$ 1.12% - $ - $ - $ - $ 98,333.61$ 7,564.12$ 184.13% 189.11 $ 127.54 $ 109.10 $ 115.42 $ 2,739.07$ 210.70$ 5.13% 1,419.08 $ 177.73 $ 186.71 $ 475.79 $ 4,464.54$ 343.43$ 8.36% - $ - $ -$ - $ - $ - $ 0.00%
68.60 $ 159.12 $ 18.95 $ - $ 617.49$ 47.50$ 1.16% 1,676.79 $ 464.39 $ 314.76 $ 591.21 $ 106,755.31$ 8,211.95$ 199.90% 2,383.78 $ (16.65) $ 576.92 $ (74.58) $ (65,729.00)$ (5,056.08)$ -123.07% To Sch 3
DEC 2-14 - 83099C-PEP - City of Simi Valley - MM Analysis Print Date 5/3/2022
20a/12-22
12