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Council Agenda - City of BurbankTuesday, December 5, 2006Agenda Item - 7 |
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PURPOSE
The purpose of this report is to request that City Council appropriate Starlight Bowl Sponsorship revenue for expenditures associated with entertainment, marketing, and operating materials and supplies, and to amend the Fiscal Year 2006-07 Budget.
BACKGROUND
The Starlight Bowl Corporate Sponsorship Program and the Street Banner Program present businesses with the opportunity to provide financial support for the Starlight Bowl Summer Concert Season. These programs give the City of Burbank an additional funding mechanism for expenditures associated with Starlight Bowl entertainment, as well as purchase of marketing materials, operating materials and supplies. This year the Starlight Bowl Sponsorship program generated $32,500, and the Street Banner program generated $10,237 for a total of $42,737 during the 2006 Summer Season.
ANALYSIS
In Fiscal Year 2006-2007, $42,737 was received in sponsorship and street banner revenue. It is requested that this amount be allocated to cover a portion of the entertainment and marketing expenditures for the 2006 summer concert season, as well as future operating expenses associated with the 2007 summer concert season.
FISCAL IMPACT
The current amount received in the Starlight Bowl Sponsorship revenue account 001.PR000.45000.1017 is $42,737. Staff is requesting that this amount be appropriated into the Starlight Bowl expenditure account 001.PR31D.62300 for expenditures associated with entertainment, marketing and operating materials and supplies.
RECOMMENDATION
Staff recommends that City Council adopt the proposed resolution amending the FY 2006-2007 Budget by appropriating $42,737 of Starlight Bowl Sponsorship revenue.
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