HomeMy WebLinkAbout8881RESOLUTION NO. RRR1
A RESOLUTION CONSENTING TO THE ADOPTION OF THE
URBAN RENEWAL AUTHORITY OF PUEBLO, COLORADO
RESOLUTION ADOPTING THE FISCAL YEAR 2000 BUDGET
INCLUDING AN OPERATION AND MAINTENANCE BUDGET
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF PUEBLO,
COLORADO, that:
SECTION I.
The City Council of the City of Pueblo consents to the adoption of the Urban Renewal
Authority's Resolution 99 -10 dated December 14, 1999, adopting the Fiscal year 2000 Budget
including an Operation and Maintenance Budget for the Pueblo Convention Center.
SECTION 2.
The President of the City Council is hereby authorized to approve the adoption of the
resolution.
INTRODUCED: December 27, 1999
By Cathy A. Garcia
President of City Council
ATTEST:
Y
Title:
A RESOLUTION CONSENTING TO THE
ADOPTION OF THE URBAN RENEWAL
AUTHORITY OF PUEBLO, COLORADO
RESOLUTION ADOPTING THE FISCAL YEAR
2000 BUDGET INCLUDING AN OPERATION
AND MAINTENANCE BUDGET
Agenda Item #
Department: Housing & Community Development Date: December 27, 1999
COUNCIL BACKGROUND PAPER
I. SUMMARY
A. Issue:
A Resolution consenting to the adoption of the Urban Renewal Authority's Resolution
adopting the Fiscal Year 2000 Budget, which includes the Operation and
Maintenance Budget submitted by Globe Facility Services.
B. Recommendation:
Consent to the adoption of the Resolution by the Urban Renewal Authority.
II. BACKGROUND
At the December 14, 1999 meeting, the Urban Renewal Authority adopted resolution 99 -10
adopting a fiscal year 2000 Budget including an Operation and Maintenance budget.
III. FINANCIAL IMPACT
The Budget will establish line items based on the current estimates of revenue, expenditures,
and available funds for the Pueblo Convention Center project and grant for the Hotel
including other 2000 expenses.
IV. ALTERNATIVES
A. The City could elect not to consent to the resolutions.
B. The City could not approve.
Pueblo Urban Renewal Authority Budget Including the
Operation and Maintenance Budget for the Year Ending
December 31, 2000
Revenue
Carryover of City Advancement (Resolution 8413) $99,938 =-
Tax Increment Fund Taxes(Centel & Center 102,000
Sales Tax from URA Area 110,000
Sales Tax Vendor Fee 1,220,000
Convention Center Revenue 1.068.409
Total $2,600,347
Expenditures
Globe Facility Services Operations and Maintenance Budget $1,540,498
Operating Lease Pueblo Development Foundation $129,200
Capital Projects Resolution 8513 99,938
Bond Interest and Principal 760,000
Misc. Expenditures Capital Outlay 10,711
City of Pueblo.Advances 60,000
Total $2,600,347
PUEBLO CONVENTION CENTER
Proposed Operations /Maintenance Budget
Year 2000
12/14/99
Income
Convention Center Revenue
Vendor Fee Available
Sales Tax Increment
Propery Taxes
Sales tax generated from facilities
Total Income
Expenses
Convention Center Operating Expenses
Principal /Interest Payment to PDF (Year 3 of 7)
City of Pueblo Advance; Res #8513
Total Expenses
$1,068,409
$460,000
$ 110,000
S102,000
$1,740,409
$1,540,498
$129,200
$60,000
$1,729,698
2000 PROJECTED PROFIT $10,711
Pueblo Convention Center /GFS
Proposed Operations /Maintenance Budget 2000
12/13/99
Events
Attendance
2000 BUDGET
545
69,446
REVENUE
4,500
Event Revenue
5,370
Copier Lease
Event Income - Rentals
152,970
30,500
Event Income - F &B
699,048
Dues /Subscriptions
Event Income - Public Foods
116,508
3,600
Event Income - Equipment
57,009
Event Equipment /Utilities
Event Income - Utilities
2,560
27,000
Event Income - Labor
12,977
Event -Other In -House Promo /Expense
Event Income - Other
5,737
425
Off Season /Other Revenue
21,600
GFS Wages & PR Expense
Total Event Revenue
1,068,409
Other Revenue
Liability/Property Insurance
16,000
Vendor's Fee
460,000
Linen & Laundry
Sales Tax Increment
212,000
43,500
Total Other Revene
672,000
Moving/Relocation
TOTAL REVENUE
1,740,409
EXPENSES
Postage/Meter Rental
F &B Expenses
Printing & Promotion
15,700
F &B Product Cost (30 %)
244,667
F & B Labor Cost (47 %)
383,311
Travel & Entertainment
F &B Management Fee +% Profit
30,000
1,250
F &B Operational Cost (8 %)
56,765
Sub -Total Operational Expenses
Sub -Total F &B Costl
714,743
Operation Expenses
Advertising
24,115
Audit /Investment Fees
3,400
Bank /Credit CardiCollecticn Fees
4,500
Computer /Internet
5,370
Copier Lease
2,520
Capital Outlay
30,500
Direct Sales
6,000
Dues /Subscriptions
4,048
Equipment-New
3,600
Equipment Rental
2,500
Event Equipment /Utilities
6,400
Event Laboi (lumps /Security)
27,000
Event Other
7,200
Event -Other In -House Promo /Expense
20,000
FedEx /UPS
425
GFS Management Fees
62,400
GFS Wages & PR Expense
382,967
Legal Fees
1,000
Liability/Property Insurance
16,000
Licenses /Fees /Permits
200
Linen & Laundry
17,000
Maintenance & Repairs
43,500
Miscellaneous
1,500
Moving/Relocation
2,000
Officr: S
2.700
Postage/Meter Rental
4,560
Printing & Promotion
15,700
Seminars /Training /Conferences
4,800
Telephone /Cellular
24,000
Travel & Entertainment
10,900
Uniforms
1,250
Utilities
87,700
Sub -Total Operational Expenses
825,755
Operating Expenses
1,540,498
Operating Expense Subtotal
199,910
OTHER EXPENSES
PDF Interest /Lease
129,200
Res. # 8513 Repayment
60,000
Total Other Expenses
189,200
Projected Profitj
10,710
320 Central Main St.
Pueblo. CO 81003
719.542.1100 TEL
719.583.9351 FAX
M E M O R A N D U M
To: Tony Berumen, Secretary, Urban Renewal Authority
From: Dean Dennis, General Manager
Re: 2000 Budget
Cc: URA Members
On behalf of Globe Facility Services (GFS), I am pleased to forward the Pueblo Convention Center's 2000
Operations and Maintenance Budget to the Urban Renewal Authority for review and acceptance. GFS has
provided for an aggressive year of growth while assisting in making this facility the finest in Colorado.
I am delighted to report that we reached several new milestones in our second full year of operation. This
success is attributable to the efforts of our staff and the people of Pueblo who continue to leverage their
opportunities to bring business to this facility. The partnership between government and private enterprise
has presented a wonderful opportunity to import new dollars and new opportunities to the Pueblo
community.
We set a new benchmark for revenue with more than $1,000,000 in projected total revenues. In addition,
expenses were kept below budget in many areas. Although the operating subsidy did increase, much of
those expenses were due to improvements in quality and service in our food and beverage department. As
we grow and add more business, those costs will begin to fall.
The Center has brought a variety of events to the marketplace including trade shows, conventions and
various entertainers. 1999 saw the number of conferences and conventions increase 3 times over 1998.
This, of course, is the reason the building exists and continues to be the focus of business we bring to
Pueblo and the Convention Center. For 2,000 and beyond, we anticipate the number to grow even more.
The number of events was up substantially for 1999 and 2,000's projected to be a very superb year for us
as well.
The 1998 opening of the Marriott Hotel has helped to bring exciting new business opportunities to both
and our work with other Pueblo hotels and business will strengthen our overall sales efforts.
I thank the Urban Renewal Authority, The City and County of Pueblo and most of all the citizens of
Pueblo for the opportunity given to us. Our experienced and dedicated GFS staff will continue to provide
systematic and professional service in meeting the expectations of this facility. I look forward to discussing
the budget in further detail should you have any additional questions.
GFS
A Globe Facility Services Managed Facility