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CAF - (1) Approval of Financial Reports of the Cultural Affairs Foundation for FY 2016-2017 to September 30, 2016; (2) Approval of the Schedule of Disbursements for FY 2016-2017 to September 30, 2016, 2016; and, (3) Review, Approve, and Recommend to the City Council Adoption of the Foundation Budget for FY 2016-2017 (Continued from September 21, 2016).
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Meeting Date: December 14, 2016
Contact Person/Dept: B. Christine Byers/Cultural Affairs Division
Phone Number: (310) 253-6003
Fiscal Impact: Yes [X] No [] General Fund: Yes [X] No []
Public Hearing: [] Action Item: [X] Attachments: []
Public Notification: (E-Mail) Meetings and Agendas - Cultural Affairs Commission (12/08/16)
Department Approval: N/A
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RECOMMENDATION
Staff recommends that the Cultural Affairs Foundation Board ("Board"): (1) receive and file the financial information presented for Fiscal Year 2016-2017 through to September 30, 2016; (2) approve the schedule of disbursements for Fiscal Year 2016-2017 through September 30, 2016; and, (3) review, approve, and recommend to the City Council adoption of the Foundation Budget for FY 2016-2017.
BACKGROUND/DISCUSSION
Financial Reports and Schedule of Disbursements: Staff presents financial statements for review and approval by the Board at each of the Regular meetings of the Board. The financial statements for FY 2016-2017 through September 30, 2016, including a schedule of disbursements, will be presented at the meeting.
Foundation Budget for FY 2016-2017: The Bylaws of the Foundation state that the "Chairperson and Treasurer, with assistance from the City Manager (or his or her designee) of the City shall prepare a budget, which shall then be presented for recommendation by the Board to the City Council no later than the following June, as required by Article III, Section 8. Subsections B and C."
The Chief Executiv...
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