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CC - Acceptance of $13,425.00 in Sponsorship Revenue from the Culver City Cultural Affairs Foundation to Support the 2017 Boulevard Music Summer Festival.
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Meeting Date: March 12, 2018
Contact Person/Dept: B. Christine Byers/Administrative Services - Cultural Affairs
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 - City Council (03/06/18)
Department Approval: Serena Wright-Black, Administrative Services Director (03/01/18)
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RECOMMENDATION
Staff recommends the City Council accept $13,425.00 in sponsorship revenue from the Culver City Cultural Affairs Foundation to support the 2017 Boulevard Music Summer Festival (Festival).
BACKGROUND/DISCUSSION
The CAF was established as a non-profit organization in 2006 with the mission of promoting and supporting the visual arts, performing arts, and the historic preservation programs of the City of Culver City by coordinating and actively pursuing outside funding sources for those programs.
Article II, Section 4 of the CAF’s Bylaws (Bylaws) provide the following:
“Whenever the Foundation receives any money, in cash, check or otherwise, it shall, as soon as possible, disburse that money to the City for use by the City, as determined appropriate by the majority of the members of the City Council of Culver City (the “City Council”), for the City’s cultural affairs programs, including the administration of such programs and the operation of the Foundation. Whenever the Foundation receives any other asset, it shall, as soon as possible, convey ownership and possession of that asset to the City for use and disposition by the City, as determined appropriate by a majority of the members of the City Council for the City’s cultural affairs programs, including the administration of such programs and the operation of the Foundation.”
At a Special Meeting on January 25, 2018, the CAF Board approved the transmittal of $13,425.00 in sponsorship revenue for the 2017 Boulevard Music Summer Festival. This sponsorship money was raised by Festival producer Mr. Gary Mandell and as was the case in prior years, checks were made payable to the Culver City Cultural Affairs Foundation so that sponsors could take advantage of any applicable tax benefits from their contribution.
FISCAL ANALYSIS
Funds would be transferred to account 10110100.386100 (Miscellaneous Revenue). No budget amendment is required in conjunction with this agenda item.
ATTACHMENTS
None.
RECOMMENDED MOTION(S)
That the City Council:
Accept $13,425.00 in sponsorship revenue from the Culver City Cultural Affairs Foundation to support the 2017 Boulevard Music Summer Festival.