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08-1374Council File # 08-1374 Green Sheet# 3065040 Presented By: Referred To: Committee: Date i i • a WHEREAS, pursuant to authority granted in Laws of Minnesota 2005, Chapter 152, Article 1, Sections t and 38, (the "Special Law"), a the City of Saint Paul, Minnesota, a municipal corporation (the "City") entered into an Agreement, made effective on October t, s 2005 (the "AgreemenY') with the Saint Paul RiverCentre Convention & Visitors Authority, a Minnesota non-profit corporation e (the "RCVA"), whereby the City contracted with the RCVA to equip, maintain, manage, and operate all or a portion of those certain � properties and facilities commonly known as the RiverCentre complex and to manage and operate a convention bureau to e market and promote the City as a tourist or convention center, and io WHEREAS, Section 6.7 of the Agreeement requires that the RCVA's "Approved Operating Budget and Approved Capital Budget ii shall be transmitted to the City Council as part of the Citys annual budget approval process'; and iz is WHEREAS, Section 6.7 of the Agreement further requires that "[t}he City Council may modify the Approved Operating B�dget ia and Approved Capital Budget only with respect to those amounts contained therein that are proposed to be financed by general is revenues of the City or bond proceeds; and is n W HEREAS, on December 4, 2008, the RCVA Board of Directors adopted the 2009 RCVA budget, RCVA resolution #OS•021, and �a transmitted said budget for $10,397,201 to the City pursuant to Section 6.7 of the Agreement; 19 zo NOW, THEREFORE, BE IT RESOLVED, that pursuant to Section 6.7 of the Agreement, the RCVA budget for the fiscal year beginning zi January 1, 2009 as adopted by the RCVA Board of Directors on December 4, 2008, is hereby approved as modified by the City zz Council during their 2008 budget deliberations as described in Attachment A; and 23 za BE IT FURTHER RESOLVED, that the Director of the Financial Services Office be and is hereby authorized to prepare the final 2009 zs budgets in accordance with the actions taken herein and to equalize, balance or set the final department revenue sources and zs department appropriations as necessary. z� zs zs 30 31 32 � 34 35 36 37 38 Requested by Department of: Adopted by Council: Date ��/9�jp y Atloption Certified by Council Secretary: BY� �sl`"A'SO.:+ Approved by Mayor. Date� � L--�/a/U � BY� � _ 6.ncY -�'�L-.�� RESOLUTION SAINT PAUL, MINNESOTA Financial Services OHice By: Margaret Kelly Approval Re en d KFiqaqci� Servic s rector: X !/ g � (/ Form Approved by CiTy A ome : By / r Approv yMa o for issio to un ': 8y: OlficsdFwnalServims Gt$fwetl�BWgetUY2N2\C TRrve�CeMre'GW30WgetRe�lu�m#s 2009 Budget Balancing Status RiverCentre Resolution Attachment Mayor's Propased Budget.. 0udget Total Gap. Ercess / (Shortfall) Technical Changes to the Recommended Budget... RrverCentre Net effect of atltling interest M Moose Loan repayment Budget After Techmcai Changes Gap: Excess /(ShortFall) Council Changes to the Recommended Budget... Budget Aker Council Changes Gap Excess / (Shortfall) CF: 08-1374 Spending Financing 5,938,587 5,938,589 0 75,00� 75,000 6,0'13,587 6,013,587 � 6,013,587 Q013,587 0 Offce of Financial Services 12/19/2008 2.02 PM t0 of 11 M\YR2009\Counal\Counal Phase Tracker 127708 xls � Green Sheet Green Sheet Green Sheet Green Sheet Green Sheet Green Sheet � Department/Office/Council: Date Initiated: 08-1374 FS —FinancialServices 09-DEC-08 Green Sheet NO: 3065040 Contad Person & Phone• Denartment Sent To Person InitiaUDate Masqaret Kelly � o inanoat services �—� 266-8796 1 " ancialServices De artmentD'ueetor Assign 2 'tvAttorne � Must Be on Council Agenda by (Date): Number 17-DEGO$ For 3 or'sOffice Ma or/Assistant Routing " 4 oanN Councl Doa Type• P�B�IC HEARING OYder 5 i Clerk C5 C7erk � (RESOLUTION) E-Document Required: N . Document Contact: Chris Ettemiller ContactPhone: 266-8547 � Total # of Signature Pages _(Clip All Lowtions for Signature) Action Requested: Accept the Saint Paul RiverCemre Visitors' Authority 2009 budget. Recommendations: Approve (A) or Reject (R): Personal Service Contracts Must Answer the Following Questions: Planning Commission 1. Has this persoNfirtn ever worked under a contract for this department? � CIB Committee Yes No � Civil Service Commission 2. Has this person/firtn ever been a city employee? Yes No 3. Does this person/firtn possess a skill not normaliy possessed by any current city employee? Yes No Explain all yes answers on separate sheet and attach to green sheet. initiating Problem, Issues, Opportunity (Who, What, When, Where, Why): The City has the responsibility to appxove the RiverCentre Authority budget for the yeaz 2009, and modify it as necessary with regard to those amounts that aze proposed to be financed by general reviews of the City or bond proceeds. The City needs to ha�e a spending and financing plan that reflects financing and payments the City must make on behalf of the RCVA. AdvantageslfApproved: The RCVA and City will have approved plan for spending and financing for 2009. DisadvantageslfApproved: None Disadvantages If Not Approved: The City will not ha�e complied with Laws of Minnesota 2005, Chapter 152, and the Agreement with the RCVA Board. Total Amount of Transaction: CostlRevenue Budgeted: N Funding Source: Activity Number: 900 Financial Information: (Explain) December 9. 2�08 11:58 AM _.. _ p � Mayors Proposed Budget.. Budget Total Gap: Excess /(Shortfalp TechnicalChangesto RrverCentre Budget After Technical Cha Gap:Excess/(ShortFa@ Council Changes to tt Budget After Council Chan( Gap E<cess/(Shortfall) 2009 Budget Batancing Status RiverCentre Resolution Attachment CF: 08-1374 Spending Financing 5,938,587 5,938,587 0 ' 75,000 75,000 6,013,587 6,013,587 0 5,938,587 5,938,587 0 Office of Finanaal Services 12/7 7/2008 3 57PM 10of11 N.\VR2009\COUncil\CouncilPhaseTracker121708x1s