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09-1362Council File # ��-- Green Sheet # 3090678 RESOLUTION CIN OF SAINT PAUL, MINNESOTA Presented By: �� — Referred To: � � Committee: Date a WHEREAS, pursuant to authority granted in Laws of Minnesota 200.5, Chapter �52, ArtiGe �, Sections 1 and 38, (the "Special Law"), a the City of Saint Paul, Minnesota, a municipal corporation (the "City") entered into an Agreement, made effective on Odober �, s 2005 (the "Agreement") with the Saint Paul R{verCentre Convention & Visitors Authonty, a Minnesota non-profit corporation s(the "RCVA"), whereby the City contracted with the RCVA to equip, maintain, manage, and operate ali or a portion of those certain � properties and facilities commonly known as the RiverCentre complex and to manage and operate a conveniion bureau to e market and promote the City as a tourist or convention center; and 9 io WHEREAS, Section 6.7 of the Agreement 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 ia WHEREAS, Section 6.7 of the Agreement further requires that "[t}he City Council may modify the Approved Opereting Budget i4 and Approved Capital Budget onty with respect to those amounts contained therein thai are proposed to be financed by generai is revenues of the City or bond proceeds; and 16 n WHEREAS, on November 19, 2009, the RCVA Soard of Dlrectors adopted the 2010 RCVA budgei, RCVA resoluilon #09-015, and �e transmitted said budgets of $9,657,320 for operating and $7,840,000 for capital (non-operating) to the City pursuant to Section 6.7 iy of the Agreement (see Attachment A); and zo Zi WHEREAS, the City of Saint Paui budgets $6,013,587 of the RCVA's capital (non-operating) budget (see Attachment B); zz za NOW, THEREFORE, BE IT RESOLVED, that p�rsuant to Sectlon 6] of the Agreement, the RCVA budget for the fiscal year beginning za January 9, 2010 as adopted by the RCVA Board of Directors on November 19, 2009, is hereby approved as modified by the City 2s Council during their 2009 budget deliberations as described in Attachments A and B; and 26 z� BE IT FURTHER RESOLVED, that the Director of the Financial Services O�ce be and is hereby authorized to prepare the final 2010 za budgets in accordance with the actions taken herein and to equalize, balance or set the final department revenue sources and zs department appropriations as necessary. 30 3I 32 33 34 35 36 3l 38 39 Adoption Certified b Council Se tary: gY� i�f///��Li/ �/7 Approved by Mayor Dat / 2� Z'� /� /r �� BY � -°�� Requested by Department of� Financial Services Office Adopted by Council� Date � Olficeo�Frnarcal66rvicaz p1ST¢redlBUtlgH��V(t0f0\COUnnI\R�v¢iCenIre2010 Bu4gelResoluLon 4s � Green Sheet Green Sheet Green Sheet Green Sheet Green Sheet Green Sheet � nq.� I 2 / n - Z DepartmenUOffice/COUncil: Date Initiated: �` � l� U FS -F�nancialServices 07DEC2009 Green Sheet NO: 3090678 I Contact Person 8 Phone: I Departrnent Sent To Person InitiaUDate Chris Eitemiller o inancislServices � 6-8547 1 iN Attome AsSign 2 a or$ Office � Mayor/ASSistant Must Be on Council Agenda by (Date): Number For 3 Council Ci Coancil Routlng 4 " Clerk Ci C7erk Doa Type: RESOLUTION W/$ Order TRANSACTION E-Docume� Required: Y Document ContaM: Conpct Phone: Total # of Signature Pages _(Clip All Locatio� Eor Signature) � Action Requested: Approve the Saint Paul RiverCenue Convenrion and Visitors Authoriry 2010 Budget. Recommendations: Approve (A) or Reject (R): Personal Service Confracts Must Answer the Following Questions: Planning Commission 1. Has this person/firm ever worked under a contract for this department? CIB Committee Yes No Civil Service Commission 2. Has this person/firm ever been a city employee? Yes No 3. Does this person/firm possess a skill not normally possessed by any - current city employee? Yes No 6cplain all yes answers on separete sheet and attach to green sheet. Initiating Problem, Issues, Opportunity (Who, What, When, Where, Why): The City has a responsibility to approve the RiverCentre's 2010 spending and financing plan. AdvanWges If Approved: The Saint Paul RiverCentre Convention and Visitors Authority will have an approved spending and financing plan for 2010. DisadvantageslfApproved: Disadvantages If Not Approved: The City will not have complied with Minnesota Law. Total Amount of Transaction: CosURevenue Budgeted: Funding Source: Activity Number: Financial Information: (Explain) December 7. 2009 9:18 AM aa�> � GS 3090678 Attachment A SAINT PAUL RIVERCENTRE CONVENTION & VISITdRS AiJTHORITY �� AUTHORITY RESdLUTION RCVA NO. 09-015 RESOLIJTIOIV ADOPTING 201U CALElVDAR YEAR BUDGET WHEREAS, the Agreement made by and between the RiverCentre Convention & Visitors Authority, a Minnesota non-profit corporation {hereinafter referred to as the "Autharity") and the City of Saint Paul requixes, among other things, that the Authority approve an operating budget no later than October 31 st; and WHEREAS, Section 6.2 and 6.5 of the Agreement requires the Authority to approve an operating and capital budget and submit it to the City of Saint Paul no later than October 31 st; and WI�EREAS, the Authority's Finance Committee, based on the 2009 actuai results to date and the foracasted results of operations for the remainder af the 2004 calendar year by the Saint Paul Arena Company, LLC, a Minnesota limited liability company ("SPAC"), which the Authoriry has retained to perform such management services as are needed to manage, operate, maintain and pmmote the RiverCentre Complex, hereby rec�mmands the fotlowing for the Authority's ZO10 annual fmancial budget: Zoza OPERATING BI7DGET Revenues Building Rent Service Income Pazking Ramp Food & Beverage Sponsorship Authority (HM tax, membership, advertising, etc) Other Income Use of Retained Eamings Total Revenue Expenses Facility Operations Event Operations Parking Ramp Costs Overhead Utilities Administration/SPAC Mazketing Authority (mazketing and promotion of hotels and convention center) Management Fee Total Expenses 1,864,937 2,032,726 2,231,781 592,024 218,969 1,848,768 236,04b 632 069 9,657,320 1,502,445 1,389,102 804,326 817,U95 2,081,324 868,833 1,848,768 295377 9,657,320 GS 3090678 Attachment A RCVA NO. Q9-015 Page 2 01' 2 �I �� Revenues Sates Tas Released Sales Tax from TIF Total Revenue Expenses DebUObligations Capital Maintenance and Repair Reserve Fund Total Expenses 2010 �iON-OPERATING BUDGET 5,944,000 1900 400 7,840,000 6,464,040 i,aso,oao 115960 7,840,000 WHEREAS, the Authority delegated to the Authority's Pinance Committee the responsibility ta prepare the Authority's 2010 annual financial budget for subrnission to the Ciry, NdW, THEREFORE, BE IT RESOLVED, that the Authority hereby approves the 2010 financial budget as recommended and detailed above. AUTHORITY Axte11 Bauchle Christie � X X FORM APPROVED BY CITY ATTORNEY BY: � Franson Miller MitchelI X APPROVED BY RCVA DATE: November 19. 2409 � 1 Chair, RCVA Woolf 2010 Budget Balancing Status RiverCentre Resolution Attachment i 2 Mayor's Proposed Budget... 3 ButlgetTOtaf 4 5 Gap:Excess/(Shorttalq 6 7 Technical Changes to the Recammended Budget... 8 s Revisetl Revenue or Budget Estimates: 10 RrverCeritre ACjustNo[ellmoteitaerevenuetoreileMCUnenies6mates 11 iz Better Align Department Budgets: 13 RrverCenbe Allocate capital ma�ntercance among ne"+acLVtlies 16 i5 Technical Correc[ions Due to Errors, Omissions and Other Changes: 14 R(ve�CenUe Atltltrnnsfe�toPa�ks[orWiNerskat�oflsetw/otherspeMingeedud�ons 11 12 Butlge�AflerTechnicalCnanges 13 14 Gap� Excess / (Shortlall) 15 i6 Council Changes to the Recommended Budget... n ia 19 prverCentre No Councilcharges 20 21 22 23 eudget Aiter Counal Changes 24 25 Gap Excess/(Shorifall) 1 of 1 CF: 09-1362 Spending Flnancing 6,013,5ffi 6,013,58J 0 (1,520) (1,520) ButlgetNeWai BWgetNeN21 8ue!g¢t Neutrnl Budgei Neutrnl 6,012,06� 6,012,06� 0 6,012,067 6,012,067 0 12/16/2009 8:32 AM Office ofFinancial Services U�l`(�� r1 U Saint Paul RiverCentre Convention and Visitors Authoritv Attachment B was being finalized at the time the Council agenda was published. The attachment will be added prior to the meeting. i •