C7N-Amend Reso 2014-28732 Change Amount Of CACs Annual Fund Balance CapCOMMISSION ITEM SUMMARY
Condensed Title:
A Resolution Amending Resolution No. 2014-287328y Changing The Amount Of The CulturalArts Council's
Annual Fund Balance Cap From $2,640,184 To $2,467,000 To Correct A Scrivener's Error.
Maximize the Miami Beach Brand as a World Class Destination.
Supporting Data (Surveys, Environmental Scan, etc.): Two out of three residents (65%) believed the City
offered the right amount of cultural activities, while 30% said there were too few. The percentage of residents
who believe there are too few cultural activities has increased from 24% in 2009 to 30o/o in 2014.
Item Su
The Mayor and Commission unanimously approved Resolution No. 2014-28732 on September 10,2014,
accepting the recommendation of the Finance and Citywide Projects Committee to adopt the updated
Cultural Affairs Strategic Plan, including an increase in the number of Community Benefit Fund rental
waivers and capping the annual Cultural Arts Council fund balance at $2,640,184, but providing for an annual
increase for inflation. Due to a scrivener's error the actual amount of the fund balance should have been
$2,467,000.
It is recommended that the Citv Commission amend the Resolution as indicated.
The Cultural Arts Council approved the strategic plan at its meeting on March 6,2014.
Financial lnformation :
Source of I
Funds: I
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oBPl I Tol
Financial lmpact Summary:
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g MIAMIBEACH
City of lliomi Beoch, lZ00 Convention Center Drive, Miomi Beoch, Florido 33,139, www.miomibeochfl.gov
COMMISSION MEMORANDUM
TO: Mayor Philip Levine and Members
FRoM: Jimmy L. Morales, City Manager
DATE: June 10,2015
MIAM! BEACH, FLORIDA, AMENDING RESOLUTION NO. 22014.28732 BY
CHANGING THE AMOUNT OF THE CULTURAL ARTS COUNCIL ANNUAL
FUND BALANCE GAp FROM $2,640,184 TO $2,467,000 TO CORRECT A
SCRIVENER'S ERROR.
ADMINISTRATION RECOMMEN DATION
Adopt the Resolution.
FUND!NG
The CulturalAffairs Program is funded by interest earned from the Miami Beach Convention
Center Capital Fund, the GMCVB (per contract), Resort Taxes and Quality of Life funds.
ANALYSIS
On September 10, 2014, the Mayor and City Commission unanimously adopted Resolution
No.2014-28732, approving the updated CulturalAffairs Strategic Plan (the Plan).The Plan
included capping the CulturalArts Council's annualfund balance at its then-current levelof
$2,640,184, but allowing for an annual increase for inflation, and transferring any excess
funds each year to the Cultural Arts Council's grants budget for the following year. Due to a
scrivener's error, the correct amount of the fund balance should have been $2,467,000. A
copy of Resolution No. 2104-28732 and accompanying Summary and Memorandum is
attached as Exhibit "A".
GONCLUSION
The Administration recommends the Mayor and City Commission adopt the amendment to
Resolution No. 2014-28732, correcting the amount of the Cultural Arts Council's fund
balance cap from $2,640,184 to $2,467,000.
f the City c mrsston
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202
RESOLUTION NO.
A RESOLUTION OF THE MAYOR AND CITY COMMISSION OF
THE CITY OF MIAMI BEACH, FLORIDA, AMENDING
RESOLUTION NO. 2014.287328Y CHANGING THE AMOUNT
OF THE CULTURAL ARTS COUNCIL ANNUAL FUND
BALANCE CAP FROM $2,640,184 TO $2,467,000 TO CORRECT
A SCRIVENER'S ERROR.
WHEREAS, the Mayor and Commission unanimously approved Resolution
No. 2014-28732 on September 10, 2014, accepting the recommendation of the
Finance and Citywide Projects Committee to adopt the updated Cultural Affairs
Strategic Plan, including an increase in the number of Community Benefit Fund
rental waivers and capping the annual Cultural Arts Council fund balance at
$2,640,184, but providing for an annual increase for inflation; and
WHEREAS, due to a scrivener's errorthe actual amount of the fund balance
was $2,467,000.
NOW, THEREFORE, BE IT DULY RESOLVED BY THE MAYOR AND CITY
COMMISSION OF THE CITY OF MIAMI BEACH, FLORIDA, that the Mayor and
City Commission hereby adopt the amendment to Resolution No. 2014-28732,
correcting the amount of the annual fund balance cap to $2,467,000.
PASSED and ADOPTED THIS day of 2015.
ATTEST:
CITY CLERK MAYOR
APPRO/ED AS TO
FORM & IANGUAGE
& FOR$GCUTIOT{
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Mstl'l,
City Attomey Date I
203
RESOLUTION NO.2014-28732
A RESOLUTION OF THE MAYOR AND CITY COMMISSION OF THE CITY OF
MIAMI BEACH, FLORIDA, ACCEPTING THE RECOiiMENDATIONS OF THE
FINANCE AND CITYWIDE PROJECTS COiIMITTEE TO ADOPT THE UPDATED
CULTURAL AFFAIRS STRATEGIC PLAN, INCLUDING AN INCREASE IN THE
NUMBER OF COMMUNITY BENEFIT FUND RENT WAIVERS AND THE CAPPING
OF THE ANNUAL FUND BALANCE AT ITS CURRENT LEVEL OF 92,640,'84, BUT
PROVIDING FOR AN ANNUAL INCREASE FOR INFLATION, AND DIRECTING
THE CITY ADiIINISTRATION NOT TO UTILIZE THE CULTURAL ARTS COUNCIL
ENDOWMENT FUND TO FUND SLEEPLESS NIGHT.
WHEREAS, the Miami Beach Cultural Arts Council (CAC) was estiablished by the Mayor and City
Commission on March 5, 1997; and
WHEREAS, the mission of the CAC is to develop, coordinate, and promote the visual and performing
arts in the City of Miami Beach for the enjoyment, education, cultural enrichment, and benefit of the residentrs
ol and visitors to, the City of Miami Beach; and
WHEREAS, the Mayor and City Commission adopted the Cultural Affairs Strategic Plan on June 3,
1998, identifying the following program areas for the CAC: cultural arts grants; marketing; facilities; advocacy
and planning; and revenue development; and
WHEREAS, the CAC unanimously adopted an updated CulturalAffairs Strategic Plan at its March 6,
2014 meeting which is attached hereto and incorporated herein; and
WHEREAS, the Finance and Citywide Projects Committee reviewed the updated Cultural Affairs
Strategic Plan on May 20, July 18, and August 13,2014, and recommended an increase in the number of
Gommunity Benefit Fund rent waivers and the capping of the annual fund balance at its cunent level of
$2,640,184, with an annual increase for inflation based upon the Consumer Price lndex, but recommended
against utilizing the CAC Endowment Fund to fund Sleepless Night.
NOW, THEREFORE, BE IT DULY RESOLVED BY THE MAYOR AND CITY COMMISSION OF THE
CITY OF MIAMI BEACH, FLORIDA, that the Mayor and City Commission hereby adopt the updated Cultural
Affairs Strategic Plan, including an increase in the number of Community Benefit Fund rent waivers and the
capping of the annual fund balance at its current level of $2,640,184, but providing for an annual increase for
inflation, and directing the City Administration not to utilize the CAC Endowment Fund to fund Sleepless Night.
APPI?OVED AS TO
FORM & LANGUAGE
& FOR EXECUTION
1p(t+
-
Dote
FCI/VPC Recommendation RESO.doo<
204
COMMISSION ITEM SUMMARY
Condensed Title:
A resolution of the Mayor and City Commission of the Cig of Miami Beach, Florida, adopting the
updated Cultural Affairs Program strategic plan, including modifications to the Communig Benefit
Fund rent waiver program and the capping of the fund balance, but not including the releasi of CAC
Endowment funds.
The FCWP Committee recommended that the Administration cap the Cultural Affairs Program's fund
balance at its cunent level of $2,640,184 and include an annual increase for inflation. lf necessary
these funds could adequately cover the expenses of the Cultural Affairs Program for two years.
Funds remaining in the CAP budget at the end of each fiscal year would be added to the CAC's grant
budget for the following fiscal year. The Committee also approved changes to the Fillmore
Community Benefit Fund rent waiver program, including a requirement that rent waiver recipients be
required to offer free or discounted tickets to Miami Beach residents. The number of rent waivers
available annually would increase from 12 to 24, with the additional 12 waivers restricted to live
theater productions. Waivers for use of the smaller 'Backstage" theater would require recipienb to
cap ticket prices at $19, inclusive of all house and Ticketmaster surcharges. The Commiftee did not
approve the CAC's request to release the CAC Endowment Fund to support three annual Sleepless
Night events.
It is recommended that the City Commission adopt the strategic plan as indicated.
Maximize the MiamiBeach Brand as a World Class Destination.
Supporting Data (Surveys, Environmental Scan, etc.): Two out of three residents (650/o)
believed the City offered the right amount of cultural activities, while 30% said there were too few.
The percentage of residents who believe there are too few cultural activities has increased from
24o/oin 2009 to 3oo/oin2014.
Cultural Arts Council approved the on March 6.2014.
Financial lnformation:
OBP!
Max A. Sklar, Ext. 6116
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AGENDA rrza C 71y'E MIAMIBEACH o^tE q-p'/y205
E MIAMI BEACH
Glry of lllioml Beoch, 1700 Convention Center Drive, Miomi Beoch, Florido 33139, www.miomibeochfl.gov
COMMISSION MEMORANDUM
Mayor Philip Levine and Members of Gity
FROM: Jimmy L. Morales, City Manager
DATE: September 10,2014
SUBJECT: A RESOLUTION OF THE TAYOR CITY COUUISSION OF THE CITY
OF ilIAMI BEACH, FLORIDA,NG THE RECOMIiENDATIONS
OF THE FINANCE AND CITYWIDE PROJECTS COIIiilITTEE TO ADOPT
AN UPDATED STRATEGIC PLAN FOR THE CULTURAL AFFAIRS
PROGRAii, INCLUDING AN INCREASE IN THE NUMBER OF
COMMUNITY BENEFIT FUND RENT WAIVERS AND THE CAPPING OF
THE ANNUAL FUND BALANCE AT $2,640,184 WTH AN ANNUAL
INCREASE FOR INFLATION, BUT NOT INCLUDING UTTLIZING THE
CULTURAL ARTS COUNCIL ENDOWIT'IENT FUND TO FUND SLEEPLESS
NIGHT.
ADilII NISTRATION RECOilIMENDATION
Adopt the Resolution.
FUNDING
The Cultural Affairs Program is funded by interest eamed from the Miami Beach
Convention Center Capital Fund, the GMCVB (per contract), Resort Taxes and Quality
of Life funds.
ANALYSIS
The Cultural Affairs Program (CAP) in the Department of Tourism, Culture and
Economic Development serves as an invaluable resouroe for the Miami Beach
community and beyond. Working closely with the Miami Beach Cultural Arts Council
(CAC), the 1l-member advisory board founded in 1997, CAP sustains, develops and
supports the arts in Miami Beach for the enjoyment, education, enrichment and benefit
of residents and visitors.
Since 1997 the City has awarded more than $10 million to approximately 130 nonprofit
arts groups through its annual cultural grants program. Further, CAP partners with the
Miami Beach Visitor and Convention Authority to award grants to projects that generate
substantial cultural tourism.
CAP also provides active marketing assistance to individual cultural events and
institutions, and markets Miami Beach as a cultural destination; supplementary arts
education programs (since 2006) in Miami Beach schools and parks, serving more than
3,000 students annually; oversight of City-owned cultural facilities; and free outdoor arts
programming through Arts in the Parks (since 2006), Sleepless Night (2007, 2009 and
2011) and SoundScape Cinema Series (since 2011).
CAP staff met with the CAC Budget Committee on October 15, 2013 to formulate
strategies and goals for a new strategic plan. The Committee's proposals were
discussed by the CAC at its meetings on November 7 and December 12,2013, and
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FCWPC Recommendation - CAC Strategic Plan Update
City Commission Meeting
September 10,20'14
Page 2 of 6
This item was discussed at the May 20, 2014 Finance and Citywide Projects Committee
meeting and the staff was directed to provide more detail at the July meeting.
Discussion continued at the July 18, 2014 meeting, where it was recommended that the
CAC Endowment use be scaled back to one event and brought back to the FCWPC
Budget Briefing meeting on August 15,2014.
Two other recommendations from the CAC were approved by the FCWP Committee on
July 18h. The Committee recommended that the Administration cap the CulturalAffairs
Program's fund balance at its current level of $2,640,184 and include an annual increase
for inflation. lf necessary these funds could adequately cover the expenses of the
CulturalAffairs Program for two years. Funds remaining in the CAP budget at the end of
each fiscal year would be added to the CAC's grant budget for the following fiscal year.
The Committee also approved changes to the Fillmore Community Benefit Fund rent
waiver program, including a requirement that rent waiver recipients be required to offer
free or discounted tickets to Miami Beach residents. The number of rent waivers
available annually would increase from 12lo 24, with the additional 12 waivers restricted
to live theater productions. Waivers for use of the smaller 'Backstage" theater would
require recipients to cap ticket prices at $19, inclusive of all house and Ticketmaster
surcharges.
Discussion continued at the FCWPC Budget Briefing on August 13,2014, at which time
the Committee recommended against releasing the Cultural Arts Council Endowment
Fund to support three annual Sleepless Night events. Staff was directed to consult
further with the Cultural Arts Council to recommend other proposed uses for the
Endowment Fund.
coNcLustoN
The Mayor and City Commission should adopt the Cultural Affairs Program Strategic
Plan, including the increase in Community Benefit Fund rent waivers and the capping of
the annual fund balance, but not including the release of the CAC Endowment Fund.
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207
FCWPC Recommendation - CAC S[ategic Plan Update
City Gommission Meeting
September 10,2014
Page 3 of 6
Exhibit "A"
CulturalAffairs Program Strategic Plan draft
To ensure that the needs and aspirations of the community are met moving into the
futuie, CAP would concentrate on four areas:o Variety of cultural activilies, opportunities and facilitieso Growth of citizen participation, particularly among underserved and special
needs populationso Partnershipdevelopmento Value for all ages and ethnicities
Since funding is key, CAP staff will work to increase grant funding and to identify new
revenue streams, both from within the City (dedicated Quality of Life funding, Community
Benefit Fund, Art in Public Places Fund) and without. CAP's current annual budget is
$1,153,000, funded by the Greater Miami Convention and Visitors Bureau (per
contract), Resort Taxes and Quality of Life funds. CAP cunently has two restricted
funds: a CAC endowment fund of $1,581,873, and a CAP Fund Balance in the amount
of $2,O40,184. The endowment fund was created by the CAC in an optimistic attempt to
become self-sufficient, but no contributions to it have been made in several years. The
Fund Balance serves as a "rainy day" fund to ensure that CAP operations and grants
can continue in the event of a disastrous tourism year; it grows at the end of each fiscal
year from leftover balances in CAP budget line items (unclaimed grants, excess
marketing dollars, etc.) Revenue sources from outside the City could include corporate
sponsorships and grants from government and private granting agencies and
foundations.
PROPOSED STRATEGIES AND GOALS
Grantso lncrease funding for our existing cultural assets, particularly our CulturalAnchorso Based on the suc@ss of the Byron bonus, North Beach lnitiative, and Fresh Air
Fund programs, craft further proactive grant programs to fulfill specific cultural
needs (live theater for example), reach targeted age groups and ethnicities, and
provide free programming in various parts of the City
Marketing. Expand social media marketing effortso Continue to refine mbculture.com website and mobile websiteo Continue paid marketing efforts to direc.t people to websites and to promote
subscriptions to the weekly e-blast and the text messaging serviceso Reinstate Sleepless Night or a similar large-scale, major, annual, City-funded
cultural festival that attracts global attentiono Facilitate enhanced partnership with the hospitality industry
Education. Expand in-school and after-school arts instruction at City schools, parks and
youth centers through additional funding and/or corporate partnershipso Facilitate.hands-on arts instruction programs for resident adults
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FCWPC Recommendation - CAC Strategic Plan Update
City Commission Meeting
September 10,2014
Page 4 of 6
Cultural Facilitieso Continue to facilitate the relationship between the City and the Friends of the
Bass Museum
o Propose expanded use agreement for Carl Fisher Ctubhouse and Little Stage
Theater to allow for more diverse cultural offerings for the communityo Manage the Community Benefit Fund Rent Waiver Grants program for the
Fillmoreo Manage the SoundScape Wall Use Grants programo Facilitate a "youth only'exhibition and performance spaceo Encourage the city to set aside 20o/o of retail space in city garages for nonprofit
arts uses
Arts in the Parks. Expand offerings of live outdoor performances citywideo lncrease SoundScape Cinema Series screenings and digitalart projectionso Promote local, resident-driven events and festivals to coincide with the
residencies of major internationaltrade shows for music, visual arts, etc
Additional Serviceso Create a detailed, user-friendly manual to guide cultural providers through City
processes, especially the Special Events Permit processo Create an uptodate cultural asset inventory, including both permanent venues
and appropriate temporary performance/exhibition locationso Maintain a Cultural Tourism calendar in cooperation with the GMCVB and
MBVCA. Anange with outside providers to create affordable equipment rental packages to
transform indoor and outdoor spaces for performers
FUNDING
As previously mentioned a substantial amount of existing funding could be made
available to CAP to realize these goals and strategies and strengthen Miami Beach's
position as the preeminent cultural tourism destination in Florida.
ENDOWMENT
The original CAC created an endowment fund in 1998 with the thought that it would
eventually grow large enough to provide enough income to fund the annual cultural
grants program. From 1998 through 2001 the CAC contributed $200,000 annually. ln
2002 $160,000 was contributed. The following year, due to decreased revenues ftom
resort tax, no contribution was made. $50,000 was contributed in 2O0/, and $100,000 in
both 2005 and 2006. Since that time no further contributions have been made, despite a
significant increase in Resort Tax Quality of Life funding, since the CAC and the
Administration agreed that greater public benefit would result from utilizing all available
funds for grants and other cultural programming. The current balance of the endowment
fund is $1,581,873. CAC feels that it is highly unlikely that this fund could ever grow
large enough to provide a useful source of income, and proposes liquidating the
endowment over a three-year period to cover increased programmatic expenses for
Sleepless Night and other free outdoor programs. Unforeseen future expenses or
reduction in Quality of Life funding would be covered by the Fund Balance.
FUND BALANCE
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FCWPC Recommendation - CAC Strategic Plan Update
Ci$ Commission Meeting
September 10,2014
Page 5 of 6
The current CAP Fund Balance stands at $2,640,184. The CAC proposes capping the
Fund Balance at this amount, which if necessary could adequately cover the expenses
of the Cultural Affairs Program for two years. Funds remaining at the end of each fiscal
year should be added to the CAC's grants budget for the following year.
DEDICATED FUNDING
One-half of one percent of Resort Tax collection accounts for Quality of Life funding.
Originally divided into three parts (South Beach, Middle Beach and North Beach,) CAP
was added as a fourth recipient in 2004. Last year a fifth recipient (the North Beach
circulator) was added, with the stipulation that CAP funding would be frozen at cunent
levels until the other four recipients reach equal funding. The CAC respectfully requests
that the Mayor and Commission honor this ongoing commitment to arts funding and not
allow further dilution of the Quality of Life funds.
COMMUNITY BENEFIT FUND
The Community Benefit Fund at the Jackie Gleason Theater was established by
Resolution No. 83-174,47 to provide discounted show tickets to senior citizen and
student residents. lt is funded by a $1.50 surcharge on each ticket sold. The fund's
purpose was further defined by Resolution No. 92-2Mil to "present and promote
performances, programs, shows and entertainment at reduced prices or free admission
for the residents of Miami Beach." Resolution No. 98-22762 created the Community
Benefit Fund Rent Waiver program, wtrich pays the operator for theater rental fee
waivers for up to twelve non-proftt organizations per calendar year. Management of the
rent waiver program was transferred from the Convention Center Advisory Board to the
Miami Beach Cultural Arts Council (cAc) in 2009. The GAC is proposing a new
requirement that al! future rent waiver recipients be required to offer free or discounted
tickets to Miami Beach residents.
At this writing the balance in the Community Benefit Fund is $746,822. Funds are
currently used only for the discount ticket program and to pay the operator for the twelve
rent waivers available each calendar year. The fund nets between $38,000 and
$10E,000 annually after the rent waiver and discount ticket program costs are deducted.
The CAC is proposing to utilize the fund for greater community benefit by increasing the
number of annual rental fee waivers from 12 lo 24. This would allow the fund to
continue to grow while meeting its other obligations, since the maximum cost of the
additional waivers would be $36,000. The CAC feels strongly that the additional 12
waivers are necessary for the CAC to realize its initiative to increase live theater
offerings in Miami Beach. The Colony Theatre is both too large and too expensive for
most of South Florida's theater groups, and it has suffered a decrease in bookings as
new altemative and more affordable venues have opened on the mainland. The
Fillmore's new 'backstage' performance spa@, which seats 204 persons, is an ideal
size for local theater groups, and the CAC is proposing a new targeted pilot grant
program to begin in Fall 2014 which, in tandem with the rental fee waiver program,
would enable theater groups (and cabaret and spoken word artists) to rehearse and
present their shows at no cost for the theater, sound and lighting equipment and
technicians. Ticket prices, including all house and Ticketmaster surcharges, would be
capped at $19. Waivers would continue to be available for the main theater as well, but
the 12 additional waivers would be restricted for use with this new targeted live theater
grant program. All rental fee waiver recipients would be required to offer free or
discounted tickets to Miami Beach residents.
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FCWPC Recommendation - CAC Strategic Plan Update
City Commission Meeting
September 10,2014
Page 6 of 6
SLEEPLESS NIGHT
The CAC believes that it is essential for the City to present a major annual cityride
cultural festival to maintain its position as an international cultural destination. CAC
members unanimously endorsed the retum of an annual Sleepless Night, building on the
existing substantial intemational recognition of the brand. Seed funding could derive
from liquidation of the CAC endowment, with additional funding from sponsorships and
grants.
SLEEPLESS NIGHT was initiated in 2007 by the CAC as a way to focus the cultural
spotlight on Miami Beach after the cancellation of the annual 'lnvitation to the Arts" at
the Gleason. lt was more than just the cultural takeover of Miami Beach, with 150 free
arts and entertainment offerings at 80 different locations spread throughout the city and
the 13-hour night that marks the end of Daylight Savings Time. lt was in fact an
enormous and successful intersection of community and culture that crossed all baniers
of age, race, taste, economics and education. lts free programming was designed to
appeal to every segment of our diverse population, providing a unique opportunity to
create community through the universality of shared arts experiences. At the first
Sleepless Night (November 3, 2007) an instant and enthusiastic community of 100,000
people enjoyed arts and entertainment offerings both familiar and new. The second
Sleepless Night (November 7, 2009,) made possible by funding from the Knight Arts
Challenge, drew more than 130,000 residents and visitors for free museum admissions,
indoor and outdoor art installations and performances, street spectacle, music, dance,
theater, comedy, circus and more, all connected by free shuttle buses with onboard arts
programming. Sleepless Night is huge and inclusive: in one night it draws more than
twice as many people as Art Basel Miami Beach or the South Beach Wine & Food
Festival, and its residual effects for both artists and audiences are lasting. !t sends the
positive message that Art Matters to our residents, visitors and businesses. The 2009
event received nearly a billion media impressions and attracted artist inquiries from
across the U.S., Europe, Canada and South America. The 2011 Sleepless Night, again
with major Knight Foundation and National Endowment for the Arts funding, received
similar local praise and international media coverage, including a feature in Travel
&Leisure magazine and a segment on Good Moming America. The CAC firmly believes
that Sleepless Night has the potential to be as significant as any of the international Nurf
Blanche events if it can be held on an annual basis to maintain the marketing and
sponsorship momentum necessary for it to continue to grow. And for residents the
incorporation into the event of the new and existing circulator buses wil! allow even
greater neighborhood reach cityrtide.
Fiscal Year
Openlng
Balance
Surchalgo
Revenue
lnterest
Earned Grants Paid
Endlng
Balance
FY 07/08 $188.666 $107.558 s8.373 (s7.799.00)$296,797
FY 08/09 $296.797 $50.879 s9.621 (s13.002.50)$344.295
FY 09/10 $344,295 $95.264 $6.899 (s28.400.00)s418.057
FY 10t11 $418.057 $88.7s7 $5.427 ($26,200.00)$486,042
FY 11t12 $486.042 $125.276 $4.793 ($23.400.00)$592.710
FY 12t13 $592.710 $102.409 $4.195 (s40.400.00)$658.914
FY 13t14 $658.914 $108.988 s2.121 ($23,200.00)s746.822
FY 14115 Proiected $746,822 $97,018 $5,919 ($72.000.00)s777.759
FY 15/'16 Proiected $777,7s9 $97.018 $5.919 (s72.000.00)$808,696
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