115-2000 LTC
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CITY OF MIAMI BEACH
CITY HALL 1700 CONVENTION CENTER DRIVE MIAMI BEACH, FLORIDA 33139
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L.T.C. No. //5 -eJOO 0
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LETTER TO COMMISSION
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May 19,2000 'U\
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FROM:
Mayor Neisen O. Kasdin and
Members of the City Commission
Lawrence A Levy ~
City Manager V
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TO:
SUBJECT: COLONY THEATER - REVENUE AND EXPENSE STATEMENT
Attached you will find the revenue and expense statement for the prior three (3) years ending June
30, for the Colony Theater. This information will be incorporated in the RFP that will be presented
to the City Commission.
If you have any questions, please contact me.
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F:\CMGR\SALL\RAR\L TClCOLOTHEA.ST A
attachment
c: Christina M. Cuervo, Assistant City Manager
Jose Damien, Asset Manager
Kent Bonde, Redevelopment Coordinator
ColontP &L
5/1 8/00
CONCERT ASSOCIATION OF FLORIDA, INC.
COLONY THEA TRE
STATEMENT OF REVENUE AND EXPENSES
FOR THI~ YEARS ENDED 6/97, 6/98 8. 6/99
6/30/97 j r 6130/98 6/30/99
OPERATING REVENUE:
Theatra Rental S 97.435 $ 123,859 $ 139.530
Equipment Rentll 2,760 6.894 7,434
Insurance Reimbursement Note 1 3,698 3.525 12,925
Performance Labor Not/l 2 11,069 8.300 a,767
IntereS1 172 175 210
Box Office FeEls NotB 3 8.250 10,1324
House Manager Feee Note 3 8,250 10.624
Ca~ Rent31 Note 4 28,095 9,173
Reimbursement Cafe Utilities NOle 4 21 .250 6.711
Grant VCA 25,000 30,000
C.M,B. Subsidy Note 5 55.000 50.000
Other 338 616 334
Total Revenue $ 189,817 S 250,752 $ 240,449
OPERATING EXPENSES:
Salaries Nola 6 68.837 95,085 11 0,821
P'3yroll Tuea 6,958 7,274 . 8,618
Other employee benents 4,982 2,646 1.459
House Manager 5,775 7.125 a.950
Advertising 28.496 31,442 9,832
Office & Expengeg 1,639 1,509 2.235
Telephone 4,177 3.070 4,043
utilities 30.105 31,567 25,809
Tr::Jsh Dispossl 7,817 7,848 5,774
Bank Charges 55 3 81
Licences & Taxes 8,656 13,235 12.649
Gr.1nt Prepar3tion Services 4,891 2,251 4,305
Ticket Sellers Note 7 4.843
Ja,.,itorial Note 8 17,376 6.7 43 2,260
Extermtnating 1,300 695 895
Insurance 6,226 13,414 17,000
Security 2,251 650 3,677
EQuipment Rentll Exchange 729 351
BuildIng Repairs & Maintenance G.875 , .781 896
Stage Expenses (. Maintenance 5,664 1,911 5,225
PorforrT\.'3nce L::Jbor Exchange Note 2 12,944 7,068 7,390
Administrative Allocation Note 9 30,000 30,000 30.000
Total Expenses 275,025 266,245 267,112
EXC9&S 'If Revenues Over Expenses (Loss) (85:.208) (5,493) (266631
See NOI'es Attached
ColonyP&L
5/18/00
CONCERT ASSOCIATION OF FLORIDA, INC.
Notes to Stat'~ment 0 Revenue and Expenses
6/30/97 6/30/98 6/30/99
Note 1
Note 2
Note 3
Note 4
Note 5
Note 6
Note 7
Note 8
Note 9
Note:
Insurance Reimbursements:
The renter IS required to show proof of liability insurance. If no proof Is given
they can purchase it from us at a rate of $275.00 per day
Performance Labor, Performance labor expense:
Stage labor (in some cases) is paid to CAF and in exchange we pay the Technicians,
Box Office Fees, House manager fees:
Starting In the 97 198 fiscal year all the renters were charged a $250.00 fee
per show (second show same day $100.00) to help defray the costs oftne box office and house management. F
For accounting purposes these funds were allocated equally between the Box Office Fee account
and the House Manager Fee account.
Cafe Rental, Reimbursement Cafe Utilities;
During the fiscal year 98-99 the Cafe was vacant,
City elf Miami Beach Subsidy:
The $60,000.00 subsidy for 96-97 was not paid by CMS. These funds were applied to the Cafe rentals received
by CAF In 95-96 & 96-97 and a balance of $15,000.00 was retained by eMS as the result of tne poor record
keeping by the Cafe management.
Salanes:
Alsa, as result of the audit, the city recommended that we hire a full time Box Office Manager.
therefore increasing the salary account.
Ticket Sellers:
This represents part time ticket sellers hired.
J a n itl) rl a I:
The decrease in the expense is due to that during 96-97 a cleaning company was contracted to do
the cleaning. During 97.9a this cleaning company was terminated and an employee was hired. This person
would be called in to clean as needed and the expense was recorded as salary.
Administrative allocation:
This represents a portion of the Concert Associations overhead to help run the theatre.
(Accounting, telephones, space rental and other general administrative functions)
During these three fiscal years a total of $41,100.00 was received in capital improvement grants and $41,100 00
was :;pent. These amounts are not ret1e~ed in these statements.