Fiscal Note
This Agreement provides for the City to fund $55,000 in City agency base costs and requires no cash contribution from the City. In 2012, the City funded $77,000 in City agency base costs and contributed cash of $16,886, for a total City contribution of $93,886 paid from the Room Tax Fund.
The City agency base costs are funded through a transfer from the Room Tax Fund to General Fund Revenues. The 2013 Adopted Budget includes an anticipated transfer of $78,300, which is $23,300 more than required by this Agreement. Therefore, Room Tax Fund expenditures and General Fund Revenues are anticipated to be $23,300 less than budgeted. In addition, individual agency budgets include revenue received from the event organizer. This Agreement has no net impact on the General Fund because the loss in General Fund Revenues will be offset by the revenue received from the organizer or decreased expenditures by the agencies. No cash contribution is included in the 2013 Budget, which is consistent with this Agreement.
Title
Authorizing the Mayor and the City Clerk to enter into an agreement with Madison Fireworks Fund, Inc. and/or Madison Festivals, Inc. to provide for the 2013 Rhythm & Booms Independence Day firework celebration at Warner Park.
Body
WHEREAS, since 1996 the City has worked with the Madison Fireworks Fund, Inc. (MFF) to put on an Independence Day celebration at Warner Park known as Rhythm & Booms; and,
WHEREAS, over time, the City’s costs related to Rhythm & Booms have grown and efforts have been undertaken by the City and MFF to reduce the size and scope of the event in order to rein in costs; and,
WHEREAS, MFF’s operations and ownership of the Rhythm & Booms event are expected to be taken over by Madison Festivals, Inc. (MFI), who has expressed the desire to hold the 2013 Rhythm & Booms event at Warner Park.
NOW THEREFORE BE IT RESOLVED, that the City agrees that MFF/MFI may use Warner Park to hold the 2013 Rhythm & Booms event on Wednesday...
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