Title
Discuss Washington Center for the Performing Arts’ First Quarter Budget
Recommended Action
Committee Recommendation:
Not referred to a committee.
City Manager Recommendation:
Discuss Washington Center for the Performing Arts’ First Quarter Budget
Report
Issue:
Whether to discuss the Washington Center for the Performing Arts’ First Quarter Budget.
Staff Contact:
Debbie Sullivan, Administrative Services Director, 360.753.8499
Presenter(s):
Jill Barnes, Executive Director, Washington Center for the Performing Arts
Background and Analysis:
The Washington Center for the Performing Arts (Center) was constructed in 1985 by the City of Olympia. While the City owns the building, the Center holds a long-term lease agreement to provide quality and financially sound performing arts programming for the entire community. The facility is located in the heart of downtown Olympia and has become a community gathering place, providing a focus for the performing arts in the region.
Jill Barnes, Executive Director of the Center, presented a financial report to the Finance Committee on April 15. She shared the results of their 2018 audit, capital reinvestment plans, success of their 2019 season, and the Center’s plan for surviving the loss of revenue from having to close the Center as a result of the Governor’s “Stay Home, Stay Healthy” order.
The Center receives 2% of the Lodging Tax collected in the City of Olympia. The City’s 2020 Operating Budget allocated $520,000; however, due to the severe reduction in hotel/motel stays the amount of revenue available could be reduced by as much 50 - 80%. At the April 15 Finance Committee meeting, Jill requested the Center receive the full $520,000 that was budgeted regardless of the amount of revenue actually received.
The Finance Committee agreed to fund the Center based on 1/12th of the annual Lodging Tax revenue budgeted ($264,000) through the end of the Center’s fiscal year (June 30). The Committee expressed a willingness to consider using Lodging Tax reserves if necessary, beyond June 30th and invited Jill to update the Committee on the Center’s financial position every quarter through the end of the year. Jill will present and discuss their first quarter projected revenue and expenses - July through September 2020.
Neighborhood/Community Interests (if known):
The Washington Center for the Performing Arts is a beloved cultural institution in Olympia that provides performing arts programming for the entire community.
Options:
Receive the briefing
Do not receive the briefing
Financial Impact:
The Finance Committee agreed to fund the Center based on 1/12th of the annual Lodging Tax revenue budgeted, $264,000, through the end of the Center’s fiscal year (June 30).
Attachments:
None