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Home My WebLink About188-16 RESOLUTION113 West Mountain Street Fayetteville, AR 72701 (479) 575-8323 Resolution: 188-16 File Number: 2016-0464 FAYETTEVILLE RACE SERIES: A RESOLUTION TO APPROVE A BUDGET ADJUSTMENT IN THE AMOUNT OF $16,200.00 TO INCREASE FUNDING FOR THE FAYETTEVILLE RACE SERIES. BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF FAYETTEVILLE, ARKANSAS: Section 1: That the City Council of the City of Fayetteville, Arkansas hereby approves a budget adjustment in the amount of $16,200.00 to increase funding for the Fayetteville Race Series. PASSED and APPROVED on 10/18/2016 Page 1 {{{4111i1ft sol Y � '; FAYETTEVILLL # Attest: . -g C:) . ,r�ryc3�� "WA i`��• �'��j� ��`-• /G 7-0 Ny4 r Sondra E. Smith, City Clerk Treasurer Printed on 10119/16 City of Fayetteville, Arkansas 113 West Mountain Street _ Fayetteville, AR 72701 (479) 575-8323 Text File File Number: 2016-0464 Agenda Date: 10/18/2016 Version: 1 Status: Passed In Control: City Council Meeting File Type: Resolution Agenda Number: A. 4 FAYETTEVILLE RACE SERIES: A RESOLUTION TO APPROVE A BUDGET ADJUSTMENT IN THE AMOUNT OF $16,200.00 TO INCREASE FUNDING FOR THE FAYETTEVILLE RACE SERIES BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF FAYETTEVILLE, ARKANSAS: Section 1: That the City Council of the City of Fayetteville, Arkansas hereby approves a budget adjustment in the amount of $16,200.00 to increase funding for the Fayetteville Race Series. City of Fayetteville, Arkansas Page 1 Printed on 1011912016 John Crow Submitted By City of Fayetteville Staff Review Form 7 0 1, -04, Imes" star Fde i0 10/18/2016 City Council Meeting Date - Agenda Item Only N/A for Non -Agenda Item 9/30/2016 Parks & Recreation / Parks & Recreation Department Submitted Date Division / Department Action Recommendation: Staff recommends approval of a budget adjustment in the amount of $16,200 for the Parks Development Fund 2250-9250 to increase funding for the Fayetteville Race Series/Special Events. Budget Impact: 2250.520.9250-5200.00 and 2250.520.9250-5200.05 Account Number N/A Parks Development Fund N/A Project Number Project Title Budgeted Item? NA Current Budget $ 20,204.00 Funds Obligated $ 22,174.00 Current Balance Does item have a cost? Yes Item Cost $ 14,230.00 Budget Adjustment Attached? Yes Budget Adjustment $ 16,200.00 Remaining Budget V20140710 Previous Ordinance or Resolution # Original Contract Number: Approval Date: Comments: CITY OF Tay• BVI ARKANSAS MEETING OF OCTOBER 24, 2016 TO: Mayor Lioneld Jordan CITY COUNCIL AGENDA MEMO THRU: Don Marr, Chief of Staff Connie Edmonston, Parks and Recreation Director FROM: John Crow, Recreation Superintendent DATE: September 29, 2016 SUBJECT: Budget Adjustment — Parks & Recreation Special Events RECOMMENDATION: Staff recommends approval of a budget adjustment in the amount of $16,200 for the Parks Development Fund 2250-9250 to increase funding for the Fayetteville Race Series/Special Events. BACKGROUND: The Fayetteville Race Series was created in 2015 to add new and unique recreational opportunities for the residents of Fayetteville and non-residents that choose to visit our city to participate. The popularity of the events has exceeded expectations up to this point, especially the Square to Square Bicycle Ride. This collaborative event between the cities of Bentonville and Fayetteville is held twice annually on the Razorback Regional Greenway. The first fall event had 722 participants, much more than the anticipated 350. The spring of 2016 event saw an increase to 951 riders, then to 1,203 in for the most recent event held on September 10th. The significant increase in participation has inherently increased the expenditures of the events. DISCUSSION: With the budgeting process for the Parks and Recreation Department taking place in July, the budget for the 2016 Fayetteville Race Series was set before the first Square to Square event in the Fall of 2015. The event participation during the first year more than doubled the expected amount. The next two Square to Square events have seen a 31 % and 26% increase respectively, causing a need for increased expenditures in order to maintain a quality event. It should be noted that all the added costs are more than covered through sponsorships, donations and registration revenues. This includes a donation from the Hero Half Marathon for our efforts in assisting organizing and running the event. Staff is requesting a budget adjustment of $16,200 to ensure coverage of expenditures for not only the Square to Square event, but also the Run for the Parks on November 20th and the Frozen Toes 15K Trail Run on January 141n BUDGET/STAFF IMPACT: The Parks Development Fund (2250-9250) will be impacted by $16,200 of additional projected expenditures for the remainder of this year. These expenditures will be recovered by additional revenues collected through event registrations, sponsorships and donations. In addition to the Mailing Address: 113 W. Mountain Street www.fayetteville-ar.gov Fayetteville, AR 72701 registrations, sponsorships and donations collected, these events also contribute to the Parks HMR revenues through the visitors' utilization of our hotels and restaurants. Attachments: Spreadsheet City of Fayetteville Parks and Recreation Department Special Events REVENUE Event Frozen Toes 15K (2016) Frozen Toes 15K (2017) Cow Paddy 5K Square to Square (Spring) Ladies Du Splash and Dash Square to Square (Fall) Hero Half Marathon Run for the Parks EXPENDITURES Event Frozen Toes 15K (2016) Frozen Toes 15K (2017) Cow Paddy 5K Square to Square (Spring) Ladies Du Splash and Dash Square to Square (Fall) Hero Half Marathon Run for the Parks Sponsorships Donations Registration $ 334.00 $ 2,484.00 $ - $ 3,242.50 $ 12,867.00 $ 833.00 $ 8,880.00 $ 335.00 $ 1,540.00 $ 5,925.00 $ 15,990.00 $ 18,952.50 Total Expenditures $ 1,318.32 $ 9,009.41 $ 7,343.69 $ 1,627.22 $ 7,233.00 $ 68,114 Total $ 334.00 $ 5,150.00 $ 2,484.00 $ 16,109.50 $ 9,713.00 $ 1,875.00 $ 21,915.00 $ 3,500.00 $ 7,033.00 $ 30,058.64 Net Profit $ 38,054.86 Note: A&P grant paid direct expenses Ladies Du - $1,000 525 (Fall) - $2,000 City of Fayetteville, Arkansas - Budget Adjustment Form (Legistar) Budget Year Division Adjustment Number PARKS & RECREATION (520) /Org2 2016 Requestor: Alan Bearden BUDGET ADJUSTMENT DESCRIPTION / JUSTIFICATION: Request for approval to use $16,200 from fund balance for remaining expenditures required for Parks & Recreation - Special Events for the remainder of 2016. This request amount is a portion of the amount that revenues (from registration fees, sponsorships and donations) exceed the expenditures that are necessary to hold Special Events (i.e., Square to Square Bicycle Ride, Frozen Toes 15K Run, Run for the Parks, Hero Half Marathon, etc.). COUNCIL DATE: 10/18/201 6 LEGISTAR FILE ID#: 2016-0464 Lei. a rb wc[,, FeW 9/30/2016 957 AM Budget Director Date TYPE: DESCRIPTION: GLDATE: RESOLUTION/ORDINANCE POSTED: TOTAL 16,200 16,200 v.20160722 Increase / (Decrease) Proiect.Sub# Account Number Expense Revenue Project Sub AT Account Name 2250.520.9250-5200.05 15,600 . EX Supplies - Tournament/Awards 2250.520.9250-4999.99 - 16,200 RE Use Fund Balance - Current 2250.520.9250-5200.00 600 - EX Supplies - Office/Printing C:\Users\lsmith\AppDafa\Roaming\L5\Temp\2c21 f6 1 9-87cd-427d-ba84-79 I c3ffebbe5 i oil