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CC - Item 6A - Lunar New Year Family Festival 2014 Budget AdjustmentROSEMEAD CITY COUNCIL STAFF REPORT TO: THE HONORABLE MAYOR AND CITY COUNCIL FROM: JEFFRY ALLRED, CITY MANAGER }'f DATE: DECEMBER 10, 2013 SUBJECT: LUNAR NEW YEAR FAMILY FESTIVAL 2014 BUDGET ADJUSTMENT SUMMARY In 2009, City Council approved creation of the City of Rosemead's Lunar New Year Family Festival in partnership with EDI Media. EDI has been largely responsible for event operations since the first event in 2010. While EDI was tentatively scheduled to run the 2014 event, they recently informed the City that they can no longer do so. Given time and budget limitations, the Parks and Recreation Department will assume all event responsibilities, though the City will seek assistance from other agencies with some aspects of the event. The 2014 event is scheduled for Saturday, February 15, from 10:00 a.m. to 5:00 p.m., and will consist of stage entertainment, gourmet food trucks, merchandise booths, and youth activities. As in 2010, it will be located on Mission Drive. In assuming operations, the City will also take on all financial responsibility. The City will no longer share expenditures, but will also retain all event revenues towards offsetting costs. Staff Recommendation City Council direction is requested regarding a proposed increase of $4,000 for the 2014 Lunar New Year Family Festival special event budget to offset anticipated cost increases. ANALYSIS As noted above, EDI Media, the City's contracted event vendor for the past four years, cannot partner for this year's event. The City will, therefore, assume all responsibility for operations. In previous years, the City paid a lump sum ($8,000 in 2013) to the contractor to offset a small portion of event costs and shared responsibilities for event promotion. EDI was responsible for all other associated costs and received all revenues generated by the event. Assuming responsibility will result in some costs increases, but will also provide revenues to offset some of those costs. To limit event costs, the scale of the event will be reduced to be consistent with other City special events. The City will contract with a vendor to provide gourmet food trucks, primarily engage local talent (at no cost), seek volunteers and ask City staff to flex their time to work the event, and will absorb LASD personnel costs for event security in the current contract. Additionally, to offset costs, the City will charge merchandise vendors a fee to operate a booth, require food trucks to remit 10% of all event - related sales to the City, and, as with other events, sell wristbands for youth activities. APPROVED FOR CITY COUNCIL AGENDA: ITEMNUMBER: WN City Council Meeting December 10, 2013 Page 2 of 2 Event costs are estimated to be as follows: It em/Activity Rentals (portalets, sinks, 3- compartment sinks, chairs /tables) Estimated Cost $4,500 Boulevard Banners (2) $2,000 Attractions $2,100 Game /craft booths supplies $ 700 Stage sound $1,000 Professional Entertainment (3 acts) $1,200 Miscellaneous supplies $ 500 Total $12,000 The above costs account for stage entertainment throughout the day, food provided by food trucks, and 30 merchandise booths (which may include snack foods provided by professional vendors), and children's activities including 10 game and craft booths and six attractions. These costs are consistent with expenditures related to the City's Fall Fiesta, which is similar in size and scale to what is being proposed for Lunar New Year 2014. Event revenues are estimated as follows: In addition to the revenues detailed above, we will pursue event sponsorships through local and regional businesses. However, there is no way to determine the success of such an effort. Any sponsorship monies received would further offset actual event expenditures. PUBLIC NOTICE PROCESS This item has been noticed through the regular agenda notification process. FISCAL IMPACT The fiscal year 2013 -14 budget includes $8,000 for the Lunar New Year Family Festival. An additional $4,000 from unreserved fund balance will be needed to cover additional event costs. Further, costs for Sheriff's Department personnel can be absorbed in the current fiscal year contract and staff will flex time so as not to incur added staff costs. Finally, event revenues should offset most of the added costs. Director