Title
Approval of City Sponsorship for the Historic Roswell Criterium on Sunday, April 27, 2014.
Presented by Alice Wakefield, Director of Community Development
Body
Item Summary:
Bike Roswell! submitted a sponsorship application for the Historic Roswell Criterium by the required deadline for events held between January 2014 and June 2014. The application was included with the other sponsorship applications received for this time period and was presented to the Community Development and Transportation Committee in October 2013. The request for sponsorship was tabled pending additional event information. Bike Roswell! is seeking sponsorship of 90% of the total cost ($19,535.74) for the 2014 Historic Roswell Criterium in the amount of $17,582.17.
Committee or Staff Recommendation:
On February 3, 2014 the Community Development and Transportation Committee recommended placing this Item on the February 10, 2014 Mayor and Council Agenda.
Financial Impact:
The FY 2014 Approved Budget includes $60,000 for City Sponsorship of Special Events in Org 10061701, object 539999. With $36,345.92 in sponsorships granted in FY 2014 and $10,000 earmarked for Chattahoochee Nature Center (CNC) special events, the special events budget has $13,654.08 remaining. With approval of this sponsorship, the special events budget will be exceeded by approximately $3,928. There is currently approximately $2,470 remaining in the amount earmarked for the CNC which could help offset the deficit leaving a potential final deficit of $1,458. The $1,458 potential deficit could be satisfied with a budget amendment transferring funds from the General Fund Operating Contingency which has a balance of $226,961.17 or potentially from within the Special Events budget should previously approved sponsorship amounts be less than estimated.
Presented by:
Alice Wakefield, Director of Community Development