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HomeMy WebLinkAbout06/18/2025 - Meeting Materials FY26 PROPOSED FISCAL YEAR 2025-2026 City Arts General& Visual Arts Art Barn Busker Grants Administration Mondays LTFestival Outreach Public Art Program Wake the GSL Twilight Budget Budget Budget Budget Budget Budget Budget Budget Budget Budget Budget Ordinary Income/Expense Income REVENUE CITY In-Kind SLC Dept DIED Exp. 53,805.00 In-Kind SLC Dept Salaries&Ben 49,686.02 16,043.61 135,817.83 273,089.58 22,754.79 145,347.47 186,660.53 258,711.70 129,321.12 42,250.00 47,104.36 Contrbution from Bloomberg SLC Nondepartmental 12,500.00 60,000.00 500,000.00 26,192.00 284,916.00 5,000.00 5,000.00 26,392.00 105,000.00 Total CITY 62,186.02 76,043.61 635,817.83 326,894.58 48,946.79 430,263.47 191,660.53 263,711.70 155,713.12 42,250.00 152,104.36 CONTRIBUTIONS Corporate 50,000.00 Foundations 25,000.00 474,590.00 5,000.00 In-Kind 10,000.00 90,000.00 65,000.00 Contribution from Fund Balance 1,830.08 6,705.00 520.96 1,320.96 - 25,000.00 25,000.00 Individuals 2,800.00 3,500.00 Total CONTRIBUTIONS 1,830.08 6,705.00 520.96 11,320.96 167,800.00 564,590.00 33,500.00 EARNED INCOME Beverage Sales Alcohol 29,000.00 Non Alcohol Total Beverage Sales - 29,000.00 - - Commissions 5,500.00 Rental Fees 3,500.00 Ticket Fees 8,600.00 Ticket Sales 30,000.00 Vendor Fees 14,000.00 Total EARNED INCOME 3,500.00 - - - 43,000.00 - - 5,500.00 38,600.00 GOVERNMENT GRANTS County 6,648.00 2,508.00 103,652.00 1,254.00 77,904.00 1,250.00 1,650.00 3,070.00 2,064.00 Federal 30,000.00 State 1,149.12 5,693.92 1,482.00 14,356.52 683.04 15,362.08 760.00 1,532.16 1,541.16 Total GOVERNMENT GRANTS 7,797.12 8,201.92 1,482.00 118,008.52 1,937.04 123,266.08 2,010.00 1,650.00 4,602.16 3,605.16 OTHER REVENUE Interest Income - 400.00 6,016.08 20,533.92 1,000.00 2,050.00 Miscellaneous Income Total OTHER REVENUE - 400.00 - 6,016.08 - 20,533.92 - 1,000.00 2,050.00 - - Total REVENUE 73,483.14 86,475.61 644,004.83 451,440.14 62,204.79 784,863.47 193,670.53 266,361.70 167,865.28 606,840.00 227,809.52 Busker/Brown City Arts General& Visual Arts Art Barn Bag Grants Administration Mondays LTFestival Outreach Public Art Program Wake the GSL Twilight Budget Budget Budget Budget Budget Budget Budget Budget Budget Budget EXPENSES General&Adminstrative Bank Fees 700.00 Benefits 560.00 1,200.00 35.00 Conference Fees 500.00 Contracted Services 7,500.00 70,000.00 38,000.00 65,500.00 1,500.00 9,200.00 434,221.00 180,000.00 Credit Card Fees 1,600.00 Dues/Subscriptions/Publications 13,500.00 300.00 Employee Screenings 500.00 General Insurance 9,700.00 In-Kind SLC Dept DIED Expenses 53,805.00 In-Kind SLC Dept Salaries&Ben 49,686.02 16,043.61 135,817.83 273,089.58 22,754.79 145,347.47 186,660.53 258,711.70 129,321.12 42,250.00 47,104.36 Parking/Mileage 200.00 1,500.00 100.00 Travel 1,000.00 - Utilities 10,000.00 Total General&Adminstrative 67,186.02 86,043.61 135,817.83 392,154.58 22,754.79 214,547.47 188,160.53 258,711.70 138,821.12 476,506.00 227,204.36 Program Expenses Advertising&Publicity 250.00 1,000.00 250.00 13,500.00 250.00 1,750.00 2,650.00 36,823.00 Artist Commissions 3,850.00 Beverages Purchased Alcohol 8,000.00 Non Alcohol 5,500.00 Total Beverages Purchased - - - 13,500.00 - - - Equipment Rental 15,500.00 156,250.00 Food&Beverage 350.00 3,400.00 3,200.00 500.00 500.00 300.00 Grant Expense Artist in the Classroom 21,000.00 General Support 333,000.00 Project Support Round 1 73,000.00 Project Support Round 2 73,000.00 Wake Grants NEA Grant Funds Total Grant Expense 500,000.00 - - - - - - Graphics/Design Work 400.00 9,000.00 Honoraria&Artist Fees 1,350.00 10,000.00 90,000.00 3,100.00 4,000.00 7,900.00 3,500.00 In-Kind Goods&Services 10,000.00 90,000.00 65,000.00 Mailing 700.00 Merchandise Purchase 3,500.00 Miscellaneous Charge 1,000.00 5,349.00 Payroll Taxes Federal Unemployment Tax FICA Payroll Taxes-Other 160.00 32.00 3,224.00 200.00 6,836.00 428.00 300.00 80.00 Total Payroll Taxes 160.00 32.00 3,224.00 200.00 6,836.00 - - 428.00 300.00 80.00 Permits&Licenses 22,030.00 15,000.00 Postage 200.00 2,200.00 Printing 1,000.00 400.00 15,500.00 500.00 1,000.00 4,500.00 Salaries&Wages 2,500.00 400.00 42,000.00 2,500.00 86,500.00 5,350.00 3,415.00 1,000.00 Security 1,250.00 - 55,000.00 Supplies 1,200.00 6,237.00 3,000.00 200.00 5,500.00 1,000.00 400.00 1,500.00 947.00 Unemployment 5,000.00 Total Program Expenses 5,110.00 432.00 508,187.00 59,824.00 39,450.00 570,316.00 5,350.00 7,650.00 29,378.00 130,334.00 1,080.00 Total EXPENSES 72,296.02 86,475.61 644,004.83 451,978.58 62,204.79 784,863.47 193,510.53 266,361.70 168,199.12 606,840.00 228,284.36 Net Income 1,187.12 (538.44) 160.00 (333.84) (474.84) FUND BALANCE NET POSITION TOTAL Budget 53,805.00 1,306,787.00 1,025,000.00 50,000.00 504,590.00 60,377:00 786,267.00 29,000.00 29,000.00 5,500.00 3,500.00 8,600.00 30,000.00 14,000.00 90,600.00 200,000.00 30,000.00 42,560.00 272,560.00 30,000.00 30,000.00 3,565,019.00 700.00 1,795.00 500.00 805,921.00 1,600.00 13,800.00 500.00 9,700.00 53,805.00 1,306,787.00 1,800.00 1,000.00 10,000.00 2,207,908.00 56,473.00 3,850.00 8,000.00 5,500.00 13,500.00 171,750.00 8,250.00 21,000.00 333,000.00 73,000.00 73,000.00 500,000.00 9,400.00 119,850.00 165,000.00 700.00 3,500.00 6,349.00 11,260.00 11,260.00 37,030.00 2,400.00 22,900.00 143,665.00 56,250.00 19,984.00 5,000.00 1,357,111.00 3,565,019.00 1,007,788.50 947,411.50 Salt Lake Arts Council Foundation Profit & Loss Budget vs. Actual July 2024 through May 2025 Jul'24-May 25 Budget $Over Budget Ordinary Income/Expense Income REVENUE CITY In-Kind SLC Dept DED Exp. 0.00 53,805.00 -53,805.00 In-Kind SLC Dept Salaries&Ben 0.00 1,349,037.00 -1,349,037.00 SLC Nondepartmental 1,000,000.00 1,000,000.00 0.00 Total CITY 1,000,000.00 2,402,842.00 -1,402,842.00 CONTRIBUTIONS Corporate 64,563.20 55,600.00 8,963.20 Foundations 1,096,375.00 626,785.00 469,590.00 In-Kind 0.00 195,816.02 -195,816.02 Individuals 34,605.00 37,405.00 -2,800.00 Total CONTRIBUTIONS 1,195,543.20 915,606.02 279,937.18 EARNED INCOME Beverage Sales Alcohol 0.00 29,000.00 -29,000.00 Total Beverage Sales 0.00 29,000.00 -29,000.00 Commissions 6,592.50 6,680.00 -87.50 Other Fees 7,064.50 7,064.50 0.00 Rental Fees 5,100.00 5,000.00 100.00 Ticket Sales 20,530.00 20,000.00 530.00 Vendor Fees 11,200.00 11,900.00 -700.00 Total EARNED INCOME 50,487.00 79,644.50 -29,157.50 GOVERNMENT GRANTS County 93,166.32 186,000.00 -92,833.68 Federal 0.00 30,000.00 -30,000.00 State 54,936.00 71,040.00 -16,104.00 Total GOVERNMENT GRANTS 148,102.32 287,040.00 -138,937.68 OTHER REVENUE Interest 28,575.39 28,500.00 75.39 Miscellaneous Income 36,121.70 1,000.00 35,121.70 Total OTHER REVENUE 64,697.09 29,500.00 35,197.09 Total REVENUE 2,458,829.61 3,714,632.52 -1,255,802.91 Total Income 2,458,829.61 3,714,632.52 -1,255,802.91 Gross Profit 2,458,829.61 3,714,632.52 -1,255,802.91 Expense EXPENSES Page 1 of 6 Jul'24-May 25 Budget $Over Budget General&Adminstrative Bank Fees 386.26 700.00 -313.74 Benefits 1,548.00 1,825.00 -277.00 Conference Fees 340.00 600.00 -260.00 Contracted Services 363,260.23 825,200.00 -461,939.77 Credit Card Fees 1,097.89 1,600.00 -502.11 Dues/Subscriptions/Publications 10,972.14 13,800.00 -2,827.86 Employee Screenings 452.00 500.00 -48.00 General Insurance 7,664.15 9,500.00 -1,835.85 In-Kind SLC Dept DED Expenses 0.00 53,805.00 -53,805.00 In-Kind SLC Dept Salaries&Ben 0.00 1,349,037.01 -1,349,037.01 Parking/Mileage 128.42 1,780.00 -1,651.58 Travel 9,793.10 18,383.00 -8,589.90 Utilities 6,508.98 9,000.00 -2,491.02 Total General&Adminstrative 402,151.17 2,285,730.01 -1,883,578.84 Program Expenses Advertising&Publicity 19,030.42 48,251.00 -29,220.58 Artist Commissions 2,352.58 4,676.00 -2,323.42 Beverages Purchased Alcohol 0.00 8,000.00 -8,000.00 Non Alcohol 0.00 5,500.00 -5,500.00 Beverages Purchased-Other 5,723.28 Total Beverages Purchased 5,723.28 13,500.00 -7,776.72 Equipment Rental 121,919.98 167,300.00 -45,380.02 Equipment Repairs&Maintenance 0.00 0.00 0.00 Food&Beverage 8,209.45 8,550.00 -340.55 Grant Expense Artist in the Classroom 21,000.00 21,000.00 0.00 Bloomberg 200,000.00 200,000.00 0.00 General Support 321,450.00 333,000.00 -11,550.00 Project Support 155,950.00 146,000.00 9,950.00 Total Grant Expense 698,400.00 700,000.00 -1,600.00 Graphics/Design Work 4,500.00 9,400.00 -4,900.00 Honoraria&Artist Fees 24,162.50 102,400.00 -78,237.50 In-Kind Goods&Services 0.00 195,816.02 -195,816.02 Lodging 585.74 Mailing 797.86 675.00 122.86 Meals 0.00 Merchandise 3,152.40 3,200.00 -47.60 Miscellaneous Charge 1,339.12 5,043.00 -3,703.88 Payroll Taxes Federal Unemployment Tax 471.06 Page 2 of 6 Jul'24-May 25 Budget $Over Budget FICA 8,167.10 Payroll Taxes-Other 0.00 10,062.00 -10,062.00 Total Payroll Taxes 8,638.16 10,062.00 -1,423.84 Permits&Licenses 5,402.00 19,480.00 -14,078.00 Postage 2,368.79 2,400.00 -31.21 Printing 22,059.56 23,950.00 -1,890.44 Salaries&Wages 106,759.07 127,265.00 -20,505.93 Security 51,479.82 56,250.00 -4,770.18 Supplies 15,574.88 20,260.00 -4,685.12 Unemployment 61.16 3,000.00 -2,938.84 Total Program Expenses 1,102,516.77 1,521,478.02 -418,961.25 Total EXPENSES 1,504,667.94 3,807,208.03 -2,302,540.09 Payroll Expenses 0.00 Total Expense 1,504,667.94 3,807,208.03 -2,302,540.09 Net Ordinary Income 954,161.67 -92,575.51 1,046,737.18 Net Income 954,161.67 -92,575.51 1,046,737.18 Page 3 of 6 Salt Lake Arts Council Foundation 10:46AM Profit & Loss Budget vs. Actual 06/06/2025 July 2024 through May 2025 Accrual Basis %of Budget Ordinary Income/Expense Income REVENUE CITY In-Kind SLC Dept DED Exp. 0.0% In-Kind SLC Dept Salaries&Ben 0.0% SLC Nondepartmental 100.0% Total CITY 41.62% CONTRIBUTIONS Corporate 116.12% Foundations 174.92% In-Kind 0.0% Individuals 92.51% Total CONTRIBUTIONS 130.57% EARNED INCOME Beverage Sales Alcohol 0.0% Total Beverage Sales 0.0% Commissions 98.69% Other Fees 100.0% Rental Fees 102.0% Ticket Sales 102.65% Vendor Fees 94.12% Total EARNED INCOME 63.39% GOVERNMENT GRANTS County 50.09% Federal 0.0% State 77.33% Total GOVERNMENT GRANTS 51.6% OTHER REVENUE Interest 100.27% Miscellaneous Income 3,612.17% Total OTHER REVENUE 219.31% Total REVENUE 66.19% Total Income 66.19% Gross Profit 66.19% Expense EXPENSES Page 4 of 6 %of Budget General&Adminstrative Bank Fees 55.18% Benefits 84.82% Conference Fees 56.67% Contracted Services 44.02% Credit Card Fees 68.62% Dues/Subscriptions/Publications 79.51% Employee Screenings 90.4% General Insurance 80.68% In-Kind SLC Dept DED Expenses 0.0% In-Kind SLC Dept Salaries&Ben 0.0% Parking/Mileage 7.22% Travel 53.27% Utilities 72.32% Total General&Adminstrative 17.59% Program Expenses Advertising&Publicity 39.44% Artist Commissions 50.31% Beverages Purchased Alcohol 0.0% Non Alcohol 0.0% Beverages Purchased-Other Total Beverages Purchased 42.4% Equipment Rental 72.88% Equipment Repairs&Maintenance 0.0% Food&Beverage 96.02% Grant Expense Artist in the Classroom 100.0% Bloomberg 100.0% General Support. 96.53% Project Support 106.82% Total Grant Expense 99.77% Graphics/Design Work 47.87% Honoraria&Artist Fees 23.6% In-Kind Goods&Services 0.0% Lodging Mailing 118.2% Meals Merchandise 98.51% Miscellaneous Charge 26.55% Payroll Taxes Federal Unemployment Tax Page 5 of 6 %of Budget FICA Payroll Taxes-Other 0.0% Total Payroll Taxes 85.85% Permits&Licenses 27.73% Postage 98.7% Printing 92.11% Salaries&Wages 83.89% Security 91.52% Supplies 76.88% Unemployment 2.04% Total Program Expenses 72.46% Total EXPENSES 39.52% Payroll Expenses Total Expense 39.52% Net Ordinary Income -1,030.69% Net Income -1,030.69% Page 6 of 6 SALT LAKE CITY AM C O U N C I L /I _ r Ir ■ J w C3 rum a' • • t• - - �'e n wz z r do■l ?CI �k I -e lid dw Cgi - 0j. �Z7� II 114111 �WWII =1 Y t ME 1 s -4k, i a , lb $ems IW 's �..♦, .;., .N mg 44. I/ r C• s: � '< �'�p• Y� fir'_ " - At •°�s� - - ~ •ems: •!����j • � `1 o .y yam._,r. �I• c1, , � � l V �• i DRINKS I j 10-11 4 6 �-- �----- �" r -. _� J��� ���� -y g -� - // �`� � �_ � + � — T lap— fe -`— tI N T PUBLIC ART EVENT ® ® r 'I zions avE 4 { i'w P 1 r r. r _ �t- ��. -- _ _ -_� � �._��� ___ '! �� _ ,. �� r.. , -� f-- .. � � G3 � 1 � ��.� � � � f �� f ,� ' ;] � ,` ,r r � � `ram _ '• ' � u ..� �� ! ��f •. _� �i ,1;. _ �� 1 1 � � _ PROPOSED BUDGET FY26 13 SUMMARY • Overall, we see budget decreases primarily due to less expenditures of Wake the Great Salt Lake occurring in FY26. • All other budget classes have immaterial changes FY25: $3,807,208.02 FY26: $3,565,019.00 Difference: $-242,189.02 • Primary material increase Twilight Concert Series • Short term usage of Fund Balance to mitigate State grant decline REVENUE 14 • Contributions from Fund Balance • 25KTwilight (Approved Oct FY25) • 25K Wale (Approved FY23) • $ 10,377 Remaining for Programs • Salaries & Wages SLC • (4%) COLA • Utah Arts & Museums (UA&M) • Decrease $61 ,040 To $42,560 15 EXPENSE Twilight Concert Series Contracted Services • Planned and board approved contract increase for Twilight Concert Series: 180K (50K increase) • 25K approved by SLC Mayor/Council