HomeMy WebLinkAbout10/07/2015 7B AGENDA BILL
CITY OF BREMERTON
CITY COUNCIL
SUBJECT: Renewal of Annual Funding Study Session Date: September 23, 2015
Commitment to Admiral Theatre Foundation COUNCIL MEETING Date: October 7, 2015
Department: Financial Services
Presenter: Cathy Johnson
Phone: (360)473-5296
SUMMARY: Per the terms of the Operating Agreement with the Admiral Theatre Foundation, as
amended, the City Council annually must renew its commitment to continue its financial contribution
to the Foundation. The most recent review has been completed and is being presented prior to the
Council's consideration of the 2016 budget. It is the recommendation by the Director of Financial
Services that the City Counci( renew its commitment of the current funding amount of$150,000 per
year for 2016.
ATTACHMENTS: 1) Explanatory Memo 2)Admirat Theatre Facility Review 3) Financial Statement
for the Year Ended August 31, 2014
FISCAL IMPACTS (Include Budgeted Amount): Upon Council commitment a financial contribution of
$150,000 will be included in the proposed 2016 Annual City Budget.
STUDY SESSION AGENDA: � No Presentation ❑ Full Presentation
STUDY SESSION ACTION: O Consent Agenda � General Business C7 Public Hearing
RECOMMENDED MOTION:
Move to renew the City of Bremerton's funding commitment in the amount of$150,000 to the Admiral
Theatre Foundation per the Operating Agreement as amended.
COUNCIL ACTION: dApprove ❑ Deny ❑ Table ❑ Continue ❑ No Action
Form Updated 01/07/15