3.a.i Cultural Funding Update — original pdf

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COUNCIL MEMO AND C ULTURAL FUNDING UPDATES JESUS PANTEL, CULTURAL FUNDING SUPERVISOR Cultural Contracts Update Memo to City Council Email to Cultural Contractors Current Contract Cycle Important Budget Information Cultural Funding Review C I T Y O F A U S T I N C U L T U R A L A R T S Current Contract Cycle Additional team members Completed by end of March C I T Y O F A U S T I N C U L T U R A L A R T S This Photo by Unknown author is licensed under CC BY. Contract Processing Increasing C I T Y O F A U S T I N C U L T U R A L A R T S FY 21 Contract Processing Stats 53% to Contractors 27% have not submitted pre- contract materials 19% are in review or need revisions C I T Y O F A U S T I N C U L T U R A L A R T S STAFF WILL REVIEW 15/DAY OR 75/WEEK 12 BUSINESS DAYS TO REVIEW THE 183 REMAINING (START MARCH 15, END MARCH 30) DEPENDENT ON MATERIALS BEING RECEIVED AND SUBMITTED CORRECTLY Contract Review Commitment C I T Y O F A U S T I N C U L T U R A L A R T S Causes of Delays Event dates within contract period Budget balances Form 1295 Name change Insurance certificate C I T Y O F A U S T I N C U L T U R A L A R T S Optional Contract Extension Up to one year Extend through September 30, 2022 Payment schedule stays the same Sponsored Projects Fiscal Sponsor must also approve Won’t prevent other sponsored project or Fiscal Sponsor from entering into new contracts C I T Y O F A U S T I N C U L T U R A L A R T S Budget Information C I T Y O F A U S T I N C U L T U R A L A R T S Impact of Tourism & Lodging Hotel occupancy down 43% occupancy in December 2020 Travel Down Airline passsenger traffic down 63% Was 78% occupancy in December 2019 Domestic travel down 62% Room rental rates much lower International travel down 84% C I T Y O F A U S T I N C U L T U R A L A R T S FY 21 Budget Impact FY 21 Awards will remain whole No 4th quarter Community Initiatives applications C I T Y O F A U S T I N C U L T U R A L A R T S FY 22 Budget Impact FY 22 impact unknown •Budget forecast April 16 •American Rescue Plan funds? •Funding programs? C I T Y O F A U S T I N C U L T U R A L A R T S Cultural Funding Review Assess funding options in April Racial equity integral Unprecedented reduction in Hotel Occupancy Tax funds No program announcements until after April budget presentation A focus of Strategic Direction 2023 Build on the Equity Resiliency Framework used for FY 21 awards Community conversation C I T Y O F A U S T I N C U L T U R A L A R T S C I T Y O F A U S T I N C U L T U R A L A R T S