arts parks prop k recon powerpoint 7-24-14

8/12/2019 Arts Parks Prop K Recon Powerpoint 7-24-14

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Proposition K: Reconciliation Report

(Fiscal Years 1997-98 through 2026-27)

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Proposition K Reconciliation Report

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Program Overview:

Authorized:In 1996 through adoption of a Ballot Measure approved by City voters.

Term: Currently in Year 18 of a 30 year term covering FYs 1997-98 through 2026-27.

Funding: $25 million annually, for total funding authority of $750 million.

Oversight: Delegated by Council to the L.A. for Kids Steering Committee, comprisedof the Mayors Office, CLA & CAO, with the latter serving as chair.

Allowable Use of Funds: 1) Capital Projects (82%);2) Program Administration (3%); and,3) Maintenance of Completed Projects (15%).
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Report Overview:

The Proposition K Reconciliation report addresses three areas:

1. Prior Years (Yrs 1-16): Identifies completed projects, along with accounting &

programmatic adjustments needed to complete closeout activities.

2. Active Program (Yrs 17/18): Provides updates on active projects, with

recommendations to address funding shortfalls known at this time.

3. Future Program (Yrs 19-30):

a. Identifies remaining program requirements.

b. Recommends use of Prop K surplus capacity

and program interest funds to resolve shortfalls

on the remaining specified projects.

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Program Snapshot: Program Requirements

The majority of the Proposition K program requirements have already beensatisfied as of the current Program Year 18, with 12 years remaining:

* Includes 3 phased projects with active components.

** Offsets a $10.8 overage above the minimum funding levels for four of the eightcompetitive funding categories defined in the Proposition K Ballot Measure.

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Program Required Complete Active Future

Specified 183 projects 112 projects 38 projects 36 projects *

Competitive Award

$143.65million

$127.24 million awarded to:

168 complete & 63 activeprojects

Award an

additional$27.2 million **


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Future Program: Recommended Use of Surplus Capacity

An estimated $93.4 million surplusof Proposition K funding capacity isavailable after funding all remaining program mandates.

Future Funding(Yrs 18-30): $325 million

Use of the surplus capacity is recommended to resolve an estimated $64.4 millionshortfallfor the 36 remaining specified projects the City is required to complete.

The remaining $29 million surpluswould be reserved to address unknown factors.

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Administration($10.4M)

Maintenance($82.3M)

CompetitiveAwards($27.2M)

Debt Service($20.2M)

Active SpecifiedProjects($7.8M)

FutureSpecified

Projects($83.7M)

SurplusCapacity

($93.4M)


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Future Program: Priority Projects & Budget Process

Award of $16.13 million in Proposition K program interest funds isrecommended at this time for 11 high-priority specified projects.

Projects were selected based on input from operating departments,

community members and respective Council Districts.

Prop K interest funds are not required for other program purposes.

Increases the program surplus available to the 25 remaining specified

projects from $29 million to $45 million to address shortfalls beyond current projections.

The availability of funding for allremaining specified projects will bedetermined through the existing annual budget process, with continuinginput from participating Council RVNOC appointees.

RVNOC = Regional Volunteer Neighborhood Oversight Committees

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Program Highlights: Completed Projects

A total of 280 Proposition K projects have been completed for the followingyouth-oriented facilities:

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Proposition K Completed Projects

Project Type Competitive Specified Totals

a. Museum, Theater and Zoo Facilities 2 5 7

b. Childcare Centers 10 16 26

c. Junior Arts / Youth Center Facilities 15 7 22

d. Intergenerational (Senior & Youth) Centers 0 1 1

e. Pool, Lake, Wetlands and Other Aquatics 15 4 19

f. Roller/Ice/Hockey/Skatepark Facilities 5 1 6g. Park Development / Facility Renovations 71 68 139

h. Lighting Projects 23 1 24

i. Urban Greening and Trail Development 13 3 16

j. Acquisition for Parks / Natural Land 14 6 20

Total Active Projects: 168 112 280


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Proposition K REGIONAL PROJECTS8

Childrens Museum, CD 7

Griffith Observatory, CD 4 Hansen Ranger Station, CD 7 L.A. Riverfront Park, CD 2

S.E. Valley Skate Park, CD 6

Banning Museum, CD 15

MacArthur Park, SyntheticSoccer & Play Area CD 1

Zoo Discovery Center, CD 4

Cabrillo Aquarium, CD 15Boyle Heights Sports Center, CD 14

South L.A. SportsActivity Center, CD 8

Echo Park Lake, CD 13


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Proposition K CENTRAL REGION

Eagle Rock Childcare, CD 14

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Lincoln Heights Roller Hockey & Boxing Gymnasium, CD 1

Marshal H.S. Track, CD 4

Poinsettia Rec. Center, CD 5

Wattles Mansion, CD 4 Childrens Institute, CD 13 Lexington Pocket Park, CD 13

Pacific Palisades Rec. Center, CD 11 Pecan Park Gym, CD 14


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Proposition K SOUTHERN REGION10

Harvard Pool & Bathhouse, CD 8

Manchester Junior Arts(Vision Theatre), CD 10

Culver Slauson Rec. Center, CD 11 Rosecrans Rec. Center Baseball Fields, CD 15

Fred Roberts Gym, CD 9Harvard Skate Park, CD 8

Lafayette Rec. Center, CD 10

W.L.C.A.C . Skate Park, CD 15

Ross Snyder Baseball Fields, CD 9


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Report Recommendations:

1. Prior Years: Reconciliation adjustments

Authorize $1.36 million in retroactive interest to offset funding overages for seven projects.

Authorize staff to revert residual funds from completed projects, with specific use of funds to beaddressed in a subsequent report to Council.

Recognize three Proposition K projects as having been completed by external funding sources.

2. Active Projects: Resolve shortfalls for projects currently in development

Authorize reuse of $4.36 million in Sites & Facilities ($3.24 million ) and CIEP ($1.12 million)monies to address the current estimate of active project shortfalls.

3. Future Years: Resolve shortfalls for remaining Prop K specified projects

Approve conceptual use of the Proposition K surplus funding capacity to offset the fundingshortfall projected for the 36 future specified projects (Attachment 8).

Award $16.13 million in Proposition K interest funds to offset the funding shortfall for the11 high-priority future specified projects.

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arts parks prop k recon powerpoint 7-24-14

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