Long Beach, CA
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File #: 19-0545    Version: 1 Name: CD3 - Fund Transfer Race Week
Type: Agenda Item Status: Approved
File created: 6/3/2019 In control: City Council
On agenda: 6/11/2019 Final action: 6/11/2019
Title: Recommendation to increase appropriations in the General Fund Group in the City Manager Department by $2,000, offset by the Third Council District one-time District Priority Funds transferred from the General Fund group in the Citywide Activities Department to provide funds to the Alamitos Bay Yacht Club who will be hosting their annual Long Beach Race Week event once all required City permits are obtained; and Decrease appropriations in the General Fund Group in the Citywide Activities Department by $2,000 to offset a transfer to the City Manager Department.
Sponsors: COUNCILWOMAN SUZIE A. PRICE, THIRD DISTRICT
Attachments: 1. 061119-R-25sr.pdf
TITLE
Recommendation to increase appropriations in the General Fund Group in the City Manager Department by $2,000, offset by the Third Council District one-time District Priority Funds transferred from the General Fund group in the Citywide Activities Department to provide funds to the Alamitos Bay Yacht Club who will be hosting their annual Long Beach Race Week event once all required City permits are obtained; and

Decrease appropriations in the General Fund Group in the Citywide Activities Department by $2,000 to offset a transfer to the City Manager Department.

DISCUSSION
INTRODUCTION:

Long Beach Race Week (LBRW) is historically one of the largest sailboat racing regattas in Southern California. It is held annually over three days in June in the waters outside Alamitos Bay. This year LBRW is scheduled to be held June 21-23 (Friday-Sunday). On average 140 boats and over 750 sailors compete in 10-12 races over three days. This event is one of the most highly acclaimed sailing events on the west coast.

This Council recommendation requests a funding transfer to the Alamitos Bay Yacht Club to contribute to this event pending all the proper City permits are obtained and using Third District one-time priority funds in the amount of $2,000,

This matter was reviewed by Budget Manager Grace H. Yoon on May 31, 2019.

FISCAL IMPACT
This recommendation requests the City Manager Department to provide funds to the Alamitos Bay Yacht Club who will be hosting the annual Long Beach Race Week event. The total appropriation increase in the General Fund Group in the City Manager Department in the amount of $2,000 is offset by a decrease of ?appropriation of Third Council District one-time District Priority Funds in the General Fund Group in the Citywide Activities Department. Implementing this recommendation is anticipated to result in a minimal impact to staff hours beyond normal budgeted scope of duties and a minimal impact on City Council priorities.

SUGGESTED...

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