ADMINISTRATIVE REPORT

TO:

Vancouver City Council

FROM:

Directors of Finance and Office of Cultural Affairs

SUBJECT:

2003 Advance Grant Installments - Major Exhibiting Institutions & Vancouver City Planning Commission

 

RECOMMENDATIONS

GENERAL MANAGERS' COMMENTS

COUNCIL POLICY

Council's policy is to provide installments of operating grants to allow these organizations to meet their operating needs, in advance of consideration of their annual grant requests during the regular grant review process.

Approval of grant recommendations requires eight affirmative votes.

PURPOSE

The purpose of this report is to outline the amount of monthly or bi-weekly installments for each of the five major exhibiting institutions and the City Planning Commission.

BACKGROUND

In past years, the City has disbursed operating grants to the Vancouver Art Gallery Association, A.S.T.C. Science World Society, Vancouver City Planning Commission, Vancouver Museum Commission, Vancouver Maritime Museum Society and the H.R. Macmillan Space Centre Society in installments throughout the year to facilitate cash flow for these institutions, particularly in the first quarter of the year. Installments to the Vancouver Art Gallery Association, the A.S.T.C. Science World Society, and the Vancouver City Planning Commission are paid monthly, while the three other organizations are paid bi-weekly. In each case, the installments are timed to accommodate the operating cash flow requirements of the organizations.

DISCUSSION

This report recommends that installments be continued as in past years, with payments commencing in January 2003, in advance of Council's consideration of the 2003 operating grant requests. These installments allow for the organizations to manage their cash flow more
effectively, as many funding agencies do not issue 2003 grant funds until later in the year.

Operating grants are subject to Council approval and once the amount of the 2003 operating grant to each organization is approved, an adjustment is made ensure that the correct grant amount is disbursed. Consistent with previous years, staff recommend that installment levels for these six organizations be based on 2002 actual funding levels, so that any adjustments that may need to be made in 2003 to accommodate for inflation or budget reductions are minimal.

A summary of 2003 installments for these organizations is provided in Table 1.

Table 1: Schedule of Installments

Organization

2003 Installments

Vancouver Art Gallery Association

$ 157,625 monthly

A.S.T.C. Science World Society

$ 6,885 monthly

Vancouver City Planning Commission

$ 4,120 monthly

Vancouver Museum Commission

$ 25,058 bi-weekly

Vancouver Maritime Museum Society

$ 13,784 bi-weekly

H.R. Macmillan Space Centre Society

$ 17,598 bi-weekly

FINANCIAL IMPLICATIONS

Given that Council has not yet approved the 2003 operating grants to these organizations, staff note that these installments are based on 2002 approved funding levels. The reports on the allocations of the 2003 operating grants for each of these organizations will be submitted to Council at a later date, following a review of their 2002 operating performance and financial statements. As these advance installments are recommended at 2002 approved levels, staff anticipate that there will be sufficient time remaining to make any adjustments that may be required when Council approves the 2003 operating grants to these six organizations.

CONCLUSION

Staff recommend that the Vancouver Art Gallery Association, A.S.T.C. Science World Society, Vancouver City Planning Commission, Vancouver Museum Commission, Vancouver Maritime Museum Society and the H.R. Macmillan Space Centre Society continue to receive installments as outlined in Table 1 commencing in January 2003 to assist these organizations in meeting their operational requirements.

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ag20030114.htm

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© 2002 City of Vancouver