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NEXT STEPS Update Competitive Context <strong>Community</strong> Focus Groups Update Program Financial Model Development
SUMMARY OF MINUTES RESTON COMMUNITY CENTER BOARD OF GOVERNORS FINANCE COMMITTEE REPORT March 18, 2013 The Finance Committee met on Monday, March 18, 2013. Present were: • Cathy Vivona, Finance Committee Chair • Beverly Cosham, RCC Board Chair • Roger Lowen • Bill Penniman • Gerald Zavala Absent and Excused: • Bill Bouie Attending from the RCC Staff: • Leila Gordon, Executive Director • BeBe Nguyen, Media Director • Cristin Bratt, Public Information Officer • PD Michnewicz, Performing Arts Director • Eileen Boone, Leisure & Learning Director • Renata Wojcicki, Finance Director • Brian Gannon, Booking Manager • Pam Leary, Customer Service Manager • Joe Leary, Aquatics Director Cathy called the meeting to order at 6:37 p.m. Financial Review Cathy welcomed everyone and asked Leila to review the financials. Leila explained the financial data and comments. She said there were no anomalies in this month’s finances. She reminded the Board that revenue from interest on tax revenues is lagging behind our projection, as it has for the past few years. The only other item of note is that RCC started its Aquatics private lessons program and is earning money in that category. Revenue exceeds the cost of instruction for the program. She also reminded the Board that summer camp revenue is collected now and is then reversed at the end of the fiscal year so it can be applied to the year in which the program takes place. Cathy asked Leila to explain why Arts Education is over budget. Leila said that the goal is to have revenue exceed budget because that means RCC is earning more revenue than projected. Every number over 100 is a positive number on that page of the spreadsheet. Bill P. pointed out that the Leisure & Learning Adult numbers are low and asked if that is a normal number or just a sequence in the course of the year. Leila explained that the Fitness program was removed from that category, so the projections don’t yet reflect an actual year of experience with the current profile of the Adult offerings; we will adjust for upcoming years based on actual performance. Leila pointed out that under Personnel, the administration line provides for post-employment benefits related to retirement. This is typically underspent (or over-allocated) in order to accommodate any unanticipated benefit expenses. She also pointed out that in Youth and Arts Education, the numbers include payroll expenses from summer 2012 when staffing is highest for summer camps. Leila indicated that Operating Expenses are in line with projections. We are keeping close tabs on purchase orders that pay through the entire year and are then paid down. We want to keep vendors on track and we aim to carry over as little as possible in to the new fiscal year. These typically occur in the areas of Maintenance and Media. Media has a large reservation for the redesign of the website. We have - 1 -
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Reston Community Center Board of Go
Page 3 and 4: March 4, 2013 Board of Governors Me
Page 5 and 6: March 4, 2013 Board of Governors Me
Page 7 and 8: SUMMARY OF MINUTES RESTON COMMUNITY
Page 9 and 10: Facility Rentals: Leila explained t
Page 11 and 12: Roger added that when Reston was in
Page 13 and 14: Reston Community Center Joint Commu
Page 15 and 16: opportunities to improve the level
Page 17 and 18: Passes (Multiple Months; visit pric
Page 19 and 20: Total New Costs for Open Computer L
Page 21 and 22: Vienna Community Center Green Acres
Page 23 and 24: Family of 2 = $300.00 Family of 4 =
Page 25 and 26: Summary The next steps for the Boar
Page 27 and 28: TAX BASE AND REVENUES FORECASTS FOR
Page 29 and 30: 3. We then prepared forecasts of an
Page 31 and 32: GENERAL LIMITING CONDITIONS Reasona
Page 33 and 34: Exhibit 2 FORECASTED RESTON COMMUNI
Page 35 and 36: RESTON COMMUNITY CENTER PROJECT UPD
Page 37 and 38: PROJECT GOALS & OBJECTIVE Upda
Page 39 and 40: MARKET ANALYSIS Results of February
Page 41 and 42: MARKET ANALYSIS Demographic Analys
Page 43 and 44: K J O P I B F G N M H A D L E PUBLI
Page 45 and 46: PRELIMINARY MARKET ANALYSIS Privat
Page 48 and 49: PRELIMINARY MARKET ANALYSIS PUBLIC
Page 50 and 51: PRELIMINARY MARKET ANALYSIS PRIVATE
Page 52 and 53: FINANCIAL MODEL Develop realistic
Page 56 and 57: March 18, 2013 Board of Governors F
Page 58 and 59: March 18, 2013 Board of Governors F
Page 60 and 61: Reston Community Center Budget vs A
Page 66 and 67: Personnel Expenses: General Note: P
Page 68 and 69: Capital Project Expense 1. RCC Impr
Page 70 and 71: Fee Waiver Credits Used by Cost Cen
Page 72 and 73: Number of Households Using Fee Waiv
Page 74 and 75: Fee Waiver Credits Used, 2008-2013
Page 76 and 77: March 25, 2013 Long Range Planning
Page 88 and 89: SUMMARY OF MINUTES RESTON COMMUNITY
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Approved Materials - Reston Community Center

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