Page 319 - 2020-21 Budget Summary

SPECIAL PURPOSE FUND SCHEDULES
SCHEDULE 16
CONVENTION CENTER REVENUE FUND
Section 8.148 of the Los Angeles Administrative Code establishes the Convention Center Revenue Fund. All revenues derived from
the operation of the Convention Center shall be paid at the direction of the Executive Director of the Convention Center into either
accounts maintained by the private entity under contract with the City to manage, operate and maintain the Convention Center or into
the fund. Such funds may be used for the expense of operation, management, maintenance, and improvement of the Center.
Total
Actual Estimated Budget
2018-19 2019-20 2020-21
REVENUE
20,756,284 19,656,473 Cash Balance, July 1 17,915,473
Less:
- - CUSTDEPO1 Customer Deposits and Other Liabilities 28,698
- - LACCRESERVE1 LACC Private Operator Reserve 12,886,775
20,756,284 19,656,473 Balance Available, July 1 5,000,000
8,605,334 6,420,000 11,736 Convention Revenues 1,299,458
29,778,127 23,127,000 11,771.5 LACC Private Operator Receipts 27,888,265
59,139,745 49,203,473 Total Revenue 34,187,723

EXPENDITURES APPROPRIATIONS
919,761 1,327,000 205 Convention and Tourism Development 1,299,458
215 2,000 447 Information Technology Agency 2,796
2,183,439 - 839 Capital Finance Administration -
Special Purpose Fund Appropriations:
1,077,000 - 2,328 Convention Center Facility Reinvestment -
28,431,954 23,385,000 2,329 LACC Private Operator Account 26,375,281
5,000,000 5,000,000 2,330 LACC Private Operator Cash Flow 5,000,000
- - 2,331 LACC Private Operator Reserve 740,009
1,870,903 1,574,000 2,336 Reimbursement of General Fund Costs 770,179

39,483,272 31,288,000 Total Appropriations 34,187,723
19,656,473 17,915,473 Ending Balance, June 30 -

LACC Private Operator Reserve reflects the balance of the reserve account held by the private operator of the Los Angeles
Convention Center.
LACC Private Operator Receipts reflect operating revenue generated by the Los Angeles Convention Center (Convention Center),
which is collected and managed by the private operator in a private operating account, pursuant to the Management Agreement
between the City and the private operator.
LACC Private Operator Account reflects private account from which the private operator manages and spends revenue collected
from operating the Convention Center, pursuant to the Management Agreement.

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