1. Rose Bowl Operating Company FY 2018 Recommended Budget
Joint Finance Committee / Council Meeting
June 5, 2017

2. Mission Statement
The mission of the Rose Bowl Operating Company (RBOC) is to improve the quality of life in Pasadena by providing top quality entertainment and by generating revenue through the operation of a world-class stadium and a professional quality golf course complex.

3. Rose Bowl Operating Company
FY 2018 Revenues and Expenses
In thousands
Summary of Revenue & Expenditure by Fund
FY 2018 Recommended
Stadium
Revenue
$41,814
Expenses
Operating Expenses
28,135
Debt Service
12,995
Stadium Net Total
$683
Golf Course
$2,550
590
Golf Course Net Total
$1,960
Net Income Before Reserves for Future CIP (FY2019+)
$2,643
Reserves for Future CIP Funding (FY2019+)
Stadium – Capital Improvements Funding
$2,024
Golf Course – Capital Improvements Funding
556
Subtotal Reserves for Future CIP Funding (FY2019+)
$2,580
Total Net Income (After Designated for Future CIP)
$63

4. Rose Bowl Operating Company
FY 2018 Sources and Expenses
In thousands
FY 2018 Recommended
FY 2018 Funding Sources
Revenue
Stadium
$41,814
Gold Course
2,550
Total Operating Revenue
$44,364
FY 2018 Expenses
Expenses
$28,135
Golf Course
590
Total Operating Expenses
$28,725
Debt Service & Bond Reserve Requirement
12,995
Reserves for Future CIP Funding (FY2019+)
2,580
Total Expenses / Appropriations
$44,301
Current year Capital (from prior year reserve
$1,856
Total Appropriation
$46,157

5. Rose Bowl Operating Company
Budget History By Division or Major Budget Area in thousands
FY 2016 Actuals
FY 2017 Adopted
FY 2017 Revised
FY 2018 Recommended
Stadium
Revenue
$43,458
$39,036
$42,708
$41,814
Expenses
Operating Expenses
$29,069
$20,634
$25,194
$28,135
Debt Services
12,768
12,816
12,767
12,995
Stadium Net-Total
$1,621
$5,586
$4,748
$683
Golf Course
$2,695
$2,676
$2,592
$2,550
574
561
572
590
Golf Course Net-Total
$2,121
$2,114
$2,019
$1,960
TotalNet Income Before Reserves for Future CIP (FY 2019+)
$3,742
$7,700
$6,767
$2,643
Reserves for Future CIP Funding (FY2019+)
Stadium – Capital Improvements Funding
$2,026
$5,326
$2,024
Golf Course – Capital Improvements Funding
589
586
571
556
Subtotal Reserves for Future CIP Funding (FY2019+)
$2,614
$5,912
$5,897
$2,580
Total Net Income (After Designated for future CIP)
$1,128
$1,788
$870
$63

6. Rose Bowl Operating Company
FY 2018 Revenues and Expenses
In thousands
FY 2017
Revised
FY 2018 Recommended
RBOC Net Income
Stadium
($578)
($1,341)
Golf
1,448
1,404
Combined
$870
$63
RBOC Net Income decrease in FY 2018
($807)
Significant Changes (year to year)
Legacy Connection contribution increase
$400
Net Event Income decrease
($640)
Bond Debt service expense increase
($228)
General & Admin expense increase (2% CPI)
($200)
Personnel and Salaries expense increase
(2% CPI and 2 new FTEs)
($172)

7. Rose Bowl Operating Company
FY 2018 Revenues and Expenses
In thousands
FY 2017
Revised
FY 2018 Recommended
Major Displacement Events 16 15
Net Event Income (By Tenant)
Tournament of Roses
$4,215
$3,959
UCLA
4,953
4,768
Flea Market
1,125
1,129
Arroyo Seco Weekend
2,104
2,581
Major Tenant Sub-total
$12,397
$12,437
Other Major Events:
2,483
1,904
Other Minor Events:
816
853
July 4th -America-fest* 74
(64)
Net Income Total:
$15,770
$15,130
-4%
Net Event Income decrease in FY18
(from FY17)
($640)
*changes due to mid-week event

8. Rose Bowl Operating Company
FY 2018 Key Issues and Strategies
Key Issues
Strategies
Execution of Arroyo Seco Weekend Events (June 2018)
Maintain & grow Premium Seating revenue
Attain substantial completion of “Renovation Project”
Continue to grow minor events revenues.
Begin planning with AEG and City in Summer 2017 and keep stakeholders informed on a regular basis
Target marketing, leverage new events and contract extensions
Have architect sign-off on work completed and financial close-out
Target annual clients and push to $1M net minor events revenues.

9. Rose Bowl Operating Company
FY 2018 Key Issues and Strategies
Strategies (continued)
Key Issues (continued)
Work and communicate closely with public safety officials, event promoters and stakeholders
Strive to have long-term agreements for key events, sponsorship and premium seating agreements
Identify a conceptual vision and funding plan for both the golf course & clubhouse.
Communicate potential future plans particularly related with Brookside Golf Course facilities.
Continued focus on event operations, including security and outside management
Prepare for new stadium competition
Development of conceptual plan for Brookside Golf Course and Clubhouse
Work Collaboratively with the Arroyo Advisory Group.