Cerritos Center for Performing Arts Loses Lots of Money

Cerritos Center for Performing Arts Loses Lots of Money: $60.6 million between 2003 and 2011 "Though initially budgeted $17 million for the development, the final price tag came out to be over $60 million." The funding for the CCPA came from redevelopment agencies. (Wikipedia; image source attribution: AllyUnion)

Two California Public Records Act requests obtained the following information. The bottom line numbers show the CCPA is losing an average of $7.6 million per year (Revenue Under Expenditures After Overhead Costs). In eight years--July 1, 2003 to June 30, 2011--the total losses added up to over $60 million. See comments at 1:58 (one hour 58 minutes) in Special Meeting of City Council of the City of Cerritos Tuesday - June 18, 2013 video. Also see How public records act uncovered the truth: Letter of the day in the 6/26/2013 Daily News and the Cerritos Loses Money Facebook page.

By the way, what does the overhead line item--Legislative & Administrative Labor--represent? How is it that public employee expenses related to legislation have been charged to a performing arts center going back to 2003 and possibly longer?

Cerritos Center for the Performing Arts
Financial Report Data for the Twelve Months Ended (Fiscal Year)

Year End Total
Revenues
Total
Expenditures
Before
Overhead
Costs
Total
Overhead
Costs
Capital
Project
Costs
Revenue
Under
Expenditures
After OH Cost
Notes
6/30/2011 $5,064,620 $9,139,852 $2,656,795 $(6,732,027) (1)
6/30/2010 5,049,758 9,877,378 2,421058 (7,248,678) (1)
6/30/2009 5,664,598 10,355,833 2,432241 (7,123,476) (2)
6/30/2008 6,754,513 12,559,572 2,545390 (8,350,449) (2)
6/30/2007 6,762,362 11,979,583 2,539692 (7,756,913) (2)
6/30/2006 6,204,789 11,348,836 1,844275 909,908 (7,898,230) (2), (3)
6/30/2005 6,028,366 10,956,180 2,852075 (7,779,889) (2)
6/30/2004 5,734,038 11,764,075 1,665575 (7,695,612) (2)
Total (8 years): ($60,585,274)
Averages: $5,907,881 $10,997,664 $2,369,638 NA $(7,573,159)

Notes:
(1) based on budget data from March 15, 2013 California Public Records Act response from the Office of the City Clerk - City of Cerritos (562-916-1249; city_clerk@cerritos.us).
(2) based on budget data from previous CPRA response worksheets shown below.
(3) capital expenditures of $909,908 excluded from loss reported in budget document

cc: Mayor Bruce W. Barrows, Mayor Pro Tem Mark E. Pulido, Carol K. Chen, Joseph Cho, George Ray
2003-2005 CCPA losses
2005-2006 CCPA losses
2006-2007 CCPA losses
2007-2008 CCPA losses
2008-2009 CCPA losses
2009-2010 CCPA losses

The following documents are only for nine months.

2009-2010 CCPA losses
2010-2011 CCPA losses