Close Menu
Fund Focus News
    Facebook X (Twitter) Instagram
    Trending
    • [Docomo Economic Zone Part 2] Investing in mutual funds with accumulated d-points|K|NISAを始めたい人と同じ目線で
    • Is ProFunds UltraEmerging Markets Investor (UUPIX) a Strong Mutual Fund Pick Right Now?
    • Contra funds hold up, see recovery potential – Money News
    • Debt mutual funds or FDs: Where should you invest your savings?
    • SIFs vs mutual funds: What the first-year data shows on returns and risk
    • Corgi Invest Launches 14 Fixed Income ETFs With Fees As Low As 0.02%
    • Bitcoin ETFs Bleed $636 Million as October Turns Red Again
    • Hedge Funds Are Shorting Stocks at Near-Record Levels
    Facebook X (Twitter) Instagram
    Fund Focus News
    • Home
    • Bonds
    • ETFs
    • Funds
    • Investments
    • Mutual Funds
    • Property Investments
    • SIP
    Fund Focus News
    Home»Funds»Auditor examines city’s shifting funding, expectations for Cultural Arts grants
    Funds

    Auditor examines city’s shifting funding, expectations for Cultural Arts grants

    October 30, 2024


    Wednesday, October 30, 2024 by Chad Swiatecki

    A recent report from the City Auditor highlights a recurring state of flux for Cultural Arts funding in recent years, which has fed into the ongoing debate over how the city manages those grant programs. The audit, which was requested by a group of five City Council members, also found conflicting messaging and intent with regard to a prior Council’s decision to remove arts and culture programs and funds from the larger Economic Development Department.

    The report looked at six questions concerning arts funding such as where the funds come from, how they can be spent, how the city structures an allocates awards and how comparable cities organize their culture and arts functions within city government.

    While grants from the Cultural Arts Division are typically funded by the city’s Hotel Occupancy Tax (HOT), those programs received unprecedented federal support during the pandemic. In 2021, Austin allocated $11.3 million in CARES Act funding, primarily benefiting nonprofits and creative sector workers. The following year, American Rescue Plan Act funds added $12 million, administered by third-party vendors like the Long Center for the Performing Arts and Better Business Bureau.

    The infusion of federal dollars allowed the city to shift from basing awards on HOT revenue projections to using actual previous HOT collections, marking a significant change from pre-pandemic practices that added stability and predictability to the process. Audit staff found administrative expenses – typically covering staff salaries, marketing and facility maintenance – ranged between 4.9 percent and 8.4 percent of total expenditures, with administrative duties handled by third parties totaling 4.5 percent of expenditures.

    The report found that data collection from grant applicants was inconsistent, raising concerns about tracking equity and inclusion in the arts.

    Grants to artists and local arts organizations became a hotly debated topic beginning in 2018 when a substantial increase in applicants led to substantial funding reductions for some recipients that had long relied on city funding. The fallout from that funding cycle led to a multiyear restructuring of how applicants were evaluated and what kinds of awards they were eligible to receive.

    The resulting trio of programs – Nexus, Elevate and Thrive – prioritized equity and groups that had been historically marginalized, with requirements for matching funds, fiscal sponsorship and evaluation of an organization’s existing budget removed from the process.

    The report also looked at the lack of progress on a recommendation dating back to at least 2008 to create a stand-alone Department of Arts, Culture and Creativity has yet to move forward. Included as part of the CreateAustin cultural planning process that began in 2006, city staff studied the feasibility of the stand-alone department in 2008, with Council endorsing the CreateAustin Cultural Master Plan in 2010.

    The report notes: “EDD staff said that the department has not received an explicit directive to create a separate new department of arts and culture. They noted that there have been many one-on-one discussions between EDD management and other key stakeholders including City Council offices, Arts Commission, and City Manager’s Office. Staff also said that EDD has previously asked City management if there is interest in moving arts and culture out of EDD, but the answer has always been ‘no.’”

    The report was initiated by a request from Mayor Pro Tem Leslie Pool and Council members Zo Qadri, Vanessa Fuentes, Ryan Alter and José Velásquez, with the goal of better understanding the city’s culture and arts funding process. It included no recommendations or next steps for staff or Council.

    In recent months the city has announced the recipients of $21 million in grants to musicians and artists from the Nexus, Thrive and Elevate programs, as well as the Live Music Fund. Audit staff chose to not look at music-related grant programs as part of assembling the report.

    Photo made available through a Creative Commons license.

    The Austin Monitor’s work is made possible by donations from the community. Though our reporting covers donors from time to time, we are careful to keep business and editorial efforts separate while maintaining transparency. A complete list of donors is available here, and our code of ethics is explained here.

    You’re a community leader

    And we’re honored you look to us for serious, in-depth news. You know a strong community needs local and dedicated watchdog reporting. We’re here for you and that won’t change. Now will you take the powerful next step and support our nonprofit news organization?





    Source link

    Share. Facebook Twitter Pinterest LinkedIn Tumblr Telegram Email

    Related Posts

    Contra funds hold up, see recovery potential – Money News

    October 23, 2026

    Hedge Funds Are Shorting Stocks at Near-Record Levels

    October 23, 2026

    US equity funds post inflows for a second straight week

    October 23, 2026
    Leave A Reply Cancel Reply

    Top Posts

    ETFs Are Net Sellers of Alphabet (GOOG) on Oct. 21

    October 23, 2026

    Are bonds safe again…? – Investors’ Chronicle

    October 23, 2026

    Contra funds hold up, see recovery potential – Money News

    October 23, 2026

    [Docomo Economic Zone Part 2] Investing in mutual funds with accumulated d-points|K|NISAを始めたい人と同じ目線で

    October 23, 2026
    Don't Miss
    Mutual Funds

    [Docomo Economic Zone Part 2] Investing in mutual funds with accumulated d-points|K|NISAを始めたい人と同じ目線で

    October 23, 2026

    *This article is based on information as of October 23, 2026.Since redemption rates and conditions…

    Is ProFunds UltraEmerging Markets Investor (UUPIX) a Strong Mutual Fund Pick Right Now?

    October 23, 2026

    Contra funds hold up, see recovery potential – Money News

    October 23, 2026

    Debt mutual funds or FDs: Where should you invest your savings?

    October 23, 2026
    Stay In Touch
    • Facebook
    • Twitter
    • Pinterest
    • Instagram
    • YouTube
    • Vimeo
    EDITOR'S PICK

    Have SIP investments and Rs 30 lakh for lumpsum? Here’s how to invest in mutual funds for long-term wealth creation

    April 21, 2026

    Are these 2 top Vanguard ETFs still worth buying today?

    August 30, 2026

    Afreximbank, ShafDB move to unlock $1bn in investments

    September 10, 2025
    Our Picks

    [Docomo Economic Zone Part 2] Investing in mutual funds with accumulated d-points|K|NISAを始めたい人と同じ目線で

    October 23, 2026

    Is ProFunds UltraEmerging Markets Investor (UUPIX) a Strong Mutual Fund Pick Right Now?

    October 23, 2026

    Contra funds hold up, see recovery potential – Money News

    October 23, 2026
    Most Popular

    🔥Juve target Chukwuemeka, Inter raise funds, Elmas bid in play 🤑

    August 20, 2025

    💵 Libra responds after Flamengo takes legal action and ‘freezes’ funds

    September 26, 2025

    🇮🇸 CPP Investments and Equinix complete atNorth acquisition to support growth of leading Nordic data center platform

    September 1, 2026
    © 2026 Fund Focus News
    • Get In Touch
    • Privacy Policy
    • Terms and Conditions

    Type above and press Enter to search. Press Esc to cancel.