HomeMy WebLinkAboutCOUNCIL - AGENDA ITEM - 04/05/2022 - FIRST READING OF ORDINANCE NO. 036, 2022, APPROPRIItem # 6 Page 1
AGENDA ITEM SUMMARY
Agenda Item 7
April 5, 2022
Finance Administration
STAFF
Nina Bodenhamer, City Give Director
Ted Hewitt, Legal
SUBJECT
First Reading of Ordinance No. 036, 2022, Appropriating Philanthropic Revenue Received Through City Give
for the Fort Collins Senior Center.
EXECUTIVE SUMMARY
The purpose of this item is to appropriate $50,672 in philanthropic revenue received through City Give for the
Senior Center, Recreation. The charitable revenue is a distribution from an endowed fun d held by the
Community Foundation of Northern Colorado for the sole benefit of the Senior Center, City of Fort Collins. The
current value of the endowment is $718,970. The fund’s earnings are distributed at the City’s request per the
terms of the fund’s governance.
STAFF RECOMMENDATION
Staff recommends adoption of the Ordinance on First Reading.
BACKGROUND / DISCUSSION
The Designated Fund was established in 1989 by passionate residents to provide ongoing, lasting support for
the Senior Center, City of Fort Collins. The endowment is held, managed, and invested by the Community
Foundation of Northern Colorado. Per typical endowment structure, the principal remains intact while
investment income is available for disbursements.
The current value of the designated endowment is $718,970. The fund’s earnings are distributed at the City’s
request per the terms of the fund’s governance.
The Senior Center will use the $50,672 in philanthropic revenue to purchase portable folding tables and
wheeled table carts in order to host community events. The Senior Center is the largest source of rental
revenue within the City’s Recreation facilities. The replacement purchase of portable, lightweight event tables
is an investment in this valuable revenue stream and will he lp maintain the safety and stamina of staff who set
up and tear down events.
Community organizations that rent space at the Senior Center, monthly or even weekly, include Kiwanis Club,
Vita Tax, Volunteers of America, the Audubon Society, Poudre Education Association, Alcoholics Anonymous,
and Temple Of Hadash. In addition to regularly scheduled rentals, spaces within the Senior Center are also
rented for baby showers, birthday parties, weddings, Homeowner Association (HOA) meetings, and large
dinners/fundraisers for organizations such as the Fort Collins Softball Club and the Boy Scouts.
CITY FINANCIAL IMPACTS
This Ordinance will appropriate $50,672 of unanticipated philanthropic revenue for the Senior Center,
Recreation Fund. The funds have been receiv ed and accepted per City Give Administrative and Financial
Policy.
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ORDINANCE NO. 036, 2022
OF THE COUNCIL OF THE CITY OF FORT COLLINS
APPROPRIATING PHILANTHROPIC REVENUE RECEIVED THROUGH CITY GIVE FOR
THE FORT COLLINS SENIOR CENTER
WHEREAS, the Fort Collins Senior Center (the “Senior Center”) provides rental space to
community organizations and individuals to host regular and special events; and
WHEREAS, in 1989 a Designated Endowment Fund was established at the Community
Foundation of Northern Colorado (the “Endowed Fund”) to provide funds for the benefit of the
Senior Center; and
WHEREAS, City Give has received a disbursement of $50,672 in revenue from the
Endowed Fund, and City staff is asking the City Council to appropriate such revenue to be spent
on the purchase of portable folding tables and wheeled table carts to facilitate the hosting of
community events at the Senior Center; and
WHEREAS, this appropriation benefits public health, safety and welfare of the citizens
of Fort Collins and serves the public purpose of providing equipment for a public recreation
facility; and
WHEREAS, Article V, Section 9 of the City Charter permits the City Council, upon
recommendation of the City Manager, to make a supplemental appropriation by ordinance at any
time during the fiscal year, provided that the total amount of such supplemental appropriation, in
combination with all previous appropriations for that fiscal year, do not exceed the current
estimate of actual and anticipated revenues and all other funds to be received during the fiscal
year; and
WHEREAS, the Interim City Manager has recommended the appropriation described
herein and determined that this appropriation is available and previously unappropriated from the
Recreation Fund and will not cause the total amount appropriated in the Recreation Fund to
exceed the current estimate of actual and anticipated revenues and all other funds to be received
in this Fund during this fiscal year.
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF
FORT COLLINS as follows:
Section 1. That the City Council hereby makes and adopts the determinations and
findings contained in the recitals set forth above.
Section 2. That there is hereby appropriated from new philanthropic revenue in the
Recreation Fund the sum of FIFTY THOUSAND SIX HUNDRED SEVENTY-TWO
DOLLARS ($50,672) for expenditure in the Recreation Fund for the purchase of portable folding
tables and wheeled table carts for use at the Senior Center.
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Introduced, considered favorably on first reading, and ordered published this 5th day of
April, A.D. 2022, and to be presented for final passage on the 19th day of April, A.D. 2022.
__________________________________
Mayor
ATTEST:
_______________________________
City Clerk
Passed and adopted on final reading on the 19th day of April, A.D. 2022.
__________________________________
Mayor
ATTEST:
_______________________________
City Clerk