HomeMy WebLinkAboutCOUNCIL - AGENDA ITEM - 06/01/1999 - SECOND READING OF ORDINANCE NO. 84, 1999, APPROPRI ITEM NUMBER: 10
AGENDA ITEM SUMMARY
DATE: June 1, 1999
FORT COLLINS CITY COUNCIL
STAFF: Bruno/Siever
SUBJECT:
Second Reading of Ordinance No. 84, 1999,Appropriating Prior Year Reserves and Unanticipated
Revenue in the General Fund for Promotion of Convention and Visitor Activities and for Cultural
Development and Programming Activities.
J
RECOMMENDATION:
Staff recommends adoption of the Ordinance on Second Reading.
EXECUTIVE SUMMARY:
Ordinance No. 84, 1999, which was unanimously adopted on First Reading on May 18, 1999,
appropriates 1998 lodging tax receipts dedicated to the Convention and Visitors Bureau, Cultural
Development and Programming(CDP),Visitor Events, and Tourism Capital.
AGENDA ITEM SUMMARY ITEM NUMBER: 21
DATE: May 18, 1999
FORT COLLINS CITY COUNCIL STAFF:
Bruno/Siever
SUBJECT:
First Reading of Ordinance No. 84, 1999, Appropriating Prior Year Reserves and Unanticipated
Revenue in the General Fund for Promotion of Convention and Visitor Activities and for Cultural
Development and Programming Activities.
RECOMMENDATION:
Staff recommends adoption of the Ordinance otFirst Beading. a.
EXECUTIVE SUMMARY:
FINANCIAL IMPACT:
This Ordinance appropriates $103, 75`fromle General Fund Lodging Tax Reserves and
unanticipated revenue for the Convention and Visitors Bureau, Cultural Development and
Programming (CDP), Visitor Events,.and Tourism Capital from the following sources:
Visitor
CVB CDP Events Capital Total
Unappropriated 1998 Lodging Tax Receipts $504 $17,281 $12,835 $38,504 $ 69,124
Unexpended 1998 Appropriations -- 21665 7,191 -- 29,856
1998 Unappropriated Revenue for CDP -- 2.295 -- 2,295
1999 Unappropriated Revenue for CDP 2.000 -- 2,000
Total Appropriated by this Ordinance $504 $4 141 $20,026 $38,504 $103,275
EXECUTIVE SUMMARY: '
This Ordinance appropriates 1998 lodging tax receipts dedicated to the Convention and Visitors
Bureau, Cultural Development and Programming(CDP),Visitor Events, and Tourism Capital. In
addition, it appropriates unexpended 1998 appropriations for CDP and visitor events, and revenue
received for CDP in 1998 and 1999 for use in the specified programs. The following information
explains each of these funding sources.
Lodging tax revenue for 1998 was estimated to be $459,671. while the actual receipts totaled
$528,797. The 1999 budget appropriated the estimated 1998 receipts of$459,673. The additional
1998 lodging tax receipts in the amount of$69,124 have not been appropriated. In accordance with
City Code Section 25-244, 75%of the total receipts are to be used for the promotion of convention
and visitor activities, and 25% for cultural development and programming (CDP) activities. In
DATE: May 18, 1999 2 ITEM NUMBER: 21
accordance with the City's contract for services with the Convention and Visitors Bureau(CVB)for
1996, the City's 1996 payment to CVB was set at $250,000, with annual increases at a rate not to )
exceed the prevailing rate of inflation as established by the Denver-Boulder Consumer Price Index.
The total 1999 allocation of funds is as follows:
1999 Budeet 1998 Receipts Difference
CVB $275,574 $276,078 $ 504
Tourism Capital 51,886 90,390 38,504
Visitor Events 17,295 30,130 12,835
Visitor 75% _`' $344,4755 _7` $396 .98 .* $51,843
CDP 25% $1,145918 13$ 2,199 17 281
Total E" $459,673 $528,797` $69,124
The Cultural Development and Programming (CDP) and Visitor Events funds are in the General
Fund reserves for lodging taxes and must be appropriated to be used to support events that provide
a public benefit to the Fort Collins community and promote the utilization of public accommodations
within the City. The City's Cultural Resources Board reviews applications for these funds and will
make recommendations to the City Council in June of this year.
The CDP and Visitor Events Account so had4unds-imm tie previous year's lodging tax
allocations which were appr pnatedrt n6t used � 4998. The unexpended 1998
appropriations for CDP are$2665,andljor Vis}ltorlEvents,$7,t1'91. These funds are in the General
Fund reserves for lodging taxes�and must`be approptated intotlie-CDP and Visitor Events accounts
to be used to promote cultural development and programming activities.
In addition, CDP received $2,295 in 1998 that was not appropriated during the year. These funds
were granted, but not used, and thus returned to CDP. The $2,295 was added to the Lodging Tax
reserves at the end of 1998. CDP has also received$2,000 in 1999 that was granted as reimbursable
funding and then paid back to CDP. The revenue received in 1999 was not included in the budget
and is unanticipated revenue. Both of these amounts must be appropriated into the CDP account to
be used to promote cultural development and-programmin activ es.