HomeMy WebLinkAboutCOUNCIL - AGENDA ITEM - 06/06/2006 - SECOND READING OF ORDINANCE NO. 075, 2006, APPROPR ITEM NUMBER: 7
AGENDA ITEM SUMMARY DATE: June 6, 2006
FORT COLLINS CITY COUNCIL STAFF: Kelly DiMartino
Bev Gast
SUBJECT
Second Reading of Ordinance No. 075, 2006, Appropriating Prior Year Reserves in the General
Fund for Cultural Development and Programming Activities and the Fort Collins Convention and
Visitor's Bureau.
RECOMMENDATION
Staff recommends adoption of the Ordinance on Second Reading.
EXECUTIVE SUMMARY
This Ordinance,unanimously adopted on First Reading on May 16,2006, appropriates lodging tax
revenues that were in excess of 2005 budgeted lodging tax receipts to Cultural Development and
Programming("CDP"),Visitor Events,and the Convention and Visitors Bureau("CVB")accounts.
Lodging tax revenue for 2005 was estimated to be $593,122 and the 2006 budget appropriated an
equal amount. However,actual receipts totaled$668,499 for 2005 and the difference of$75,377 has
not been appropriated.
ITEM NUMBER: 10
AGENDA ITEM SUMMARY DATE: May 16, 2006
FORT COLLINS CITY COUNCIL
STAFF: Kelly DiMartino
Bev Gast
SUBJEC D `%T
T
First Reading of Ordinance No. 075, 2006,Appropriating Prior Year Reserves in the General Fund
for Cultural Development and Programming Activities and the Fort Collins Convention and
Visitor's Bureau.
RECOMMENDATION
Staff recommends adoption of the Ordinance on First Reading.
FINANCIAL IMPACT
This Ordinance appropriates $7 o G Lo 'ng Tax Reserves for Cultural
Development and Programmi ("CD Visit E n 'an Convention and Visitor's Bureau
from the following sources:
Visitor
CDP Events CVB Total
Unappropriated 2005 Lodging Tax Receipts $18,801 $ (373) $56,949 $75,377
Prior Years Unexpended Funds 51,603 11,999 0 63,602
Total Appropriated $70,404 $11,626 $56,949 $138,979
EXECUTIVE SUMMARY
This Ordinance appropriates lodging tax revenues that were in excess of 2005 budgeted lodging tax
receipts to Cultural Development and Programming("CDP'), Visitor Events, and the Convention
and Visitors Bureau("CVB")accounts. Lodging tax revenue for 2005 was estimated to be$593,122
and the 2006 budget appropriated an equal amount. However, actual receipts totaled $668,499 for
2005 and the difference of$75,37_;Z 1 (�)
ri , ,BACKGROUND v . Y
Section 25-244 of the City Code requires that 75%of the total lodging tax receipts are to be used for
the promotion of convention and visitor activities and 25% for cultural development and
programming activities. The City's contract for services with the CVB makes a total payment of
$467,949 to CVB for 2006.
May 16, 2006 -2- Item No. 10
The suggested total 2006 allocation of surplus lodging tax receipts is as follows:
2006 Budeet 2005 Receipts Difference
CVB 100P$4 9 $56,949
Visitor Events 3 79 3 25 373
Total Visitor b_
Activities 75% $444,798 $501,374 $56,576
CDP - Cultural
Activities 25% $148,324 $167,125 $18,801
Total $593,122 $668,499 $75,377
The CDP and Visitor Events accounts each had funds from previous year lodging tax allocations
which were not used during 2005. The unexpended 2005 funds are: CDP - $51,603, and Visitor
Events - $11,999. These funds are in the General Fund reserves for lodging taxes and must be
appropriated into the respective CDP and Visitor Events accounts.
This Ordinance also appropriates the CDP and Visitor Events funds in the General Fund reserves for
lodging taxes to be used to support events that provide a public benefit to the Fort Collins community
and promote the utilization ofpuVese
in i ci . The City's Cultural Resources
Board reviews applications forand r m rations to the City Council.
"",
ORDINANCE NO. 075, 2006
OF THE COUNCIL OF THE CITY OF FORT COLLINS
APPROPRIATING PRIOR YEAR RESERVES IN THE GENERAL FUND
FOR CULTURAL DEVELOPMENT AND PROGRAMMING ACTIVITIES
AND THE CONVENTION AND VISITOR'S BUREAU
WHEREAS,Section 25-244 of the Code of the Cityof Fort Collins requires that lodging tax
revenue is to be allocated as follows: 75% for the promotion of convention and visitor activities and
25% for cultural development and programming activities; and
WHEREAS, in 2005 the City received lodging taxes in the amount of$75,377 in excess of
the original estimate for 2005 lodging tax receipts; and
WHEREAS, the excess lodging taxes should be distributed in the following amounts to the
following accounts:
Cultural Development and Programming account $ 18,801
• Visitor Events account $ (373)
Convention and Visitor's Bureau account $ 56,949
and
WHEREAS,the Cultural Development and Programming Account had prior year funds in the
amount of$51,603 that were not expended in 2005; and
WHEREAS,the Visitor Events Account had funds from prior years in the amount of$11,999
that were not expended in 2005; and
WHEREAS, at the end of 2005, all of the above lodging tax funds lapsed into the General
Fund Reserves for lodging taxes; and
WHEREAS, Article V, Section 9,of the Charter of the City of Fort Collins permits the City
Council to appropriate by ordinance at any time during the fiscal year such funds for expenditure as
may be available from reserves accumulated in prior years, notwithstanding that such reserves were
not previously appropriated; and
WHEREAS, the City wishes to appropriate all funds allocated for cultural development and
programming, visitor events, and the Convention and Visitors Bureau.
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT
COLLINS as follows:
Section L That there is hereby appropriated for expenditure from prior year reserves in
the General Fund the total sum of SEVENTY THOUSAND FOUR HUNDRED AND FOUR
DOLLARS ($70,404) for Cultural Development and Programming for the purposes of cultural
development and programming activities.
Section 2. That there is hereby appropriated for expenditure from prior year reserves in
the General Fund the total sum of ELEVEN THOUSAND SIX HUNDRED TWENTY-SIX
DOLLARS ($11,626) for Visitor Events for the promotion of convention and visitor activities.
Section 3. That there is hereby appropriated for expenditure from prior year reserves in
the General Fund the total sum of FIFTY-SIX THOUSAND NINE HUNDRED FORTY-NINE
DOLLARS ($56,949) for the Convention and Visitors Bureau for the promotion of convention and
visitor activities.
Introduced,considered favorably on first reading,and ordered published this 16th dayof May,
A.D. 2006, and to be presented for final passage on the 6th of June, A.D. 2006.
Mayor
ATTEST:
A
City Clerk �(i/iitF u
Passed and adopted on final reading this 6th day of June, A.D. 2006.
Mayor
ATTEST:
City Clerk