HomeMy WebLinkAboutCOUNCIL - AGENDA ITEM - 07/05/2011 - SECOND READING OF ORDINANCE NO. 065, 2011, APPROPRDATE: July 5, 2011
STAFF: Bev Gast
AGENDA ITEM SUMMARY
FORT COLLINS CITY COUNCIL 7
SUBJECT
Second Reading of Ordinance No. 065, 2011, Appropriating Prior Year Reserves and Unanticipated Revenue in the
General Fund for Cultural Development and Programming Activities and the Fort Collins Convention and Visitors
Bureau.
EXECUTIVE SUMMARY
This Ordinance, unanimously adopted on First Reading on June 7, 2011, appropriates unanticipated Cultural
Development and Programming (“CDP”) revenue and prior year reserves for the CDP accounts and prior year reserves
for the Convention and Visitors Bureau. Lodging tax revenues in 2010 were $22,252 short of revenue projections;
however, there are Lodging tax reserves from unspent appropriations in the amount of $113,066 available to be
appropriated in the General Fund. In addition, $2,800 of unanticipated CDP revenue was received in 2011 which will
be appropriated into the Cultural Development and Programming accounts.
STAFF RECOMMENDATION
Staff recommends adoption of the Ordinance on Second Reading.
ATTACHMENTS
1. Copy of First Reading Agenda Item Summary - June 7, 2011
(w/o attachments)
COPY
COPY
COPY
COPY
ATTACHMENT 1
DATE: June 7, 2011
STAFF: Bev Gast
AGENDA ITEM SUMMARY
FORT COLLINS CITY COUNCIL 11
SUBJECT
First Reading of Ordinance No. 065, 2011, Appropriating Prior Year Reserves and Unanticipated Revenue in the
General Fund for Cultural Development and Programming Activities and the Fort Collins Convention and Visitors
Bureau.
EXECUTIVE SUMMARY
This Ordinance appropriates unanticipated Cultural Development and Programming (“CDP”) revenue and prior year
reserves for the CDP accounts and prior year reserves for the Convention and Visitors Bureau. Lodging tax revenues
in 2010 were $22,252 short of revenue projections; however, there are Lodging tax reserves from unspent
appropriations in the amount of $113,066 available to be appropriated in the General Fund. In addition, $2,800 of
unanticipated CDP revenue was received in 2011 which will be appropriated into the Cultural Development and
Programming accounts.
BACKGROUND / DISCUSSION
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. Actual revenue
collected is appropriated based on this allocation formula and any excess revenue as well as budget savings are
reserved by these activities in the General Fund balance.
FINANCIAL / ECONOMIC IMPACTS
Visitor Events
CDP1 CDP2 CVB Total
General Fund Prior Year Reserves $65,585 $31,172 $16,309 $113,066
Unanticipated 2011 Revenue 2,800 0 0 2,800
Total to be Appropriated $68,385 $31,172 $16,309 $115,866
STAFF RECOMMENDATION
Staff recommends adoption of the Ordinance on First Reading.
BOARD / COMMISSION RECOMMENDATION
The City’s Cultural Resources Board reviews applications for these funds and makes recommendations to the City
Council. This fund support events that provide a public benefit to the Fort Collins community, and promotes the
utilization of public accommodations within the City.
ORDINANCE NO. 065, 2011
OF THE COUNCIL OF THE CITY OF FORT COLLINS
APPROPRIATING PRIOR YEAR RESERVES AND UNANTICIPATED
REVENUE IN THE GENERAL FUND FOR CULTURAL DEVELOPMENT
AND PROGRAMMING ACTIVITIES AND THE FORT COLLINS CONVENTION AND
VISITOR’S BUREAU
WHEREAS, Section 25-244 of the City Code 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, the Cultural Development and Programming (CDP1) account had prior year
funds in the amount of $65,585 that were not expended in 2010; and
WHEREAS, the Visitor Events (CDP2) account had funds from prior years in the amount
of $31,172 that were not expended in 2010; and
WHEREAS, the Convention and Visitor’s Bureau account had funds from prior years in the
amount of $16,309 that were not expended in 2010; and
WHEREAS, at the end of 2010, all of the lodging tax funds described above lapsed into the
General Fund Reserves for lodging taxes; and
WHEREAS, during 2011, unanticipated revenue of $2,800 has been collected for Cultural
Development and Programming Activities; and
WHEREAS, Article V, Section 9, of the City Charter 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, Article V, Section 9 of the City Charter permits the City Council to make
supplemental appropriations by ordinance at any time during the fiscal year, provided that the total
amount of such supplemental appropriations, in combination with all previous appropriations for
that fiscal year, does not exceed the current estimate of actual and anticipated revenues to be
received during the fiscal year: and
WHEREAS, City staff has determined that the appropriation of the revenue as described
herein will not cause the total amount appropriated in the General Fund to exceed the current
estimate of actual and anticipated revenues to be received in that fund during any fiscal year; and
WHEREAS, the City wishes to appropriate all funds allocated for Cultural Development and
Programming, Visitor Events and the Convention and Visitor’s Bureau.
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT
COLLINS as follows:
Section 1. That there is hereby appropriated for expenditure from prior year reserves in
the General Fund the total sum of SIXTY-FIVE THOUSAND FIVE HUNDRED EIGHTY-FIVE
DOLLARS ($65,585) for Cultural Development and Programming.
Section 2. That there is hereby appropriated for expenditure from prior year reserves in
the General Fund the total sum of THIRTY-ONE THOUSAND ONE HUNDRED SEVENTY-TWO
DOLLARS ($31,172) for Visitor Events.
Section 3. That there is hereby appropriated for expenditure from prior year reserves in
the General Fund the total sum of SIXTEEN THOUSAND THREE HUNDRED NINE DOLLARS
($16,309) for the Convention and Visitor’s Bureau.
Section 4. That there is hereby appropriated for expenditure from unanticipated revenue
in the General Fund the total sum of TWO THOUSAND EIGHT HUNDRED DOLLARS ($2,800)
for Cultural Development and Programming.
Introduced, considered favorably on first reading, and ordered published this 7th day of June,
A.D. 2011, and to be presented for final passage on the 5th day of July, A.D. 2011.
_________________________________
Mayor
ATTEST:
_____________________________
City Clerk
Passed and adopted on final reading on the 5th day of July, A.D. 2011.
_________________________________
Mayor
ATTEST:
_____________________________
City Clerk