HomeMy WebLinkAbout059 - 05/07/2019 - APPROPRIATING PRIOR YEAR RESERVES AND UNANTICIPATED REVENUE IN THE GENERAL FUND FOR CULTURAL DEVELOPORDINANCE NO. 059, 2019
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, TOURISM PROGRAMMING,
AND CONVENTION AND VISITOR PROGRAM SERVICES
WHEREAS, Section 25-244 of the Code of the City of 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,Lodging Tax revenue was estimated at$1,224,300 for 2018 and appropriated;
and
WHEREAS, at the end of 2018, a total of$1,793,694 in Lodging Tax revenues had been
collected and the unspent portions lapsed into the General Fund Reserves for Lodging Tax
programs and activities; and
WHEREAS, unanticipated Lodging Tax revenue in the amount of $569,394 held in the
General Fund Reserves is to be appropriated for each of the Lodging Tax programs and activities
as follows:
o Cultural Development and Programming 142,348
Tourism Programming 28,470
Fort Collins Convention and Visitors Bureau 398,576; and
WHEREAS, unexpended 2018 appropriations of Lodging Tax revenue in the amount of
98,532 have lapsed and were returned to the General Fund,and are to be appropriated for Lodging
Tax programs and activates based on the use specified when they were first appropriated, as
follows:
4 Cultural Development and Programming 98,444
Tourism Programming - 88; and
WHEREAS, the total additional 2019 appropriations are $667,926 to make the full
payment to the Fort Collins.Convention and Visitors Bureau under its agreement with the City and
the Fort Fund Cultural Development and Programming account; and
WHEREAS, the City Manager has recommended the appropriation described herein and
determined that this appropriation is available and previously unappropriated from the General
Fund and 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, 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
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available from reserves accumulated in prior years, notwithstanding that such reserves were not
previously appropriated; and
WHEREAS, this appropriation benefits public health, safety and welfare of the citizens of
Fort Collins and serves the public purpose of promoting visitor activity as well as cultural
development and programming activities; and
WHEREAS, the City wishes to appropriate funds allocated for Cultural Development and
Programming, Tourism Programming, and the Fort Collins Convention and Visitors Bureau.
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 for expenditure from prior year reserves
in the General Fund the total sum of TWO HUNDRED FORTY THOUSAND SEVEN
HUNDRED NINETY-TWO DOLLARS($240,792) for Cultural Development and Programming
activities.
Section 3. That there is hereby appropriated for expenditure from prior year reserves
in the General Fund the total sum of TWENTY-EIGHT THOUSAND FIVE HUNDRED FIFTY-
EIGHT DOLLARS ($28,558) for Tourism Programming..
Section 4. That there is hereby appropriated for expenditure from prior year reserves
in the General Fund the total sum of THREE HUNDRED NINETY-EIGHT THOUSAND FIVE
HUNDRED SEVENTY-SIX DOLLARS ($398,576) for the Fort Collins Convention and Visitors
Bureau.
Introduced, considered favorably on first reading; and ordered published this 16th day of
April, A.D. 2019, and to be presented for final passage on the 7th day of May, A.D. 2019.
Mayor
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Passed and adopted on final reading on the 7th day of May, A.D. 2019.
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