HomeMy WebLinkAbout073 - 06/07/1994 - APPROPRIATING UNANTICIPATED REVENUE AND PRIOR YEAR RESERVES IN THE GENERAL FUND ORDINANCE NO. 73, 1994
OF THE COUNCIL OF THE CITY OF FORT COLLINS
APPROPRIATING UNANTICIPATED REVENUE
AND PRIOR YEAR RESERVES IN THE GENERAL FUND
WHEREAS, Article V, Section 7, of the Charter of the City of Fort Collins
authorizes the City Council to provide by ordinance for payment of any expense
from reserves accumulated in prior years, notwithstanding that such reserves were
not appropriated for expenditure in the annual appropriation ordinance; and
WHEREAS, Article V, Section 14, of the Charter of the City of Fort Collins
permits the City Council to appropriate by ordinance unanticipated revenue which
is the result of rate or fee increases or new revenue sources at any time during
the year in which such revenue is received; and
WHEREAS, in 1993, the City received lodging taxes of $22,164 in excess of
the original estimate for 1993 lodging tax receipts; and
WHEREAS, in accordance with Ordinance No. 172, 1989, 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 Account has funds from
allocations in prior years in the amount of $11,727; and
WHEREAS, at the end of 1993, all of the above lodging tax funds lapsed into
the General Fund Reserves for lodging taxes; and
WHEREAS, the Cultural Development and Programming Account received funds
in the amount of $500 during 1994.
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT COLLINS:
Section 1 . That there is hereby_ appropriated for expenditure from prior
year reserves in the General Fund the total sum of THIRTY-THREE THOUSAND EIGHT
HUNDRED NINETY-ONE DOLLARS ($33,891) to be allocated as follows:
1993 Additional
Lodging Tax 1993 Reserves
Cultural Development and
Programming Account $ 5,541 $11,727
Fort Collins Convention and
Visitors Bureau 16,623 0
SUB TOTAL $22, 164 $11,727
COMBINED TOTAL $33,891
Section 2. That there is hereby appropriated from unanticipated revenue
in the General Fund the sum of FIVE HUNDRED DOLLARS ($500) for expenditure in the
General Fund for Cultural Development and Programming.
Introduced, considered favorably on first readin and ordered published
this 17th day of May, A.D. 1994, and to be presente r f7 al passa he 7th
day of June, A.D. 1994.
xt
Mayor
ATTEST:
� . 'ca
City Clerk ^`
Passed and adopted on final reading this day of June, 94.
or
ATTEST:
City Clerk