HomeMy WebLinkAbout092 - 06/02/1998 - APPROPRIATING PRIOR YEAR RESERVES AND UNANTICIPATED REVENUE IN THE GENERAL FUND ORDINANCE NO. 92, 1998
OF THE COUNCIL OF THE CITY OF FORT COLLINS
APPROPRIATING PRIOR YEAR RESERVES AND
UNANTICIPATED REVENUE IN THE GENERAL FUND
WHEREAS, in accordance with Section 25-244 of the City Code, 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 1997 the City received lodging taxes in the amount of$46,632 in excess of
the original estimate for 1997 lodging tax receipts; and
WHEREAS, in addition, the Cultural Development and Programming Account had
appropriated funds from 1997 in the amount of$9,574 that were not expended in 1997; and
WHEREAS, in addition, the Visitor Events Account had appropriated funds from 1997 in
the amount of$5,996 that were not expended in 1997; and
WHEREAS,the Cultural Development and Programming Account also received revenue in
1997 in the amount of$654 that was not appropriated or expended in 1997; and
WHEREAS, at the end of 1997, 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 Cultural Development and Programming Account has also received revenue
in 1998 in the amount of$500 that has not yet been appropriated in 1998; and
WHEREAS,Article V, Section 9,of the Charter of the City of Fort Collins 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,do not exceed the then current estimate of actual and anticipated
revenues to be received during the fiscal year; and
WHEREAS,the City wishes to appropriate all funds allocated for cultural development and
programming and visitor events.
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 TWENTY ONE THOUSAND EIGHT HUNDRED EIGHTY-SIX
DOLLARS ($21,886) 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 FOURTEEN THOUSAND SEVEN HUNDRED THIRTY-NINE
DOLLARS ($14,739) for Visitor Events.
Section 3. That there is hereby appropriated for expenditure from prior year reserves in the
General Fund the total sum of TWENTY SIX THOUSAND TWO HUNDRED THIRTY-ONE
DOLLARS ($26,231)for Tourism Capital.
Section 4. That there is hereby appropriated for expenditure from unanticipated revenue in
the General Fund the sum of FIVE HUNDRED DOLLARS ($500) for Cultural Development and
Programming.
Introduced,considered favorably on first reading,and ordere lished this 19th da y
A.D. 1998, and to be presented for final passage on the 2nd of Ju*, A.D. 1998 '
avor V
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ATTEST:
�u City Clerk
Passed and adopted on final reading this 2nd day of'Jih e, A. . 1998.�/�;}
Mayor
ATTEST:
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City Clerk