HomeMy WebLinkAbout056 - 05/21/1996 - APPROPRIATING PRIOR YEAR RESERVES FOR CULTURAL DEVELOPMENT AND PROGRAMMING ORDINANCE NO. 56, 1996
OF THE COUNCIL OF THE CITY OF FORT COLLINS
APPROPRIATING PRIOR YEAR RESERVES
IN THE GENERAL FUND
WHEREAS,the City wishes to appropriate all funds allocated for cultural development and
programming; and
WHEREAS, in 1995 the City received lodging taxes of $9,148 in excess of the original
estimate for 1995 lodging tax receipts; and
WHEREAS,the excess lodging tax receipts have not been appropriated in the 1996 budget;
and
WHEREAS,in accordance with Ordinance No. 127-89,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 excess lodging tax receipts allocated to cultural development and
programming are $2,287; and
WHEREAS, the Cultural Development and Programming Account had funds from
allocations in prior years in the additional amount of$13,118; and
WHEREAS, at the end of 1995, all of the above lodging tax funds lapsed into the General
Fund Reserves for lodging taxes; and
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.
NOW,THEREFORE,BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT
COLLINS that,there is hereby appropriated for expenditure from prior year reserves in the General
Fund the total sum of FIFTEEN THOUSAND FOUR HUNDRED FIVE DOLLARS ($15,405) for
Cultural Development and Programming.
Introduced,considered favorably on first reading, and ordered published this 7th day of May
A.D. 1996, and to be presented for final passage on the 21 st day of May, A.D. 1996.
Mayor
ATTEST:
City Clerk
Passed and adopted on final reading this 21st day of May,A.D. 096. �
Mayor
ATTEST:
Q
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