HomeMy WebLinkAbout065 - 06/05/2007 - APPROPRIATING PRIOR YEAR RESERVES IN THE GENERAL FUND FOR CULTURAL DEVELOPMENT AND PROGRAMMING ACTIV ORDINANCE NO. 065, 2007
OF THE COUNCIL OF THE CITY OF FORT COLLINS
APPROPRIATING PRIOR YEAR RESERVES IN THE GENERAL FUND
FOR CULTURAL DEVELOPMENT AND PROGRAMMING ACTIVITIES
AND THE CONVENTION AND VISITOR'S BUREAU
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 activit
ies and
25% for cultural development and programming activities; and
WHEREAS, the City estimates lodging taxes as part of the budget process and lodging tax
receipts exceeded the 2006 estimate by$231,065; and
WHEREAS, the excess lodging taxes should be allocated to the following accounts:
• Cultural Development and Programming account $ 59,427
• Visitor Events account $ 7,528
• Convention and Visitor's Bureau account $164,110
and
WHEREAS, the Cultural Development and Programming Account had prior year funds in
the amount of$46,884 that were not expended in 2006; and
WHEREAS,the Visitor Events Account had prior year funds in the amount of$12,262 that
were not expended in 2006; and
WHEREAS, at the end of 2006, 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
maybe available from reserves accumulated in prior years,notwithstanding that such reserves were
not previously appropriated; 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 ONE HUNDRED SIX THOUSAND THREE HUNDRED AND
ELEVEN DOLLARS ($106,311) 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 NINETEEN THOUSAND SEVEN HUNDRED NINETY
DOLLARS ($19,790) for Visitor Events.
Section 3. That there is hereby appropriated for expenditure from prior year reserves in
the General Fund the total sum ofONE HUNDRED SIXTY-FOUR THOUSAND ONE HUNDRED
TEN DOLLARS ($164,110) for the Convention and Visitor's Bureau.
Introduced, considered favorably on first reading, and ordered published this 15th day of
May, A.D. 2007, and to be presented for final pa4Mayr
th day of June, A.D. 2007.
ATTEST:
City Clerk
Passed and adopted on final reading this 54da , A.D. 2007.
TTEST:
City Clerk