HomeMy WebLinkAbout075 - 06/06/2006 - APPROPRIATING PRIOR YEAR RESERVES IN THE GENERAL FUND FOR CULTURAL DEVELOPMENT AND PROGRAMMING ACTIV ORDINANCE NO. 075, 2006
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 activities and
25% for cultural development and programming activities; and
WHEREAS, in 2005 the City received lodging taxes in the amount of$75,377 in excess of
the original estimate for 2005 lodging tax receipts; and
WHEREAS, the excess lodging taxes should be distributed in the following amounts to the
following accounts:
• Cultural Development and Programming account $ 18,801
• Visitor Events account $ (373)
• Convention and Visitor's Bureau account $ 56,949
and
WHEREAS,the Cultural Development and Programming Account had prior year funds in the
amount of$51,603 that were not expended in 2005; and
WHEREAS,the Visitor Events Account had funds from prior years in the amount of$11,999
that were not expended in 2005; and
WHEREAS, at the end of 2005, all of the above lodging s tax fund lapsed into the General
P
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 City wishes to appropriate all funds allocated for cultural development and
programming, visitor events, and the Convention and Visitors 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 SEVENTY THOUSAND FOUR HUNDRED AND FOUR
DOLLARS ($70,404) for Cultural Development and Programming for the purposes of cultural
development and programming activities.
I
Section 2. That there is hereby appropriated for expenditure from prior year reserves in
the General Fund the total sum of ELEVEN THOUSAND SIX HUNDRED TWENTY-SIX
DOLLARS ($11,626) for Visitor Events for the promotion of convention and visitor activities.
Section 3. That there is hereby appropriated for expenditure from prior year reserves in
the General Fund the total sum of FIFTY-SIX THOUSAND NINE HUNDRED FORTY-NINE
DOLLARS ($56,949) for the Convention and Visitors Bureau for the promotion of convention and
visitor activities.
Introduced,considered favorably on first reading,and ordered published this 16th day of May,
A.D. 2006, and to be presented for final passage on the 6th of June, A.D. 2006.
Mayor
ATTEST:
/�i 1,1.as
City Clerk 4�
Passed and adopted on final reading this 6th day of June, A.D. 2006.
Mayor
A EST:
City Clerk