HomeMy WebLinkAbout066 - 05/21/2013 - APPROPRIATING PRIOR YEAR RESERVES AND UNANTICIPATED REVENUE IN THE GENERAL FUND FOR CULTURAL DEVELOP ORDINANCE NO. 066, 2013
OF THE COUNCIL OF THE CITY OF FORT COLLINS
APPROPRIATING PRIOR YEAR RESERVES AND UNANTICIPATED
REVENUE IN THE GENERAL FUND FOR CULTURAL DEVELOPMENT
AND PROGRAMMING ACTIVITIES, TOURISM PROGRAMMING, AND THE FORT
COLLINS CONVENTION AND VISITORS BUREAU
WHEREAS, Section 25-244 of the City Code 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, at the end of 2012, a total of$1,011,840 in lodging tax revenues was collected
and lapsed into the General Fund Reserves for lodging tax programs and activities; and
WHEREAS, prior year reserves and unanticipated revenue in the amount of$139,465 is to
be appropriated for each of the lodging tax programs and activities as follows; and
Cultural Development and Programming $ 57,571
• Tourism Programming $ 9,842
• Fort Collins Convention and Visitors Bureau $ 72,052
WHEREAS,Article V, Section 9 ofthe City Charter 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, Article V, Section 9 of the City Charter permits the City Council to make
supplemental appropriation 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, does not exceed the current estimate of actual and anticipated revenues to be
received during the fiscal year; and
WHEREAS, City staff has determined that the appropriation of the revenue as described
herein will not cause the total amount appropriated in the General Fund to exceed the current
estimate of actual and anticipated revenues to be received in that fund during any fiscal year; and
WHEREAS,the City wishes to appropriate all funds allocated for Cultural Development and
Programming, Tourism Programming, and the Fort Collins 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 FIFTY SEVEN THOUSAND FIVE HUNDRED SEVENTY ONE
DOLLARS ($57,571) for Cultural Development and Programming activities.
Section 2. That there is hereby appropriated for expenditure from prior year reserves in
the General Fund the total sum of NINE THOUSAND EIGHT HUNDRED FORTY TWO
DOLLARS ($9,842) for the Tourism Programming.
Section 3. That there is hereby appropriated for expenditure from prior year reserves in
the General Fund the total sum of SEVENTY THOUSAND FIFTY TWO DOLLARS ($72,052)for
the Fort Collins Conventions and Visitors Bureau.
Introduced,considered favorably on first reading,and ordered published this 7th day of May,
A.D. 2013, and to be presented for final passage on the 21 st day of May, A.D. 2013.
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City Clerk re- 'r,
Passed and adopted on final reading on the 21 st day of May, A.D. 2013.
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