HomeMy WebLinkAbout042 - 04/02/2024 - Appropriating Prior Year Reserves in the General Fund for Cultural Development and Programming ActivORDINANCE NO.042,2024
OF THE COUNCIL OF THE CITY OF FORT COLLINS
APPROPRIATING PRIOR YEAR RESERVES IN THE GENERAL
FUND FOR CULTURAL DEVELOPMENT AND PROGRAMMING
ACTIVITIES,TOURISM PROGRAMMING AND CONVENTION
AND VISITOR PROGRAM SERVICES
A.Section 25-244 of the Code of the City of Fort Collins requires allocation of
lodging tax revenue as follows:75%for the promotion of convention and visitor activities
and 25%for cultural development and programming activities.
B.Lodging Tax revenue was estimated at $1,900,000 for 2023 and
appropriated;however,actual Lodging Tax receipts were greater than projected.
C.At the end of 2023,a total of $2,460,178 in Lodging Tax revenues had been
collected and the unspent portions lapsed into the General Fund Reserves for Lodging
Tax programs and activities.
D.Unanticipated Lodging Tax revenue in the amount of $560,178 held in the
General Fund Reserves is to be appropriated for each of the Lodging Tax programs and
activities as follows:
•Cultural Development and Programming $140,044
•Tourism Programming $28,009
•Fort Collins Convention and Visitors Bureau $392,125
E.These additional funds will help support a future Fort Fund grant process.
F.This appropriation benefits public health,safety and welfare of the citizens
of Fort Collins and serves the public purpose of promoting visitor activity and cultural
development and programming activities.
G.Article V,Section 9 of the City Charter permits the City Council,upon the
recommendation of the City Manager,to make supplemental appropriations by ordinance
at any time during the fiscal year from such revenues and funds for expenditure as may
be available from reserves accumulated in prior years,notwithstanding that such reserves
were not previously appropriated.
H.The City Manager has recommended the appropriation described herein
and determined that this appropriation is available and previously unappropriated from
the General Fund and will not cause the total amount appropriated in the General Fund
to exceed the current estimate of actual and anticipated revenues and all other funds to
be received in this Fund during this fiscal year.
The City wishes to appropriate funds allocated for Cultural Development
and Programming and Tourism Programming.
In light of the foregoing recitals,which the Council hereby makes and adopts as
determinations and findings,BE IT ORDAINED BY THE COUNCIL OF THE CITY OF
FORT COLLINS as follows:
Section 1.There is hereby appropriated from prior year reserves in the General
Fund the sum of ONE HUNDRED FORTY THOUSAND FORTY-FOUR DOLLARS
($140,044)to be expended in the General Fund for Cultural Development and
Programming activities.
Section 2.There is hereby appropriated from prior year reserves in the General
Fund the sum of TWENTY-EIGHT THOUSAND NINE DOLLARS ($28,009)to be
expended in the General Fund for the Tourism Programming.
Section 3.There is hereby appropriated from prior year reserves in the General
Fund the sum of THREE HUNDRED NINETY-TWO THOUSAND ONE HUNDRED
TWENTY-FIVE DOLLARS ($392,125)to be expended in the General Fund for the
Convention and Visitors Bureau.
Introduced,considered favorably on first reading on the March 19,2024,and
approved on second reading for final passage on the April 2,2024.
‘Li
ATTEST:F
Chief Deputy City Clerk
Effective Date:April 12,2024
Approving Attorney:Jenny Lopez Filkins