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HomeMy WebLinkAbout065 - 07/02/1991 - APPROPRIATING PRIOR YEAR RESERVES AND UNANTICIPATED REVENUE IN THE GENERAL FUND FOR CULTURAL DEVELOP ORDINANCE NO. 65, 1991 OF THE COUNCIL OF THE CITY OF FORT COLLINS APPROPRIATING PRIOR YEAR RESERVES AND UNANTICIPATED REVENUE IN THE GENERAL FUND WHEREAS, Article V, Section 8, 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; and WHEREAS, Article V, Section 15, of the Charter of the City of Fort Collins permits the Council to transfer any unexpended appropriated amount from one fund to another provided the purpose for the initial expenditure no longer exists; and WHEREAS, in 1990, the City received lodging taxes of $5,945 in excess of the original estimate; and WHEREAS, in accordance with Ordinance 127, 1989, these funds are to be allocated as follows: 25% for cultural development and programming activities, and 75% for the promotion of convention and visitor activities; and WHEREAS, the Cultural Development and Programming Account had funds from prior year's allocations in the amount of $6,433 which were not spent in 1990 and should be made available to it in 1991 ; and WHEREAS, at the end of 1990 all the above lodging tax funds lapsed into the General Fund Reserves for lodging taxes; and WHEREAS, the City has received $4,000 from the Chamber of Commerce as reimbursement of Cultural Development Programming funds because the purpose of the funds was to help fund the New West Fest and the Chamber is no longer sponsoring the New West Fest; and WHEREAS, Nine Dollars in miscellaneous revenue has been received into the General Fund this year and should be appropriated into the Cultural Development Programming account. 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 sum of TWELVE THOUSAND THREE HUNDRED SEVENTY-EIGHT DOLLARS ($12,378) to be allocated as follows: 1990 Additional 1990 Lodging Tax Carry-Over Cultural Development and Programming Account $ 1,486 $ 6,433 Fort Collins Convention and Visitors Bureau 4,459 - 0 - SUBTOTALS $ 5,945 $ 6,433 COMBINED TOTAL $12,378 Section 2. That there is hereby appropriated from unanticipated revenue in the General Fund the sum of FOUR THOUSAND NINE DOLLARS ($4,009) for Cultural Development and Programming. Introduced, considered favorably on first reading, and ordered published this 4th day of June, A.D. 1991, and to be presented for final passage on the 2nd day of July, A.D. 1991 . - Ma r ATTEST: City Clerk Passed and adopted on final reading this nd day of July, A.D. 1991 . M yor ATTEST: 2_ City Clerk