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HomeMy WebLinkAbout073 - 06/07/1994 - APPROPRIATING UNANTICIPATED REVENUE AND PRIOR YEAR RESERVES IN THE GENERAL FUND ORDINANCE NO. 73, 1994 OF THE COUNCIL OF THE CITY OF FORT COLLINS APPROPRIATING UNANTICIPATED REVENUE AND PRIOR YEAR RESERVES IN THE GENERAL FUND WHEREAS, Article V, Section 7, 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 14, of the Charter of the City of Fort Collins permits the City Council to appropriate by ordinance unanticipated revenue which is the result of rate or fee increases or new revenue sources at any time during the year in which such revenue is received; and WHEREAS, in 1993, the City received lodging taxes of $22,164 in excess of the original estimate for 1993 lodging tax receipts; and WHEREAS, in accordance with Ordinance No. 172, 1989, 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, the Cultural Development and Programming Account has funds from allocations in prior years in the amount of $11,727; and WHEREAS, at the end of 1993, all of the above lodging tax funds lapsed into the General Fund Reserves for lodging taxes; and WHEREAS, the Cultural Development and Programming Account received funds in the amount of $500 during 1994. NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT COLLINS: Section 1 . That there is hereby_ appropriated for expenditure from prior year reserves in the General Fund the total sum of THIRTY-THREE THOUSAND EIGHT HUNDRED NINETY-ONE DOLLARS ($33,891) to be allocated as follows: 1993 Additional Lodging Tax 1993 Reserves Cultural Development and Programming Account $ 5,541 $11,727 Fort Collins Convention and Visitors Bureau 16,623 0 SUB TOTAL $22, 164 $11,727 COMBINED TOTAL $33,891 Section 2. That there is hereby appropriated from unanticipated revenue in the General Fund the sum of FIVE HUNDRED DOLLARS ($500) for expenditure in the General Fund for Cultural Development and Programming. Introduced, considered favorably on first readin and ordered published this 17th day of May, A.D. 1994, and to be presente r f7 al passa he 7th day of June, A.D. 1994. xt Mayor ATTEST: � . 'ca City Clerk ^` Passed and adopted on final reading this day of June, 94. or ATTEST: City Clerk