HomeMy WebLinkAbout053 - 05/16/1995 - APPROPRIATING PRIOR YEAR RESERVES IN GENERAL FUND ORDINANCE NO. 53, 1995
OF THE COUNCIL OF THE CITY OF FORT COLLINS
APPROPRIATING 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, in 1994 the City received lodging taxes of$54,101 in excess of the original
estimate for 1994 lodging tax receipts; and
WHEREAS, in accordance with Ordinance No. 127, 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 had funds from
allocations in prior years in the amount of$6,535; and
WHEREAS, at the end of 1994, all of the above lodging tax funds lapsed into the General
Fund Reserves for lodging taxes.
NOW, THEREFORE, BE IT ORDAINED BY THE COUNCIL OF THE CITY OF FORT
COLLINS that,there is hereby appropriated for expenditure from prior year reserves in the General
Fund the total sum of SIXTY THOUSAND SIX HUNDRED THIRTY SIX DOLLARS ($60,636)
to be allocated as follows:
1994 Additional
Lodging Tax 1994 Reserves
Cultural Development and
Programming Account $13,525 $ 6,535
Fort Collins Convention and
Visitors Bureau 40,576 0
SU_RTOTAL_ $54,101_ $_6,535_
COMBINED TOTAL $60,636
Introduced,considered favorably on first reading,and ordered published this 2nd day of May
A.D. 1995, and to be presented for final passage on the 16th day ay'A.D. 1995.
ayor
ATTEST:
City Clerk
Passed and adopted on final reading this 16th day of May, A.D. 1995.
Mayor
ATTEST:
City Clerk