HomeMy WebLinkAbout055 - 06/15/1993 - APPROPRIATING PRIOR YEAR RESERVES IN THE GENERAL FUND ORDINANCE NO. 55, 1993
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 1992 the City received lodging taxes of $17,688 in excess of
the original estimate for 1992 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 $6,872; and
WHEREAS, at the end of 1992, all of the above lodging tax funds lapsed into
the General Fund Reserve 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 TWENTY FOUR THOUSAND FIVE HUNDRED SIXTY DOLLARS
($24,560) to be allocated as follows:
1992 Additional
Lodging Tax 1992 Carry-Over
Cultural Development and
Programming Account $ 4,425 $ 6,872
Fart Collins Convention and
Visitors Bureau 13,263 0
SUB TOTALS $17,688 $ 6,872
COMBINED TOTAL $24,560
Introduced, considered favorable on first reading, and ordered published
this 1st day of June A.D. 1993, and to be presented for final assage on the 15th
day of June, A.D. 1993.
L-Kyo—r
ATTEST:
City Clerk
Passed and adopted on final reading this 15th day of June, A.D. 1993.
Mayor
ATTEST:
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City Clerk