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HomeMy WebLinkAbout080 - 05/15/2001 - APPROPRIATING PRIOR YEAR RESERVES FOR PROMOTION OF CONVENTION AND VISITOR ACTIVITIES AND FOR CULTURA ORDINANCE NO. 80, 2001 OF THE COUNCIL OF THE CITY OF FORT COLLINS APPROPRIATING PRIOR YEAR RESERVES AND UNANTICIPATED REVENUE IN THE GENERAL FUND FOR PROMOTION OF CONVENTION AND VISITOR ACTIVITIES AND FOR CULTURAL DEVELOPMENT AND PROGRAMMING ACTIVITIES WHEREAS, in accordance with Section 25-244 of the City Code, 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, in 2000 the City received lodging taxes in the amount of$49,355 in excess of the original estimate for 2000 lodging tax receipts; and WHEREAS, in addition, the Cultural Development and Programming Account had appropriated funds from 2000 in the amount of$42,197 that were not expended in 2000; and WHEREAS, in addition, the Visitor Events Account had appropriated funds from 2000 in the amount of$9,479 that were not expended in 2000; and WHEREAS,in addition,the Tourism Capital Account had appropriated funds from 2000 in the amount of$1,088 that were not expended in 2000; and WHEREAS, at the end of 2000, all of the above lodging tax funds lapsed into the General Fund Reserves for lodging taxes; and WHEREAS,Article V, Section 9,of the Charter of the City of Fort Collins permits the City Council to appropriate by ordinance at any time during the fiscal year such funds for expenditure as may be available from reserves accumulated in prior years,notwithstanding that such reserves were not previously appropriated; and WHEREAS,the Visitor Events Account has also received unanticipated revenue in 2001 in the amount of$500 that has not yet been appropriated in 2001; and WHEREAS, Article V, Section 9,of the Charter of the City of Fort Collins permits the City Council to make supplemental appropriations by ordinance at any time during the fiscal year, provided that the total amount of such supplemental appropriations,in combination with all previous appropriations for that fiscal year, do not exceed the then current estimate of actual and anticipated revenues to be received during the fiscal year; and WHEREAS, the City wishes to appropriate all funds allocated for the promotion of convention and visitor activities and for cultural development and programming and visitor events. 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 total sum of FIFTY-FOUR THOUSAND FIVE HUNDRED THIRTY-SIX DOLLARS ($54,536) for Cultural Development and Programming. Section 2. That there is hereby appropriated for expenditure from prior year reserves in the General Fund the total sum of NINETEEN THOUSAND TWO HUNDRED THIRTY-THREE DOLLARS ($18,733) for Visitor Events. Section 3. That there is hereby appropriated for expenditure from prior year reserves in the General Fund the total sum of TWENTY-EIGHT THOUSAND EIGHT HUNDRED FIFTY DOLLARS ($28,850) for Tourism Capital. Section 4. That there is hereby appropriated for expenditure from unanticipated revenue in the General Fund the sum of FIVE HUNDRED DOLLARS ($500) for Visitor Events. Introduced,considered favorably on first reading,and ordered published this I st day of May A.D. 2001, and to be presented for final passage on the 15th day of May,_X,D. 2001. Mayor ATTEST: UL City Clerk Passed and adopted on final reading this 15th day of May, A.D. 2001. Mayor f ATTEST: City Clerk