HomeMy WebLinkAbout053 - 06/07/2005 - APPROPRIATING PRIOR YEAR RESERVES IN THE GENERAL FUND FOR CULTURAL DEVELOPMENT AND PROGRAMMING ACTIV ORDINANCE NO. 053, 2005
OF THE COUNCIL OF THE CITY OF FORT COLLINS
APPROPRIATING PRIOR YEAR RESERVES IN THE GENERAL FUND
FOR CULTURAL DEVELOPMENT AND PROGRAMMING ACTIVITIES
AND TOURISM CAPITAL
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 2004 the City received lodging taxes in the amount of$27,543 in excess of
the original estimate for 2004 lodging tax receipts; and
WHEREAS, the excess lodging taxes should be distributed in the following amounts to the
following accounts:
• Cultural Development and Programming account $ 6,886
• Visitor Events account $11,337
• Tourism Capital account $ 9,320
and
WHEREAS, the Cultural Development and Programming Account had prior year funds in
the amount of$52,085 that were not expended in 2004; and
WHEREAS,the Visitor Events Account had funds from prior years in the amount of$11,546
that were not expended in 2004; and
WHEREAS, at the end of 2004, 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 City wishes to appropriate all funds allocated for cultural development and
programming, visitor events, and tourism capital.
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 ofFIFTY-EIGHT THOUSAND NINE HUNDRED SEVENTY-ONE
DOLLARS ($58,971) 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 TWENTY-TWO THOUSAND EIGHT HUNDRED EIGHTY-
THREE DOLLARS ($22,883) for Visitor Events.
Section 3. That there is hereby appropriated for expenditure from prior year reserves in
the General Fund the total sum of NINE THOUSAND THREE HUNDRED TWENTY DOLLARS
($9,320) for Tourism Capital.
Introduced, considered favorably on first reading, and ordered published this 17th day of
May, A.D. 2005, and to be presented for final passage o e 7th day of June, A.D. 2005.
Mayo
ATTEST:
11 k
City Clerk
Passed and adopted on final reading this 7th day June, A.D. 2005.
Ma o
ATTEST:
City Clerk ,