HomeMy WebLinkAbout059 - 07/01/2008 - APPROPRIATING PRIOR YEAR RESERVES IN THE GENERAL FUND FOR CULTURAL DEVELOPMENT AND PROGRAMMING ACTIV ORDINANCE NO. 059, 2008
OF THE COUNCIL OF THE CITY OF FORT COLLINS
APPROPRIATING PRIOR YEAR RESERVES IN THE GENERAL FUND
FOR CULTURAL DEVELOPMENT AND PROGRAMMING ACTIVITIES
AND THE FORT COLLINS CONVENTION AND VISITOR'S BUREAU
WHEREAS,Section 25-244 of the Code of the City of Fort Collins requires that 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,during the budget process the City estimates lodging taxes and in 2007 lodging
taxes exceeded the estimate by $106,173; and
WHEREAS,the excess lodging taxes should be distributed in the following amounts to the
following accounts:
• Cultural Development and Programming account $ 26,543
• Visitor Events account $ 5,309
• Convention and Visitor's Bureau account $ 74,321
and
WHEREAS, the Cultural Development and Programming Account had prior year funds in
the amount of$82,362 that were not expended in 2007; and
WHEREAS,the Visitor Events Account had funds from prior years in the amount of$35,742
that were not expended in 2007; and
WHEREAS, at the end of 2007, 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 the Convention and Visitor's Bureau.
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 ONE HUNDRED EIGHT THOUSAND NINE HUNDRED FIVE
DOLLARS ($108,905) 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 FORTY ONE THOUSAND FIFTY ONE DOLLARS ($41,051)
for Visitor Events.
Section 3. That there is hereby appropriated for expenditure from prior year reserves in
the General Fund the total sum of SEVENTY FOUR THOUSAND THREE HUNDRED TWENTY-
ONE DOLLARS ($74,321) for the Convention and Visitor's Bureau.
Introduced,considered favorably on first reading,and ordered published this 3rd day of June,
A.D. 2008, and to be presented for final passage on the 1 st da ly, A.D. 2008.
A
May
ATTEST:
City Clerk
Passed and adopted on final reading on the 1st day of Ju , .D. 2008.
May
ATTEST:
City Clerk