HomeMy WebLinkAbout095 - 07/18/1989 - APPROPRIATING PRIOR YEAR RESERVES IN THE GENERAL FUND (LODGING TAX FUNDS) ORDINANCE NO. 95 , 1989
OF THE COUNCIL OF THE CITY OF FORT COLLINS
APPROPRIATING PRIOR YEAR RESERVES
IN THE GENERAL FUND
WHEREAS, Article V, Section 8, of the Charter of the City of Fort
Collins authorizes the City Council to provide by ordinance for payment of
any expense from prior year reserves at any time such reserves are
available; and
WHEREAS, in 1988, the City received lodging taxes of $13,879 in excess
of the original estimate; and
WHEREAS, in accordance with Ordinance No. 32, 1987, these funds are to
be allocated as follows: 70% for the promotion of convention and visitor
activities, 20% for cultural development and programming activities, and
10% for maintenance, mitigation and improvement expenses; and
WHEREAS, the Cultural Development and Programming Account had funds
from prior years allocations in the amount of $27,441 which were not spent
in 1988 and should be made available to it in 1989; and
WHEREAS, the Maintenance and Mitigation Account had funds from prior
years allocations in the amount of $44,208 which were not spent in 1988 and
should be made available to it in 1989; and
WHEREAS, at the end of 1988 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 $85,528 to be allocated as
follows:
1988 Additional 1988
Lodging Tax Carry-Over
Convention and Visitor's Bureau b 9,715 -0-
Cultural Development and Programming Account 2,776 $27,441
Maintenance and Mitigation Account 1,388 44,208
SUBTOTALS $13,879 $71,649
COMBINED TOTAL $85,528
Introduced, considered favorably on first reading, and ordered
published this 20th day of June, A.D. 1989, and-to be presented for final
passage on the 18th day of July, A.D. 1989. n,
Nyor
ATTEST:
City Clerk
Passed and adopted on final reading this 1 h day ofruly, A.D. 1989.
Mayor
A ,S�
City Clerk