HomeMy WebLinkAbout065 - 07/07/2009 - APPROPRIATING PRIOR YEAR RESERVES IN THE GENERAL FUND FOR CULTURAL DEVELOPMENT AND PROGRAMMING ACTIV ORDINANCE NO. 065, 2009
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 VISITORS BUREAU
WHEREAS,Section 25-244 of the City Code requires that lodging tax revenues 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,lodging taxes are appropriated based on an estimate
of lodging tax revenues and in 2008 lodging taxes exceeded the estimated amount by$87,227 (the
"Excess Lodging Tax"); and
WHEREAS, based upon the required allocation, the Excess Lodging Taxes should be
distributed in the following amounts to the following accounts:
• Cultural Development and Programming account $ 21,806
• Visitor Events account $ 4,361
• Convention and Visitors Bureau account $ 61,060
and
WHEREAS, in addition, the Cultural Development and Programming Account had funds
from prior years in the amount of$75,207 that were not expended in 2008; and
WHEREAS, also, the Visitor Events Account had funds from prior years in the amount of
$54,031 that were not expended in 2008; and
WHEREAS, at the end of 2008, all of the above lodging tax funds lapsed into the General
Fund Reserves for lodging taxes; and
WHEREAS,Article V,Section 9,of the City Charter 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 of the above-described funds to be allocated
for cultural development and programming,visitor events,and the Convention and Visitors 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 NINETY SEVEN THOUSAND THIRTEEN DOLLARS
($97,013) 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 FIFTY EIGHT THOUSAND THREE HUNDRED NINETY
TWO DOLLARS ($58,392) for Visitor Events.
Section 3. That there is hereby appropriated for expenditure from prior year reserves in
the General Fund the total sum of SIXTY ONE THOUSAND SIXTY DOLLARS($61,060)for the
Convention and Visitors Bureau.
Introduced, considered favorably on first reading, and ordered published this 2nd day of
June, A.D. 2009, and to be presented for final passage on the 7 ay of July, A.D. 2009.
Mayqo •
ATTEST:
� V �
City Clerk
Passed and adopted on final reading on the 7th day of July, A.D. 2009.
ayo
ATTEST:
01
City. ler