HomeMy WebLinkAbout065 - 07/05/2011 - APPROPRIATING PRIOR YEAR RESERVES AND UNANTICIPATED REVENUE IN THE GENERAL FUND FOR CULTURAL DEVELOP ORDNANCE NO. 065, 2011
OF THE COUNCIL OF THE CITY OF FORT COLLINS
APPROPRIATING PRIOR YEAR RESERVES AND UNANTICIPATED
REVENUE N THE GENERAL FUND FOR CULTURAL DEVELOPMENT
AND PROGRAMMNG ACTIVITIES AND THE FORT COLLINS CONVENTION AND
VISITOR'S BUREAU
WHEREAS, Section 25-244 of the City Code 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, the Cultural Development and Programming (CDPI) account had prior year
funds in the amount of$65,585 that were not expended in 2010; and
WHEREAS, the Visitor Events (CDP2) account had funds from prior years in the amount
of$31,172 that were not expended in 2010; and
WHEREAS,the Convention and Visitor's Bureau account had funds from prior years in the
amount of$16,309 that were not expended in 2010; and
WHEREAS, at the end of 2010,all of the lodging tax funds described above lapsed into the
General Fund Reserves for lodging taxes; and
WHEREAS, during 2011, unanticipated revenue of$2,800 has been collected for Cultural
Development and Programming Activities; 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, Article V, Section 9 of the City Charter 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, does not exceed the current estimate of actual and anticipated revenues to be
received during the fiscal year: and
WHEREAS, City staff has determined that the appropriation of the revenue as described
herein will not cause the total amount appropriated in the General Fund to exceed the current
estimate of actual and anticipated revenues to be received in that fund during any fiscal year; 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 SIXTY-FIVE THOUSAND FIVE HUNDRED EIGHTY-FIVE
DOLLARS ($65,585) 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 THIRTY-ONE THOUSAND ONE HUNDRED SEVENTY-TWO
DOLLARS ($31,172) for Visitor Events.
Section 3. That there is hereby appropriated for expenditure from prior year reserves in
the General Fund the total sum of SIXTEEN THOUSAND THREE HUNDRED NINE DOLLARS
($16,309) for the Convention and Visitor's Bureau.
Section 4. That there is hereby appropriated for expenditure from unanticipated revenue
in the General Fund the total sum of TWO THOUSAND EIGHT HUNDRED DOLLARS ($2,800)
for Cultural Development and Programming.
Introduced,considered favorably on first reading,and ordered published this 7th day of June,
A.D. 2011, and to be presented for final passage on the 5th day of July, A.D. 2011.
FORT.CO� May r
ATTEST: ••
s
City Clerk COLORP�
Passed and adopted on final reading on the 5th day of July, A.D. 2011.
yor
ATTEST: �OF FORT CO``
City Clerk •'
cOLORA�O