HomeMy WebLinkAbout092 - 09/01/2015 - APPROPRIATING PRIOR YEAR RESERVES AND UNANTICIPATED REVENUE IN THE GENERAL FUND FOR CULTURAL DEVELOP ORDINANCE NO. 092, 2015
OF THE COUNCIL OF THE CITY OF FORT COLLINS
APPROPRIATING PRIOR YEAR RESERVES AND UNANTICIPATED
REVENUE IN THE GENERAL FUND FOR CULTURAL DEVELOPMENT
AND PROGRAMMING ACTIVITIES, TOURISM PROGRAMMING, AND THE FORT
COLLINS CONVENTION AND VISITORS 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, Lodging Taxes were estimated at $975,000 for 2014, this amount was
appropriated and all but $62,572, was spent in 2014; and
WHEREAS, at the end of 2014, a total of$1,304,612 in Lodging Tax revenues had been
collected and the unspent portions lapsed into the General Fund Reserves for Lodging Tax
programs and activities; and
WHEREAS, unanticipated Lodging Tax revenue in the amount of $329,612 held in the
General Fund Reserves is to be appropriated for each of the Lodging Tax programs and activities
as follows; and
• Cultural Development and Programming $ 82,403
• Tourism Programming $ 16,480
• Fort Collins Convention and Visitors Bureau $ 230,729
WHEREAS, unexpended 2014 appropriations of Lodging Tax revenue in the amount of
$62,572 have lapsed and were returned to the General Fund, and are to be appropriated for
Lodging Tax programs and activates based on the use specified when they were first
appropriated, as follows:
• Cultural Development and Programming $ 41,045
• Tourism Programming $ 21,527
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 appropriation 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
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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, Tourism Programming, and the Fort Collins 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 ONE HUNDRED TWENTY THREE THOUSAND FOUR
HUNDRED FORTY EIGHT DOLLARS ($123,448) for Cultural Development and
Programming activities.
Section 2. • That there is hereby appropriated for expenditure from prior year reserves
in the General Fund the total sum of THIRTY EIGHT THOUSAND SEVEN DOLLARS
($38,007) for the Tourism Programming.
Section 3. That there is hereby appropriated for expenditure from prior year reserves
in the General Fund the total sum of TWO HUNDRED THIRTY THOUSAND SEVEN
HUNDRED TWENTY NINE DOLLARS ($230,729) for the Fort Collins Conventions and
Visitors Bureau.
Introduced, considered favorably on first reading, and ordered published this 18th day of
August, A.D. 2015, and to be presented for final passage on the 1 st day of September, A.D.
2015.
C)�
Mayor
ATTEST: eoAT cot`
U°•5EA ?N
City Clerk coi0
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Passed and adopted on final reading on the 1st day of September, A.D. 2015.
`:ayor
ATTEST:
City Clerk
EcLPOO
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