AGENDA CAPTION:
Title
Consider approval of Ordinance 2019-23, on the first of two readings, amending the City’s 2018-2019 Fiscal Year budget to allocate a total amount not to exceed $261,462 from the Hotel Occupancy Tax (“HOT”) Fund to reinstate operational budgets that were reduced in the original 2018-2019 Fiscal Year budget due to initial forecasted hot collection amounts that were lower than actual collections; and providing an effective date.
Body
Meeting date: August 20, 2019
Department: Finance-Heather Hurlbert, Finance Director
Amount & Source of Funding
Funds Required: $
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Funds Available: Click or tap here to enter text.
Account Name:
Fiscal Note:
Prior Council Action: Budget Amendment was discussed in the June Budget Workshops
City Council Strategic Initiative: [Please select from the dropdown menu below]
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Comprehensive Plan Element (s): [Please select the Plan element(s) and Goal # from dropdown menu below]
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☐ Parks, Public Spaces & Facilities - Funding and staffing to ensure quality public safety and community services
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☒ Not Applicable
Master Plan: [Please select the corresponding Master Plan from the dropdown menu below (if applicable)]
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Background Information:
During the FY19 budget process, operating budgets for departments supported by Hotel Motel Tax revenues were reduced 15.5% due to lowered revenue projections. FY19 revenue collections have been greater than the budgeted amounts and as a result, there is capacity in the fund to reinstate the reduced operating expense budgets. The adjustment will reinstate $87,575 to the Tourism Programs budget, $24,228 to the Main Street Budget, and $149,659 to the Convention and Visitor’s Bureau budget.
Council Committee, Board/Commission Action:
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Alternatives:
Recommendation:
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