G-11-10-27-9D3 - 10/27/2011ORDINANCE NO. CO -04A — Gp3
AN ORDINANCE AMENDING THE 2010-2011 HOTEL OCCUPANCY
TAX BUDGET.
WHEREAS, the City Council has previously adopted a 2010-2011 Hotel
Occupancy Tax Budget, and
WHEREAS, the City Council wishes to amend said budget in accordance with
the attached proposal, Now Therefore
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF ROUND ROCK,
TEXAS:
That the 2010-2011 Hotel Occupancy Tax Budget is amended as set forth in
Exhibit "A" attached hereto and incorporated herein.
The City Council hereby finds and declares that written notice of the date, hour,
place and subject of the meeting at which this Ordinance was adopted was posted and
that such meeting was open to the public as required by law at all times during which
this Ordinance and the subject matter hereof were discussed, considered and formally
acted upon, all as required by the Open Meetings Act, Chapter 551, Texas Government
Code, as amended.
READ and APPROVED on first reading this the 0- day of
2011.
READ, APPROVED and ADOPTED on second reading this the 2-q'• day of
akat ifrY , 2011.
ATTEST:
9),IAAA,
SARA L. WHITE, City Secretary
O:\wdox\SCCInts\0112\ 1104\MUNICIPAL\00233 734.DOC/rmc
M /1 ------
ALA
MCGRAW, Mayor
City of Round Rock, Texas
EXHIBIT
„A„
City of Round Rock, Texas
Hotel Occupancy Tax Fund Budget Revision #1
Fiscal Year 2010-2011
2010-2011 2010-2011
Original Revised Revision #1
HOTEL OCCUPANCY TAX FUND Budget Budget #1 Variance
Revenues $ 2,215,000 $ 2,250,100 $ 35,100
Expenditures (2,214,994) (2,250,094) (35,100)
Total Change in Fund Balance $ 6 $ 6 $
HOTEL OCCUPANCY TAX FUND
Revenues
2010-2011 2010-2011
Original Revised Revision #1
Budget Budget #1 Variance
2,215,000 $ 2,250,100 $ 35,100
Events & Tourism Funding $ (69,500) $ (104,600) $ (35,100)
Convention & Visitors Bureau $ (775,494) $ (775,494) $
Capital Projects (360,000) (360,000)
Convention Center $ (1,010,000) $ (1,010,000) $
Total Expenditures $ (2,214,994) $ (2,250,094) $ (35,100)
Hotel Occupancy Tax Fund - Effect of the revision on fund balance:
Fund Balance 10/01/10 $ 7,314,509
Less Reserves (*1) (1,125,050)
Estimated Revenue (FY 2010-2011) 2,215,000
Interfund Transfers 35,100
Total Funds Available 8,439,559
Budgeted Expenditures (2,250,094)
Estimated Unreserved Fund Balance 9/30/11 $ 6,189,465
* 1 Reserve requirements established in accordance with operating reserve policies.
City of Round Rock
Hotel Occupancy Tax Fund #710
2010- 2011 Revised Budget #1
Revenues
Hotel -Motel Occupancy Tax
Interest Income
Miscellaneous Revenue
Transfer from Gen. Self Financed Const.
Total Revenues
Expenditures
2,200,000 $
15,000
0
0
2,200,000
15,000
0
35,100
2,215,000 2,250,100
Event & Tourism Funding
Festivals & Events Advertising 25,500 25,500
Arts Support 44,000 79,100
Tourism Support 0 0
Museum Support 0 0
Total Event & Tourism Funding 69,500 104,600
Convention & Visitors Bureau
Personnel 305,398 305,398
Contractual Services 244,271 244,271
Materials & Supplies 25,325 25,325
Other Services & Charges 200,500 200,500
Capital Outlay 0 0
Total Convention & Visitors Bureau 775,494 775,494
Total Operating Expenditures
844,994 880,094
Capital Projects
Transfer to Capital Projects Fund 360,000 360,000
Total Transfer to Capital Projects 360,000 360,000
Convention Center
Property Insurance 50,000 50,000
Contingency and Trustee Fees 45,000 45,000
Transfer to Reserve Fund at Trustee Bank 0 0
Transfer to Debt Svc. Fund at Trustee Bank 715,000 715,000
Transfer Capital Repair at Trustee Bank 100,000 100,000
Transfer to Conv. Center Revenue 0 0
Transfer to Stadium Expansion Fund
Transfer to Capital Improvement Fund 100,000 100,000
Total Convention Center 1,010,000 1,010,000
Total Expenditures $ 2,214,994 $ 2,250,094
ROUND ROCK, TEXAS
PURPOSE. PASSION. PROSPERITY
Agenda Item No.
City Council Agenda Summary Sheet
*9D3.
Agenda Caption:
Consider an ordinance amending the 2010-2011 Hotel Occupancy Tax Budget. (Second
Reading)
Meeting Date:
October 27, 2011
Department:
Finance
Staff Person making presentation: Cheryl Delaney
Finance Director
Item Summary:
The original FY 2011 Hotel Occupancy Tax Budget was approved by Council in September 2010. The budget includes
operating expenditures associated with the Convention & Visitors Bureau, special event funding, and debt service
for the Dell Diamond/United Heritage Convention Center Complex.
This budget amendment addresses items which affect the current FY 2011 Hotel Motel Occupancy Tax Fund budget.
The City implemented a contract for an Arts and Culture Strategic Plan Consultant. This amendment recognizes the
associated revenues and expenditures directly related to this contract. The additional funding has been allocated
from General Self -Financed Construction funds.
Cost: N/A
Source of Funds: N/A
Date of Public Hearing (if required): N/A
Recommended Action: Approval