G-12-10-11-F4 - 10/11/2012 n
ORDINANCE NO.
AN ORDINANCE AMENDING THE 2011-2012 HOTEL OCCUPANCY
TAX BUDGET.
WHEREAS, the City Council has previously adopted a 2011-2012 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 2011-2012 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 day of
- W1�z�12, 2012.
READ, APPROVED and ADOPTED on second reading this the day of
2012.
Ole),
ADM MCGRAW, Mayor
City of Round Rock, Texas
ATTEST:
qVW1--
SARA L. WHITE, City Clerk
0.Awdox\SCClnts\0112\I204\MUNICIPAL\00258422 Doc
EXHIBIT
"A„
City of Round Rock, Texas
Hotel Occupancy Tax Fund Budget Revision #1
Fiscal Year 2011-2012
2011-2012 2011-2012
Original Revised Revision#1
HOTEL OCCUPANCY TAX FUND Budget Budget#1 Variance
Revenues $ 2,325,000 $ 2,825,000 $ 500,000
Expenditures (2,324,770) 2,621,734 (296,964)
Total Change in Fund Balance $ 230 $ 203,266 $ 203,036
2011-2012 2011-2012
Original Revised Revision#1
HOTEL OCCUPANCY TAX FUND Budget Budget#1 Variance
Revenues $ 2,325,000 $ 2,825,000 $ 500,000
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Events&Tourism Funding $ (25,500) $ (25,500) $ 0
Convention&Visitors Bureau $ (716,270) $ (716,270) $ 0
Capital Projects $ (423,000) $ (719,964) $ (296,964)
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Convention Center $ (1,160,000) $ (1,160,000) $ 0
Total Expenditures $ (2,324,770) $ (2,621,734) $ (296,964)
Hotel Occupancy Tax Fund-Effect of the revision on fund balance:
Fund Balance 10/01/11 $ 8,114,729
r
Less Reserves(*1) (1,412,500)
Estimated Revenue(FY 2011-2012) 2,825,000
Interfund Transfers
Total Funds Available 9,527,229
Budgeted Expenditures (2,621,734) i
Estimated Unreserved Fund Balance 9/30/12 $ 6,905,495
* 1 Reserve requirements established in accordance with operating reserve policies.
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City of Round Rock
Hotel Occupancy Tax Fund #710
2011-12 Revised Budget#1
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R�PTITTEM
Revenues
Hotel-Motel Occupancy Tax $ 2,300,000 $ 2,800,000
Interest Income 25,000 25,000
Total Revenues $ 2,325,000 $ 2,825,000
Expenditures
Event&Tourism Funding
Festivals& Events Advertising $ 25,500 $ 25,500
Total Event&Tourism Funding $ 25,500 $ 25,500
Convention &Visitors Bureau
Personnel $ 258,328 $ 258,328
Contractual Services 236,717 236,717
Materials&Supplies 20,725 20,725
Other Services&Charges 200,500 200,500
Total Convention &Visitors Bureau 716,270 716,270
Total Operating Expenditures $ 741,770 $ 741,770
Capital Projects
Transfer to Capital Projects Fund $ 423,000 $ 719,964
Total Transfer to Capital Projects $ 423,000 $ 719,964
Convention Center
Property Insurance $ 50,000 $ 50,000
Contingency and Trustee Fees 45,000 45,000
Transfer to Debt Svc. Fund 715,000 715,000
Transfer Capital Repair at Trustee Bank 250,000 250,000
Transfer to Capital Improvement Fund 100,000 100,000
Total Convention Center $ 1,160,000 $ 1,160,000
Total Expenditures $ 2,324,770 $ 2,621,734
ROUNDROCK,TEXAS City Council Agenda Summary Sheet
PURPOSE.PASSION.PROSPERITI:
Agenda Item No. F4. -CONSENT
Consider an ordinance amending the FY 2011-2012 Hotel Occupancy Tax Budget. (Second
Agenda Caption: Reading)
Meeting Date: October 11, 2012
Department: Finance
Staff Person making presentation: Cheryl Delaney
Finance Director
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Item Summary:
The original FY 2012 Hotel Occupancy Tax Budget was approved by Council in September 2011. 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.
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This budget amendment addresses items which affect the current FY 2012 Hotel Motel Occupancy Tax Fund budget.
The Hotel Occupancy Tax revenues have been greater than anticipated, and this amendment recognizes the
additional revenue that has been collected. Rather than use fund balance, this amendment also allocates funding
for the Capital Projects Fund.
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Cost: None—This is a budget amendment adoption only
Date of Public Hearing(if required): Not required
Recommended Action: Approval
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