R-14-02-27-I3 - 2/27/2014RESOLUTION NO. R -14-02-27-I3
WHEREAS, the City Council has previously adopted a 2013-2014 Hotel Occupancy Tax
Fund Budget, and
WHEREAS, the City Council wishes to amend said budget in accordance with the
attached proposal, Now Therefore
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF ROUND ROCK,
TEXAS,
That the 2013-2014 Hotel Occupancy Tax Fund 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 Resolution was adopted was posted and that such
meeting was open to the public as required by law at all times during which this Resolution 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.
RESOLVED this 27th day of February, 2014.
ALAN MCGRAW, Mayor
City of Round Rock, Texas
ATTEST:
SARA L. WHITE, City Clerk
0112.1404;00292828
EXHIBIT
„A„
City of Round Rock, Texas
Hotel Occupancy Tax Fund Budget Revision #1
Fiscal Year 2013-2014
2013-2014 2013-2014
Original Revised Revision #1
HOTEL OCCUPANCY TAX FUND Budget Budget #1 Variance
Revenues
$ 3,125,000
Expenditures (2,914,062)
Total Change in Fund Balance $ 210,938
HOTEL OCCUPANCY TAX FUND
Revenues
$ 3,125,000 $ 0
(2,992,062) 78,000
$ 132,938 $ 78,000
2013-2014 2013-2014
Original Revised Revision #1
Budget Budget #1 Variance
$ 3,125,000 $ 3,125,000 $ 0
Events & Tourism Funding 25,500 25,500 0
Convention & Visitors Bureau 716,322 716,322 0
Capital Projects 423,000 423,000 0
Sports Complex 590,000 590,000 0
Convention Center 1,159,240 1,237,240 78,000
Total Expenditures $ 2,914,062 $ 2,992,062 $ 78,000
Hotel Occupancy Tax Fund - Effect of the revision on fund balance:
Fund Balance 10/01/12 $ 8,419,288
Less Reserves (`1) (1,562,500)
Estimated Revenue (FY 2012-2013) 3,125,000
Interfund Transfers 0
Total Funds Available 9,981,788
Budgeted Expenditures (2,992,062)
Estimated Unreserved Fund Balance 9/30/13 $ 6,989,726
* 1 Reserve requirements established in accordance with operating reserve policies.
City of Round Rock
Hotel Occupancy Tax Fund #710
2013-14 Budget
2013-2014
DESCRIPTION OF ITEM Budget
2013-2014
Revised
Budget
Revenues
Hotel -Mot& Occupancy Tax
Interest Income
Total Revenues
Expenditures
$
3,100,000 $
25,000
3,100,000
25,000
3,125,000 3,125,000
Event & Tourism Funding
Festivals & Events Advertising 25,500 25,500
Contingency 0 0
Total Event & Tourism Funding 25,500 25,500
Convention & Visitors Bureau
Personnel 256,231 256,231
Contractual Services 242,321 242,321
Materials & Supplies 20,770 20,770
Other Services & Charges 197,000 197,000
Capital Outlay 0 0
Total Convention & Visitors Bureau 716,322 716,322
Total Operating Expenditures
Capital Projects
Transfer to Capital Projects Fund
Total Transfer to Capital Projects
Sports Complex
Transfer to Sports Complex
Total Transfer to Sports Complex
741,822 741,822
423,000 423,000
423,000 423,000
590,000 590,000
590,000 590,000
Convention Center
Property Insurance 45,000 45,000
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 719,240 719,240
Transfer Capital Repair at Trustee Bank 250,000 250,000
Transfer to Capital Improvement Fund 100,000 178,000
Total Convention Center 1,159,240 1,237,240
Total Expenditures $ 2,914,062 $ 2,992,062