R-12-11-20-G10 - 11/20/2012RESOLUTION NO. R -12-11-20-G10
WHEREAS, the City Council has previously adopted a 2012-2013 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 2012-2013 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 20th day of November, 2012.
ALAN MCGRAW, Mayor
City of Round Rock, Texas
ATTEST:
SARA L. WHITE, City Clerk
O: \wdox\SCC1nts\0l 12\ 1204\MUNICIPAL\00262126. DOC
City of Round Rock, Texas
Hotel Occupancy Tax Fund Budget Revision #1
Fiscal Year 2012-2013
Hotel Occupancy Tax Fund - Effect of the revision on fund balance:
Fund Balance 10/01/12 $ 8,685,737
Less Reserves ( *1) (1,562,500)
Estimated Revenue (FY 2012-2013) 3,125,000
Interfund Transfers 0
Total Funds Available 10,248,237
Budgeted Expenditures (3,125,000)
Estimated Unreserved Fund Balance 9/30/13 $ 7,123,237
* 1 Reserve requirements established in accordance with operating reserve policies.
EXHIBIT
„A„
2012-2013
2012-2013
Original
Revised
Revision #1
HOTEL OCCUPANCY TAX FUND
Budget
Budget #1
Variance
Revenues
$ 3,025,000
$ 3,125,000
$ 100,000
Expenditures
(3,025,000)
(3,125,000)
(100,000)
Total Change in Fund Balance
$ 0
$ 0
$ 0
2012-2013
2012-2013
Original
Revised
Revision #1
HOTEL OCCUPANCY TAX FUND
Budget
Budget #1
Variance
Revenues
$ 3,025,000
$ 3,125,000
$ 100,000
Events & Tourism Funding
$ (25,500)
$ (25,500)
$ 0
Convention & Visitors Bureau
$ (722,464)
$ (722,464)
$ 0
Capital Projects
$ (1,120,036)
$ (1,120,036)
$ 0
Convention Center
$ (1,157,000)
$ (1,257,000)
$ (100,000)
Total Expenditures
$ (3,025,000)
$ (3,125,000)
$(100,000)
Hotel Occupancy Tax Fund - Effect of the revision on fund balance:
Fund Balance 10/01/12 $ 8,685,737
Less Reserves ( *1) (1,562,500)
Estimated Revenue (FY 2012-2013) 3,125,000
Interfund Transfers 0
Total Funds Available 10,248,237
Budgeted Expenditures (3,125,000)
Estimated Unreserved Fund Balance 9/30/13 $ 7,123,237
* 1 Reserve requirements established in accordance with operating reserve policies.
EXHIBIT
„A„
City of Round Rock
Hotel Occupancy Tax Fund #710
2012-13 Revised Budget #1
Revenues
Hotel -Motel Occupancy Tax
Interest Income
Contributions
Total Revenues
Expenditures
Event & Tourism Fundinq
Festivals & Events Advertising
Total Event & Tourism Funding
Convention & Visitors Bureau
Personnel
Contractual Services
Materials & Supplies
Other Services & Charges
Total Convention & Visitors Bureau
Total Operating Expenditures
Capital Projects
Transfer to Capital Projects Fund
Total Transfer to Capital Projects
Convention Center
Property Insurance
Contingency and Trustee Fees
Transfer to Debt Svc. Fund
Transfer Capital Repair at Trustee Bank
Transfer to Capital Improvement Fund
Total Convention Center
Total Expenditures
$ 3,000,000 $ 3,050,000
25,000 25,000
0 50,000
$ 3,025,000 $ 3,125,000
$ 25,500
$
25,500
$ 25,500
$
25,500
$ 263,496
$
263,496
241,243
241,243
20,725
20,725
197,000
197,000
722,464
722,464
747,964
$ 747,964
$
$ 1,120,036
$
1,120,036
$ 1,120,036
$
1,120,036
$ 45,000
$
45,000
45,000
45,000
717,000
717,000
250,000
250,000
100,000
200,000
$ 1,157,000
$
1,257,000
3,125,000
$ 3,025,000
$
ROUND ROCK, TEXAS City Council Agenda Summary Sheet
PURPOSE PASSION. PROSPERITY.
Item No. G10.
Agenda Caption: Consider a resolution amending the 2012-2013 Hotel Occupancy Tax Budget.
Date: November 20, 2012
Department: Finance Department
Staff Person making presentation: Cheryl Delaney
Finance Director
Item Summary:
The original FY 2013 Hotel Occupancy Tax Budget was approved by Council in September 2012. 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 2013 Hotel Motel Occupancy Tax Fund budget.
A replica water tower will be installed at the Dell Diamond. This amendment recognizes the associated revenues
and expenditures directly related to this activity. The additional funding has been allocated a contribution from the
Round Rock Express for 50% of the $100,000 cost, with the remaining $50,000 allocated from the estimated Hotel -
Motel Tax revenues. The transfer to the Dell Diamond Capital Improvement Fund is increased by $100,000 to reflect
this item.
Cost: N/A
Source of Funds: N/A
Recommended Action: Approval