R-13-05-23-I2 - 5/23/2013RESOLUTION NO. R -13-05-23-I2
WHEREAS, the City Council has previously adopted the 2012-2013 Sports Venue 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 Sports Venue 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 23rd day of May, 2013.
ALAN MCGRAW, Mayor
City of Round Rock, Texas
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SARA L. WHITE, City Clerk
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EXHIBIT
„A„
City of Round Rock, Texas
Sports Venue (Hotel Occupancy Tax Fund 715) Budget Revision #1
Fiscal Year 2012-2013
* 1 Reserve requirements established in accordance with operating reserve policies
Note: This revision will add 3 FTEs to the Sports Venue Fund
2012-13
2012-13
Original
Revised
Revision #1
SPORTS VENUE
Budget
Budget #1
Variance
Revenues
$ 850,000
855,000
5,000
Expenditures76(
2,000)
(1,039,900)
(277,900)
Total Change in Fund Balance
$ 88,000
$ (184,900)
$ (272,900)
2012-13
2012-13
Original
Revised
Revision #1
SPORTS VENUE
Budget
Budget #1
Variance
Revenues
$ 850,000
$ 855,000
$ 5,000
Sports Venue Operations
$ (170,000)
$ (447,900)
$ (277,900)
Debt Service
$(592,000)
$ (592,000)
$ 0
Total Expenditures
$ (762,000)
$(1,039,900)
$ (277,900)
Sports Venue - Effect of the revision on fund balance:
Fund Balance 10/01/12
$ 508,153
Less Reserves ( *1)
(85,500)
Estimated Revenue (FY 2012-2013)
855,000
Interfund Transfers
0
Total Funds Available
1,277,653
Budgeted Expenditures
(1,039,900)
Estimated Unreserved Fund Balance 9/30/13
$ 237,754
* 1 Reserve requirements established in accordance with operating reserve policies
Note: This revision will add 3 FTEs to the Sports Venue Fund
City of Round Rock
Sports Venue (Hotel Occupancy Tax Fund #715)
2012-13 Revised Budget #1
Revenues
Hotel -Motel Occupancy Tax (2%)
Interest Income
Total Revenues
Expenditures
Sports Venue Operations
Personnel
Contractual Services
Materials & Supplies
Other Services & Charges
Capital Outlay
Total Sports Venue Operations
Debt Service
Transfer to Debt Svc. Fund at Trustee Bank
Total Debt Service
$ 850,000 $ 850,000
0 5,000
$ 850,000 $ 855,000
$ 115,113
$
165,600
54,887
104,400
0
65,600
0
7,500
0
104,800
$ 170,000
$
447,900
$ 592,000
$
592,000
$ 592,000
$
592,000
Total Expenditures $ 762,000 $ 1,039,900
City of Round Rock
ROUND ROCK, TIXAS
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Agenda Item Summary
Agenda Number: 1.2
Title: Consider a resolution amending the 2012-2013 Sports Venue Budget.
Type: Resolution
Governing Body: City Council
Agenda Date: 5/23/2013
Dept Director: Cheryl Delaney, Finance Director
Cost:
Indexes: Hotel Occupancy Tax Fund
Attachments: Resolution, Exhibit A
Text of Legislative File 13-316
In May 2011, City Council adopted a resolution designating the proposed Sports Complex as a
Venue Project and the method of financing to be used to fund the project. A Special Election was
called in November 2011 submitting to voters the proposal for the approval of a Sports and
Community Venue Project and for an additional 2% hotel occupancy tax to fund the project. Voters
approved the use of additional taxes to reimburse or pay the costs of planning, acquiring,
establishing, developing, constructing, renovating, operating, or maintaining the project, or paying
the principal and interest on, or other costs relating to bonds or obligations to finance the project.
This venue will be utilized to expand the City's "Sports Capital of Texas" tourism program.
The 2012-13 Sports Venue budget was adopted by Council in September of 2012, and included
revenues associated with the collection of the 2% Hotel Occupancy Tax, and funding for a Sports
Center Manager position. This amendment allocates additional funding related to preparing for the
anticipated fall opening of the venue. Included are 3 additional positions - an Operations
Coordinator, an Events Coordinator, and an Administrative Assistant. This amendment also includes
funding for capital and operational expenditures required in preparation for the facility's opening.
Cost. 0.00
Source of Funds: N/A
Staff recommends approval.
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