G-05-08-25-12A1 - 8/25/2005ORDINANCE NO. g 05 -DE-) 5 -
AN ORDINANCE AMENDING THE 2004-2005 HOTEL OCCUPANCY
TAX BUDGET.
WHEREAS, the City Council has previously adopted a 2004-2005
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 COUNCIL OF THE CITY OF ROUND ROCK,
TEXAS:
That the 2004-2005 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 1 1.41 day
of
, 2005.
READ, APPROVED and ADOPTED on second reading this the
crth
do( day of , 2005.
ST:,
CHRISTINE R. MARTINEZ, City Secret
@PFDesktop\,ODMA/WORLDOX/0:/WDOVORDINANC/HOTBUDG.WPD/sc
WE L, ayo
of Round Rock, Texas
City of Round Rock
Hotel Occupancy Tax Fund # 710
Fund Balance Analysis
Estimated Fund Balance 10/01/04
• Less Operating Reserves (*1)
Estimated Revenue (FY 2004-2005)
Total Funds Available
Requested Expenditures
Estimated Unreserved Fund Balance 9/30/05 $ 1,306,442
2,377,007
(1,000,000)
1,700,000
3,077,007
(1,770,565)
* 1 Operating Reserves are established in accordance with operating reserve policies_
City of Round Rock
Hotel Occupancy Tax Fund #710
2004-2005 Revision !Budget
Revenues
Hotel -Motel Occupancy Tax
Interest Income
Total Revenues
Expenditures
$ 1,650,149 $ 1,620,000 $
26,321 10,000
1,675,000
25,000
1,676,470 1,630,000 1,700,000
Event & Tourism Funding
Festivals & Events Advertising 22,473 5,617 5,617
Arts Support 27,460 19,000 19,000
Tourism Support 104,192 32,000 32,000
Museum Support 8,000 8,000 8,000
Unallocated 0 20,000 20,000
Total Event & Tourism Funding 162,125 84,617 84,617
Convention & Visitors Bureau
Personnel 83,541 264,858 264,858
Contractual Services 316,638 290,200 290,200
Materials & Supplies 11,386 19,600 19,600
Other Services & Charges 31,786 122,500 122,500
Capital Outlay 26,240 31,000 31,000
Total Convention & Visitors Bureau 469,591 728,158 728,158
Total Operating Expenditures 631,716 812,775 812,775
Capital- Projects
Transfer to Capital Project Fund - 238,500 238,500
Waytinding-City -
Total Capital Projects Expenditures 238,500 238,500
Convention Center
Capital Expansion
Transfer to Reserve Fund at Trustee Bank
Transfer to Debt Svc_ Fund at Trustee Bank
Transfer to Stadium Expansion Fund
Transfer to Corm_ Center Revenue
Property Insurance
Contingency and Trustee Fees
Capital Repair at Trustee Bank
Total Convention Center
92,285
536,240
739,995
25,347
6,661
32,700
1,433,228
494,990
1,000
494,990
32,000 32,000
25,000 4,000
75,000 187,300
626,990 719,290
Total Expenditures $ 2,064,944 $ 1,678,265 $ 1,770,565
DATE: August 19, 2005
SUBJECT: City Council Meeting - August 25, 2005
ITEM: *12.A.1. Consider an ordinance amending the 2004-2005 Hotel Occupancy
Tax Budget (Second Reading)
Department: Finance Department
Staff Person: Cindy Demers, Finance Director
Justification:
This amendment allocates required funding to the Convention Center Complex Capital Repair
Fund for the video display system of the scoreboard at the Dell Diamond facility replaced in March
2005. The revision is funded through additional hotel occupancy tax collections and use of
unreserved fund balance.
Funding:
Cost: N/A
Source of funds: Hotel/Motel Occupancy Tax Budget
Outside Resources: N/A
Background Information:
In January 2005, the City Council authorized the replacement of the video display system of the
scoreboard at the Dell Diamond/United Heritage Convention Center Complex. The expenditure of
$187,300 was made from the Convention Center Complex Capital Repair Fund. Per requirements
under the Hotel Occupancy Tax, Series 1999 Revenue Bond Ordinance, whenever funds are
disbursed from the Capital Repair Fund, the Fund must be restored to a $250,000 balance. This
revision restores the Capital Repair Fund to the required amount.
Public Comment: N/A