Explanation
Background
This ordinance transfers $104,400 from the existing Hotel/Motel tax appropriation to the Recreation and Parks Department for the support of various annual cultural and arts programming for the enrichment of the community. City Code section 371.02 allows for the allocation of a maximum of 1.5% in relation to the 5.1% hotel/motel tax receipts for use for said purpose - the equivalent of 29.41% of collections. The City deems it appropriate to distribute $104,400 of this allocation to the Department of Recreation and Parks to support various cultural events.
In addition, this ordinance appropriates and transfers $195,000 from the unallocated balance of the Hotel/Motel tax fund to the Department of Recreation and Parks, to support department activities.
Both of these actions are in accordance with City Council amendments to the 2004 Executive Budget.
This ordinance is submitted as an emergency so as to allow any financial transactions affected by this amendment to be properly posted. Up to date financial posting promotes accurate accounting and financial management.
Title
To appropriate $195,000 within the Hotel/Motel Tax Fund, to transfer $299,400 from the Hotel/Motel Tax Fund to the Recreation and Parks Operating Fund, and to declare an emergency. ($299,400)
Body
WHEREAS, the Department of Recreation and Parks annually provides various cultural and arts programming for the enrichment of the community; and
WHEREAS, City Code section 371.02 allows for the allocation of a maximum of 1.5% in relation to the 5.1% hotel/motel tax receipts for use for said purpose - the equivalent of 29.41% of collections; and
WHEREAS, the city deems it appropriate to distribute $104,400 to the Department of Recreation and Parks to support various cultural events; and
WHEREAS, the city further deems it appropriate that $195,000 in unappropriated funds existent within the Hotel/Motel Tax fund be used to support Recreation and Park...
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