| | | | | | | |  | CITY OF PLANO
COUNCIL AGENDA ITEM |
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| | | | | | | | Council Meeting Date: 10/22/2018
Department: Budget
Department Head: Karen Rhodes-Whitley
Agenda Coordinator: Raini Layne |
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CAPTION
Ordinance No. 2018-10-10: To transfer the sum of $175,000 from the Convention & Tourism Fund Unappropriated fund balance to the Convention & Tourism Operating Appropriation for fiscal year 2018-19 for the purpose of providing funding for the USA Softball 18U and 16U Gold National Tournament, amending the Budget of the City adopted by Ordinance No. 2018-9-9, specifically Section 1, Item “H”, to reflect the actions taken herein; declaring this action to be a case of public necessity; and providing an effective date. Adopted |
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FINANCIAL SUMMARY Operating Expense
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| FISCAL YEAR: 2018-19 |
Prior Year
(CIP Only) |
Current
Year
|
Future
Years
|
TOTALS |
| Budget |
0 |
12,353,540 |
0 |
12,353,540 |
| Encumbered/Expended Amount |
0 |
0 |
0 |
0 |
| This Item |
0 |
175,000 |
0 |
175,000 |
| Balance |
0 |
12,528,540 |
0 |
12,528,540 |
FUND(S): Convention & Tourism
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COMMENTS: This is the first supplemental appropriation for the FY 2018-19 Convention & Tourism Budget, totaling $175,000. Anticipated additional hotel/motel tax revenues that exceed original revenue estimates in the 2018-19 Budget will offset this supplemental appropriation. |
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SUMMARY OF ITEM
Supplemental Appropriation No. 2
This supplemental appropriation provides funding for the USA Softball 18U and 16U Gold National Tournament. Approval would allow for the best utilization of the highest operating efficiency of the Parks & Recreation Department. This item will have a direct economic impact of an estimated $3.8 million dollars on the City of Plano and the surrounding area, and adds expenditures to the Convention & Tourism Fund's 2018-19 Operating Budget.
Strategic Plan Goal:
Financially Strong City with Service Excellence, Strong Local Economy, Partnering for Community Benefit
Plano Tomorrow Plan Pillar:
Social Environment, Economic Environment, Regionalism |
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