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CITY COUNCIL AGENDA MEMO |
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| | | | | | | | | MEETING DATE: | 3/24/2025 | | DEPARTMENT: | Budget | | DIRECTOR: | Karen Rhodes-Whitley, Director of Budget and Research | | AGENDA ITEM: | Convention & Tourism Fund Supplemental Appropriation Ordinance #1 for FY 2024-25 | | RECOMMENDED ACTION: | Items for Individual Consideration |
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| | | | | | | | ITEM SUMMARY Consideration of an Ordinance to transfer the sum of $1,200,000 from the Convention & Tourism Fund balance to the Capital Maintenance Fund for fiscal year 2024-25 to replace two (2) generators at the Plano Event Center, amending the Budget of the City adopted by Ordinance No. 2024-9-5, specifically Section 1, Item "J", to reflect the actions taken herein; declaring this action to be in the public interest; and providing an effective date. Ordinance No. 2025-3-10. |
| | | | | | | | PREVIOUS ACTION/PRESENTATION On September 5, 2024, City Council adopted the Operating Budget Ordinance for the 2024-25 fiscal year, which included appropriations for the Convention & Tourism Fund of $16,102,517. |
| | | | | | | | BACKGROUND Supplemental appropriations have been approved in the past on an as-needed basis by the City Council to address funding requirements that were not identified within previously adopted budgets and that would not be prudent to delay to the next fiscal year. |
| | | | | | | | FINANCIAL SUMMARY/STRATEGIC GOALS This is the first supplemental appropriation for the FY 2024-25 Convention & Tourism Fund Budget, totaling $1,200,000.
Approval of this agenda item supports the City's Strategic Plan Critical Success Factor of Excellent, Innovative and Accountable Government. |
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