HomeMy WebLinkAboutOrdinance 26038-03-2023ORDINANCE NO. 26038-03-2023
AN ORDINANCE INCREASING ESTIMATED RECEIPTS AND
APPROPRIATIONS IN THE CULTURE AND TOURISM 2% HOTEL FUND, IN
THE AMOUNT OF $741,728.00, FROM ADDITIONAL ANTICIPATED
COLLECTIONS IN THE HOTEL OCCUPANCY TAX 2% COLLECTIONS, AND
INCREASING THE CONTRIBUTION TO FUND BALANCE BY THE SAME
AMOUNT; PROVIDING FOR A SEVERABILITY CLAUSE; MAKING THIS
ORDINANCE CUMULATIVE OF PRIOR ORDINANCES; REPEALING ALL
ORDINANCES IN CONFLICT HEREWITH; AND PROVIDING AN EFFECTIVE
DATE.
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF FORT WORTH,
TEXAS:
SECTION 1.
That in addition to those amounts allocated to the various City departments for Fiscal Year 2022-2023 in the
Budget of the City Manager, there shall also be increased appropriations in the Culture and Tourism 2% Hotel
Fund, in the amount of $741,728.00, from additional anticipated collections in the Hotel Occupancy Tax 2%
collections, and increasing the contribution to fund balance by the same amount.
SECTION 2.
That should any portion, section or part of a section of this ordinance be declared invalid , inoperative or void
for any reason by a court of competent jurisdiction, such decision, opinion or judgment shal I in no way impair
the remaining portions, sections, or parts of sections of this ordinance, which said remaining provisions shall
be and remain in full force and effect.
SECTION 3.
That this ordinance shall be cumulative of Ordinance 25773-09-2022 and all other ordinances and
appropriations amending the same except in those instances where the provisions of this ordinance are in
direct conflict with such other ordinances and appropriations , in which instance said conflicting provisions of
said prior ordinances and appropriations are hereby expressly repealed.
SECTION 4.
This ordinance shall take effect upon adoption.
APPROVED AS TO FORM AND LEGALITY:
Assistant City Attorney
ADOPTED AND EFFECTNE: March 21, 2023
CITY SECRETARY
r:::A~
Jannette S. Goodall
City Secretary
City of Fort Worth, Texas
Mayor and Council Communication
DATE: 03/21/23
LOG NAME : 25FY23BUDGETAMENDMENT
SUBJECT
M&C FILE NUMBER: M&C 23-0221
(ALL) Adopt Appropriation Ordinances Increasing Appropriations in Various Public Events Department Funds to Account for Increased Revenues and
Amend the Fiscal Year 2023 Adopted Budget
RECOMMENDATION:
It is re commended that the City Council :
1. Adopt the attached appropriation ordinance increasing estimated receipts and appropriations in the Culture & Tourism Fund Fiscal Year 2023
Operating Budget in the amount of $2 ,596,047.00 for additional anticipated collections in the Hotel Occupancy Ta x 7% collections ,
increasing appropriations in the amount of $573 ,467.00 for contractual payment to Visit Fort Worth resulting from additional anticipated Hotel
Occupancy Tax revenue collections and in creasing budgeted co ntributions to fund balance in the amount of $2 ,022 ,580.00 for the net difference for
an amended annual operating budget of $49,098 ,764 .00 ;
2. Adopt the attached appropriation ordinance increasing estimated rec eipts and appropriations in the Culture & Tourism 2 % Hotel Fund Fiscal Year
2023 Operating Budget in the amount of $741,728.00 for additional anticipated co llections and increasing budgeted contributions to fund balance
by the same amount for an amended annual operating budget of $8,681,425 .00 ;
3 . Adopt the attached appropriation ordinance increas ing estimated receipts and appropriations in the Culture & Tourism Project Finance Zone Fund
2023 Operating Budget in the amount of $1,162,938.00 for additional anticipated collections and increasing budgeted contributions to fund balance
by the same amount for an amended annual operating budget of $9 ,392 ,701.00 ;
4. Adopt the attached appropriation ordinance increasing estimated receipts and appropriations in the Culture & Tourism Venue Operating Fund
Fiscal Year 2023 Operating Budget in the amount of $1 ,876,617 .00 for increased collections and increasing budgeted contributions to fund balance
by the same amount for an amended annual operating budget of $7 ,831,857 .00; and
5. Amend Fi scal Year 2023 Adopted Budg ets.
DISCUSSION:
The purpose of this Mayor and Council Communication (M&C) is to adjust the Fiscal Year (FY) 2023 amended appropriations for various funds
associated with the Public Events Department (PED) to take into account updated, higher proj ections for hotel occupancy tax (HOT), which resu lts in a
new calculated base for payment to the Convention & Vis itors Bureau (Visit Fort Worth), and higher than anti c ipated FY2023 venue tax collections to
date.
Publi c Events has been collaborating with Financial Management Services , Treasury Division and working with Hunden Strategic Partn ers (HSP) and
PFM Financial Advisors to update tax revenues . While the last two years have seen a significant recovery period from the pandemic in terms of both hotel
rate and occupancy, future Ho te l Occupancy Ta x growth is expected to normalize with increased inflation . With new future supply in the market, HSP
updated the tax fund revenues at the end of December and the Public Events Department is amending their FY2023 budgets in response to that
anticipated growth .
Culture & Tourism Fund (Recommendation 1)
The action in this M&C will amend the Fiscal Year 2023 Adopted Budget as approved in connection with Ordinance 25773-09-2022 , Section 2 . Special
Revenue Funds , as listed on page 7.
Fund / Department
Budget Category
Culture and Tourism Fund
Revenues
Hotel Occupancy Taxes
License and Permits
Charges for Services
Use of Money and Property
Other
Miscellaneous Revenue
Recovery of Labor Costs
Recovery of Supplies
Recovery of Utilities
FY2023 Adopted
Budget Authority
$27 ,863,939 .00 Th is M&C Rec# 1
$6 ,000 .00
$5 ,043,250.00
$8,383,961.00
$88 ,500 .00
$642,611.00
$1,196,000.00
$215 ,000.00
Budget
Adjustment
$2 ,596,047 .00
Revised FY2023
Budget
$30,459 ,986 .0(
$6 ,000.0(
$5,043,250 .0(
$8,383,961.0(
$88 ,500.0(
$642 ,611.0(
$1, 196,000.0(
$215 ,000.0(
Transfer from General Fund (380 Agreement)
Use of Fund Ba lan ce
Total Revenues
Expenditures
Cult ure and Tourism
Transfer to General Fund
Transfer to Capita l Fund
Transfer to Ve h icle an d Equipment Replancement Fund
Transfer to IT Refresh Capital
Transfer to Debt Fund
Contribution to Fund Balance /Net Position
Total Expenditu res
Culture and Tourism 2% Hotel Fund (Recommendation 2)
$2,927 ,456 .00
$46 ,366 ,717.00
M&C 22-0984
$42,431,499.00 M&C 2 2-0984
Th is M&C Re c # 1
$943 ,581 .00
$500 ,000 .00
$179 ,155 .00
$44 ,054 .00
$798 ,907 .00
$1 ,469 ,521 .00 Th is M&C Re c # 1
$46 ,366 ,717 .00
$136,000 .00
$2,73 2,047 .00
$136 ,000.00
$573,467 .00
$2 ,022,580 .00
$2 ,732 ,047.00
$2 ,927,456 .0(
$136,000 .0(
$49 ,098 , 764.0(
$42 ,567,499.0(
$943 ,581.0(
$500 ,000 .0(
$179,155 .0(
$44 ,054 .0(
$798 ,907 .0(
$3,492 , 101 .0(
$49 ,098 , 764.0(
Th e action in this M&C wi ll amend the Fisca l Year 2023 Adopted Budget as approved in connection with Ordinance 25773-09-2022 , Section 2 . Special
Reve nu e Fu nds, as listed o n page 8.
Fund / Departme nt FY2023 Adopted Authority B udget Adjustment Revised FY2023
Budget Ca tegory Budget Budget
Culture a nd Tourism 2% Hote l Fund
Revenues
Hotel Occupancy Taxes $7 ,939 ,697 .00 This M&C Rec # 2 $741 ,728 .00 $8,681,425 .0(
Total Revenue s $7,939 ,697.00 $741 ,728.00 $8 ,681 ,425 .0(
Expenditures
T ransfer to Capital Fund $3 ,371,000.00 $3,371,000.0(
T ra nsfer to Debt Fund $3 ,7 17,367 .00 M&C 22 -0984 -$2 ,740 ,6 17 .00 $976,750 .0(
Contrib ution to Fund Ba lance/Net Positio n $851 ,330.00 M&C 22-0984 $2 ,740 ,617.00 $4 ,333,67 5 .0(
This M&C Rec # 2 $741,728 .00
Total Expenditu res $7 ,939 ,697 .00 $741 ,728.00 $8,681 ,425.0(
Culture and Tourism Project Fi nance Zone Fund (Recommenda~ion 3)
T he action in this M&C w ill amend the Fisca l Year 2023 Adopted Budget as approved in connection w ith Ordinance 25773-09-2022 , Sect ion 2 . Specia l
Reve nue Funds , as listed o n page 8-9 .
Fund/ Department FY2023 Adopted Authority Budget Adjustment Revised FY2023
Budget Category Budget Budget
Culture and Tourism Project Finance Zone Fund
Reve nues
In te rgovern me ntal Revenue $8,229,763 .00 This M&C Rec 3 $1,162,938 .00 $9,392,70 1.0(
Total Revenues $8 ,229 ,763.00 $9 ,392 , 701 .0(
Expe nd itures
Transfer to Debt Fund $6 ,571 ,554 .00 M&C 22-0984 $1 ,658 ,209 .00 $8 ,229 , 763 .0(
Contributio n to Fund Balance/Net Position $1,658,209 .00 M&C 22-0984 -$1 ,658 ,209.00 $1 , 162 ,938.0(
T his M&C Rec 3 $1,162,938 .00
Total Expenditures $8 ,229 ,763.00 $1 ,162 ,938 .00 $9 ,392 , 701.0(
Venue Operating Fund (Recommendation 4)
T he acti o n in thi s M&C w ill a mend the Fisca l Year 2023 Adopted Budget as approved in connection with Ordinance 25773-09-2022, Section 2 . S pecia l
Revenue Fun ds , as listed on page 9 .
Fund / Department
Budget Category
Venue Operating Fu nd
Revenues
Other Taxes
Sta ll Tax Revenue
Ticket Tax Revenue
FY2023 Adopted
Budget Authority
$274 ,06 7 .00 This M&C Rec 4
$3 ,633,704 .00 This M&C Rec 4
Bud get Adjustment
-$53,457 .00
$675 ,879.00
Revised FY2023
Budget
$220,6 10 .0(
$4 ,309 ,583 .0(
Parking Tax Revenue $2 ,047,469.00 This M&C Rec 4 $1 ,254,195.00 $3,301,664 .0(
Total Revenues $5 ,955 ,240.00 $1,876 ,617 .00 $7 ,83 1,857.0(
Expend itures
Transfe r to V enue Debt Fund $5,255,547.00 M&C 22-0984 $699,693.00 $5,955,240 .0(
Contribution to Fund Balance/Net Position $699,693 .00 M&C 22-0984 -$699,693.00 $1,876,617.0(
This M&C Rec 4 $1 ,876,617.00
Total Expenditures $5 ,955,240 .00 $1,876 ,617.00 $7 ,831 ,857.0(
A doption of this M&C and the attached ordinances wi ll revise the FY2023 A mended Budget.
A Form 1295 is not required because: This _ M&C does not request approval of a contract with a business entity.
FISCAL INFORMATION/ CERTIFICATION :
The Director of Finance certifies that upon approva l of the recommendations and adoption of the attached appropriation ordinances funds will be
avai lab le in the Culture & Tour Proj Fin Zone, Venue Operating , Culture & Tourism 2% Hotel and Cu lture & Tourism Operating Fu nds. Prior to an
expenditure being incurred, the Pub lic Events Department has the responsibi lity of verifying the availability of funds .
Submitted for City Manager's Office by: W illiam J ohnson 5806
Originating Business Unit Head: Michael Crum 2501
Additional Information Contact: A ndrea Wright 2502