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Home My WebLink AboutOrdinance 21238-05-2014 Ordinance No. 21.23$-OS-2014 AN ORDINANCE INCREASING THE ESTIMATED RECEIPTS AND APPROPRIATIONS IN THE CULTURE AND TOURISM FUND IN THE AMOUNT OF $150,000.00, DECREASING THE ASSIGNED FUND BALANCE BY THE SAME AMOUNT, FOR THE PURPOSE OF INCREASING FUNDING FOR THE FORT WORTH CONVENTION AND VISITORS BUREAU (CVB) TO REACH MORE KEY MARKETS THROUGH TARGETED OUTREACH; 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 2013-2014 in the Budget of the City Manager, there shall also be increased estimated receipts and appropriations in the Culture and Tourism Fund in the amount of$150,000.00, decreasing the assigned fund balance by the same amount, for the purpose of increasing funding for the Fort Worth Convention and Visitors Bureau (CVB) to reach more key markets through targeted outreach. 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 shall 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 No. 20952-09-2013 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in which instance said conflicting provisions of said prior ordinances and appropriations are hereby expressly repealed.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: CITY SECRP;TARY t n�ty Attorney"' Mary J. Kays Ass aW ADOPTED AND EFFECTIVE: May 13,20„14 CITY OF FORT WORTH ," ", , _ Prepared by Shobha George 04/08114 CULTURE AND TOURISM FUND BALANCE Approved by SEPTEMBER0,2013 Contact Andrea Wright x8514 Departmental Ann Marie Mendez x8515 Budget Departs-neat CULTURE AND .. H f...... TOURISM FUND GG04 2012 ASSIGNED FUND BALANCE 115.315 898.79}' FY 2013 REVENUE (37 887,6D3.42): FY 2018 EXPEN611 URLS 40 418,768.30 2013 ESTIMATEUASSIGt4ED FUND BALANCE _ (12,784,733,91 , RESERVED FOR ENCUPFBF3 4i(-.ES(ROLLOVER EfffUMBWkNCE FOR 2014) 3:169,570,00 2013 ESTIMATED ASSIGNED FUND BALANCE 9,615,163.91)j Less. Su Iementa)A ro nations 1 _P... � J? p --, 25FWCC Carpet Protect 583 418.00 25NIARK.ET STUDY MF C •C2b50!1 91 000.OD 11 25CVBALLOCATIO"N14 150 000.00 _ Iota[Sipplemental Appropr ations 824,418.00 .. .. 6,79ft 745.9'11, LESS.MINIMUM FUND BALANCE RESERVE o _ _ ... 5,486,255.00 (20/a of adopted budget of$35,437,069 less$8 005 794.00 for debt sernce) �„ " PROJECT50 FY2014"I*UNO"$ALANCE (ABOVE)BELOW MINIMUM,FUND BALANCE $ (3,304,490.9 4. Adopted Budget 35,437,069,00 _ (8,005,794.00?, Debt Service 27,431,275.00 C:\Documents and Settings\sanches\My Documents\M and C DEPT\2014\4-22-14\Copy of GG04 Projected FY2014 Fund Ba1ance_25CVBALL0CATI0N14.xlsx City of Fort Worth, Texas Mayor and Council Communication COUNCIL ACTION: Approved on 5113/2014 - Ordinance No. 21238-05-2014 DATE: Tuesday, May 13, 2014 REFERENCE NO.: **C-26800 LOG NAME: 25CVBALLOCATION14 SUBJECT: Authorize Execution of an Addendum to City Secretary Contract No. 44949, an Agreement with the Fort Worth Convention and Visitors Bureau, in the Amount of$150,000.00 for Additional Marketing Services and Adopt Supplemental Appropriation Ordinance (ALL COUNCIL DISTRICTS) RECOMMENDATION: It is recommended that the City Council; 1. Authorize the execution of an addendum to City Secretary Contract No. 44949, a Professional Services Agreement, with the Fort Worth Convention and Visitors Bureau in the amount of $150,000.00 for additional marketing services; and 2. Adopt the attached supplemental appropriation ordinance increasing estimated receipts and appropriations in the Culture and Tourism Fund in the amount of $150,000.00 and decreasing the assigned Culture and Tourism Fund balance by the same amount. DISCUSSION: The City and the Fort Worth Convention and Visitors Bureau (CVB) are parties to City Secretary Contract No. 44949 (M&C C-26483 and M&C C-26493), a Professional Services Agreement, under which the CVB markets and promotes Fort Worth as a business and leisure destination. The Agreement has a term of five years effective on October 1, 2013 and requires the CVB to prepare and submit a yearly marketing plan to the City that includes the services to be performed by the CVB for the upcoming fiscal year. Funding for the CVB's general marketing and promotional activities and services comes from an allocation of 47 percent of the Hotel Occupancy Tax (HOT) collections that the City receives and that are not otherwise restricted or dedicated to a specific purpose by state law or local ordinance or Agreement. Funds are payable in 12 equal monthly installments based on budget projections of HOT revenues and subject to a yearly "true up" process that identifies deviations between actual HOT collections and budget projections and corrects those deviations through a series of adjustments in the subsequent year's payments. Pursuant to the current Agreement, the CVB prepared a marketing plan outlining the marketing services to be performed by the CVB for Fiscal Year 2014 based on the projected 2014 HOT funds that would be available and that plan was approved by the City. Following execution of the new Agreement, final accounting of the 2013 HOT collections showed that they exceeded projections for the period. Because these funds relate to a period prior to the current Agreement, they are not subject to the Agreement's percentage allocation and were deposited into the City's Culture and Tourism Fund balance. Logname: 25CVBAI:,L0CA 10N'1.4 Page I of 2 Staff is recommending that the amount of $150,000.00 from these funds be used to engage CVB to provide additional marketing services that are beyond the scope of the current year's marketing plan, Those services would include targeted outreach to key markets in particular additional domestic cities such as Saint Louis, Chicago and Los Angeles and additional international markets Served by the Dallas/Fort Worth International Airport. Funding for these additional services would be in addition to and fall outside of the funding model under the current Agreement. These additional funds would not affect the above-stated general funding percentage allocation or the associated "true Up" process. The services provided under the proposed addendum would be in addition to those included in CVB's previously approved marketing plan for Fiscal Year 2014. but these services would sd|| be subject to all other applicable provisions of the /\gnoernnnt, induding, but not limited to, audit, indernDity, iDSUranoe, reporting, etc. This program serves the entire City. FISCAL INFORMATION / CERTIFICATION: The Financial Management Services Director certifies that upon adoption of the attached supplemental appropriation OrdiOaDCe, funds will be @vai|@N8 in the current operating budget. as appropriated, of the Culture and Tourism Fund. Upon opprVv8|, the assigned fund balance of the Culture and Tourism Fund will exceed the n0iOinlUnn reserve as outlined in the Financial Management Policy Bt8L8[Denta, FUND CENTERS:GG04 539120 0241000 �50�00-00 GG04 539120 0241000 $150,000D00 CERTIFICATIONS:Submitted for CitV Manager's Office by: Susan A|@nis (8180) Originating Department Head: Kirk Slaughter (2501) Additional Information Contact: Betty Tanner (2502)