HomeMy WebLinkAboutOrdinance - 2016-O0080 - Budget Amendment 23 - 05/26/2016First Reading Second Reading
Item No.5.4 Item No.5.1
May 12,2016 May 26, 2016
ORDINANCE NO.2016-00080
AN ORDINANCE AMENDING THE FY 2015-16 BUDGET FOR MUNICIPAL
PURPOSES RESPECTING THE OPERATING BUDGET FOR LUBBOCK
ECONOMIC DEVELOPMENT ALLIANCE,INC.,(LEDA).MARKET LUBBOCK,
INC.(MLI)-LUBBOCK CONVENTION AND VISITORS BUREAU (VISIT
LUBBOCK),AND MLI -LUBBOCK SPORTS AUTHORITY;PROVIDING FOR
FILING;AND PROVIDING FOR A SAVINGS CLAUSE.
WHEREAS,Section 102.010 of the Local Government Code of the State of
Texas authorizes the City Council to make changes in the budget for municipal
purposes;and
WHEREAS,in accordance with the City Budget Ordinance the City Council
shall approve all transfers between funds and departments;and
WHEREAS,the City Council deems it advisable to change the FY 2015-16
Budget for municipal purposes and reallocate funds as follows;NOW.THEREFORE,
BE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF LUBBOCK:
SECTION 1.THAT the City Council of the City of Lubbock hereby approves
changes to the City of Lubbock Budget FY 2015-16 (Budget Amendment #23) for
municipal purposes,as follows:
I.Approve the amendments to the adopted FY 2015-16 Operating Budget for
Lubbock Economic Development Alliance,Inc..(LEDA)as shown in Exhibit
A.
II.Approve the amendments to the adopted FY 2015-16 Operating Budget for
Market Lubbock,Inc.(MLI)-Lubbock Convention and Visitors Bureau as
shown in Exhibit A.
III. Approve the amendments to the adopted FY 2015-16 Operating Budget for MLI
-Lubbock Sports Authority as shown in Exhibit A.
SECTION 2. THAT a copy of the changes made to the City of Lubbock
Budget pursuant to this Ordinance shall be filed with the City Secretary and County
Clerk of Lubbock as required by law.
SECTION 3. THAT should any section,paragraph, sentence,clause,phrase
or word of this Ordinance be declared unconstitutional or invalid for any reason, the
remainder of this Ordinance shall not be affected thereby.
AND IT IS SO ORDERED
Passed by the City Council on first reading on May 12, 2016
Passed by the City Council on second reading on May 26, 2016
DANIEL M. POPE, MAYOR
ATTEST:
Reb ca Garza
City'Secretary
APPROVED AS TO CONTENT:
Cheryl &rock
Executive Director of Budget
APPROVED AS TO FORM:
c
Am s
sist rty Attorney
ccdmsBudgctFY 1516.Amend23. urd
April 27, 2016
City of Lubbock, TX
Finance Department
Lubbock Economic Development Alliance, Inc.
Market Lubbock, Inc. - Visit Lubbock, Inc.
and Market Lubbock, Inc. - Lubbock Sports Authority
Proposed FY 2015-16 Budget Revision
EXHIBIT A
FUNDING SOURCES
Interest Earnings
Sales Tax
Grant from Market Lubbock, Inc.
Grant from U.S. Commerce Dept./EDA
Other Income
Total Revenue Sources
Utilization of Net Assets
TOTAL FUNDING SOURCES
EXPENSES
Compensation
Benefits
Marketing & Promotions
Maintenance & Operations
Professional Services
Capital Outlay
Debt Service
Incentive Payments
Special Projects
TOTAL EXPENSES
LEDA
Approved Budget
FY 2015-16
$ 62,111
5,774,154
1,390,996
LEDA
Proposed Revised
FY 2015-16
62,111
5,774,154
1,390,996
Change
from Approved
18,320
18,320
7,245,581
7,245,581 -
3,322,298
4,613,298 1,291,000
10,567,879
11,858,879 1,291,000
1,223,900
1,223,900 -
297,184
297,184 -
661,500
661,500 -
716,195
716,195 -
259,100
259,100 -
3,216,300
5,217,300 2,001,000
2,650,700
1,320,700
(1,330,000)
1,543,000
2,163,000
620,000
$ 10,567,879
11,858,879
1,291,000
City of Lubbock, TX
Finance Department
Lubbock Economic Development Alliance, Inc.
Market Lubbock, Inc. - Visit Lubbock, Inc.
and Market Lubbock, Inc. - Lubbock Sports Authority
Proposed FY 2015-16 Budget Revision
EXHIBIT A
FUNDING SOURCES
Interest Earnings
Hotel/Motel Tax
Hotel/Motel Tax True -Up
Sale of Promotional Items
Advertising Income
Grant from Lubbock Sports Authority
Other Income
Total Revenue Sources
Utilization of Net Assets
TOTAL FUNDING SOURCES
EXPENSES
Compensation
Benefits
Marketing & Promotions
Maintenance & Operations
Professional Services
Capital Outlay
Special Projects
Incentives
Grant to Lubbock Sports Authority
TOTAL EXPENSES
MLI - Visit Lubbock, Inc.
Approved Budget
FY 2015-16
$ 8,848
3,067,349
2,500
34,000
MLI - Visit Lubbock, Inc.
Proposed Revised Change
FY 2015-16 from Approved
8,848
3,067,349 -
173,307 173,307
2,500 -
34,000
3,112,697
3,286,004 173,307
158,479
- (158,479)
3,271,176
3,286,004 14,828
843,700
843,700
187,300
187,300 -
1,254,475
1,347,265 92,790
271,540
266,348 (5,192)
152,405
137,360 (15,045)
22,950
22,950
120,000 150,000 30,000
260,327 331,081 70,754
$ 3,112,697 3,286,004 173,307
City of Lubbock, TX
FUNDING SOURCES
Interest Earnings
Hotel/Motel Tax
Hotel/Motel Tax True -Up
Event Revenue
Grant fromVisit Lubbock
Total Revenue Sources
Utilization of Net Assets
TOTAL FUNDING SOURCES
EXPENSES
Compensation
Benefits
Marketing & Promotions
Maintenance & Operations
Professional Services
Capital Outlay
Servicing
Grant to Visit Lubbock
TOTAL EXPENSES
Finance Department
Lubbock Economic Development Alliance, Inc.
Market Lubbock, Inc. - Visit Lubbock, Inc.
and Market Lubbock, Inc. - Lubbock Sports Authority
Proposed FY 2015-16 Budget Revision
EXHIBIT A
MLI -Sports Authority MLI -Sports Authority
Approved Budget
Proposed Revised
Change
FY 2015-16
FY 2015-16
from Approved
$ 2,352
2,352
823,109
823,109
-
-
54,296
54,296
87,500
87,500
-
260,327
331,081
70,754
1,173,288
1,298,338
125,050
1,173,288 1,298,338 125,050
210,600
210,600
40,300
40,300
-
276,525
305,145
28,620
47,918
47,003
(915)
26,895
24,240
(2,655)
4,050
4,050
-
567,000
667,000
100,000
$ 1,173,288 1,298,338 125,050