HomeMy WebLinkAboutOrdinance - 2015-O0065 - Budget Amendment 26 - 06/25/2015Reading Second Reading
11, 2015 U ` % June 25, 2015
No. 6.5 Item No. 5.1
ORDINANCE NO. 2015-00065
AN ORDINANCE AMENDING THE FY 2014-15 BUDGET FOR MUNICIPAL
PURPOSES RESPECTING THE OPERATING BUDGET FOR 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 2014-15
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 2014-15 (Budget Amendment 426) for
municipal purposes, as follows:
I. Approve the amendments to the Adopted FY 2014-15 Operating Budget for
Market Lubbock, Inc. (MLI) — Lubbock Convention and Visitors Bureau, as
illustrated in Exhibit A.
II. Approve the amendments to the Adopted FY 2014-15 Operating Budget for
MLI — Lubbock Sports Authority, as illustrated by Exhibit A.
SECTION 2. TI IAT 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.
u
AND IT IS SO ORDERED
Passed by the City Council on first reading on June 11, 2015
Passed by the City Council on second reading on June 25,2015
j-, �//
G C.9OT3ERTSON, MAYOR
ATTEST:
Reb cca Garza
Cit ceretary
APPROVED AS TO CONCENT:
0,L(yk V
Cheryl Arock
Executive Director of Budget
APPROVED AS TO FORM:
Amy/i�u
Assi ity Attorney
ecdocs/BudgeiFY 1415.Amcnd26.ord
May 27, 2015
City of Lubbock, TX
Fiscal Policy Department
Market Lubbock, Inc. - Visit Lubbock, Inc.
and Market Lubbock, Inc. - Lubbock Sports Authority
Proposed FY 2014-15 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. MLI - Visit Lubbock, Inc.
Approved Budget Proposed Revised Change
FY 2014-15 FY 2014-15 from Approved
$ 8,216 8,216
2,763,986 2,519,127 (244,859)
3,500 3,500
34,000 34,000
801,700
801,700
2,809,702
2,564,843
(244,859)
158,479
418,639
260,160
2,968,181
2,983,482
15,301
801,700
801,700
169,640
169,640
1,292,725
1,254,475
(38,250)
237,711
248,336
10,625
96,900
145,350
48,450
8,500
21,250
12,750
110,000 125,000 15,000
251,005 217,731 (33,274)
$ 2,968,181 2,983,482 15,301
City of Lubbock, TX
Fiscal Policy Department
Market Lubbock, Inc. - Visit Lubbock, Inc.
and Market Lubbock, Inc. - Lubbock Sports Authority
Proposed FY 2014-15 Budget Revision
EXHIBIT A
EXPENSES
Compensation
MLI - Sports Authority
MLI - Sports Authority
Benefits
Approved Budget
Proposed Revised
Change
FUNDING SOURCES
FY 2014-15
FY 2014-15
from Approved
Interest Earnings
$ 2,184
2,184
1,875
Hotel/Motel Tax
865,928
789,216
(76,712)
Hotel/Motel Tax True -Up
-
-
2,250
Event Revenue
35,000
35,000
(70,000)
Grant fromVisit Lubbock
251,005
217,731
(33,274)
Total Revenue Sources
1,154,117
1,044,131
(109,986)
Utilization of Net Assets
27,967
73,878
45,911
TOTAL FUNDING SOURCES
1,182,084
1,118,009
(64,075)
EXPENSES
Compensation
201,800
201,800
Benefits
36,460
36,460
Marketing & Promotions
283,275
276,525
(6,750)
Maintenance & Operations
41,949
43,824
1,875
Professional Services
17,100
25,650
8,550
Capital Outlay
1,500
3,750
2,250
Servicing
600,000
530,000
(70,000)
Grant to Visit Lubbock
-
-
TOTAL EXPENSES
$ 1,182,084
1,118,009
(64,075)