HomeMy WebLinkAbout09-09-19 City Commission Packet Materials - A7. Res 5080, Amending City's Annual Budget for the TBID Fund Budget for FY20
Commission Memorandum
REPORT TO: Honorable Mayor and City Commission
FROM: Kristin Donald, Finance Director
SUBJECT: Commission Resolution No. 5080 – Amending the City’s Annual Budget
for the Tourism BID Fund Appropriations for the Fiscal Year Ending June
30, 2020 (FY20).
MEETING DATE: September 9, 2019
AGENDA ITEM: Action
RECOMMENDATION: Approve Resolution No. 5080- Amending the City’s Annual
Budget for Tourism BID Fund Appropriations.
BACKGROUND:
The Tourism Business Improvement District (TBID) was created 10 years ago and the district
sunsets September 10, 2019. At the time of the budget, the plans for dissolution had not been
worked out so no appropriation was given for the fund. The District has not been re-created and
the district will be wrapped up and dissolved. We are still working with the Chamber of
Commerce on the details of the dissolution.
This resolution appropriates the assessments collected, $1,198,596, and to bring fund balance $0.
Funding will not be distributed until a final dissolution plan and signed MOU with the Chamber
of Commerce is approved by the Commission.
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ALTERNATIVES: As suggested by the Commission.
FISCAL EFFECTS: The current budgeted spending in the Tourism BID Fund will increase by
a total of $1,198,596. The FY20 estimated ending cash balance in the Tourism BID Fund will be
decreased to $0 and the fund will become inactive with the dissolution of the district.
Attachment: Resolution No. 5080
Report compiled on August 28, 2019
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RESOLUTION NO. 5080
A RESOLUTION OF THE CITY COMMISSION OF THE CITY OF BOZEMAN,
MONTANA, AMENDING FISCAL YEAR 2020 (FY20) TOURISM BID FUND BUDGET
TO INCLUDE ADDITIONAL EXPENDITURES OF $1,198,596.
WHEREAS, the City Commission did, on the 24th day of June, 2019, after due and
proper legal notice, conduct a public hearing and adopt a municipal budget for Fiscal Year 2019-
2020 (Fiscal Year 2020); and
WHEREAS, the City Commission did, on the 9th day of September 2019, after due and
proper legal notice, conduct a public hearing on proposed amending the municipal budget.
NOW, THEREFORE, BE IT RESOLVED by the City Commission of the City of
Bozeman, Montana, to wit:
Section 1 – Appropriation Changes
The City Commission of the City of Bozeman, Montana, does hereby authorize the
following changes to expenditures in the Tourism BID Fund:
Additions: This amount is added to the FY20 budget.
Operations $1,198,596
Total Appropriations Changes: $1,198,596
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Resolution 5080, Budget Amendment for Tourism BID Fund for FY20
Section 2 – Use of Cash on Hand in the Tourism BID Fund
The increased appropriation will be funded with cash on hand in the Tourism BID
Fund.
Section 3
Pursuant to Section 7-6-4030, M.C.A., this resolution, upon its passage, shall be in full
force and effect on July 1, 2019.
Section 4
That should it be found by any court of competent jurisdiction that any section, clause,
portion, sentence, word, or phrase of this resolution is deemed to be contrary to any existing law
or regulations, that in this instance, it is the intent of the City Commission of the City of Bozeman,
Montana, that all other portions, sections, words, clauses, phrases, or paragraphs of this document
shall remain in full force and effect.
PASSED, ADOPTED, AND APPROVED by the City Commission of the City of
Bozeman, Montana, at a regular session thereof held on the 9th day of September, 2019.
___________________________________
CYNTHIA L. ANDRUS
Mayor
ATTEST:
_________________________________
ROBIN CROUGH
City Clerk APPROVED AS TO FORM:
___________________________________
GREG SULLIVAN City Attorney
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