Print
Reading Mode
Return
25.
Regular City Council
Meeting Date:
04/22/2024
Submitted For:
Mike Miller
Initiator:
Mike Miller, City Manager
Department:
City Manager
Staff Information Source:
Information
AGENDA ITEM TITLE:
Consider directing Staff to prepare a budget amendment, transferring funds in the amount of $455,000.00 from the City’s Hotel/Motel Tax Fund, to the Muskogee Tourism Authority, to be restricted for tourism capital expenditures or support for major tourism projects. (Mayor Patrick Cale and Councilmember Jaime Stout)
BACKGROUND:
The City of Muskogee’s Hotel/Motel tax fund has a balance carryover from previous years when revenues exceeded expenditures.
Hotel/Motel taxes may only be used for tourism related expenses.
The City Council has appropriated a total of $90,000 in Hotel/Motel tax carryover funds this fiscal year for tourism purposes. The Council has appropriated $30,000 to assist the Bass Nation fishing tournament; $15,000 for the NJCAA tournament; $35,000 for supplemental funding for the Roxy Theater; $10,000 for sponsorship of the Oklahoma Music Hall of Fame induction ceremony.
Rather than the city council budgeting these one-time use funds for tourism expenses, this proposal gives the funds to the Muskogee Tourism Authority with restrictions that it could not be used for operations but only for capital expenditures (i.e. expansion of amenities at Hatbox) or major event recruitment (i.e. Bassmaster Nationals).
This proposal asks the Council to direct staff to prepare a budget amendment to transfer $455,000 of the carryover funds to the Muskogee Tourism Authority. This will leave approximately $100,000 in reserve funding for cash flow purposes.
The proposal would also direct staff to create an additional document for council approval to further define the restrictions on the funds that are transferred.
RECOMMENDED ACTION:
Approve the item, or take other necessary action.
Fiscal Impact
Attachments
No file(s) attached.
AgendaQuick ©2005 - 2024 Destiny Software Inc.
All Rights Reserved.