Executive/Council Action Form (ECAF)
ITEM TITLE:
Title
Ordinance 22-075, related to the 2022 Budget; making an emergency appropriation in the Evergreen State Fairgrounds Capital Improvements and Operating Reserve Fund 180 to authorize expenditure of prior year surplus revenues and admission tax revenues to support costs associated with the Fairgrounds
body
DEPARTMENT: Department of Conservation and Natural Resource
ORIGINATOR: Jana Notoa
EXECUTIVE RECOMMENDATION: Approved by Ken Klein 12/27/22
PURPOSE: The purpose of this ordinance is to request additional appropriation authority in the General Fund 002 for 2022, for additional expenditures related to 2021 Fairgrounds’ operating surplus, which exceeded the amounts transferred in 2021.
• Each year, Parks and Finance staff work together in assessing the surplus operating revenues for the fairgrounds and attached is the DCNR-Parks Division 2021 Fiscal Recap for the Evergreen State Fairgrounds. In 2021, Admission Tax revenue of $ 200,000 was transferred as a budgeted operating transfer out to Fund 180; which was less than the $213,383 actually collected, requiring the additional amount of $13,383 to be transferred. Of the total 2021 Operating Surplus of $5,577, no transfer took place in 2021 leaving the full operating surplus of $5,577 to be recognized.
• An Emergency Appropriation in General Fund 002 and Fairgrounds Cumltv Reserve Fund 180 in the amount of $19,160 will provide the operating transfer and spending authority for the balance of surplus and admission tax funds to be recognized.
• Through this action and the accompanying Ordinance, the surplus balance of operating revenues can be transferred for expenditure authority into the Fairgrounds Reserve fund for Capital Improvements per SCC 4.87.050 (2)
• The 2021 Fair was the first fair after the shutdown of 2020 due to covid. We had a wave of the delta variant coincide with the timeframe of our fair resulting in lower than expected attendance and revenue, although revenues were able to cover all Fair expenses, with a minimal operating surplus.
BACKGROUND: Click or tap here to enter text.
FISCAL IMPLICATIONS:
|
EXPEND: FUND, AGY, ORG, ACTY, OBJ, AU |
CURRENT YR |
2ND YR |
1ST 6 YRS |
|
002.5169905543 Transfer Out - Fund 180 |
$19,160 |
|
|
|
180.5095456501 Construction |
$19,160 |
|
|
|
|
|
|
|
|
|
|
|
|
|
TOTAL |
$38,320 |
|
|
|
REVENUE: FUND, AGY, ORG, REV, SOURCE |
CURRENT YR |
2ND YR |
1ST 6 YRS |
|
002.3169900800 Beginning Fund Balance |
$19,160 |
|
|
|
180.3095459720 Transfer In-Fund 002 |
$19,160 |
|
|
|
|
|
|
|
|
|
|
|
|
|
TOTAL |
$38,320 |
|
|
DEPARTMENT FISCAL IMPACT NOTES: Click or tap here to enter text.
CONTRACT INFORMATION:
|
ORIGINAL |
|
CONTRACT# |
|
AMOUNT |
|
|
AMENDMENT |
|
CONTRACT# |
|
AMOUNT |
|
Contract Period
|
ORIGINAL |
START |
|
END |
|
|
AMENDMENT |
START |
|
END |
|
OTHER DEPARTMENTAL REVIEW/COMMENTS: Reviewed/approved by Finance - Brian Haseleu 12/22/22