HomeMy WebLinkAbout5/16/2007 - STAFF REPORTS - 2.K. Al��yALM SA4
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C�`f FOP.14 CITY COUNCIL STAFF REPORT
DATE: May 16, 2007 CONSENT AGENDA
SUBJECT: ADOPTION OF RESOLUTION ESTABLISHING NEW FUNDS FOR
THE NEW DOWNTOWN BUSINESS IMPROVEMENT DISTRICT
AND FOR THE AIRPORT'S CUSTOMER FACILITY CHARGES
FROM: David H. Ready, City Manager
BY: Department of Finance and Treasury
SUMMARY
The attached resolution establishes new funds for the new Downtown Business
Improvement District and the Airport's new Customer Facility Charges.
RECOMMENDATION:
1. Adopt Resolution No. "A RESOLUTION OF THE CITY COUNCIL
OF THE CITY OF PALM SPRINGS AUTHORIZING THE
ESTABLISHMENT OF NEW SPECIAL REVENUE FUNDS TO BE
CALLED THE DOWNTOWN BUSINESS IMPROVEMENT DISTRICT
FUND AND THE AIRPORT CUSTOMER FACILITY CHARGES (CFCs)
FUND AND AUTHORIZING THE DIRECTOR OF FINANCE TO CREATE
THE ACTIVITIES (COST CENTERS) AND ACCOUNT NUMBERS
STAFF ANALYSIS:
Earlier this year the City Council approved the establishment of a new Business
Improvement District for the downtown area. The City Council has also
established a new fee at the airport for the improvement of rental cars facilities
and operations called a customer facility charge_ Both of these activities require
the establishment of separate funds to segregate and track revenues,
expenditures and transfers dealing with these activities. Only the City Council
can establish a new fund.
Item 2 . K .
City Council Staff Report
March 16, 2007—Page 2
Establish Funds for Customer Facility Charges and Downtown Business Improvement
District.
The attached resolution would establish Fund No. 405 for Customer Facility
Charges and Fund No. 129 for the Downtown Business Improvement District.
FISCAL IMPACT:
None_
Crai . Graves, Director of Finance and r L. Bu a ssistant City
Tr surer a ger— m trative Services
David H. Ready, City an
Attachments:
Resolution
RESOLUTION NO_
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF
PALM SPRINGS AUTHORIZING THE ESTABLISHMENT OF
NEW SPECIAL REVENUE FUNDS TO BE CALLED THE
DOWNTOWN BUSINESS IMPROVEMENT DISTRICT FUND
AND THE AIRPORT CUSTOMER FACILITY CHARGES (CFCs)
FUND AND AUTHORIZING THE DIRECTOR OF FINANCE TO
CREATE THE ACTIVITIES (COST CENTERS)AND ACCOUNT NUMBERS
WHEREAS,the City has established a Downtown Business Improvement District; and
WHEREAS,the City has also established a Customer Facility Charge at the Airport; and
WHEREAS,these revenues are required to be segregated; and
WHEREAS,the most efficient method of sea egating the revenue and expenditures is to
Record the transactions in a separate fund.
THE CITY COUNCIL OF TIME CITY OF PALM SPRINGS DOES HEREBY
RESOLVE AS FOLLOWS:
SECTION 1. To create new special revenue funds to be called the Downtown Business
Improvement District Fund and the Airport Customer Facility Charges (CFCs) Fund.
SECTION 2. To direct the Director of Finance and Treasurer to record the appropriate
receipts, expenditures and transfers in these funds_
SECTION 3. To authorize the Director of Finance and Treasurer to create the appropriate
activities(cost centers) and account numbers, as necessary.
ADOPTED THIS 16`h day of May, 200T
David H. Ready, City Manager
ATTEST:
James Thompson, City Clerk