TITLE: Title
Amendment to FY 2015-16 Budget Ordinance
PURPOSE: To recognize and appropriate revenues provided by the Carrboro Tourism Development Authority for support of recreation and parks programs and marketing efforts of economic and community development.
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DEPARTMENT: Finance
CONTACT INFORMATION: Arche McAdoo, 918-7439
INFORMATION: The Carrboro Tourism Development Authority included in its FY 2015-16 adopted budget $22,000 for support of several Town festivals carried out by the Town’s Recreation and Parks Department. The festivals and amount of funds to be provided by the CTDA are:
Musical Festival $11,000
Film Festival $ 9,200; and
Poetry Festival $ 2,000.
Additionally, the CTDA agreed to support the marketing efforts of the Economic and Community Development Department. Funds in the amount of $3,359 have been awarded to the Town for this effort.
In order to utilize these funds, the Board needs to appropriate these funds for expenditure through an amendment to the budget ordinance.
FISCAL & STAFF IMPACT: With the above funding from the CTDA, funds available for expenditure for the Music Festival increases from $35,500 to $46,500; Film Festival increases from $13,950 to $23,150; Poetry Alive Festival increases from $4,250 to $6,250; and Economic and Community Development advertising increases from $1,000 to $4,359. The total adopted budget increases from $21,572,647 to $21,598,206.
RECOMMENDATION:r The staff recommends that the Board of Aldermen adopt the attached amendment for the FY 2015-16 Budget Ordinance.