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Approve the Miscellaneous Budget Ordinance Amendment to Adjust Various Fund Budgets for FY 2022-23.
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Staff:
Department:
Amy Oland, Director
Business Management Department
Matt Brinkley, Assistant Director
Overview: After the Council approves the annual budget, periodic changes require the Town to amend the current budget.
Recommendation(s):
That the Council:
* Enact the attached budget ordinance amendment to adjust the General Fund, Debt Fund, Parking Fund, Capital Improvement Fund, Grants Fund, Library Gift Fund, Transit Fund and Vehicle Maintenance Fund; and
* Enact the attached project ordinance amendments to adjust the Capital Project Ordinance Fund and the Transit Capital Grants Fund.
Key Issues:
* General Fund
Collaborative Outreach Program - Orange County established a Collaborative Outreach program (Sales Tax Article 46), making funds available for economic development programs that aid in job creation, drive economic growth, support existing businesses, recruit new businesses, and promote other activities such as innovation and entrepreneurial growth, agri-tourism and agriculture in Orange County. Orange County has allocated $38,022 in funding based on population for each county municipality. Chapel Hill uses the funds for various economic development projects, including planning, entrepreneur support, and marketing. Enactment of the attached budget ordinance amendment would recognize and appropriate the $38,022 in Article 46 funds from Orange County.
Visitor's Bureau - The performance agreement between the Town of Chapel Hill and the Chapel Hill/Orange County Visitors Bureau states that the Town will pay the Visitors Bureau 50% of any occupancy tax revenues received greater than $1,000,000. In FY 2022, the Town received $1,297,315 in occupancy tax receipts. Fifty percent of $297,315, or $148,658, is therefore due to the Visitors Bureau. Enactment of the attached budget ordinance amendment would reflect the additional payment of...
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