HomeMy WebLinkAbout151-13 RESOLUTIONRESOLUTION NO.151-13
A RESOLUTION APPROVING A BUDGET ADJUSTMENT IN THE TOTAL
AMOUNT OF $8,000.00 TO RECOGNIZE ADDITIONAL REVENUE
GENERATED THROUGH OPERATION OF THE MEADOW STREET
MUNICIPAL PARKING DECK
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
FAYETTEVILLE, ARKANSAS:
Section 1: That the City Council of the City of Fayetteville, Arkansas hereby approves a
budget adjustment, a copy of which is attached as Exhibit "A", in the total amount of $8,000.00
to recognize additional revenue generated through operation of the Meadow Street Municipal
Parking Deck.
PASSED and APPROVED this 2nd day of July, 2013.
APPROVED: ATTEST:
10.1
SOND1kA E. SMITH, City Clerk/Treas��r
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City of Fayetteville, Arkansas
Budget Adjustment Form
V12.0724
Budget Year Division: Parking & Telecommunications Request Date Adjustment Number
2013 Department: Utilities Director 6/11 /2013
BUDGET ADJUSTMENT DESCRIPTION / JUSTIFICATION
To recognize revenues generated by the Meadown Street Municipal Parking Deck (levels one and three).
Prepared By: Sharon Waters
Division Head Date S Waters
? ��� Reference:
t Dir&dor (f Date Budget & Research Use Only
Type: A B C D E P
Dep itme Director Date
RJAq (�.��, ,�, 6 I '.- 7iot3 General Ledger Date
Finance Director Date
Posted to General Ledger
C lef f Staf Date Initial Date
i
O `j Checked / Verified
M or Date Initial Date
TOTAL BUDGET ADJUSTMENT 8,000 8,000
Increase / (Decrease) Project.Sub
Account Name Account Number Expense Revenue Number
Trans to Hotel 2130.9130.5711.03 i3 8,000 .
Rent -Hotel Parking Rev 2130.0913.4426.08 u 3,000
Rent-3rd Level 2130.0913.4426.06 u 5,000 .
J:Wy Documents\PARKINGNunicipal Deck\BA for Hotel Deck Revenue - 2013
1 of 1
City of Fayetteville Staff Review Form
Sharon Waters
Submitted By
City Council Agenda Items
and
Contracts, Leases or Agreements
7/2/2013
City Council Meeting Date
Agenda Items Only
Parking Management
Division
Utilitiies Services
Department
Action Kequirea:
Resolution to approve a budget adjustment in the amount of $8,000.00 to recognize additional revenues generated
the Meadow Street Municipal Parking Deck.
$ 7,000.00
Cost of this request
2130-0913-4426-08
2130-0913-4426-06
Account Number
Category / Project Budget
2,160.00
$ 3,709.00
Funds Used to Date
(5,869.00)
Parking Revenue
Program Category / Project Name
Mun Deck - Level 1
Mun Deck - Level 3
Program / Project Category Name
Parking Fund
Project Number Remaining Balance Fund Name
Budgeted Item Budget Adjustment Attached
Previous Ordinance or Resolution #
Date
/ Original Contract Date:
Original Contract Number:
Date
4 ( FLJ,„e, a- O - zo13
Finance and Internal Services Director Date Received in City - ? 1 - 1 3 c : 31 c V
Clerk's Office u
yChiefofff Date
Received in /
Mayor's Office
Mayor LIZ Da e
Revised January 15, 2009
EW MZayleevIlle
CITY COUNCIL AGENDA MEMO
THE CITY OF FAYETTEVILLE, ARKANSAS
DEPARTMENT CORRESPONDENCE
To: Mayor Lioneld Jordan and City Council
Thru: Don Marr, Chief of Staff
David Jurgens, Utilities Director
From: Sharon Waters, Parking and Telec munications Manager
Date: June 11, 2013
Subject: Resolution to Approve a Budget Adjustment in the Amount of $8,000.00 to Recognize
Additional Revenues Generated by the Meadow Street Municipal Parking Deck
PROPOSAL:
Last October, the Chancellor Hotel began leasing the first and third levels of the municipal parking
deck located on Meadow Street behind the hotel. Since the reopening of the newly renovated hotel,
parking revenues generated by these two levels has increased. This budget adjustment recognizes
the increase in revenues that is generated by the revenue machines located at the deck, and the
offsetting expense that is transferred back to the hotel.
BACKGROUND:
When the Cosmopolitan Hotel was in full operation and leased both levels of the parking deck, a
revenue budget was established each year in the amount of $6,000.00 to recognize revenue
generated by the revenue machines at the entrance gates at levels one and three. The hotel leases
these two levels from the City of Fayetteville, and by contract, City staff operates the revenue
machines and remits the net revenues back to the hotel.
No funds were budgeted in 2012 due to the hotel being vacant. Now that the hotel is fully operational
now, both of these levels are generating revenue again. We also began accepting credit card
payments at these locations which increased this revenue even more. This budget adjustment will
establish a budget for this revenue in 2013. - - - - -
BUDGET IMPACT:
Anticipated revenues generated from the first and third level of the parking deck are $8,000.00 per
year.
RESOLUTION NO.
A RESOLUTION APPROVING A BUDGET ADJUSTMENT IN THE TOTAL
AMOUNT OF $8,000.00 TO RECOGNIZE ADDITIONAL REVENUE
GENERATED THROUGH OPERATION OF THE MEADOW STREET
MUNICIPAL PARKING DECK
BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF
FAYETTEVILLE, ARKANSAS:
Section 1: That the City Council of the City of Fayetteville, Arkansas hereby approves a
budget adjustment, a copy of which is attached as Exhibit "A", in the total amount of $8,000.00
to recognize additional revenue generated through operation of the Meadow Street Municipal
Parking Deck.
PASSED and APPROVED this 2nd day of July, 2013.
APPROVED:
LIONELD JORDAN, Mayor
ATTEST:
SONDRA E. SMITH, City Clerk/Treasurer