HomeMy WebLinkAbout11-01-16 Emergency Item - Founder's Day 2016 Expenditures ocoee
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AGENDA ITEM COVER SHEET
Meeting Date: November 1, 2016
Item # 4.0iorpng.r S'tcrr7
Reviewed By:
Contact Name: Robert Frank Department Director:
Contact Number: 1502 City Manager: Robert F
Subject: Founder's Day 2016 Expenditures
Background Summary:
Founder's Day expenditures/invoices are typically presented to the City for payment prior to revenues being
received from vendors and sponsors. For this year's event, there was a $13,721.00 deficit in the Founder's Day
Account from 2015 and current outstanding invoices of approximately $85,000. Remaining sponsorship
receivables are estimated at $40,000, beverage sales and ride concessions are expected to bring in $45,000 or
more. Expenditures requests presented though October 27, 2016 have been paid.
Issue:
Expenditures must be authorized and funds transferred to cover Founder's Day 2016 until sponsorship and
vendor payments are received.
Recommendations
Staff recommends the City Commission authorize the expenditures processed during the week of October 27
for Founder's Day 2016 and authorize transfers as follows from general fund:
$13,721.00 from 001-516-00-4900 and
$86,280.00 from 001-572-00-4004 to 113-36-0000
Attachments:
None
Financial Impact:
Revenues received will be redirected to these accounts as received, and are anticipated to cover the majority of
funds transferred above.
Type of Item: (please mark with an "x")
Public Hearing For Clerk's Dept Use:
Ordinance First Reading Consent Agenda
Ordinance Second Reading Public Hearing
Resolution Regular Agenda
X Commission Approval
Discussion&Direction