City and County of Denver - File #: 17-1316

• File #: 17-1316
• Version: 1
• Type: Bill
• Status: Passed
• File created: 11/13/2017
• In control: Finance & Governance Committee
• On agenda: 12/4/2017
• Title: A bill for an ordinance authorizing a transfer of cash from the Excise Tax Base Account to the "Excise Tax Reserve" Grant and Other Money Projects Fund as part of the Series 2016 Bond financing structure. Transfers and appropriates $7,173,070 to the newly established Excise Tax Reserve Capital Special Revenue Fund No. 38421 as part of the Series 2016 Bond financing structure. The Committee approved filing this bill by consent on 11-21-17.
• Indexes: Shelley Smith

Date	Ver.	Action By	Action	Result
12/12/2017	1	Mayor	signed
12/12/2017	1	Council President	signed
12/11/2017	1	City Council	placed upon final consideration and do pass	Pass
12/4/2017	1	City Council	ordered published on first reading
11/21/2017	1	Finance & Governance Committee	approved by consent

Finance Item/Grant Request Template

Date Submitted: 11-14-17

Requesting Agency: Finance
Division:

* Name: Laura Perry
* Phone: 720-913-5537
* Email: laura.perry@denvergov.org

Item Title & Description:
(Do not delete the following instructions)
These appear on the Council meeting agenda. Initially, the requesting agency will enter a 2-3 sentence description. Upon bill filling, the City Attorney's Office should enter the title above the description (the title should be in bold font).

Both the title and description must be entered between the red "title" and "body" below. Do not at any time delete the red "title" or "body" markers from this template.
title
A bill for an ordinance authorizing a transfer of cash from the Excise Tax Base Account to the "Excise Tax Reserve" Grant and Other Money Projects Fund as part of the Series 2016 Bond financing structure.
Transfers and appropriates $7,173,070 to the newly established Excise Tax Reserve Capital Special Revenue Fund No. 38421 as part of the Series 2016 Bond financing structure. The Committee approved filing this bill by consent on 11-21-17.
body

Affected Council District(s) or citywide? Citywide

Executive Summary with Rationale and Impact:
Detailed description of the item and why we are doing it. This can be a separate attachment.
This request seeks approval for the transfer and appropriation of $6,453,206 in 2C excise tax overperformance received in 2016 and $719,864 received in 2017 due to excess revenue derived from the City and County of Denver's recent settlement surrounding hotel lodgers tax revenue for a total appropriation of $7,173,070. The funds will be transferred from fund 25500 and appropriated to the new Excise Tax Reserve Fund (38421) pending City Council approval, once established.

Type (choose one: Grant; Supplemental; Fund Creation; Fund Rescission; Fund Transfer; Appropriation; Other): Transfer and appropriation

Amount: $7,173,070

Budget Year:

Fund and Funding Sou...