City of Colorado Springs - File #: 22-256

• File #: 22-256
• Version: 2
• Type: Ordinance
• Status: Mayor's Office
• File created: 4/18/2022
• In control: City Council
• Final action: 6/28/2022
• Title: Ordinance No. 22-32 amending Ordinance No. 21-112 (2022 Budget Appropriation Ordinance) for a Supplemental Appropriation to the General Fund in the amount of $34,617,510 and to the Lodgers and Auto Rental Tax (LART) Fund in the amount of $603,284, for the retention and refund of 2021 fiscal year revenue above the 2021 fiscal year revenue and spending limitations (TABOR cap); and a Supplemental Appropriation to the newly established Wildfire Mitigation Fund in the amount of $1,000,000 which represents the 2022 expenditure budget and is funded by a $20,000,000 transfer from the General Fund for the purposes stated in Ballot Issue 2D approved by voters in the November 2021 coordinated election; and with $15,220,794 refunded to residents Presenter: Charae McDaniel, Chief Financial Officer

Date	Ver.	Action By	Action	Result
6/28/2022	1	City Council	finally passed	Pass
6/14/2022	1	City Council	approved on first reading	Pass
5/23/2022	1	Council Work Session	referred

Title
Ordinance No. 22-32 amending Ordinance No. 21-112 (2022 Budget Appropriation Ordinance) for a Supplemental Appropriation to the General Fund in the amount of $34,617,510 and to the Lodgers and Auto Rental Tax (LART) Fund in the amount of $603,284, for the retention and refund of 2021 fiscal year revenue above the 2021 fiscal year revenue and spending limitations (TABOR cap); and a Supplemental Appropriation to the newly established Wildfire Mitigation Fund in the amount of $1,000,000 which represents the 2022 expenditure budget and is funded by a $20,000,000 transfer from the General Fund for the purposes stated in Ballot Issue 2D approved by voters in the November 2021 coordinated election; and with $15,220,794 refunded to residents

Presenter:
Charae McDaniel, Chief Financial Officer

Body
Summary:
By Resolution No. 121-21, City Council referred a ballot question to the qualified registered electors of the City at the November 2, 2021 coordinated election which also constitutes a special municipal election. The ballot question asked the voters whether the City may retain $20,000,000 to be placed in a special fund, the Wildfire Mitigation Fund, to be used to increase City-wide and Pikes Peak region wildfire mitigation, prevention and evacuation planning efforts.

There are three (3) parts to this supplemental appropriation:

(1) Supplemental appropriation to the General Fund in the amount of $34,617,510, representing the amount of revenue in excess of the TABOR cap that was placed into the General Fund Restricted Fund Balance at the end of 2021. Of this amount, $20,000,000 will be transferred to the Wildfire Mitigation Fund and $14,617,510 will be refunded to residents.

(2) Supplemental appropriation to the LART Fund in the amount of $603,284, representing the amount of revenue in excess of the TABOR cap that was placed into the LART Fund Restricted Fund Balance at the end of 2021. This amount of $603,284, along with $14,617,510 from the Genera...