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County Administrator's Report 10. 32.

BCC Regular Meeting

Budget & Finance Consent

Meeting Date:	06/25/2015
Issue: Reallocation of Tourist Development Tax Funding
From:	Stephan Hall
Department:	OMB
CAO Approval:

RECOMMENDATION:

Recommendation Concerning Allocation of Funds - Stephan Hall, Interim Management and Budget Department Director

That the Board take the following action concerning the allocation of the overage available in the Tourist Promotion Fund (108):

A. Rescind the Board’s action of March 19, 2015, CAR III-1, Item “D,” approving the allocation of $125,000 to Banks Enterprise, to be used for the performance of the Gulf Coast Summerfest Music Festival; and

B. Approve the allocation of $125,000, of the overage available in the Tourist Promotion Fund (108), to the Pensacola Bay Center, to be paid from the Pensacola Bay Center's Operating Fund, to be used for the performance of the Gulf Coast Summerfest Music Festival.

[Funding: Fund 108, Tourist Promotion Fund, Cost Center 360105, Object Code 58201]

BACKGROUND:

On March 19, 2015, the Board approved allocating $125,000 in Tourist Development Tax overage to Banks Enterprise, to be used for the performance of the Gulf Coast Summerfest Music Festival. Banks Enterprise will now be working in conjunction with the Pensacola Bay Center to pay the expenses associated with the Summerfest Music Festival using the allocated funds by the County. All payment reimbursements will come through the Pensacola Bay Center for Banks Enterprise.

BUDGETARY IMPACT:

Funding: Fund 108, Cost Center 360105, Object Code 58201.

LEGAL CONSIDERATIONS/SIGN-OFF:

N/A

PERSONNEL:

N/A

POLICY/REQUIREMENT FOR BOARD ACTION:

Approval of this Recommendation is necessary because Banks Enterprise is now working in conjunction with the Pensacola Bay Center. All payment reimbursements will come through the Pensacola Bay Center for Banks Enterprise.

IMPLEMENTATION/COORDINATION:

N/A

Attachments
Board's Meeting Minutes Page - 3-19-2015