Vote — approved

Jack Sellers	yes
Thomas Galvin	yes
Bill Gates	yes
Clint Hickman	yes
Steve Gallardo	yes

Ayes: Jack Sellers, Thomas Galvin, Bill Gates, Clint Hickman, Steve Gallardo

Item Text

111. APPROPRIATION ADJUSTMENTS FOR STADIUM DISTRICT Approve the following adjustments to the FY 2024 Stadium District Budget: a) Increase the revenue and expenditure authority for the Stadium District (D680) Cactus League Operations Fund (F250) Operating (OPER) budget by $2,000,000. b) Increase the expenditure authority for the Stadium District (D680) Ballpark Operations Fund (F253) Non-Recurring Non-Project (NRNP) budget by $ 100,000. This action will adjust the Stadium District Cactus League Operations Fund revenue and expenditure budgets to reflect the receipt of Car Rental Surcharge Revenues from the State of Arizona Treasurer in compliance with A.R.S. §48-4234 Paragraph G and subsequent disbursement of revenues to the Arizona Sports and Tourism Authority (Authority) in accordance with the Agreement between the District and Authority dated October 22, 2003, and amended on November 1, 2023. The increase in expenditure authority for Stadium District Ballpark Operations Fund will allow for additional disbursements not included in the FY2024 adopted budget. District revenues are not local revenues for the purpose of the constitutional expenditure limitation and therefore expenditures of these revenues are not subject to the constitutional expenditure limitation. The approval of this action requested does not alter the budget constraining the expenditure of local revenues duly adopted by the Board pursuant to A.R.S. §42-17105. (C-18-24-140-X-00)

Attachments (1)