Vote: approved

Item Text

S-6. BUDGET ADJUSTMENTS Due to the level of Auto Rental Surcharge Revenue received by the Stadium District the transfer to the Arizona Sports and Tourism Authority will be larger than originally budgeted; therefore, good cause is found under A.R.S. Section 48-4232 (B) to take the following actions amending the FY 2009 budget. 1. Approve an increase in the transfer in the amount of $318,000 from The Stadium District (680) Debt Series 02 Fund (370) Operating Budget (0000) to the Stadium District (680) Cactus League Operations Fund (250) Operating budget (0000). This will result in an increase in the amount of $318,000 to the expenditure budget for the Stadium District (680) Debt Series 02 Fund (370) Operating Budget (0000) and an increase in the amount of $318,000 to the revenue budget for the Stadium District (680) Cactus League Operations Fund (250) Operating Budget (0000). The above transactions will be offset with corresponding adjustments to Stadium District (680) Eliminations Fund (900) Operating Budget (0000) for a net impact of zero. 2. Approve an increase in the expenditure authority in the Stadium District (680) Cactus League Operations Fund (250) Operating Budget (0000) of $318,000. The action will adjust the District budget to reflect the transfer of the remaining Cactus League monies after debt payments, reserves, and operations to the Arizona Sports and Tourism Authority under the intergovernmental agreement approved on August 27, 2003. (C-68-09-009-2-00)