§ 33-96. Budgets of nonprofit organizations applying for funds.

Any entity receiving or applying to receive funds pursuant to subsection 33-92(b)(5) must first submit to the arts and historical preservation advisory board its annual budget, based on the entity's fiscal year, covering all operations of the entity. Each entity must also submit to the arts and historical preservation board, based on a fiscal year beginning October 1 and ending September 30, an annual detailed itemization of requested hotel/motel occupancy tax (HOT) projected revenues and proposed expenditures of such funds. No expenditure may be made by any recipient until its HOT itemized budget has been approved by the city council, and no funds derived hereunder may be pledged in advance, hypothecated or otherwise offered as security for any loan or other obligation except upon approval by the city council. Each detailed itemization submitted by an applicant shall pertain to revenues and expenditures for the fiscal year next ensuing and shall be submitted not later than thirty (30) days prior to October 1 commencement of such award period. Such submittals shall be on the form developed and provided by the advisory board. No tax funds shall be expended on preparation of such itemization or annual budget. Acceptance and approval of an applicant or recipient's itemization shall in no manner be construed as a guarantee or representation that such applicant or recipient will receive the amount of funds represented therein, and no claim for funds may be made against the city and/or park board of trustees for any hotel tax funds not actually received and collected.

(Ord. No. 83-34, § 1, 6-2-83; Ord. No. 83-93, § 1, 9-22-83; Ord. No. 93-77, § 2, 8-12-93; Ord. No. 93-89, § 2, 9-9-93; Ord. No. 07-037, § 2, 5-10-07)