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The total amount requested and approved resulted in an increase of $70,890.00 due in part <br />to possible loss of funding from the State to Visit Florida. <br />Proposed discussion on new allocation formula. <br />80% of the "A" unencumbered funds to be distributed to agencies listed above who <br />have historically received the Tourist funds <br />20% of the "A" unencumbered funds to be distributed as follows: <br />- 5% or $75,000 (whichever is greater) dedicated to Passenger Aviation <br />Marketing to be used solely to promote and advertise tourism to our area <br />- 10% dedicated to new "Authorized Uses of Revenue" as listed in Florida <br />Statute 125.0104 <br />- 5% Reserve Funds to be maintained until 10% of the prior year's <br />unencumbered operating budget, then 5% to be moved into the newly <br />adopted expense categories <br />Items "B & C' will continue to be collected and dispersed as in prior years. <br />It is understood that the use of local funds for capital expenditures would require a change in <br />the Comprehensive Plan to adopt the new Authorized Uses of Revenue listed in Florida <br />Statute. <br />Attachments: <br />1) Florida Statute 125.0104 approved in 1987 <br />2) Indian River County Ordinance 2000-029 <br />3) Florida Statute 125.0104 approved update in 2018 <br />2 185 <br />