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Policy Statements Continued <br /> ANNUAL FUNDING In July of each year, the Budget and Finance Committee will <br /> LEVEL determine the annual funding, from sources approved by the City <br /> Council, which shall be equivalent to the amount of hotel/motel <br /> tax funds available for distribution for that year. The following <br /> analysis will be used: <br /> RESOURCES <br /> Beginning Fund Balance $ <br /> Current Hotel/Motel Tax Revenue <br /> Interest Earnings <br /> Total Resources <br /> Less: <br /> EXPENDITURES/RESERVE <br /> Stadium Seats $ <br /> Visitor's Information Center <br /> Reserve Balance <br /> Total Expenditures/Reserve <br /> Amount Available for Distribution $ <br /> PUBLIC HEARING In July of each year, the City Council will call for a public hearing <br /> to receive testimony pursuant to the distribution of grant funds in <br /> support of community promotions and civic events. <br /> FUNDING PRIORITY In July of each year, the Budget Committee, in consideration of <br /> the testimony received during the public hearing, will establish <br /> priorities for the distribution of funds in support of community <br /> promotions and civic events. <br /> COUNCIL In August of each year, the Budget and Finance Committee will <br /> APPROVAL present recommended funding priorities for that year's <br /> Community Promotions and Civic Events grants to the full <br /> Council for consideration and approval. <br /> Page 2 <br />