Upon City Council approval of a Resolution authorizing the creation of Houston Civic Events, Inc., a local government corporation, it is recommended that City Council approve minor amendments to Chapter 25-18 of the Code of Ordinances (Special Events Accounting Practices).
Section 25-18 of the Code of Ordinances, Houston, Texas, (“City Code”) contains the provisions applicable to the City’s special events accounting practices and currently provides, in part, that except where expressly provided otherwise, that the Director of the Mayor’s Office of Special Events shall deposit all special event revenues with any component unit related to or associated with the special event.
Section 8 of the Resolution contains express language whereby City Council directed all current City funds allocated to special events held with a component unit of the City or another entity including but not limited to the Houston Parks Board, Inc., and Central Houston Civic Improvement, Inc. be transferred to and deposited into such banks, trust companies or other depositories as the Houston Civic Events, Inc. Board of Directors sees fit.
Thus, it is recommended that City Council take action to amend Section 25-18 of the City Code in a manner consistent with the intent of Section 8 of the Resolution to ensure that all City funds allocated to and associated with special events be transferred and deposited in such banks, trust companies or other depositories held and managed by Houston Civic Events, Inc.