HomeMy Public PortalAboutAB 15-189 LOT Excess FundingMcCALL CITY COUNCIL 216 East Park Street
AGENDA BILL McCall, Idaho 83638
Number AB 15-189
Meeting Date October 8, 2015
AGENDA ITEM INFORMATION
SUBJECT:
FY2015 Local Option Tax Excess Revenue
Department Approvals
Initials
Originator
or
Supporter
Mayor / Council
City Manager
Clerk
Originator
Treasurer
Support
Community Development
Police Department
Public Works
Golf Course
COST IMPACT:
~$21, 000
Parks and Recreation
FUNDING SOURCE:
LOT
Airport
Library
TIMELINE:
October, 2015
Information Systems
Grant Coordinator
SUMMARY STATEMENT:
The Local Option Tax revenue received for 2015 is currently $330,025 with September yet to be remitted. It is estimated that September could collect as much as $35,000 in revenue. Once
everything is paid out to the approved recipients including the projects on contingency, there could be approximately $24,000 of additional unbudgeted LOT. Staff has looked at the projects
that were not funded in 2015 and noted that the City projects were funded through the budget process, the time for the Alpine Village request for summer movies has passed, The McPaws
Oktoberfest is a fund raiser and did not qualify, and the Treasure Valley Transit Center is moving forward with its plans for a transit center without LOT funds.
Staff has identified the options the City has for the possible revenue as following:
1. The money could go into property tax relief;
2. The City could present a qualifying project for the Council to consider; or
3. The money could be used to fund projects approved by the LOT Commission and Council for 2016.
Staff recommends that the Council consider option #3. Attached are the funding summaries from FY2015 and FY2016.
RECOMMENDED ACTION:
Approve the FY 2015 Local Option Tax excess revenue be used for projects approved for FY2016.
RECORD OF COUNCIL ACTION
MEETING DATE
ACTION