HomeMy Public PortalAboutAB 20-225 Resolution to Accrue Forgone Public HearingMcCALL CITY COUNCIL 216 East Park Street
AGENDA BILL McCall, Idaho 83638
Number AB 20-225
Meeting Date August 13, 2020
AGENDA ITEM INFORMATION
SUBJECT:
Request to Approve Resolution 20-18 to Reserve Forgone Amount for Fiscal Year 2021 for Potential Use in Subsequent Years
Public Hearing
Department Approvals
Initials
Originator
or
Supporter
Mayor / Council
City Manager
Clerk
Treasurer
Originator
Community Development
Police Department
Public Works
Golf Course
COST IMPACT:
$189,631
Parks and Recreation
FUNDING SOURCE:
FY21 Maximum Allowed 3% Increase
Airport
Library
TIMELINE:
Adopt Resolution to Reserve Forgone
on August 13, 2020
Information Systems
Grant Coordinator
SUMMARY STATEMENT:
Beginning July 1, 2020 HB 354, passed by the 2020 State Legislature, requires cities to pass a resolution each year to accrue forgone property tax levying authority that could be levied
in a future year. If the City does not pass the resolution that year’s forgone amount would be forfeited permanently but the City would retain levy authority for previously accrued
forgone.
The process to pass the forgone accrual resolution is the same as the process for the city budget and can be done at the same time. Both hearing notices, the hearing for forgone accrual
and the city budget, must be published in the official newspaper twice seven days apart and can be done together.
At the conclusion of the FY21 Budget work session held July 24, 2020, the Council set a tentative budget in the amount of $26,326,083 that does not include the maximum allowed 3% increase
of $189.631. The Council may elect to reserve the FY21 Forgone Amount for potential use in subsequent years by formally adopting the attached Resolution to Reserve Forgone Amount for
Fiscal Year 2021 for Potential Use in Subsequent Years at the conclusion of the public hearing.
RECOMMENDED ACTION:
Conduct the Public Hearing
Either:
Adopt forgone accrual Resolution 20-18 to Reserve Forgone Amount for Fiscal Year 2021 for Potential Use in Subsequent Years and authorize the Mayor to sign all necessary documents.
OR
Permanently forfeit the FY21 forgone amount.
RECORD OF COUNCIL ACTION
MEETING DATE
ACTION
July 24, 2020
Council set the tentative budget in the amount of $26,326,083