HomeMy Public PortalAboutAB 22-249 Excess LOT AllocationMcCALL CITY COUNCIL 216 East Park Street
AGENDA BILL McCall, Idaho 83638
Number AB 22-249
Meeting Date September 22, 2022
AGENDA ITEM INFORMATION
SUBJECT:
Request to Approve Allocation of up to $105,000 in FY22 Tourism Local Option Taxes
Department Approvals
Initials
Originator
or
Supporter
Mayor / Council
City Manager
Originator
Clerk
Treasurer
Community Development
Police Department
Public Works
Golf Course
COST IMPACT:
$105,000
Parks and Recreation
FUNDING SOURCE:
Tourism LOT
Airport
Library
TIMELINE:
By September 30, 2022
Information Systems
Grant Coordinator
SUMMARY STATEMENT:
On September 8, 2022, Council approved the FY22 Budget Amendment that recognized additional Tourism Local Option Tax (LOT) revenue that we expect to receive above the original budget
estimate. The Amendment fully funded the LOT Commission’s recommended contingency projects with a remaining amount of up to $105,000 that is still available for the Council to allocate
to projects that fit the LOT allowable uses (see attached). Staff recommends that Council allocate this funding to the Library Expansion Project which is an allowable use and has received
LOT funding previously. By doing so the Council will reduce the amount of General Fund reserve dollars needed for the project. Staff considered the possibility of allocating the funds
to the Housing Program and determined that there are still outstanding LOT funds in the program that have not been fully spent yet and there was not a need for more LOT funds in that
program until those previous allocations have been expended. The Housing Program was also awarded $350,000 in FY23 LOT funding plus $100,000 in FY23 LOT contingency funds.
Council may choose to allocate the funds to any other priority or project they wish as long as it meets the eligible uses (attached) in the Ordinance.
RECOMMENDED ACTION:
Approve the allocation of up to $105,000 in FY22 Tourism LOT to the Library Expansion Project.
RECORD OF COUNCIL ACTION
MEETING DATE
ACTION