HomeMy Public PortalAboutAB 07-94 Local Option Tax Committee Annual Report
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MCALL CITY COUNCIL 216 East Park Street
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AGENDA BILL MCall, ID 83638
Number AB 07-94
Meeting Date May 24, 2007
AGENDA ITEM INFORMATION
Approvals: Department/ Initials Remarks
SUBJECT:
Committee/Individual (Originator/S
upport)
Local Option Tax Commission
Mayor / Council
Annual Report to Council
City Manager
Community Development
Treasurer
Clerk Originator
Police Department
Public Works
Golf Operations
Parks & Recreation
Airport
COST IMPACT: n/a
Library
FUNDING SOURCE: n/a
City Attorney
Grant Coordinator
TIMELINE:
Other:
SUMMARY STATEMENT:
Steve Gleason, Chairman of the Local Option Tax (LOT) Commission, will present the Commission’s
annual report to Council.
The FY07 Funding Matrix is attached, detailing the status of the FY07 allocations. In summary, $255,550
was the budgeted amount for the FY07 approved allocations, and $140,000 has been received and paid out
as of May 2007.
The LOT Commission’s recommendations for FY08 allocations are prioritized on the attached FY08
Funding Matrix. The total recommended budget amount for the FY08 revenues and allocations is $304,510.
The original estimates for LOT revenues were based on numbers provided by the State of Idaho. The FY08
estimates are based on actual 3% tax monies received by the City of McCall during the past two years. The
income estimates are “guess-timates” only, because there are several unknown factors that will affect these
numbers, including the number of hotels (beds) opening in McCall, weather conditions, and fire conditions.
In the event that FY08 revenue exceeds $304,510, the LOT Commission has recommended allocations for
an additional $56,375, to be prioritized as shown on the FY08 matrix.
RECOMMENDED ACTION:
None – informational only.
RECORD OF COUNCIL ACTION
Meeting Date ACTION