HomeMy Public PortalAboutAB 11-052 allocation of additional FY11 LOT fundsMcCALL CITY COUNCIL
AGENDA BILL
Number
Meeting Date
AB 11-52
March 24, 2011
216 East Park Street
McCall, Idaho 83638
AGENDA ITEM INFORMATION
SUBJECT:
Allocation of additional Local Option Tax funds in
FY11
Department Approvals
Initials
Originator
or
S_u_pporter
Mayor / Council
City Manager
originator
Clerk
Treasurer
Community Development
Police department
Public Works
Golf Course
COST IMPACT:
Up to $79,000
Parks and Recreation
FUNDING
SOURCE:
FY11 LOT revenues & $44,000 unused LOT
revenues returned to the City
Airport
Library
TIMELINE:
No later than September 30, 2011
Information Systems
Grant Coordinator
SUMMARY STATEMENT:
In FY08 Valley County Recycle Partners received Local Option
construction of a new drop-off recycling center. Valley County
the construction. Because of various delays, the funding was continued
informed the City that the project cannot be completed this fiscal
the City. Historically, when unused funds are returned, they are
priority list.
In addition, FY11 Local Option Tax collections for the first four
than anticipated. If collections continue at this pace, staff estimates
FY11. When the $44,000 returned from Recycle Partners is added,
$254,000, compared to the $175,000 in the budget. The Local
have previously identified projects to be funded up to $227,500.
See the attached memo for more information.
Tax funding of $44,000,
committed additional funds
to pay for the
to complete
Partners have
the $44,000 to
project on the
are stronger
be received in
FY11 will be
and City Council
until FY11. Recycle
year, and have returned
made available to the next
months of the fiscal year
that $210,000 will
the total available for
Option Tax Commission
RECOMMENDED ACTION:
City Council to develop a revised FY11 Funding Priority list in June, by increasing the amounts awarded
to projects already on the funded or contingency lists.
RECORD OF COUNCIL ACTION
MEETING
DATE
ACTION