HomeMy WebLinkAbout1998.01.12_Sales Tax Watchdog Committee Agenda0
N
NOTICE OF PUBLIC MEETING OF THE
OWASSO SALES TAX WATCHDOG COMMITTEE
TYPE OF MEETING:
DATE:
TIME:
PLACE:
Regular
January 12, 1998
7:00 p.m.
Owasso Community Center
Quilting Room
Notice and agenda filed in the office of the City Clerk and posted on the City Hall bulletin board
at 5:00 p.m. on Wednesday, January 7, 1998.
S4 44MAZUT
Marc6 Boutwell, Com ittee Secretary
AGENDA
1. Call to Order ....... ............................... Mr Philippi
2. Roll Call ......... ............................... Ms Boutwell
3. Request Approval of Minutes of July 14, 1997 Regular Meeting ...... Mr Philippi
4. Presentation and Discussion of Financial Reports ................. Ms Bishop
OWASSO SALES TAX WATCHDOG COMMITTEE
JANUARY 12, 1998
PAGE 2
5. Consideration and Appropriate Action Relating to the Manner and Format By Which the
Committee Will Review Projects Authorized by the Voters as a Part of the October 14th
Capital Improvements Bond Issue Election .................... Mr Philippi
6. Discussion and Appropriate Action Relating to the Number of Meetings to be Held by the
Committee Each Year ................................. Mr Philippi
7. General Discussion of Projects & Progress Report .................. Mr Ray
0
8. Consideration & Approval of Progress Report for Public Distribution ... Mr Philippi
9. Unfinished Business .. ............................... Mr Philippi
10. New Business ...... ............................... Mr Philippi
0 11. Adjournment ........... ......................... Mr Philippi
City of Owasso
Sales Tax Collections and
Restricted Use of One Percent
Fiscal Year 1997 -98
Jul -97
Aug -97
Sep -97
Oct -97
Nov -97
Dec -97
Jan -98
Feb -98
Mar -98
Apr -98
May -98
Jun -98
Total
Three Percent
Sales Tax
Collection
$420,132.73
425, 520.68
407,667.33
419,775.03
394,121.26
407,464.80
401,090.96
453,481.05
346,369.60
429,894.26
400,592.30
438,182.66
$4,944,292.66
One Percent
Sales Tax
{i/3)
$140,044.24
141,840.23
135,889.11
139,925.01
131,373.75
135,821.60
133,696.99
151,160.35
115,456.53
143,298.09
133,530.77
146,060.89
$1,648,097.55
Capital
Future Fund*
$21,006.64
21,276.03
20,383.37
20,988.75
19,706.06
20,373.24
20,054.55
22,674.05
17,318.48
Debt Service Payments
1988
1997 Revenue 1998
Revenue Bonds
Refunding Bonds Revenue Bonds
$50,931.63
0.00
50,931.63
0.00
50,931.63
0.00
28,225.48
0.00
53,301.25
0.00
57,076.25
0.00
382,589.00
43,137.24
0.00
42,934.60
1,500.00
44,906.47 48,394.40
Interest
Earnings
1,226.93
579.43
826.33
1,245.24
1,433.46
1,721.24
465.41
694.12
1,002.64
21,494.71
0.00
29,009.35
85,595.42 1,158.32
20,029.62
0.00
44,775.00
85,595.42 998.57
21,909.13
0.00
44,775.00
85,595.42
$247,214.63
$675,486.87
$249,537.66
$305,180.66 $11,351.69
*Note - Fifteen percent (15 %) of the one percent (1%) sales tax is deposited in the Capital Future Fund for the
purpose of funding future capital improvement projects. In Oct 1997, voters authorized the use of the CFF accumulations
through FY 2001 for projects.
i
Excess
$69,332.91
70,211.99
65,400.44
91,956.02
59,799.90
60,093.35
(311,618.39)
86,245.82
4,339.82
8,356.92
(15,870.70)
(6,218.67)
$182,029.42
City of Owasso
Sales Tax Extension
Capital Improvement Fund Projects
Project Status Summary Report
For the Period Ended December 31, 1997
Police Station Renovation (City Hall)
i
n r) Maintenance Building
/Firearms Range
86th Street - Cedar to Main
Hale Acres Drainage
,2 n Sports Park - Phase VI
Computerization
Highway 169 Enhancement
129th E Ave Overlay
76th /Hwy 169 Engineering
Sports Park Restroom
Total
Expended
Percent
this
Expended
Remaining
of Budget
Percent
Budget
Six Months
to Date
Encumbrances
Budget
Expended
Complete
$139,554
$1,304
$23,489
$40
$116,025
16.8%
0%
81,463
0
81,463
0
0
100.0%
100%
30,000
1,350
1,474
0
28,526
4.9%
5%
178,443
0
25,193
900
152,350
14.1%
10%
30,000
705
13,326
580
16,094
44.4%
45%
25,000
0
23,667
0
1,333
94.7%
100%
625,000
0
0
0
625,000
0.0%
0%
25,000
0
0
0
25,000
0.0%
0%
30,000
0
0
0
30,000
0.0%
0%
100,000
0
0
0
100,000
0.0%
0%
87,325
1,912
1,912
85,405
8
2.2%
3°%
$1,351,785
$5,271
$170,524
$86,925
$1,094,336
12.6%