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Home My WebLink About1997.01.13_Sales Tax Watchdog Committee AgendaNOTICE OF PUBLIC MEETING OF THE OWASSO SALES TAX WATCHDOG COMMITTEE TYPE OF MEETING: DATE: TIME: PLACE: Regular January 13, 1997 7:00 p.m. Owasso Community Center 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 Thursday, January 9, 1997. AA Marci Boutwell, Committee Secretary AGENDA 1. Call to Order ....... ............................... Mr Philippi I AO 2. Roll Call ......... ............................... Ms Boutwell 3. Request Approval of Minutes of July 8, 1996 Regular Meeting ....... Mr Philippi 4. Presentation and Discussion of Financial Reports ................. Ms Bishop Owasso Sales Tax Watchdog Committee January 13, 1997 Page 2 5. General Discussion of Projects & Progress Report .................. Mr Ray 6. Request Approval of Completion Reports ....................... Mr Ray A. Maintenance Building B. 96th & Garnett Signalization C. 96th Street North Overlay Project D. 76th Street Overlay Project E. City Hall /Community Center Parking Lot 7. Consideration & Approval of Progress Report for Public Distribution ... Mr Philippi 8. Unfinished Business .. ............................... Mr Philippi 9. New Business ...... ............................... Mr Philippi 10. Adjournment ....... ............................... Mr Philippi E City of Owasso 1988 Revenue Bonds Project Status Summary Report - Final For the Period Ended June 30, 1996 *Note - 96th Street & Garnett intersection is the current project. Expended Percent Original Amended this Expended Remaining of Budget Percent Revenue Bond Fund Projects Budget Budget Six Months to Date Encumbrances Budget Expended Complete 86th Street Improvements $2,700,000 $2,753,383 $0 $2,749,519 $0 99.9% 100% 76th Street Improvements 150,000 173,288 0 173,288 0, 100.0% 100% Residential Street Overlay* 150,000 169,930 4,240 169,929 0 - 100.0% 100% Main Street Renovation 100,000 107,799 0 107,790 0 - 100.0% 100% Original Town Drainage 500,000 500,000 0 492,940 0 98.6% 100% North Drainage Study 15,000 15,000 0 14,869 0 - 99.1% 100% Firefighter Radio Equipment 35,000 35,000 0 34,781 0 - 99.4% 100% Animal Impound Facility 50,000 105,000 0 105,224 0 - 100.2% 100% Recreation Center Renovation 33,000 33,000 0 32,980 0 - 99.9% 100% Sports Park 120,000 383,117 0 383,117 0 - 100.0% 100% Land for Sports & Drainage 270,000 293,792 0 293,782 0 - 100.0% 100% Rodeo Ground Improvements 20,000 20,000 0 14,975 0 -- 74.9% 100% OPWA/Garage Facility 0 193,888 0 193,888 0 100.0% 100% Project Management 0 60,000 0 45,281 0 75.5% 100% Total $4,143,000 $4,843,197 $4,240 $4,812,363 $0 $0 99.4% *Note - 96th Street & Garnett intersection is the current project. City of Owasso 1988 Revenue Bonds Project Expenditures June 30, 1996 Original Project Amended Expend Projects Budget Budget FY 1989 FY 1990 FY 1991 FY 1992 FY 1993 FY 1994 FY 1995 FY 1996 Total 86th Str Improvements 2,700,000 2,753,383 305,140 2,109,011 335,368 2,749,519 76th Str Improvements 150,000 173,288 2,907 299 30,265 2,414 137,403 173,288 Residential Streets 150,000 169,930 58,403 67,731 31,455 8,100 4,240 169,929 Main Street Renovation 100,000 107,799 66,196 41,594 107,790 Original Town Drainage 500,000 500,000 1,260 196,855 104,816 113,027 76,983 492,940 North Drainage Study 15,000 15,000 8,147 6,723 14,869 Firefighter Radio Equip 35,000 35,000 34,781 34,781 4nimal Impound Facility 50,000 105,000 82 104,935 207 105,224 Rao Center Renovation 33,000 33,000 1,571 22,537 8,872 32,980 Baseball /Soccer Complex 120,000 383,117 765 22,600 359,752 383,117 _and - Sports & Drainage 270,000 293,792 293,782 293,782 Rodeo Ground Improvmt 20,000 20,000 11,392 3,583 14,975 DPWA /Garage Facility 0 193,888 193,888 193,888 'roject Management 0 60,000 45,281 45,281 Total $4,143,000 $4,843,197 $327,592 $2,834,281 $799,978 $589,918 $76,983 $33,869 $145,503 $4,240 $4,812,363 City of Owasso Sales Tax Collections and Restricted Use of One Percent Fiscal Year 1996 -97 Jul -96 Aug -96 Sep -96 Oct -96 Nov -96 Dec -96 Jan -97 Feb -97 Mar -97 Apr -97 May -97 Jun -97 Total Three Percent Sales Tax Collection $458,982.56 379,225.10 354,317.60 355,906.44 348,053.09 371,343.15 352,475.89 416,838.52 327,340.85 334,584.71 403,735.94 385,564.37 $4,488,368.22 One Percent Sales Tax (1/3) $152,994.19 126,408.37 118,105.87 118,635.48 116,017.70 123,781.05 117,491.96 138,946.17 109,113.62 111,528.24 134,578.65 Capital Future Fund* $22,949.13 18,961.26 17,715.88 17,795.32 17,402.65 18,567.16 17,623.79 20,841.93 16,367.04 16,729.24 20,186.80 Required for 1988 Rev. Bond Debt Service $50,740.42 50,740.42 50,740.42 41,909.97 51,252.09 51,252.09 51,252.09 51,252.09 51,252.09 0.00 18,255.72 Excess $79,304.64 56,706.69 49,649.57 58,930.19 47,362.95 53,961.80 48,616.08 66,852.16 41,494.48 94,799.00 96,136.13 128,521.46 19,278.22 50,931.63 58,311.61 $1,496,122.74 $224,418.41 $519,579.03 $752,125.30 *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 as authorized by the voters. Capital Future Fund balance is $967,020.62 City of Owasso Sales Tax Extension Capital Improvement Fund Projects Project Status Summary Report For the Period Ended December 31, 1996 City Hall Renovation Maintenance Building Parking Lot - City Hall /Community Center Firearms Range 76th Street Overlay 96th Street Overlay 96th & Garnett Signalization 86th Street - Cedar to Main Hale Acres Drainage Sports Park - Phase VI Total Expended Percent this Expended Remaining of Budget Percent Budget Six Months to Date Encumbrances Budget Expended Complete $139,212 $4,445 $18,257 $644 $120,311 13.1% 5% 81,463 80,000 81,463 0 0 100.0% 100% 12,650 12,650 12,650 0 0 100.0% 100% 30,000 0 0 1,500 28,500 0.0% 5% 69,350 23,151 23,301 0 46,049 33.6% 100% 39,978 20,760 30,738 0 9,240 76.9% 100% 28,800 16,675 19,460 8,360 980 67.6% 100% 678,440 4,273 25,193 900 652,347 3.7% 10% 30,000 3,216 10,946 1,026 18,028 36.5% 40% 25,000 0 0 19,089 5,911 0.0% 0% $1,134,893 $165,170 $222,008 $881,366 19.6% $31,519 City of Owasso Sales Tax Extension Capital Improvement Fund Projects Project Status Summary Report For the Period Ended June 30, 1996 *Note - The original Hale Acres Drainage Project had $13,312 remaining in the budget. That money has been added to the $15,000 budget for the Phase 11 project for a total budget of $28,312 Expended Percent this Expended Remaining of Budget Percent Budget Six Months to Date Encumbrances Budget Expended Complete City Hall Renovation $139,220 $2,832 $13,812 $0 $125,408 9.9% 5% Maintenance Building 81,463 1,463 1,463 80,000 1 1.8% 5% Parking Lot - City Hall /Community Center 12,000 0 0 0 12,000 0.0% 0% Firearms Range 30,000 0 0 0 30,000 0.0% 5% 76th Street Overlay 70,000 0 150 0 69,850 0.2% 0% 96th Street Overlay 40,000 0 9,978 0 30,022 24.9% 15% 96th & Garnett Signalization 28,800 0 0 13,684 15,116 0.0% 10% 86th Street - Cedar to Main 92,562 19,940 20,920 8,546 63,096 22.6% 10% Residential Streets 113,700 97,994 104,533 0 9,167 91.9% 100% Sidewalk Program 40,975 40,975 40,975 0 0 100.0% 100% Hale Acres Drainage - Phase 1 1,688 * 0 1,688 0 0 100.0% 100% Hale Acres Drainage - Phase 11 28,312 * 6,015 6,042 0 22,270 21.3% 25% Sports Park - Phase IV 157,000 0 157,000 0 0 100.0% 100% Sports Park - Phase V 25,000 0 8,994 0 16,006 36.0% 36% Total $860,720 $169,219 $365,555 $392,935 42.5% $102,230 *Note - The original Hale Acres Drainage Project had $13,312 remaining in the budget. That money has been added to the $15,000 budget for the Phase 11 project for a total budget of $28,312