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HomeMy WebLinkAbout1996.01.08_Sales Tax Watchdog Committee AgendaEe 5 NOTICE OF PUBLIC MEETING OF THE OWASSO SALES TAX WATCHDOG COMMITTEE TYPE OF MEETING: DATE: TIME: PLACE: Regular January 8, 1996 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 4, 1996. Marc6 Boutwell, C mmittee Secretary AGENDA 1. Call to Order ....... ............................... Mr Philippi 2. Roll Call ......... ............................... Ms Boutwell 3. Request Approval of Minutes of July 10, 1995 Regular Meeting ...... Mr Philippi 4. Presentation and Discussion of Financial Reports ................. Ms Bishop 410 O Owasso Sales Tax Watchdog Committee January 8, 1996 Page 2 5. General Discussion of Projects & Progress Report .................. Mr Ray 6. Consideration & Approval of Quarterly Report for Public Distribution ... Mr Philippi 7. Consideration and Appropriate Action Relating to a Committee Position Regarding a Firing Range ........... ............................... Mr Philippi 8. Consideration and Appropriate Action Relating to a Committee Position Regarding Use of the Ball Fields at Rayola Park ........................... Mr Philippi 9. Unfinished Business .. ............................... Mr Philippi 10. New Business ...... ............................... Mr Philippi © 11. Adjournment ....... ............................... Mr Philippi City of Owasso 1988 Revenue Bonds Project Status Summary Report For the Period Ended December 31. 1995 *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 0 165,690 4,240 0 97.5% 99% Main Street Renovation 100,000 107,799 0 107,790 0 100.0% 100% Original Town Drainage 500,000 500,000 0 492,941 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 $0 $4,808,125 $4,240 $0 99.3% *Note - 96th Street & Garnett. intersection is the current project. City of Owasso Sales Tax Collections and Restricted Use of One Percent Fiscal Year 1995 -96 Jul -95 Aug -95 Sep -95 Oct -95 Nov -95 Dec -95 Jan -96 Feb -96 Mar -96 Apr -96 May -96 Jun -96 Total Three Percent Sales Tax Collection $302,677.03 318,501.67 329,039.92 324,380.83 315,843.10 318,501.16 329,059.46 403,481.21 299,608.15 300,385.63 346,300.39 344,428.74 $3,932,207.29 One Percent Sales Tax (1/3) $100,892.34 106,167.22 109,679.97 108,126.94 105,281.03 106,167.05 109,686.49 134,493.74 99,869.38 100,128.54 115,433.46 114,809.58 $1,310,735.76 Capital Future Fund* $15,133.85 15,925.08 16,452.00 16,219.04 15,792.16 15,925.06 16,452.97 20,174.06 14,980.41 15,019.28 17,315.02 17,221.44 $196,610.36 Required for 1988 Rev. Bond Debt Service $50,102.92 50,102.92 50,102.92 50,102.92 50,740.42 50,740.42 50,740.42 50,740.42 50,740.42 50,740.42 50,740.42 50,740.42 $606,335.04 Excess $35,655.57 40,139.22 43,125.06 41,804.98 38,748.46 39,501.58 42,493.09 63,579.26 34,148.56 34,368.84 47,378.02 46,847.72 $507,790.36 *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 $708,616.71 City of Owasso Sales Tax Extension Capital Improvement Fund Projects Project Status Summary Report For the Period Ended December 31. 1995 *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 $138,500 $1,759 $10,980 $1,021 $126,499 7.9% 5% Maintenance Building 80,000 0 0 0 80,000 0.0% 0% 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% 0% 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 95,000 980 980 28,486 65,534 1.0% 10% Residential Streets 113,700 6,539 6,539 3,214 103,947 5.8% 8% Sidewalk Program 40,000 0 0 0 40,000 0.0% 0% Hale Acres Drainage - Phase 1 1,688 * 0 1,688 0 0 100.0% 100 %, Hale Acres Drainage - Phase II 28,312 * 28 28 6,790 21,494 0.1% 25% Sports Park - Phase IV 157,000 5,331 157,000 0 0 100.0% 100% Sports Park - Phase V 25,000 8,994 8,994 0 16,006 36.0% 36% Total $860,000 $23,631 $196,337 $610,468 $53,195 22.8% *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