HomeMy WebLinkAbout1995.01.09_Sales Tax Watchdog Committee AgendaO
NOTICE OF PUBLIC MEETING OF THE
OWASSO SALES TAX WATCHDOG COMMITTEE
TYPE OF MEETING:
DATE:
TIME:
PLACE:
Regular
January 9, 1995
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 5, 1995.
Marcia Boutwell, Com ittee Secretary
AGENDA
1. Call to Order ..... ............................... Mr Philippi
2. Roll Call
3. Request Approval of Minutes of October 10, 1994 Regular Meeting ... Mr Philippi
4. Presentation and Discussion of Financial Reports ............... Ms Bishop
Owasso Sales Tax Watchdog Committee
January 9, 1995
Page 2
5. General Discussion of Projects & Progress Report ................. Mr Ray
6. Consideration & Approval of Quarterly Report for Public Distribution . Mr Philippi
7. Unfinished Business . ............................... Mr Philippi
8. New Business ..... ............................... Mr Philippi
9. Adjournment ..... ............................... Mr Philippi
City of Owasso
1988 Revenue Bonds
Project Status Summary Report
For the Quarter Ended December 31, 1994
*Note - An additional $22,613 is anticipated from other revenue sources. Total budget for this project is $172,613,
* *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
Quarter
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
150,000
47,275
83,160
90,127
(23,288)
55.4%
80%
Residential Street Overlay **
150,000
183,406
0
157,590
25,816
0
85.9%
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
$47143,000
$4,833,385
$47,275
$4,709,897
$115,943
($23,288)
97.4%
*Note - An additional $22,613 is anticipated from other revenue sources. Total budget for this project is $172,613,
* *Note - 96th street & Garnett intersection is the current project.
City of Owasso
Sales Tax Collections and
Restricted Use of One Percent
Fiscal Year 1994 -95
Jul -94
Aug -94
Sep -94
Oct -94
Nov -94
Dec -94
Jan -95
Feb -95
Mar -95
Apr -95
May -95
Jun -95
Total
Three Percent
Sales Tax
Collection
$301,692.06
292,779.43
324,228.25
295,730.32
267,872.41
304,226.02
300,361.72
345,341.44
257,422.54
265,865.61
293,128.36
305,553.54
$3,554,201.70
One Percent
Sales Tax
(1/3)
$100,564.02
97,593.14
108,076.08
98,576.77
89,290.80
101,408.67
100,120.57
115,113.81
85,807.51
88,621.87
97,709.45
101,851.18
$1,184,733.90
Capital
Future Fund*
$15,084.60
14,638.97
16,211.41
14,786.52
13,393.62
15,211.30
15,018.09
17,267.07
12,871.13
13,293.28
14,656.42
15,277.68
$177,710.09
Required for
1988 Rev. Bond
Debt Service
$49,786.00
49,786.00
49,786.00
49,786.00
50,102.92
50,102.92
50,102.92
50,102.92
50,102.92
50,102.92
50,102.92
50,102.92
$599,967.36
Excess
$35,693.42
33,168.17
42,078.67
34,004.26
25,794.26
36,094.45
34,999.57
47,743.82
22,833.47
25,225.67
32,950.12
36,470.58
$407,056.46
*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 $496,503.32
City of Owasso
Sales Tax Extension
Capital Improvement Fund Projects
Project Status Summary Report
For the Quarter Ended December 31, 1994
*Note - An additional $40,000 has been appropriated from other revenue sources. Total budget for the central fire station project is $570,000.
Expended
Percent
this
Expended
Remaining
of Budget
Percent
Budget
Quarter
to Date
Encumbrances
Budget
Expended
Complete
Central Fire Station
$530,000 *
$0
$530,000
$0
($0)
100.0%
100%
City Hall Renovation
138,500
0
7,205
100
131,195
5.2%
4 %
76th Street Overlay
70,000
0
0
0
70,000
0.0%
0%
96th Street Overlay
40,000
225
9,307
119
30,574
23.3%
15%
Residential Street Overlay
13,700
0
0
0
13,700
0.0%
0%
96th & Garnett Signalization
12,800
0
0
12,784
16
0.0%
10%
Hale Acres Drainage Project
15,000
726
726
0
14,275
4.8%
75%
Sports Park, Phase IV
113,000
0
17,768
0
95,232
15.7%
5%
Total
$933,000
$951
$565,006
$13,003
$354,991
60.6%
*Note - An additional $40,000 has been appropriated from other revenue sources. Total budget for the central fire station project is $570,000.