HomeMy WebLinkAbout1993.01.11_Sales Tax Watchdog Committee AgendaNOTICE OF PUBLIC MEETING
The Owasso Sales Tax Watchdog Committee will meet in regular session on Monday, January
11, 1993 at 7:00 PM the Council Chambers of the Owasso Community Center located at 301
S. Cedar, Owasso, OK.
Notice filed in the office of the City Clerk and posted on the City Hall bulletin board at
2:00 p.m. on Friday, January 8, 1993.
Krantz,
AGENDA
1. Call to Order ................................................ ............................Mr. Philippi
2. Roll Call
3. Consideration to Approve Minutes of October 12, 1992 ....... ....................Mr.Philippi
4. Presentation & Discussion of Financial Reports ........ ............................Ms. Bishop
5. Consideration and Appropriate Action Relating to a Request for Approval of Completion
Reports for the Following Projects ............................. .........................Mr.Ray
A. Original Town Drainage Projects
B. Sports -Park Development Phase I
6. Consideration & Approval of Quarterly Report for Public Distribution ....... Mr. Philippi
O
Sales Tax Watchdog Committee Agenda
January 11, 1993
Page 2
7. General Discussion of Projects & Progress Report ...... ............................Mr. Ray
8. Discussion of Ad Valorem Tax Report ......................... .........................Mr.Ray
9. Old Business ............................................. ............................... Mr. Philippi
10. New Business ............................................... ............................Mr. Philippi
11. Request for Items for Next Agenda ..................... ............................Mr. Philippi
12. Adjourn
City of Ov'`' o
1988 Reve,.. a Bonds
Project Status Summary Report
For the Quarter Ended December 31, 1992
Expended
Percent
this
Expended
Remaining
of Budget
Percent
Revenue Bond Fund Projects
Budget
Quarter
to Date
Encumbrances
Budget
Expended
Complete
86th Street Improvements
$2,753,3&3
$0
$2,749,519
$0
--
99.9%
100%
76th Street Improvements
150,000
0
33,471
0
116,529
22.3%
25%
Residential Street Overlay
150,000
0
126,135
0
23,865
84.1%
99%
Main Street Renovation
107,799
0
107,790
0
100.0%
100%
Original Town Drainage
500,000
67,022
492,941
0
7,059
98.6%
100%
North Drainage Study
15,000
0
14,869
0
--
99.1%
100%
Firefighter Radio Equipment
35,000
0
34,781
0
99.4%
100%
Animal Impound Facility
105,000
0
105,224
0
-
100.2%
100%
Recreation Center Renovation
33,000
0
32,980
0
99.9%
100%
Sports Park
383,117
0
383,117
0
100.0%
100%
Land for Sports & Drainage
293,792
0
293,782
0
100.0%
100%
Rodeo Ground Improvements
20,000
0
14,975
0
74.9%
100%
OPWA(Qarage Facility
193,888
0
193,888
0
100.0%
100%
Project Management
60,000
0
45,281
0
--
75.5%
100%
Total
$4,799,979
$67,022
$4,628,753
$0
171,226
96.4%
Capital Improvement Fund Projects
Sports Park (FY 1992)
$19,143
$0
$19,143
$0
$0
100.00%
100%
Central Fire Station
321,927
0
1,125
0
321,927
0.00%
0%
Total
$341,070
$0
$20,268
$0
$321,927
5.9%
City of Owasso
Sales Tax Collections and
Restricted Use of One Percent
Fiscal Year 1992 -93
Required for
1988 Rev. Bond
Debt Service
$41,300.00
41,300.00
41,300.00
41,300.00
48,490.00
48,490.00
48,490.00
0.00
48,490.00
48,490.00
48,490.00
48,490.00
Excess
(Deficiency)
21,102.09
50,370.77
32,293.38
32,696.14
22,861.06
25,071.62
24,128.46
88,121.01
20,010.01
15,423.91
24,948.34
23,557.50
Total $3,111,891.73 $1,037,297.24 $23,058.00 $1,014,239.24 $129,024.96 $504,630.00 $380,584.29
*Note: Accumulation begins 09/01/92.
Three Percent
One Percent
Required for
Available for
Sales Tax
Sales Tax
1983 GO Bond
1988 Rev. Bond
Capital
Collection
(1/3)
Debt Service
Debt Service
Future Fund*
Jul -92
$256,380.27
$85,460.09
$23,058.00
$62,402.09
0.00
Aug -92
275,012.32
91,670.77
0.00
91,670.77
0.00
Sep -92
259,741.34
86,580.45
0.00
86,580.45
12,987.07
Oct -92
261,162.85
87,054.28
0.00
87,054.28
13,058.14
Nov -92
251,827.27
83,942.42
0.00
83,942.42
12,591.36
Dec -92
259,629.25
86,543.08
0.00
86,543.08
12,981.46
Jan -93
256,300.45
85,433.48
0.00
85,433.48
12,815.02
Feb -93
311,015.32
103,671.77
0.00
103,671.77
15,550.77
Mar -93
241,764.75
80,588.25
0.00
80,588.25
12,088.24
Apr -93
225,578.49
75,192.83
0.00
75,192.83
11,278.92
May -93
259,194.14
86,398.05
0.00
86,398.05
12,959.71
Jun -93
254,285.28
84,761.76
0.00
84,761.76
12,714.26
Required for
1988 Rev. Bond
Debt Service
$41,300.00
41,300.00
41,300.00
41,300.00
48,490.00
48,490.00
48,490.00
0.00
48,490.00
48,490.00
48,490.00
48,490.00
Excess
(Deficiency)
21,102.09
50,370.77
32,293.38
32,696.14
22,861.06
25,071.62
24,128.46
88,121.01
20,010.01
15,423.91
24,948.34
23,557.50
Total $3,111,891.73 $1,037,297.24 $23,058.00 $1,014,239.24 $129,024.96 $504,630.00 $380,584.29
*Note: Accumulation begins 09/01/92.