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Flood Sales Tax Committee—November 19, 2018 3 5. FLOOD SALES TAX POTENTIAL PROJECTS FORECAST Mr. Benson said following the last meeting, he met with Mr. Opat and Engineer Brandon Oye to identify potential future projects and associated costs. The goal of the exercise was to gather information to assist in determining how much additional <br />funding from the flood sales tax can go to the Diversion Authority. Mr. Oye and Mr. Opat reviewed potential projects, which were broken into rural city projects and Water Resource District projects. <br />Mr. Montplaisir said the flood sales tax is stabilizing after multiple years of falling revenues. The county’s Flood Sales Tax Fund currently takes 9% of the revenues for rural projects. Mrs. Scherling said she would like to see a balance maintained in the fund for <br />projects, but does not want a large fund balance to accrue without being used. Mr. Steen said the point of creating the projects forecast was to determine a satisfactory fund balance before lowering the percentage of funds retained by the county. During the previous meeting, it was determined that project expenditures <br />have averaged $2.5 million per year, which is about 6% of the sales tax. Mr. Steen asked if the 6% figure should be brought to the Diversion Authority. Mrs. Scherling said a decision should not be made today and she would like a recommendation from Mr. Montplaisir at a future date. <br /> Mr. Steen said the Diversion Authority is working on financing and has asked the county to make a decision on how much funding to relinquish going forward. He said perhaps Mr. Montplaisir can come up with some figures for the Finance Committee to discuss. <br /> Mr. Montplaisir said discussions thus far have entailed retaining an unobligated balance of funds before reducing the percentage. <br />6. ADJOURNMENT <br />There being no further business, the meeting was adjourned at 2:04 PM. Minutes prepared by Brielle Edwards, HR Assistant