Finance Committee - Regular Meeting

Good evening. This is the Finance Committee meeting for May 26, 2026. It is 6 p.m. and call this meeting in order. First thing is the acceptance of the agenda.

I make a motion we accept the agenda. In seconds.

That's passed unanimously. Approval of the minutes for April 28, 2026. I make a motion that we approve the minutes. Any changes? No, all those favor say, I, I, I pass unanimously and the same thing for May 11th, 2026.

Make a motion we accept those minutes as well.

I'm feeling you're making a lot of those today. All right. I second that. And so we'll consider that past. Unanimously next is public comments and there's none there. No, 1 is the resolutions. So we're on the. new aft update um i went ahead and i printed out what jay sent to us you want a copy of that as well yeah please thank you so much so really good news here and jay thank you so much for all of your hard work on this excellent staying on top of each one of these to ensure that they're doing their you're holding them accountable and I I appreciate that uh so we can get put this behind us um and uh so just well actually since you're here why don't you just go over what what the status is of the aft that the county has said is owed to them sure so we uh we were working with the county's staff uh Miss Caitlin over at the county when their codes um

Department who is tracking all the payments she and I went through the spreadsheet and I actually provided her with the 1 that you had handed out and we just went through each 1 our rationale on why we thought that some of them didn't need to be on there shouldn't be on there. All but one they agreed with and removed those. And then the next week we found a couple more discrepancies. We worked through those and they've been very, very helpful, very good to work with that. You know, if there's a rational reason on why something is not on there, they're more than willing to take it off and get to the number where we all agreed upon. And we've been whittling away at that each week and got it down pretty far. It's awesome.

Yeah. Well, first of all, really glad that the county is working with you so seamlessly. So really appreciate that from them. But it's due to your hard work and maintaining that communication that made the difference, I believe. So I appreciate that. This brings us down to $37,000. It's under $38,000. Originally, they were saying that the city particularly owed over $300,000, which the city owed nothing. It was these developers that owed the money. And so now these developers now owe just under $38,000. Sounds like there's a plan for most of these already. I think at this point we can put this to bed and stop adding this to our agenda. I don't see any reason to continue adding this to our agenda. Do you? No.

I do have one question. So the biggest one that's still outstanding here is the hospitals. Is there any thought about...

So we sent them a letter back when we sent the blanket letters to all of them, they reached back to us and they had done a little bit of research and they found the comptroller's. Opinion, um, years ago, and they were using that as, um, citing that they're exempt and that they're because they're commercial and I followed up with our plan director followed up with some phone calls and they were going back and forth and I finally laid out in an email. Exactly what the county's position is that they really need to work it out with them. I left it at that. It's back in their court. Um, but, you know, ultimately again, it is the county packed. It's not a city. We're facilitating. You know, as much as we can without, um. Putting too much staff time into it. Um, but, you know, from what we've dedicated and what we found. Yeah, they're more than half of what's outstanding and if they pay. The county has abilities to collect that if they really wanted to.

I agree. I think it's, you know. They have a position. The hospital has a position. The county has a position. They're the ones that need to reach a resolution. We're just in the middle of it.

And the county made it clear, if they think they're exempt, make the case to them. They'll entertain it and then make a decision on that. That's a big distinction.

Make the case to them. Absolutely. And neither they nor the state will allow us to play judge in that situation. And we should. And we should. We have nothing new with this.

Awesome. Fantastic. Anything else? Okay. Can you just keep giving us updates as things change? But I don't think we need to have this on the agenda anymore.

If you want, I can do a weekly or let you know pretty much when the hospital, the big chunk is gone. Maybe if we reach that halfway. Yeah.

I don't think any of the other ones are big enough to really pay much attention to. Okay. Okay, ready to move on? Okay. Next is sales tax. And it looks like you've got some good news there.

We do. So we'll start looking at the local option of the sales tax. The April collections that we just received this last week came in about $140,000 more than the April collections from the prior fiscal year. Overall, we're looking to end up about 2.4% over budget.

Great.

Yeah, it's looking really strong. It has been kind of steady, but these last couple months have really picked up and we've got some strong revenue there.

Wonderful.

Okay. And similar situation with our state shared sales tax as well. It came in about $40,000 more than the prior fiscal year for The self tax, we can, you know, couple 100,000. Projected over budget on that 1, about, you know, 2.7% over budget on that 1.

So, combined about 180,000, just for the moment.

Yeah, yeah, absolutely. The next report is our hotel motel report and. Every single month this year has come in higher than the prior fiscal years. The revenue, we're coming in at about $60,000 over budget. That's what the projection is right now for the hotel and hotel, which is great. And it's a little closer in line to what's being budgeted for fiscal year 27. We anticipate these staying pretty consistent into the new year.

I noticed that expenditures are only $180,000. We have those planned for something coming up, I believe, don't we?

Yeah, so that's the actual expenditures here today. We will, in June, we will post the journal to account for the expenditure for the debt services payment for the inline hockey rink, and that's about $250,000. So that, in June, we'll have a journal. We do that at the end of the fiscal year as part of our year in journals.

Yeah, makes sense. Yeah. Great.

Investment are continuing to be pretty consistent, although less than the prior year, which is what we anticipated. We're still coming in pretty strong on these. We're going to end the year about $1.3 million, $1.4 million.

Yeah, we're already over what we budgeted. We still have two months left. Yes.

Stormwater fund, the collections on this is winding way down. We're just bringing in the onesie twosie of the folks that are coming in and paying a little bit late. But so far this fiscal year, we've collected about 130,000 more in stormwater fees than we did in the prior year. That's primarily due to new properties that have been brought on.

And there were some that were paying back fees, right? That they had missed.

And that happens every year. We've had a little bit more this year paying back fees than we had in prior years. But it happens. Most years we collect about 97% of all of the taxes that are billed. Last fiscal year, we collected 96%, which was a little bit less. And so now we're back up to that higher amount, but we've also got some of those folks that paid their prior years a little bit later. And then the PIP Fund, and it's a double-sided one. PIP Fund, April this year compared to last year, we brought in about $55,000 more in tax revenue. And we are estimating that this is going to come in over budget for the PIP fund, which will then be available for spending for next fiscal year or future fiscal years.

Any questions? No.

I think we're looking pretty good on our sales tax revenue.

Yes. And just please keep it up. I and Henderson. We always do. as possible. Any other business to discuss? Not like emotionally second that