03-01-83 Finance Comm MinutesFINANCE COMMITTEE MEETING - March 1, 1983
The Finance Committee met on this date at the Committee Room at City Hall.
Present were Chairman Nystul, Councilmen Ruiz and Saverud, Mayor McDowell,
Finance Director Swanson, Community Development Director Gallagher and Leon
Walsh, CPA, our auditor.
Mr. Walsh and Finance Director Swanson have located what the apparent prob-
lem is with the receipts estimated for the Tax Increment Financing District.
The differences between the base year and the taxable for 1981 indicated an
estimate of $247,626 of estimated revenues, As of June 30, 1982, the total
received is $81,445.76.
It appears that the computations for the distribution of 1981 real estate
taxes used a ratio of taxes due all of the City vs, taxes due/tax increment
revenue.
The Finance Director and Mayor will write a letter to Monty Long, County
Assessor, to determine if he concurs with our computations. He will be
asked to respond by the Council Meeting on March 7.
Upon receiving the response, the committee and the staff will make a recom-
mendation to the Council.
Meeting adjourned at 5:00 P. M.
G ry N stul
Chairman
GN/ms