HomeMy WebLinkAbout2015-03-10-Meeting Agendawww.augustaga.gov
Finance Committee Meeting Commission Chamber- 3/10/2015- 1:15 PM
FINANCE
1. Motion to approve the minutes of the Finance Committee held
on February 23, 2015.
Attachments
2. Approve proposed calendar for SPLOST VII. The proposed
election date is November 3, 2015
Attachments
3. Receive as information preliminary financial reports for the year
ended December 31, 2014.
Attachments
Finance Committee Meeting
3/10/2015 1:15 PM
Minutes
Department:Clerk of Commission
Caption:Motion to approve the minutes of the Finance Committee held on
February 23, 2015.
Background:
Analysis:
Financial Impact:
Alternatives:
Recommendation:
Funds are Available
in the Following
Accounts:
REVIEWED AND APPROVED BY:
Cover Memo
Item # 1
Attachment number 1 \nPage 1 of 2
Item # 1
Attachment number 1 \nPage 2 of 2
Item # 1
Finance Committee Meeting
3/10/2015 1:15 PM
Proposed SPLOST VII Calendar
Department:Finance / Administrator
Caption:Approve proposed calendar for SPLOST VII. The proposed
election date is November 3, 2015
Background:Collections for SPLOST phase VI are projected to end in the first
quarter of 2016. The proposed calendar sets key dates to allow for
a November 3, 2015 election. The calendar also allows time for
public meetings to discuss proposed projects and to inform the
public of the project list that has been approved by the
commission.
Analysis:
Financial Impact:n/a
Alternatives:revise calendar
Recommendation:approve proposed calendar
Funds are Available
in the Following
Accounts:
n/a
REVIEWED AND APPROVED BY:
Finance.
Law.
Administrator.
Clerk of Commission
Cover Memo
Item # 2
Augusta Georgia
Timeline for SPLOST VII
Election date: November 3, 2015
November 3rd -
election Item
March 9, 2015 Committee Meeting
March 17, 2015 Commission Meeting
The Commission will be presented with the recommended SPLOST VII Timeline.
Review and discuss the timeline, the period of years for the SPLOST, etc. Authorize
Mayor to meet with Mayors of Hephzibah and Blythe
Notices Mailed to Inter-Governmental AgenciesMayor's Office mail notices of meeting of governing authorities to the Mayors of
Hephzibah and Blythe to discuss inter-governmental agreement for distribution of
SPLOST VII proceeds. Notices must be mailed or delivered 10 days prior to the
meeting.
March 18, 2015 SPLOST Information Advertised/Media News ReleasePress release informing the citizens of the process for SPLOST VII.
Inter-Governmental Informational MeetingLocal governments will hold meeting to discuss inter-governmental agreement for
distribution of SPLOST proceeds.
Commission Workshops/Public Meetings
Commissioners will deliberate over the projects with the ultimate goal of having a
Final SPLOST VII List by August 1, 2015
Public Meetings will also be held to provide the Commissioners with input on the
priority/discussion of the projects.
June 30, 2015 SPLOST Request Forms DueThis is the deadline for all SPLOST requests to be submitted to Administration for
review and compilation.
Compilation & Review of RequestsAll requests will be reviewed to verify all necessary information is presented. All
information will be compiled to establish a final complete requested list to provide to
Commission.
July 21, 2015 Tentative SPLOST VII List Provided
The requested SPLOST VII List is provided to Commissioners for review.
July 21, 2015
Notices Mailed to Inter-Governmental AgenciesMayor's Office mail notices of meeting of governing authorities to the Mayors of
Hephzibah and Blythe to discuss inter-governmental agreement for distribution of
SPLOST VI proceeds. Notices must be mailed or delivered 10 days prior to the
meeting.
Public Meetings
August 3, 2015 to
October 31, 2015
Public Meetings will be held to provide the citizens with the information on SPLOST
VII.
March 18, 2015
March 30, 2015
July 24, 2015
Commission vote to authorize mayor to issue notice of Intergovernmental Meeting
to City of Hephzibah and City of Blythe
July 1, 2015 to July
14, 2015
May 15, 2015 to
August 1, 2015
Attachment number 1 \nPage 1 of 2
Item # 2
Augusta Georgia
Timeline for SPLOST VII
Election date: November 3, 2015
November 3rd -
election Item
Inter-Governmental Meeting
Local governments will hold meeting to discuss inter-governmental agreement for
distribution of SPLOST proceeds. They must meet no less than thirty (30) days prior
to the Call of Election by the Board of Elections.
August 18, 2015 Final SPLOST VII project list approved
The Final SPLOST VII List is due to begin the next process for the referendum.
August 19, 2015 to
August 28, 2015 Staff Preparation
The Staff and City Attorney will prepare all necessary documentation.
Commission Passes SPLOST Resolution
Commission passes SPLOST Resolution for November ballot. Special called meeting
before committee meetings. (Must be at least 60 days prior to election)
September 3, 2015 Board of Elections Convenes
The Board of Elections convenes in regular session to issue Call of Election.
Notice to Newspaper
Send Notice of Election/Resolution to newspaper for publication. Notice must be
published once per week for four consecutive weeks prior to the election.
September 29, 2015 Legal Notices Published - required for bonds
October 6, 2015 Legal Notices Published
October 13, 2015 Legal Notices Published
October 20, 2015 Legal Notices Published
October 27, 2015 Legal Notices Published
November 3, 2015 Date of Election
September 1, 2015
August 4, 2015
September 22, 2015
Attachment number 1 \nPage 2 of 2
Item # 2
1
SPLOST Phase VII
Proposed Timeline
Attachment number 2 \nPage 1 of 14
Item # 2
Proposed Election Date
November 3, 2015
2
Attachment number 2 \nPage 2 of 14
Item # 2
What is a SPLOST
•Special Purpose Local Option Sales Tax
•A SPLOST is an optional one percent
county sales tax used to fund capital outlay
projects proposed by the county
government and participating qualified
municipal Governments.
3
Attachment number 2 \nPage 3 of 14
Item # 2
Phase VI Update
•Current Collections – $147.9 million
–Total Amount to be Collected = $184.7 Million
•Average Monthly collection – $3.09 Million
•Projected End Date: March 31, 2016
4
Attachment number 2 \nPage 4 of 14
Item # 2
Projected Collection Amounts
•$37 Million per year
•$148 Million – 4 years
•$185 million – 5 years
•$222 million – 6 years
•Based on current collection rates, passage of HB 170 may decrease
SPLOST collections
5
Attachment number 2 \nPage 5 of 14
Item # 2
Work sessions and Public
Meetings
•May 15 to August 1, 2015 – meetings to discuss
and develop project lists
•August 3 to October 31, 2015 – meetings to
provide information on SPLOST VII projects
6
Attachment number 2 \nPage 6 of 14
Item # 2
Key Dates
•March 30, 2015 - Intergovernmental Informational Meeting
•July 21, 2015 - SPLOST VII request list provided to
commission
•August 18, 2015 – SPLOST VII Project list approved
•September 1, 2015 - Commission passes SPLOST Resolution
•September 3, 2015 - Board of Election issues Call of Election
•November 3, 2015 – Election Day
7
Attachment number 2 \nPage 7 of 14
Item # 2
Other election opportunities
•March 2016
– (collections would start July 1, 2016 – 3 month Gap)
•May 2016
–(collections would start September 1, 2016 -5 month gap )
•November 2016
–(Collections would start April 1, 2017 – 12 month gap)
•These dates will cause a gap in collections
8
Attachment number 2 \nPage 8 of 14
Item # 2
Delayed Collection Amounts
•3 month gap - $9.3 million
•5 month gap - $15.5 million
•12 month gap - $37 million
9
Attachment number 2 \nPage 9 of 14
Item # 2
Resources
•Georgia Municipal Association
– SPLOST: Building for the Future
–www.gmanet.com/Publications.aspx?CNID=19957
•ACCG
–Guide for County Officials
–www.accg.org/content.asp?contentid=1715
10
Attachment number 2 \nPage 10 of 14
Item # 2
? Questions ?
11
Attachment number 2 \nPage 11 of 14
Item # 2
12
November 3rd -
election Item
March 9, 2015 Committee Meeting
March 17, 2015 Commission Meeting
The Commission will be presented with the recommended SPLOST VII Timeline. Review and discuss the timeline, the period of years for the SPLOST, etc. Authorize Mayor to meet with Mayors of Hephzibah and Blythe
March 18, 2015
Notices Mailed to Inter-Governmental Agencies
Mayor's Office mail notices of meeting of governing authorities to the Mayors of Hephzibah and Blythe to discuss inter-
governmental agreement for distribution of SPLOST VII proceeds. Notices must be mailed or delivered 10 days prior to the
meeting.
March 18, 2015 SPLOST Information Advertised/Media News Release
Press release informing the citizens of the process for SPLOST VII.
March 30, 2015 Inter-Governmental Informational Meeting
Local governments will hold meeting to discuss inter-governmental agreement for distribution of SPLOST proceeds.
May 15, 2015 to
August 1, 2015
Commission Workshops/Public Meetings
Commissioners will deliberate over the projects with the ultimate goal of having a Final SPLOST VII List by August 1, 2015
Public Meetings will also be held to provide the Commissioners with input on the priority/discussion of the projects.
June 30, 2015 SPLOST Request Forms Due
This is the deadline for all SPLOST requests to be submitted to Administration for review and compilation.
Attachment number 2 \nPage 12 of 14
Item # 2
13
November 3rd - election Item
July 1, 2015 to July 14, 2015
Compilation & Review of Requests
All requests will be reviewed to verify all necessary information is presented. All information will be compiled to establish a final complete requested list to provide to Commission.
July 21, 2015 Tentative SPLOST VII List Provided
The requested SPLOST VII List is provided to Commissioners for review.
July 21, 2015
Commission vote to authorize mayor to issue notice of Intergovernmental Meeting to City of Hephzibah and City of Blythe
July 24, 2015
Notices Mailed to Inter-Governmental Agencies
Mayor's Office mail notices of meeting of governing authorities to the Mayors of Hephzibah and Blythe to discuss inter-governmental agreement for distribution of SPLOST VI proceeds. Notices must be mailed or delivered 10 days prior to the meeting.
Public Meetings
August 3, 2015 to October 31, 2015 Public Meetings will be held to provide the citizens with the information on SPLOST VII.
August 4, 2015
Inter-Governmental Meeting
Local governments will hold meeting to discuss inter-governmental agreement for distribution of SPLOST proceeds. They must meet no less
than thirty (30) days prior to the Call of Election by the Board of Elections.
August 18, 2015 Final SPLOST VII project list approved
The Final SPLOST VII List is due to begin the next process for the referendum.
August 19, 2015 to
August 28, 2015 Staff Preparation
The Staff and City Attorney will prepare all necessary documentation.
Attachment number 2 \nPage 13 of 14
Item # 2
14
November 3rd - election Item
September 1, 2015
Commission Passes SPLOST Resolution
Commission passes SPLOST Resolution for November ballot. Special called meeting before committee meetings. (Must be at least 60 days prior to election)
September 3, 2015 Board of Elections Convenes
The Board of Elections convenes in regular session to issue Call of Election.
September 22, 2015
Notice to Newspaper
Send Notice of Election/Resolution to newspaper for publication. Notice must be published once per week for four consecutive weeks prior to the election.
September 29, 2015 Legal Notices Published - required for bonds
October 6, 2015 Legal Notices Published
October 13, 2015 Legal Notices Published
October 20, 2015 Legal Notices Published
October 27, 2015 Legal Notices Published
November 3, 2015 Date of Election
Attachment number 2 \nPage 14 of 14
Item # 2
Finance Committee Meeting
3/10/2015 1:15 PM
Receive as information preliminary 4th qtr 2014 financial reports
Department:Finance
Caption:Receive as information preliminary financial reports for the year
ended December 31, 2014.
Background:Periodic financial reports are presented to keep the commission
apprised of the financial status of the organization.
Analysis:The attached reports are the preliminary results of the year ended
December 31, 2014. Per GASB standards, Augusta is required to
hold open its books for 60 days after year end so that receivables
and payables may be accurately recorded. The results of the 2014
audit which will be presented in June will have variances from the
reports being presented due to timing differences.
Financial Impact:
Alternatives:
Recommendation:receive as information.
Funds are Available
in the Following
Accounts:
REVIEWED AND APPROVED BY:
Finance.
Law.
Administrator.
Clerk of Commission
Cover Memo
Item # 3