Resort Tax Monitoring Committee

Agenda Resort Tax Monitoring Committee Remote Meeting – Via Webex Wednesday, November 18, 2020, 7:05 a.m. Event: Resort Tax Monitoring Committee Event address for attendees: https://cityofwhitefish.webex.com/cityofwhitefish/onstage/g.php?MTID=ef3f50343fc0463c14f79f9ce2c5292c0 Date and time: Wednesday, November 18, 2020 7:00 am Mountain Standard Time (Denver, GMT-07:00) Duration: 1 hour Description: Resort Tax Monitoring Committee Event number: 146 700 6840 Event password: BdRrU4TQP25 Video Address: 1467006840@cityofwhitefish.webex.com You can also dial 173.243.2.68 and enter your meeting number. Audio conference: To receive a call back, provide your phone number when you join the event, or call the number below and enter the access code. United States Toll Free 1-844-992-4726 United States Toll +1-408-418-9388 Show all global call-in numbers Show toll-free dialing restrictions Access code: 146 700 6840 • Call to Order. • Review and approve minutes for October 14, 2020. • Review the monthly and quarterly financial report for September 2020. • Update on Streets/Parks Projects. • Discussion Item - Resort Tax Renewal/City Council Work Session (Review of Council Meeting). • Other Items. • Set next meeting date. (one of the agenda items for the December meeting will be Resort Tax project priority setting). Members Andy Feury Doug Reed Ken Stein Chris Schustrom Julia Olivares Trek Stephens Brian Averill A. Property tax reduction for taxpayers residing in the city in an amount equal to twenty five percent (25%) of the three percent (3%) resort tax revenues derived during the preceding fiscal year; B. Provision for the repair and improvement of existing streets, storm sewers, all underground utilities, sidewalks, curbs and gutters, in an amount equal to sixty five percent (65%) of the two percent (2%) resort tax revenues derived during the preceding fiscal year; C. Bicycle paths and other park capital improvements in an amount equal to five percent (5%) of the two percent (2%) resort tax revenues derived during the preceding fiscal year; D. Repayment of a loan or a bond to finance a portion of the costs of, or to otherwise pay for, the acquisition of the conservation easement or other interests, in and around Haskill Basin in order to protect and preserve water quality and quantity, including the source drinking water supply for the municipal water system of the city of Whitefish, in an amount equal to seventy percent (70%) of the one percent (1%) resort tax revenues to be received in a fiscal year, except that if such portion of resort tax revenues received in a fiscal year is more than is needed in that fiscal year for such loan or bond, the excess will be applied to additional property tax relief in the next fiscal year; E. Cost of administering the resort tax in an amount equal to five percent (5%) of the three percent (3%) resort tax per year.  Resort Tax Monitoring Committee Minutes October 14, 2020 Via Webex Present: Andy Feury, Ken Stein, Doug Reed, Trek Stephens, Ben Dahlman, Maria Butts, and Craig Workman. 1. Call to Order • Meeting was called to order by Doug. A quorum was present. 2. Ratify the decision to conduct remote meetings • A motion to ratify the decision to conduct Resort Tax Monitoring Committee Meetings remotely was made by Andy Feury and seconded by Ken. All committee members present voted in favor to approve. 3. Review Minutes from previous meeting • A motion to approve the minutes from the July 22, 2020 meeting was made by Ken and seconded by Andy. All committee members present voted in favor to approve 4. Review Financial Reports • Ben provided an overview of the financials for the current period. He made a note that the quarterly report for June 2020 included an error in the percentage of total resort taxes collected in FY2020. The number should have been -2.38% instead of a +51.59%. 5. Update From Public Works and Parks Projects • Craig provided an update on the State Park Road project which is progressing well despite the recent rainy weather. The project is progressing as expected and within budget and should be complete later this year. Ken asked about the Baker Street Underpass project and Craig provided a brief update. Craig also mentioned that RPA was hired for the Edgewood project to Texas. Maria provided an update of the Armory Park project. It is mostly complete and the fields are not yet open as the turf area has recently been seeded. Maria also mentioned that the City is working on hiring a firm for the Armory well project and will have an update in November. She mentioned that the Memorial Park project is delayed. 6. Resort Tax Transmittal Form • Ben presented the new Resort Tax Transmittal form which had been modernized and included a certification section and a special event check box. Trek asked  whether or not the form will be available online. Ben discussed that the intention is for the form to be a fillable form online. 7. Discussion Item - Resort Tax Renewal/City Council Session • Andy provided a summary of the City Council’s Resort Tax Renewal work session of June 15th. The Work Session presented language related to the reallocation the sunsetting 1% that will not be needed for the Haskill Basin financing to streets and parks and for maintenance in a future Resort Tax renewal. Andy shared that there has been discussions related to whether or not the 1% be allocated to; open space, there was no appetite for that; housing, there was no appetite for that; and mention of allocating it to non-profits and there was no appetite for that either. There was a discussion whether or not the Resort Tax Committee should make a motion to support a change for streets, parks and maintenance. It was determined that the Committee make a motion to support the Council’s direction. It was motioned by Trek and seconded by Ken and it passed unanimously to proceed with streets, parks and add maintenance. The discussion ended with when the Council’s work session would be and it was shared by Craig that the work session is scheduled for November 16th. The Committee wanted to know if they would be a part of the next steps. Given the process, the Committee would have the opportunity to contribute toward the future direction of the Resort Tax renewal. 8. Other Meeting Items None. 9. Set Next Meeting Date Next Resort Tax meeting was set for November 18th, 2020 because it would be after the scheduled Council Work Session on November 16th, 2020.  QUARTERLY RESORT TAX REPORT BY MONTH COLLECTED BY BUSINESSES As of October 31, 2020 Bars & Lodging Restaurants Retail Change Month Change from Change from from Same Change from Number of Collected by Same Month Bars & Same Month Month in Same Month in Delinquencies Business Lodging in Prior Year Restaurants in Prior Year Retail Prior Year Total Prior Year Each Month Jul-18 $ 209,479 6.54% $ 224,416 4.30% $ 208,033 5.14% $ 641,927 5.30% 0 Aug-18 $ 196,008 3.53% $ 211,754 5.73% $ 210,131 13.92% $ 617,893 7.64% 0 Sep-18 $ 121,466 25.46% $ 152,062 9.87% $ 127,773 3.32% $ 401,302 11.82% 0 Oct-18 $ 41,123 16.39% $ 110,255 9.06% $ 89,508 8.01% $ 240,886 9.84% 0 Nov-18 $ 20,430 2.07% $ 83,564 6.03% $ 139,572 -3.43% $ 243,566 0.09% 0 Dec-18 $ 48,814 22.81% $ 139,107 13.09% $ 168,164 1.37% $ 356,085 8.35% 0 Jan-19 $ 38,397 7.13% $ 115,302 4.44% $ 94,294 -0.29% $ 247,993 2.98% 0 Feb-19 $ 45,448 0.26% $ 111,945 -3.74% $ 110,085 2.46% $ 267,478 -0.59% 0 Mar-19 $ 39,761 10.67% $ 117,673 2.94% $ 100,113 7.40% $ 257,547 5.79% 0 Apr-19 $ 22,237 10.25% $ 91,009 3.82% $ 81,381 9.72% $ 194,627 6.94% 0 May-19 $ 52,306 12.42% $ 119,374 5.61% $ 170,095 5.01% $ 341,775 6.29% 0 Jun-19 $ 126,961 9.91% $ 172,737 10.27% $ 156,651 -4.81% $ 456,349 4.49% 0 Total FY19 $ 962,430 9.72% $ 1,649,199 6.05% $ 1,655,800 3.80% $ 4,267,429 5.96% 0 Jul-19 $ 238,060 13.64% $ 252,855 12.67% $ 234,990 12.96% $ 725,905 13.08% 0 Aug-19 $ 218,503 11.48% $ 225,504 6.49% $ 189,528 -9.81% $ 633,535 2.53% 0 Sep-19 $ 127,868 5.27% $ 164,015 7.86% $ 134,392 5.18% $ 426,275 6.22% 0 Oct-19 $ 41,880 1.84% $ 110,864 0.55% $ 94,657 5.75% $ 247,402 2.70% 0 Nov-19 $ 19,706 -3.54% $ 88,202 5.55% $ 156,057 11.81% $ 263,965 8.38% 0 Dec-19 $ 44,874 -8.07% $ 135,515 -2.58% $ 175,909 4.61% $ 356,297 0.06% 0 Jan-20 $ 43,659 13.71% $ 122,890 6.58% $ 133,931 42.04% $ 300,480 21.16% 0 Feb-20 $ 54,199 19.25% $ 134,119 19.81% $ 123,519 12.20% $ 311,837 16.58% 0 Mar-20 $ 26,672 -32.92% $ 75,120 -36.16% $ 87,042 -13.06% $ 188,834 -26.68% 0 Apr-20 $ 3,513 -84.20% $ 28,998 -68.14% $ 81,643 0.32% $ 114,154 -41.35% 0 May-20 $ 8,665 -83.43% $ 64,085 -46.32% $ 169,717 -0.22% $ 242,466 -29.06% 1 Jun-20 $ 60,493 -52.35% $ 124,827 -27.74% $ 183,367 17.05% $ 368,687 -19.21% 4 Total FY20 $ 888,092 -7.72% $ 1,526,994 -7.41% $ 1,764,751 6.58% $ 4,179,837 -2.05% 5 Jul-20 $ 189,238 -20.51% $ 201,228 -20.42% $ 237,868 1.22% $ 628,335 -13.44% 7 Aug-20 $ 207,435 -5.07% $ 202,926 -10.01% $ 202,325 6.75% $ 612,686 -3.29% 17 Sep-20 $ 148,814 16.38% $ 169,366 3.26% $ 177,141 31.81% $ 495,321 16.20% 25 Oct-20 Nov-20 Dec-20 Jan-21 Feb-21 Mar-21 Apr-21 May-21 Jun-21 Total YTD FY21 $ 545,487 -6.66% $ 573,520 -10.72% $ 617,334 10.45% $ 1,736,342 -2.76% 49 Dollar figures above are not adjusted for delinquencies.  Resort Tax Report Reported in the Month Businesses Collected Tax BARS & MONTH/YEAR LODGING RESTAURANTS RETAIL COLLECTED INTEREST TOTAL Total FY18 $ 875,126 $ 1,567,210 $ 1,599,193 $ 4,041,530 8.96% $ 23,749 $ 4,065,279 FY17 vs FY18 (3% vs 3%) 13.30% 8.83% 6.85% 8.96% or $ 332,338 Taxable Sales FY18 $ 141,808,062 July 2018 119,942 177,844 198,144 495,929 3.68% 3,106 499,035 August 2018 264,354 229,620 197,726 691,700 2.98% 3,679 695,379 September 2018 142,291 164,124 140,948 447,364 22.09% 7.8% 3,651 451,015 October 2018 20,456 97,842 88,200 206,499 8.06% 4,961 211,460 November 2018 35,406 103,516 144,150 283,072 -4.31% 4,361 287,433 December 2018 55,411 164,740 170,097 390,248 23.47% 9.6% 2,934 393,182 January 2019 18,604 104,553 93,126 216,282 -5.90% 1,484 217,766 February 2019 65,030 115,721 112,557 293,308 3.05% 2,964 296,272 March 2019 39,314 99,013 96,841 235,168 -1.17% -1.0% 3,516 238,684 April 2019 10,603 95,642 90,323 196,568 -2.56% 3,636 200,204 May 2019 66,270 129,909 166,386 362,565 13.36% 3,845 366,410 June 2019 127,881 172,006 159,794 459,681 2.58% 5.1% 3,792 463,473 Total FY19 $ 965,561 $ 1,654,530 $ 1,658,293 $ 4,278,383 5.86% $ 41,929 $ 4,320,312 FY18 vs FY19 10.33% 5.57% 3.70% 5.86% or $ 236,854 Taxable Sales FY19 $ 150,118,717 July 2019 232,446 249,822 222,176 704,445 42.05% 4,227 708,672 August 2019 107,985 171,849 184,288 464,123 -32.90% 4,340 468,463 September 2019 202,784 187,080 146,596 536,460 19.92% 4.3% 4,210 540,670 October 2019 72,020 114,362 93,111 279,493 35.35% 3,500 282,993 November 2019 31,925 104,797 154,109 290,831 2.74% 2,351 293,182 December 2019 26,204 122,189 176,468 324,861 -16.76% 1.7% 2,181 327,042 January 2020 47,244 113,913 135,507 296,664 37.17% 1,225 297,889 February 2020 28,523 88,008 119,748 236,279 -19.44% 3,502 239,781 March 2020 9,979 56,382 86,606 152,967 -34.95% -7.9% 2,172 155,139 April 2020 6,957 71,096 87,353 165,406 -15.85% 1,799 167,205 May 2020 50,570 105,786 173,207 329,563 -9.10% 1,470 331,033 June 2020 42,139 110,343 182,042 334,524 -27.23% -18.6% 3,736 338,260 Total FY20 $ 858,777 $ 1,495,628 $ 1,761,211 $ 4,115,615 -3.80% $ 34,713 $ 4,150,328 FY19 vs FY20 -11.06% -10.86% 6.21% -3.80% or $ (162,768) Taxable Sales FY20 $ 144,407,560 July 2020 178,173 214,968 236,685 629,826 -10.59% 1,500 631,326 August 2020 234,063 196,817 194,056 624,936 34.65% 900 625,836 September 2020 158,102 191,941 188,641 538,684 0.41% - 538,684 October 2020 - - - - - - November 2020 - - - - - - December 2020 - - - - - - January 2021 - - - - - - February 2021 - - - - - - March 2021 - - - - - - April 2021 - - - - - - May 2021 - - - - - - June 2021 - - - - - - Total FY21 $ 570,338 $ 603,726 $ 619,382 $ 1,793,446 5.19% $ 2,400 $ 1,795,846 FY20 vs FY21 4.99% -0.83% 11.99% 5.19% or $ 88,418 Taxable Sales FY20 $ 62,927,930 FY21 % of Collections 32% 15% 15% 44% Grand Total $ 8,855,917 $ 17,508,051 $ 20,058,777 $ 46,422,744 $ 877,431 $ 47,300,725 % of Total Collections 19% 38% 43% 2.9% Average since '96 Total Resort Tax Collections by Month Total Taxable Sales Since 1996 Oct s/b800,000 Sept 10 $ 2,410 $ 6,447 $ 5,099 $ 13,956 $ 94,556 FY96-FY15 $ 1,415,763,781 Oct s/b Sept 09 $ 239 $ 1,327 $ 4,406 $ 5,971 86,077 FY16-YTD $ 685,025,698 700,000 Total $ 2,100,789,479 600,000 $ 2,172 $ 5,120 $ 693 $ 7,985 FY18 Total Collected 500,000 FY96-FY15 $ FY19 28,315,276 FY16-YTD $ FY20 20,550,771 400,000 Total $ 48,866,047 FY21 300,000 5% Admin FY96-FY15 $ 1,415,764 200,000 FY16-YTD $ 1,027,539 Total $ 2,443,302 100,000 - Public Portion Jul Aug Sep Oct Nov Dec Jan Feb Mar Apr May Jun FY96-YTD $ 46,422,744