Resort Tax Monitoring Committee

Agenda Resort Tax Monitoring Committee Remote Meeting – Via Webex Wednesday, January 13, 2021, 7:05 a.m. Event: Resort Tax Event address for attendees: https://cityofwhitefish.webex.com/cityofwhitefish/j.php?MTID=m05f6d9ccbe75391dee82ac5f52636da0 Date and time: Wednesday, January 13, 2021 7:00 am Mountain Standard Time (Denver, GMT-07:00) Duration: 1 hour Description: Resort Tax Monitoring Committee Meeting number: 146 345 1078 Event password: January2021@WF Video Address: Dial 1463451078@cityofwhitefish.webex.com you can also dial 173.243.2.68 and enter your meeting number Audio conference: Join by phone: 1.408.418.9388 United States Toll Access code: 146 345 1078  Call to Order.  Review and approve minutes for November 18, 2020.  Review the monthly financial report for November 2020.  Update on Streets/Parks Projects.  Discussion Item - Resort Tax Renewal/City Council Work Session (Review of Council Meeting). January 19, 2021 Public Hearing  Other Items.  Set next meeting date. (one of the agenda items for the February 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 November 18, 2020 Present: Andy Feury, Ken Stein, Julia Olivares, Brian Averill, Doug Reed, Chris Schustrom, Trek Stephens, Ben Dahlman, Dana Smith, Vanice Woodbeck, Craig Workman, Heidi Van Everen 1. Review Minutes from previous meeting. Minutes from the prior meeting were unanimously approved. 2. Review Financial Report September looked good. Some of the contributions had not been posted yet. August was a little higher due to money coming in late for June and July. Retail stayed steady. Bars and Restaurants struggled. Input from representatives Brian Averill (Lodging) - July was on par w/previous year. August was up over last year. September was strong year over year. Chris Schustrom (Lodging) - Reminded us of the effect of Going to the Sun Road being closed. Doug Reed (Restaurants) - Doug shared concerns about possible closings of restaurants due to COVID over the holidays. Trek Stephens (Retail) - September was close to par. He also observed that hard goods such as bikes boats did particularly well. 3. Update on State Park Road Project Winter came sooner than expected. They were able to pave the road, complete curbs and gutters and install signs and lighting, but shared use path and sidewalks will be postponed until Spring. The actual cost of this project remains under budget (less than original bid). 4. Resort Tax Renewal: Proposed changes by section Section B - Delete the word “existing” (provides the ability to add sidewalks) Section C - Add the word “Maintenance” (allows for acquisition and purchase of equipment) Section D - City Council recommended adding WF Trails with funds directed to trails only *A motion was made to support the new reallocation language proposed and all committee members were unanimously in favor. Further discussion took place on ideas to promote the revised allocation. Chris Schustrom offered to draft a letter in December that we can submit to City Council in January. 5. Next Meeting – January 13, 2021  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% 5.2% - 538,684 October 2020 88,284 112,076 119,814 320,174 14.56% - 320,174 November 2020 78,378 69,415 101,398 249,190 -14.32% - 249,190 December 2020 - - - - - - January 2021 - - - - - - February 2021 - - - - - - March 2021 - - - - - - April 2021 - - - - - - May 2021 - - - - - - June 2021 - - - - - - Total FY21 $ 737,000 $ 785,217 $ 840,594 $ 2,362,810 3.84% $ 2,400 $ 2,365,210 FY20 vs FY21 13.88% -5.16% 5.04% 3.84% or $ 87,458 Taxable Sales FY21 $ 82,905,621 FY21 % of Collections 31% 19% 20% 57% Grand Total $ 9,592,916 $ 18,293,268 $ 20,899,370 $ 48,785,554 $ 879,831 $ 49,665,936 % of Total Collections 20% 37% 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