03-11-03 Town Hall Meeting - Laserfiche WebLink

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. e Minutes of the Town Meeting - March 11, 2003 - Page 5 Director of Finance Cynthia Alexander explained what the City of La Porte does with revenue. We track revenue from over 180 individual line accounts. For each dollar that the City receives, the City gets $.34 from property taxes, another $.31 comes from in-lieu taxes, charges for services in the Community are $.10, franchise fees bring in $.07, miscellaneous services bring in $.11, and sales tax generates $.07. In-lieu taxes are payments generated by companies located in TIRZ; those monies are distributed to the general fund and the debt service fund. This year we expect to receive $7.2 million of in- lieu taxes and $8.3 million in property taxes. Fees from utility companies should be $1.7 million. Charges for'services include EMS, ambulance, police, tax collection for LPISD, trash pick-up, etc. Ms. Alexander discussed sales taxes. These taxes generate 7.3% of our total general fund revenue and 4.8% of overall revenue. The City expects to collect 1.8 million dollars in this fiscal year for the general fund and $900,000 for the La Porte Development Corporation, which is commonly referred to as the Section 4B ~ Cent Sales Tax Fund. The City receives 1 % tax on taxable retail sales within the City. The higher the economic activity for businesses in the community, the higher the sales tax revenue. The current sales tax rate is 7.75%, that's 6.25% for state, 1 % for the City, Yz % for the La Porte Development Corporation. The City expects to collect $2.7 million from this revenue source during the fiscal year. It is the City's policy to remain conservative on all estimates made in regards to revenue; this helps us to avoid making major adjustments during the year. In the media, you hear of cities which are really hurting from sales tax. We analyze our historical activity and adjust accordingly. We are not as dependent on sales tax as other cities. Due to the economy, they anticipate when it will fall. As citizens, we need to utilize the businesses in our community, which in turn, benefits the community and its citizens. Director of Parks and Recreation Stephen Barr spoke of the progress since the 1984 Parks Master Plan. The park inventory has been increased by at least 50%; Little Cedar Bayou Park, the Golf Course, Northwest Park, Seabreeze Park, Brookglen Park, Bay Oaks Park, Pine Bluff and Glen Meadows Park (this park has been a real asset to the City). Our Master Plan is adjunct to the City's overall Comprehensive Plan. Two areas for the Parks Master Plan are population-based growth, 10 acres for 1000, now we are at 7 acres for 1000. The man-based growth is what we have to offer to citizens. In approving what we have, we plan to improve a park every year. San Jacinto Pool is now a tremendous asset to the community. Central Park Hockey Rink is another asset for the City. An "E" Street buffer has been built between residential and commercial properties. Another progress is to implement pedestrian/bicycle trails (this will involve a 20-year program and approximately $2 million); this will tie in all the parks and the central business district. We did obtain a grant from TXDOT for the trail system. In addition, we have received a number of grants for the Little Cedar Bayou erosion protection; a grant for the pedestrian bridge and playground at Little Cedar Bayou; a project for beautification of Highway 225; another grant we received is for the Sylvan Beach Erosion ProtectionlBeach Restoration Project.