|CENTURY RIDE FUNDED|
LOT REPORT AND REQUEST 6-5-13 LMS
Local Option Tax revenues for April totaled $3,511. That was $184 less than during the same period in 2012 according to a June 5 report to the Salmon City Council by LOT Commission Chairman and Councilman Jim Bockelman. Year-to-date LOT revenue is ahead of 2012 by $54.
The Commission has been learning as it goes and operating on projected revenues versus actual money in the account from a previous year. Requests that have been granted, but not yet paid, for events that wonít occur for several months in the future tend to put funds in the negative on paper. Bockelman said that the concern presently facing the commission is to not exempt any request from being considered but to also not leave the fund too close to zero.
Based on the LOTís brief past history the revenues collected through the Local Option Tax from May through September average around $50,500 which, Bockelman said given what has been Okíd for future payment, will put the end-of-year balance at approximately $14,000 if there are no further approvals for funds. As of right now however, before Summer revenues are collected, the paper balance sheet shows a minus $31,736. Bockelman said commission members had a good discussion at their May 28 meeting on the monthly financial reports and how to address future requests this fiscal year.
There was one request which the commission recommended for approval and that was for the Lemhi Valley Century Ride. Bockelman said the organizers have requested $670 for advertising posters, raffle prizes which will be innovatively used to track event information, and for port-a-potties. The amount requested is 14 percent of the event budget.
The ride is scheduled for June 22 and features a 100 mile bicycle ride and a 100 kilometer ride which is approximately 62 miles long. Last yearís event drew 100 riders 68 of whom were from outside this area. Twenty five of the 2012 riders stayed from one to five nights in local camp grounds or hotels and an estimated 90 meals were purchased in town.
Bockelman added that the group has been especially amenable and gracious over the years and has provided some great follow-up information. When the time came for a vote the City Council unanimously agreed to the $670 request.
The LOT Commissionís May 28 Roundtable discussion focused on establishing a time frame for reimbursement and also discussed the Main Street flower basket program which was sponsored with LOT funds.
The next LOT meeting is set for June 25 at 5:30 PM in the Salmon Valley Center meeting room. The meetings are open to the public.
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