HomeMy WebLinkAbout2015-06 Final Budget
---------- Forwarded message ----------
From: Mike McGinness <mmcginness@mcginness-shaw.com>
Date: Tue, Jun 9, 2015 at 12:43 PM
Subject: Final Budget
To: Brent Miles <brent@northpointkc.com>, "Donald P. Coleman"
<colemanheavyconst@yahoo.com>, Jeff Goodwin
<jeffg@completehomeconcepts.com>, Richie Benninghoven <rcb@usckc.com>,
Ron Super <rsuper@kc.rr.com>
Cc: Ben Drake <ben.rqbld@gmail.com>
Board members,
I am sending you the final budget for 2015-2016 for your
review prior to the Board meeting on June 16th. The first part of the
budget lists all of the sources of funds which the Levee District will
receive to make the 2016 debt service bond payments and to pay the
Operation and Maintenance expenses. The next portion of the budget
shows all of the expenditures which include the 2016 debt service bond
payments and the Operation and Maintenance costs.
The budget reflects the changes which were made as a result
of the discussion which the Board had at the May 20th meeting concerning
the Operation and Maintenance costs for the coming year. The City of
Riverside confirmed that there will be sufficient TIF funds to reach the
maximum amount (2/3rds of the 2016 bond payments) which the Levee
District is allowed to apply to the debt service payments. In addition,
UMB confirmed that there will be an excess balance in the Debt Service
Fund account after the 9/1/15 bond payment. The excess amount in the
Debt Service Fund account will be applied to the debt service payments
made in 2016. This amount is shown as $20,000.00 in the first part of
the budget. The remainder of the debt service payments in 2016 will
come from the annual Installment Tax. The Levee District is required to
levy a 5% contingency plus a 1% collector’s commission in addition to
the amount of the Installment Tax needed to pay the 2016 debt service
payments. The amount of the Installment Taxes, including the 5%
contingency and the 1% collector’s commission, is shown as $490,988.00.
This is approximately $4,000.00 higher than the Installment Tax levied
last year.
Please contact me if you have any questions about the final
draft of the budget. The budget will be presented at the Board meeting
for approval. Thank you.
Michael McGinness
Melinda Sluder
McGinness & Shaw, LLC
303 Marshall Road, Suite 1
P.O. Box 168
Platte City, MO 64079
Tel: 816-858-2630
Fax: 816-431-5086
msluder@mcginness-shaw.com
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