[Call to Order]
[00:00:10]
ATTENTION UP HERE. WE ARE AS THE CITY COUNCIL, WE ARE GOING INTO OUR SPECIAL MEETING FOR THE PURPOSES OF THE FINANCE COMMITTEE, AND MITCH ALLEN WILL TAKE OVER. SO, ALLEN, YOU HAVE THE GAVEL AS SOON AS. MR. CHAIRMAN, WE NEED TO TAKE ROLL CALL. I'M SORRY, MR. OMAR HERE.
ANDERSON HERE. INGA HERE. BARRY. HERE. HERE. HERE. HERE. HERE. OKAY. ALL RIGHT. GREAT. ALL
[Proposed Income Tax Increase ]
RIGHT. THANK YOU. SO THIS EVENING IN THIS SESSION, WE ARE GOING TO DISCUSS THE PROPOSED INCOME TAX INCREASE. SO THE ADMINISTRATION HAS AN INCOME TAX HISTORICAL COLLECTION AND OVERALL CITY FINANCIAL STATE OF AFFAIRS PRESENTATION, WHICH I BELIEVE IS IS THAT OKAY? SO WHO'S GOING TO BE PRESENTING THAT? OKAY. GOOD EVENING. MEMBERS OF COUNCIL AND MAYOR.WE'RE WE'RE GOING TO TALK ABOUT INCOME TAXES TONIGHT AND OVERALL CITY FINANCES. HOW WE GOT HERE WAS THE FINANCE COMMITTEE WAS CREATED TO MAKE RECOMMENDATIONS ON HOW WE COULD FINANCE A COMMUNITY CENTER. THEY MADE RECOMMENDATIONS ON HOW TO PAY FOR THE CAPITAL, AND THEY MADE A RECOMMENDATION OF INCREASING THE INCOME TAX RATE BY ONE HALF A PERCENT TO PAY TO HELP PAY FOR OPERATIONS OF THE COMMUNITY CENTER. THE MEMBERS OF THAT FINANCE COMMITTEE WERE MR. HOLT, COUNCILMAN HOLT, COUNCIL MEMBER ANTHONY WILSON, MICHAEL FARNSWORTH, JAMIE HANNON AND GARY JAMES. AND I WANT TO THANK THEM FOR THE THE GOOD WORK THAT THEY DID FOR THAT. SO NOW WE'RE HERE TODAY TO TALK ABOUT WHY WE NEED AN INCOME TAX INCREASE. AND ACTUALLY, IT'S FOR MORE THAN JUST FOR FINANCING OF THE COMMUNITY CENTER. WE'VE BEEN TALKING ALL ALONG THAT OUR GENERAL FUND REVENUES ARE FLATTENING AND OUR EXPENDITURES ARE CONTINUING TO INCREASE. CAN I MOVE? OKAY. YEAH, JUST SLIDE IT UP. YOU GOT IT. YEAH. THE REASON I WANTED TO SHOW YOU THIS SLIDE WAS JUST TO TELL MEMBERS OF COUNCIL AND EVERYBODY THAT WE PRODUCE AN ANNUAL COMPREHENSIVE REPORT EVERY YEAR. AND THIS REPORT IS PROBABLY OVER 200 PAGES LONG. IT INCLUDES DETAILED FINANCIAL STATEMENTS, NOTES EXPLAINING THE CITY'S DEBT STRUCTURE, OUR INVESTMENTS, OUR ASSETS, OUR ACCOUNTING PRINCIPLES, HOW WE DO BUDGETS. THERE'S A TONS OF GOOD INFORMATION IN HERE. AND THE REASON I WANT TO TALK ABOUT THIS IS BECAUSE WE'RE ONLY GOING TO SEE LIMITED FINANCIAL INFORMATION TONIGHT, WHAT I'VE PICKED OUT, BUT THERE'S EVERYTHING IN THIS REPORT AND YOU CAN COMPARE IT. YOU CAN GO ON THE AUDITOR OF STATE SITE AND COMPARE IT TO ANY CITY IN OHIO. THEY'RE ALL REQUIRED TO PREPARE THE SAME STATEMENT, AND IT'S PREPARED ON THE SAME METHOD, THE SAME ACCOUNTING METHOD. SO IT'S EASY TO GET APPLES TO APPLES COMPARISONS AND YEAR TO YEAR COMPARISONS ALSO. JUST BACK TO THAT OTHER SLIDE ON GROVE CITY'S WEBSITE, ARE ALL OF THOSE REPORTS AND OUR ANNUAL BUDGETS. OUR ANNUAL BUDGETS, IN MY OPINION, ARE SOMEWHAT EASIER TO READ AND UNDERSTAND, A LITTLE SIMPLER TO FOLLOW, BUT THERE'S REALLY GOOD INFORMATION ON OUR ANNUAL BUDGETS ALSO. SO EVERY MONTH I PROVIDE YOU A FUND BALANCE REPORT. AND I DON'T I KNOW WE HAVE A LOT OF NEW MEMBERS OF COUNCIL AND WE REALLY HAVEN'T TALKED ABOUT A LOT OF THIS, BUT WE HAVE 37 DIFFERENT FUNDS AND ALL OF THOSE FUNDS, EXCEPT FOR THE GENERAL FUND, ARE RESTRICTED IN WHAT WHAT THEY CAN BE USED FOR. SO FOR EXAMPLE, I JUST HIGHLIGHTED A COUPLE.
THE PINNACLE TIP FOR ONE, WE GET MONEY THAT TIFF MONEY COMES IN AND IT HAS TO BE ISOLATED INTO THAT FUND. IT'S PUT INTO THAT FUND, AND IT CAN ONLY BE USED FOR PAYING THE DEBT SERVICE OF THAT FUND OR OTHER ITEMS THAT HAVE BEEN APPROVED BY CITY COUNCIL. ONE OTHER EXAMPLE IS A WATER AND SEWER SURCHARGES. OUR RESIDENTS GET BILLED BY THE CITY OF COLUMBUS.
SOME OF THE. SOME OF THAT. A SMALL PORTION OF THAT FEE COMES TO THE CITY OF GROVE CITY SO WE CAN MAINTAIN THE INFRASTRUCTURE OF WATER AND SEWERS. BUT THIS IS JUST GOVERNMENT ACCOUNTING IN A WAY TO SEGREGATE THE THE FINANCES PROPERLY AND ALLOW FOR THEM TO BE SPENT PROPERLY, AND ALLOWS US TO STAY LEGALLY LEGALLY COMPLIANT. SO WITH ALL THOSE BEING RESTRICTED, THE
[00:05:06]
GENERAL FUND IS WHAT WE'RE GOING TO TALK ABOUT FOR THE REST OF THIS EVENING. THE LAST THREE YEARS, INCLUDING THE ESTIMATE FOR 2026. IF YOU JUST VISUALLY YOU CAN SEE THIS TOTAL GENERAL FUND RECEIPTS ARE NOT INCREASING. THEY ARE FAIRLY FLAT AND WE REALLY DON'T SEE A ANY REASON OR ANYTHING THAT WE CAN PREDICT IN THE FUTURE TO TELL US THAT THIS TREND WON'T CONTINUE TO STAY FLAT AND. THE PERCENTAGES AT THE BOTTOM, THE 83%, 80%, THAT JUST SHOWS YOU WHAT PORTION OF OUR GENERAL FUND IS COMPRISED OF INCOME TAXES. AND IT'S BEEN ABOUT 80% HISTORICALLY, ESPECIALLY THE PAST 10 TO 15 YEARS. IF WE GO TO THE NEXT SLIDE, THE OTHER ITEMS THAT MAKE UP THE GENERAL FUND RECEIPTS ARE IF WE DON'T TALK ABOUT INCOME TAXES NOW, WE'RE GOING TO GET TO THAT LATER. BUT I JUST WANT TO TALK ABOUT THE INTEREST LINE IS THE LAST THREE YEARS WE'RE EARNING ALMOST $3 MILLION, BUT THAT CANNOT BE COUNTED ON. THE INTEREST THAT WE EARN IS STRICTLY A FUNCTION OF WHAT WE HAVE TO INVEST IN, THE INTEREST RATES THAT WE CAN EARN. WE'RE LIMITED TO ONLY INVEST ON SECURITIES WITH MATURITIES OF LESS THAN FIVE YEARS. SO IT'S VERY CLOSE TO THE FEDERAL FUNDS TARGET RATE, WHICH FROM 2009 TO 2019 WAS NEXT TO NOTHING. AND THE FEDERAL FUNDS TARGET RATE IS SET TO STIMULATE THE ECONOMY.SO THEY KEEP IT LOW TO STIMULATE THE ECONOMY. WHEN WHEN INTEREST RATES START TO WHEN THEY WANT TO DECREASE INTEREST RATES, THAT'S TO STIFLE INFLATION NORMALLY. SO IT'S REALLY MORE COMPLICATED THAN THAT. I'M NOT AN ECONOMIST, BUT WE ARE. IT'S REALLY OUT OF OUR CONTROL. THE INTEREST THAT WE EARN, WE CAN'T GO OUT THERE AND INCREASE THAT LINE. THE SECOND LINE INTERGOVERNMENTAL REVENUES. THAT'S REVENUE WE GET FROM THE STATE OF OHIO AND OTHER STATE AND FEDERAL GRANTS. THAT FUND WAS ACTUALLY REDUCED BACK IN 2008. WE RECEIVED $1.3 MILLION FOR OUR LOCAL GOVERNMENT FUNDING. NOW TODAY, IT'S JUST OVER A MILLION OR JUST UNDER $1 MILLION. SO THAT'S $300,000 REDUCTION. OTHER INTERGOVERNMENTAL FUNDING COULD. IN 2013, WE RECEIVED $650,000 FROM THE ESTATE TAX. SO THE OHIO LEGISLATURE CHANGED THAT. THEY REPEALED THE ESTATE TAXES. SO THAT FUNDING SOURCE WAS ALSO TAKEN AWAY FROM US. MY POINT IS THAT SOME THE INTERGOVERNMENTAL LINE IS NOT ALIGNED THAT WE CAN GROW REAL PROPERTY TAXES. A FOURTH LINE THAT INCREASED DRAMATICALLY IN 2024, AND THAT WAS DUE TO THE COUNTY REEVALUATIONS. THEY VALUE PROPERTY EVERY SIX YEARS. AND I THINK I BELIEVE NATIONWIDE, AND ESPECIALLY IN OHIO, PROPERTY PRICES HAVE SPIKED RIGHT IN THAT PERIOD.
THAT DOESN'T MEAN THEY'RE GOING TO CONTINUE TO SPIKE. HISTORICALLY THEY HAVE NOT. SO SO ONCE AGAIN, THAT'S NOT A LINE THAT WE CAN GROW. AND THE REST OF THEM WE'RE GETTING TO LOWER AND LOWER SOURCES AS WE GO. IT'S NOTHING THAT CAN REALLY MAKE A DENT IN OUR BUDGET. AND THEN WHEN YOU LOOK AT THE ALTERNATIVE, THE ALTERNATE SIDE, WHICH IS OUR GENERAL FUND EXPENSES, I GAVE YOU THE LAST FOUR YEARS AND IN RED THERE I'VE DEON OPETINGRA EXNSES. PED TANTHAS IDDING A GENE'STUS TAKGINUR O TALOT AMOUFUNDXPENSE ES, LESS THE NT THATE W TRANSRREDFEO CITALAP IMPROMENTVE FUND FOR PROCTS.JE A YOUND CAN SEE MILLJUSTT' RND INOU 22,02 31 N,IOHEN IT TOES T GO 34 37,0NLL THEOLLOWI FNGEAR, Y ,000 I0024,N 40,00000 IN0, INCRHAT'.S AERY V CSISTENONT MILLEAF LOOKSIKE L ABOUT $3 ISOER YEA PR. T 26HE BUDTGE NEAR9 MILL 4N.IO NOWWE'RE, G TO SINNDPE 49,0,00000 IN026. B 2UT ESTIM IEAT THAT HE AUALSCTOME IN CT THE A 2026, THATHAT TILL BE W BEEEN 43TWND 44 A MILON.LI I GUS. THEES NT SLIDEX PLEASE,E. FHE T SERCES THVIAT I ANTED W POINTTOUT O THA TE PROARDEDVI BYHOSE T GOINE ANDHY W THEY' NOTRE CONTECREAS D WHYE,HEY T UE TOIN INCREASE. I MEAN, YOU MIGHT YOU MIGHT SAY, WELL, WHY CAN'T WE WORK ON THAT AND SLOW IT DOWN OR STOP IT? BUT THE LARGEST EXPENDITURE IS FOR OUR POLICE, WHICH IS FOR THE SAFETY AND SECURITY OF OUR RESIDENTS AND PROPERTY. AND WE
[00:10:04]
HAVE A POPULATION OF 44,000 WHICH CONTINUES TO GROW. WE HAVE, I THINK, 71 OFFICERS ON STAFF, AND WE'RE BEHIND. WE'RE BOUND BY COLLECTIVE BARGAINING AGREEMENTS. THE THE LARGEST EXPENDITURE FOR OUR ALL OF OUR DEPARTMENTS, OUR SALARIES AND. THOSE THOSE BARGAINING AGREEMENTS WILL CONTINUE TO BE PUT IN PLACE AND WILL CONTINUE TO PAY INCREASES. WE HAVE A LARGE ORGANIZATION, 200 FULL TIME EMPLOYEES, 140 PART TIME EMPLOYEES. THERE IS OVERHEAD THAT THAT GOES ALONG WITH ANY ENTITY WHICH OVERHEAD WOULD BE LEGAL ACCOUNTING. IT IT'S THERE, THERE UNDENIABLE EXPENSES THAT THAT GO ALONG WITH ANY ORGANIZATION. THE ACRES OF PARKLAND AND OPEN SPACE THAT OUR CITY AND US COUNCIL MEMBERS AND OUR MAYOR DEMANDS TO BE KEPT IN PRISTINE CONDITIONS OR AS CLOSE TO PRISTINE AS POSSIBLE. WE KEEP INHERITING MORE PARKLAND, MORE, MORE. WE HAVE MORE EVENTS THAT THAT WE THAT WE PUT ON MORE PEOPLE COMING TO THEM. SO IT'S NOT ANY ONE THING THAT THAT PUSHES OUR EXPENDITURES UP, BUT IT'S IN TOTALITY, ALL OF THEM. I WANTED TO MAKE ONE MORE POINT. OUR IT DEPARTMENT, I'LL PICK ON TODD HAS A ALMOST A $5 MILLION BUDGET, BUT THAT IN TODAY'S WORLD IS ONE OF THE MOST IMPORTANT, IN MY OPINION, ONE OF THE MOST IMPORTANT DEPARTMENTS THAT AN ENTITY CAN HAVE. WE HAVE OVER A MILLION ATTACKS, DATA POINT ATTACKS ON OUR NETWORK DAILY, AND TODD IS IN CHARGE TO TRY TO KEEP OUR NETWORK SAFE, WHICH CONTAINS SENSITIVE INFORMATION ABOUT EVERY ONE OF US AND ALL OF OUR BUSINESS PARTNERS. SO. IN GENERAL, EXPENDITURES ARE HARD TO CONTROL. WE DON'T HAVE A REAL SOURCE OR REAL PATH FORWARD TO INCREASE OUR REVENUES. WE HAVEN'T TALKED ABOUT INCOME TAXES, BUT WE'RE GOING TO TALK ABOUT THAT IN A MINUTE. SO IF WE LOOK AT THE TREND LINE. THIS IS. LIKE I SAID, IT'S THE RED OUR GENERAL FUND EXPENDITURES. IT'S UNDENIABLE THAT THEY ARE INCREASING AND WILL CONTINUE TO INCREASE. THE GREEN ARE TOTAL GENERAL FUND REVENUES. AND THE BLUE IS INCOME TAX RECEIPTS WHICH ARE CLEAR ARE LEVELING OFF NOW. THEY WON'T MEET EACH OTHER. WE DO A BUDGET EVERY YEAR AND WE HAVE BENCHMARKS. WE ALWAYS WILL. WE ESTIMATE WHAT THE GREEN LINE WILL BE AND THEN WE KNOW WHAT WE'RE WE NEED TO OPERATE. WE DO OUR BEST TO KEEP A LEAN BUDGET. AND BY LAW, WE CAN'T BUDGET MORE THAN WE ANTICIPATE HAVING. SO EVENTUALLY WE WILL NEED TO CUT OUR CAPITAL IMPROVEMENTS BECAUSE THAT IS A FUNCTION OF WHAT'S LEFT OVER. WE TAKE OUR TOTAL GENERAL FUND REVENUES, WE LOOK AT WHAT WE NEED TO OPERATE, AND THEN WE SEE WHAT WE HAVE AVAILABLE FOR PROJECTS. AND SOME OF THOSE PROJECTS ARE, ARE ARE REALLY MAINTENANCE. WE DO A ROAD PROJECT AND SIDEWALK PROJECT EVERY YEAR. AND THEN WE, YOU KNOW, WE HAVE TO MAINTAIN OUR PARKS. SOME OF THEM ARE FUN PROJECTS AND SOME OF THEM ARE JUST MAINTAINING OUR BUILDINGS OR INFRASTRUCTURE. THE YELLOW LINE AT THE BOTTOM IS JUST THE LAST FEW YEARS, THE AMOUNT THAT WE'VE BEEN ABLE TO TRANSFER FROM OUR GENERAL FUND TO OUR CAPITAL IMPROVEMENT FUND, AND IT HAS DECREASED BACK TO, YOU KNOW, 2022 LEVELS, WE DON'T SEE ANY INDICATION OF THAT JUMPING IN THE NEXT YEAR. IT WILL EITHER LEVEL OR DECREASE. AND IF YOU LOOK AT THE NEXT SLIDE, IT'S JUST A SAMPLE OF SOME OF THE THINGS WE'VE TALKED ABOUT IN OUR TOTAL CIP PLANNING. AND THESE THESE PROJECTS WILL BE DETERMINED THE PRIORITY BY YOU AS COUNCIL MEMBERS AND THE MAYOR. I DON'T PRETEND TO KNOW WHICH ONES WE WILL BE ABLE TO DO AND NOT. BUT THESE ARE SOME OF THEM THAT WE ANTICIPATE WILL BE A LITTLE BIT MORE CHALLENGING FUNDING SOURCES OR TO GET FUNDING SOURCES TO COMPLETE. AND MY LAST SLIDE I WANTED TO POINT OUT, THIS IS JUST JUST A. I JUST WANTED TO HAVE A PICTURE IN THERE BECAUSE I DON'T HAVE ANY PICTURES ANYWHERE ELSE. BUT THIS SHOWS THAT IN 2021, WE HAD, WE SPENT $2.2 MILLION ON OUR ANNUAL STREET PROGRAM AND SIDEWALK PROGRAM. AND THIS YEAR IT'S $5 MILLION. SO IT'S MORE THAN DOUBLED. AND I DON'T BELIEVE CINDY CAN CORRECT ME THAT WE'RE DOING ANY MORE MILES OF STREETS OR SIDEWALKS. THIS IS JUST A PURE FUNCTION OF PRICE INCREASES. SO A BIG CHUNK OF[00:15:04]
WHAT'S LEFT FOR FOR CAPITAL PROJECTS IS TAKEN OUT BY MAINTENANCE. AND WHAT WE WHAT I DIDN'T TALK ABOUT IS INCOME TAXES. SO HOW DO WE GROW OUR INCOME TAX BASE? HOW STABLE IS THAT? HOW DO WE SEE THAT PLAYING OUT IN THE FUTURE YEARS? AND WE'RE LUCKY TO HAVE MR. RICHARD DONNELLY WITH US, WHO IS AN EXPERT IN THE FIELD OF INCOME TAXES. AND HE'S CONSIDERING RETIRING. I DON'T KNOW WHY, BUT SO I THOUGHT IT WOULD BE A GOOD IT'S GOING TO BE YOU'RE GOING TO ENJOY LISTENING TO HIM AND WE'LL TAKE QUESTIONS LATER. ALL RIGHT.HELLO, EVERYBODY. WE'RE GOING TO TALK ABOUT MY FAVORITE SUBJECT AND EVERYBODY ELSE'S MOST DREADED SUBJECT SO WE CAN DISCUSS. THANK YOU. ALL THE MICROPHONE DOWN. IS THAT BETTER? YEAH. OKAY. SO WE'RE GOING TO START WITH THIS GRAPH THAT SHOWS OUR REVENUE OVER THE LAST TEN YEARS OR SO. AND I WANT YOU TO LOOK AT IT. IT LOOKS PURPLE UP HERE, BUT THE PURPLE BAR OR THE DARK BLUE BAR ON THE HANDOUT THAT REPRESENTS OUR WITHHOLDING TAX REVENUE, WHICH IS THE BIGGEST SHARE OF OUR TAX REVENUE. THE WHITE IS MUNICIPAL NET PROFIT TAXES AND THE LIGHT BLUE ARE TAXES DIRECTLY PAID TO US BY INDIVIDUALS. AS MIKE ALLUDED TO, IF YOU LOOK AT THE CHART 23 2425 FLAT IS OUR NEW NORMAL. IT'S NOT GROWING. WHY DID WE SEE THAT GROWTH BEFORE? NOT SEE IT NOW. WE HAD MAJOR NEW EMPLOYERS COME ON BOARD WITH THE MEDICAL CORRIDOR THAT WENT OUT AND NORTH MEADOWS DRIVE. SO THAT SPARKED A LOT OF GOOD PAYING JOBS. AND SO WE SAW THAT GROWTH. YOU CAN SEE THAT OUR INDIVIDUAL TAXES ARE KIND OF EVEN. AND THE NET PROFIT TAXES, THEY GO UP AND DOWN. YOU MIGHT NOTICE THAT 22 AND 23 WE SAW A BIG GROWTH THERE. A LOT OF PEOPLE THOUGHT THAT WAS GOOD. I WAS VOMITING BLOOD OVER THAT. AND WE'RE GOING TO EXPLAIN THAT NOW YOU CAN GO TO THE NEXT SLIDE. OH. THAT ONE OKAY. SO UNLIKE WITHHOLDING TAXES, THE MONEY WE GET IN FOR WITHHOLDING TAXES IS THE MONEY THAT'S OWED. SO WE CAN SPEND IT. WE DON'T HAVE TO WORRY ABOUT IT. THE MONEY WE GET IN FROM INDIVIDUALS DIRECTLY FROM INDIVIDUALS, BY AND LARGE, IS EXACTLY WHAT'S OWED OR VERY CLOSE TO IT. WE HAVE SOME REFUNDS, BUT UNLIKE THE FEDERAL GOVERNMENT, WE DON'T DO A LOT OF REFUNDS AT THE MUNICIPAL LEVEL. NET PROFIT TAXES HAVE EXTREME VULNERABILITY VOLATILITY. THEY GO UP. THEY GO DOWN. UNLIKE THE OTHER TWO TYPES OF TAXES, THEY THEY'RE SUBJECT TO A VERY LARGE DISCONNECT BETWEEN WHAT'S OWED AND WHAT GETS PAID IN THOSE VOMITING BLOOD YEARS. I WAS TALKING ABOUT, WE HAD FIVE OF OUR LARGEST ACCOUNTS PAYING FIVE TIMES, SEVEN TIMES, TEN TIMES WHAT I PROJECTED THEY WOULD OWE. I WAS RIGHT, THEY OVERPAID US. WE HAD A RISK OF $6 MILLION IN REFUNDS GOING OUT IN A SINGLE YEAR. OKAY. SO WHEN I SAW THOSE BIG INCREASES, THAT WAS NOT GOOD NEWS. IT'D BE GOOD NEWS IF IT WAS OWED, BUT IT WASN'T OWED. WE DO MAKE CALLS WHEN THAT HAPPENS. WE DO REACH OUT TO THE TAXPAYER. WE LOOK AT THEIR SECURITY AND EXCHANGE COMMISSION FILINGS TO SEE WHETHER SOMETHING DRAMATIC HAPPENED. BUT IN THOSE CASES, IT WAS NOT. THEY JUST OVERPAID US DRAMATICALLY. NET PROFIT TAXES ARE ALSO SUBJECT TO THE WHIMS OF THE GENERAL ASSEMBLY AND CONGRESS. IF THEY WANT TO GIVE CORPORATIONS A BREAK, THEY CAN DO SO. AND THEY HAVE. IN THE PAST, WE USED TO NOT ALLOW NET OPERATING LOSS.
CARRYFORWARDS SO IF A COMPANY HAD ONE BAD YEAR THAT DIDN'T AFFECT OUR COLLECTIONS FOR MORE THAN THAT YEAR, NOW THEY CAN USE THOSE LOSSES FOR UP TO FIVE YEARS. SO ONE BAD YEAR CAN WIPE AWAY OUR TAX REVENUE FROM A COMPANY FOR FIVE YEARS. OKAY. NEXT SLIDE. THIS CHART SHOWS FOUR ACCOUNTS. TWO OF THEM I CONSIDERED TO BE FLAT NORMAL, BUT YOU CAN SEE HOW EVEN THE FLAT NORMAL ONES JUMP UP AND DOWN. TWO OF THE OTHER ACCOUNTS HAVE BIG LOSSES AND AND GAINS.
SO IT'S VERY HARD ON AN INDIVIDUAL LEVEL TO PROJECT WHAT A COMPANY WOULD OWE. WE DO HAVE HUNDREDS AND HUNDREDS AND HUNDREDS OF NET PROFIT ACCOUNTS. SO OVERALL, WE CAN GET A PRETTY
[00:20:06]
GOOD IDEA WHERE THEY'RE GOING TO STAY. BUT ON AN INDIVIDUAL BASIS, WE CANNOT AND WE ARE SUBJECT TO THAT VOLATILITY AND THAT DISCONNECT BETWEEN WAGES, BETWEEN WHAT THEY'RE PAYING AND WHAT THEY EVENTUALLY OWE. WE DID HAVE TO ISSUE $1 MILLION REFUND AT THE END OF 2020, FOR.I JUST ISSUED A QUARTER OF $1 MILLION REFUND THIS MONTH. SO. ALL RIGHT. TALKING A LITTLE ABOUT WITHHOLDING AND YOU KNOW, LIKE, CAN WE. GET MORE REVENUE BY JUST ADDING MORE JOBS, YOU KNOW, ATTRACTING MORE EMPLOYERS TO RAISE OUR WITHHOLDING REVENUE BY $1 MILLION? WE NEED 556, $90,000 A YEAR JOBS. THE AVERAGE WAGE IN CENTRAL OHIO RIGHT NOW IS $65,000. OKAY. WE WOULD NEED 769 NEW JOBS. TO GROW OUR WITHHOLDING $1 MILLION. IT TAKES 158 NEW JOBS TO PAY FOR ONE NEW POLICE OFFICER POSITION. ALL RIGHT, MOVING ON TO INDIVIDUALS. WHAT PEOPLE PAY US DIRECTLY AND ALSO WITHHOLDING TAXES IS A TAX ON INDIVIDUALS TOO. LET'S REMEMBER THAT. BUT THERE'S THINGS WE DON'T TAX DON'T TAX SOCIAL SECURITY. WE DON'T TAX WITHDRAWS FROM 401 S. WE DON'T TAX PAYMENTS MADE TO RETIREES FROM THEIR PENSION PLANS. WE DON'T TAX UNEMPLOYMENT. WE DON'T TAX INTEREST AND DIVIDENDS AND OTHER INTANGIBLE INVESTMENTS THAT SOME PEOPLE RELY ON, ESPECIALLY IN RETIREMENT. LET'S GET THE NEXT.
OKAY. THIS THIS MAP IS GOING TO BE IMPORTANT A NUMBER OF WAYS. IT SHOWS THAT IF WE RAISE OUR RATE TO 2.5%, WE ARE ABOUT IN LINE WITH THE VAST MAJORITY OF THE AREA. SO IT'S NOT LIKE WE'RE GOING TO BE STICKING OUT FOR HAVING A HIGH TAX RATE. WHAT'S IMPORTANT TO REALIZE IS THAT OUR RESIDENTS WHO ARE WORKING IN ANY OF THAT YELLOWISH GOLD AREA, THEIR EFFECTIVE TAX RATE WILL NOT CHANGE. IF WE RAISE OUR RATE TO 2.5%. OKAY. THEY ARE PAYING 2.5% TO COLUMBUS. WE'RE GIVING THEM FULL CREDIT. SO WHETHER OUR RATE IS 2% OR 2.5%, THEIR TAX LIABILITY IS NOT GOING TO CHANGE. TO. SO 46.2% OF OUR RESIDENTS ARE ALREADY PAYING 2.5% OR MORE, SO THEY WILL BE UNAFFECTED BY ANY INCREASE IN OUR TAX RATE TO 2.5%. ALSO, THEY WON'T CARE. I'VE BEEN DOING TAXES FOR 60 OR 30 YEARS, AND IF THEY'RE PAYING 2.5%, THEY DON'T CARE WHERE IT'S GOING. THEY JUST CARE WHAT THEIR OVERALL TAX EFFECTIVE TAX RATE IS. GO TO THE NEXT SLIDE. OKAY, SO WHO WILL PAY A TAX INCREASE IF WE INCREASE OUR TAX RATE TO 2.5%? SO IF WE TAKE OUR RESIDENTS, TAKE OUT THE PEOPLE THAT ARE ALREADY PAYING 2.5%, TAKE OUT OUR RESIDENTS WHO ARE LIVING ON SOCIAL SECURITY AND THEIR PENSION OR UNEMPLOYMENT OR, OR VOLUNTARILY NOT WORKING BECAUSE THEY'RE A STAY AT HOME PARENT OR SOMETHING LIKE THAT.
WE END UP WITH ABOUT 35.8% OF OUR RESIDENTS COULD EXPECT TO SEE, YOU KNOW, HAVE TO PAY MORE THAN THEY'RE PAYING NOW. HOWEVER, BY DOLLARS, NONRESIDENTS WILL PAY 73% OF THAT TAX INCREASE. AND I'LL USE MYSELF AS AN EXAMPLE. I'M A COLUMBUS RESIDENT. I WORK IN GROVE CITY. I PAY 2.5% NOW, 2% TO GROVE CITY, HALF A PERCENT TO COLUMBUS. I LIVE IN THE BIG YELLOW AREA. OKAY. EVERYBODY WHO LIVES IN THE BIG YELLOW AREA WHO WORKS IN GROVE CITY, THEY'RE NOT GOING TO SEE AN EFFECTIVE INCREASE IN THEIR TAXES EITHER. IT'S GOING TO BE
[00:25:03]
A REDISTRIBUTION. INSTEAD OF PAYING 2% TO GROVE CITY AND A HALF TO COLUMBUS, I'LL BE PAYING 2.5% TO GROVE CITY, AND I GET FULL CREDIT FROM COLUMBUS. IN THAT MAP, THE BIG YELLOW AREA, ONLY BEXLEY HAS A REDUCED CREDIT. SO EVERYBODY ELSE, THEY'RE NOT GOING TO SEE THEIR EFFECTIVE TAX RATE INCREASE EITHER. THEY'RE JUST GOING TO SHIFT THE TAX REVENUE FROM THEIR RESIDENTIAL CITY TO GROVE CITY. FOR OUR RESIDENTS WHO DO PAY AN INCREASE, WITH THE AVERAGE SALARY BEING 65,000, THAT WORKS OUT TO ABOUT $27 A MONTH. THEY'LL SEE THEIR TAXES INCREASE. YOU KNOW, AS MIKE SAID, WE DON'T MAKE THE DECISIONS ON HOW REVENUE IS SPENT. THAT'S UP TO YOU GUYS. BUT IT'S IMPORTANT TO UNDERSTAND THAT THE REVENUE GENERATED WILL BE USED FOR DIFFERENT THINGS. IT'S NOT ALL COMMUNITY CENTER. IT WILL BE GOING TO OPERATIONS, OTHER CAPITAL PROJECTS THAT THIS COUNCIL WISHES TO ENGAGE IN. SO IT'S NOT ALL FOR THE COMMUNITY CENTER. AND THEN ONE MORE SLIDE. THIS CHART SHOWS IT'S IT'S FOCUSES ON REAL ESTATE TAXES. WE HAVE ONE OF THE BEST REAL ESTATE TAX RATES, LOWEST BEING BEST HERE IN THE AREA. A CHANGE TO THE INCOME TAX WILL NOT CHANGE OUR PLACE ON THIS LIST.SO WE WILL REMAIN FRIENDLY TO PEOPLE ON FIXED INCOMES RETIREES. SO THAT'S JUST GENERALLY THE REASON WHY ALL THE SURROUNDING AREAS HAVE INCREASED THEIR INCOME TAX IS BECAUSE IT'S LESS REGRESSIVE. SO WE'LL STAY THERE. I THINK THAT'S IT. WAS THERE ANYBODY THAT SIGNED UP TO SPEAK OR. NO, THIS IS JUST US AND THEM. I WASN'T SURE. QUESTIONS FROM COUNCIL. GOT A FEW. YES. YOU MIGHT AS WELL BOTH COME UP. FIRST OF ALL, I WOULD. I MEAN, I'M HOPING THE ADMINISTRATION WILL GET YOUR TESTIMONY DOWN IN IN A NICE LITTLE VIDEO BECAUSE I. I GUARANTEE YOU 99.9% OF THE POPULATION DOESN'T KNOW THIS. SO I'M HOPING WE CAN DO THAT.
MAYBE IT'S CALLED AN EXPLANATION OF INCOME. FIRST OF ALL, WHAT IS THE COST OF ONE POLICE, POLICE PERSON WITH BENEFITS? THIS COMING YEAR WILL BE $207,000, $207,000. WOW.
THAT. YEAH, YEAH, THAT WIPES OUT QUITE A BIT. YEAH. IF WE JUST ADD THREE. OKAY. I MEAN, I KNOW THE I KNOW THE PROPERTY TAX ISSUE AT THE STATE LEVEL IS TOPSY TURVY. WE'VE GOT, YOU KNOW, PEOPLE SAYING THAT WE'RE GOING TO ABOLISH IT TO A CERTAIN LEVEL AND EVERYTHING.
HAVE YOU GUYS IN YOUR IN YOUR WORLDS YET HEARD ANYTHING ABOUT ANYTHING WITH THAT AS FAR AS WHAT MIGHT HAPPEN AS FAR AS PROPERTY TAX, YOU KNOW, WE HAVE ONE PERSON WANTING TO ABOLISH IT. WE HAVE ANOTHER. I MEAN, I DON'T KNOW WHAT'S GOING TO HAPPEN THERE. AND OF COURSE, THAT'S GOING TO FALL BACK ON US AS THE CITY TO FIGURE OUT HOW WE'RE GOING TO CONTINUE SERVICES. IF IF EVEN THAT SMALL AMOUNT CHANGES. WELL, OTHER THAN TEN MILS, EVERY EVERY, EVERY PROPERTY TAX LEVY HAS BEEN PASSED BY BY THE RESIDENTS OF THE CITIZENS. YOU CAN ONLY ONLY TEN MILS CAN BE LEVIED WITHOUT A VOTE. SO. I'M NOT SURE HOW THAT WORKS, BUT IF IT IF IT WOULD HAPPEN, IF PROPERTY TAXES WOULD BE ABOLISHED. WHAT I'VE HEARD FROM A RESPECTED ATTORNEY OF MINE THAT THERE WOULD BE MANY LAWSUITS FILED IMMEDIATELY. AND THE REASON FOR THAT IS PEOPLE LIKE THE CITY OF GROVE CITY HAVE WENT OUT AND ON THE EXPECTATION AND PROMISE OF THOSE REAL ESTATE TAXES, WE'VE LENT MONEY TO PEOPLE. SO THERE ARE MAJOR CORPORATIONS, INDIVIDUALS, INSURANCE COMPANIES, PENSION, PENSION PLANS THAT HAVE INVESTMENTS IN MUNICIPALITIES JUST LIKE US. AND WE HAVE PROMISED TO PAY THEM THOSE PROCEEDS. AND WITHOUT THAT, IT DOESN'T AFFECT JUST THE CITIES, IT AFFECTS THE THE WHOLE WORLD. SO THAT'S WHAT LIKE I SAID, ONE OF MY RESPECTED ATTORNEY FRIENDS TOLD ME WHAT HAPPENED. GO AHEAD.
I'VE GOT OTHER FOLLOW UP QUESTIONS, BUT I WANT TO WAIT HERE. OTHERS? PROPERTY TAXES.
[00:30:06]
THREE YEARS AGO. I GUESS THE MAIN QUESTION I KNOW THAT THIS WHOLE SUBJECT CAME UP FROM THE FINANCE COMMITTEE WHEN WE WERE LOOKING AND STUDYING A COMMUNITY CENTER, BUT WE'RE BEYOND THAT FROM WHAT I'M HEARING. AND I KNOW THAT, MIKE, YOU HAD SAID, YOU KNOW, THE INCOME TAX HAS BEEN FLAT. SO JUST TO CLARIFY THAT. YEP. I'VE BEEN, YOU KNOW, CAUTIONING THIS FOR A WHILE NOW, A NUMBER OF YEARS. AND, YOU KNOW, WE'RE NOT BEING CHICKEN LITTLE. WE'RE, WE'RE THIS, THESE ARE REAL FACTS. WE'RE NOT GOING TO GO BROKE EITHER. LIKE I MENTIONED, WE WOULD MAKE ADJUSTMENTS GRADUALLY AND WE FEEL LIKE WE ARE KIND OF OUT IN FRONT OF THIS RIGHT NOW. BUT, YOU KNOW, TWO, THREE, FOUR YEARS FROM NOW, WE MIGHT NOT BE OUT IN FRONT OF IT. AND WE'LL PROBABLY WE WOULD SEE THE CONSEQUENCES OF NOT DOING SOMETHING RIGHT. SO WHETHER OR NOT BUILD A COMMUNITY CENTER, MOVE FORWARD WITH THE COMMUNITY CENTER, WE PROBABLY WE BELIEVE WE BELIEVE THAT WITH OR WITHOUT THE COMMUNITY CENTER, AN INCOME TAX INCREASE IS AN APPROPRIATE CONVERSATION. OKAY? OTHERWISE WE'RE GOING TO START AFFECTING CAPITAL IMPROVEMENT PROJECTS THROUGHOUT OUR COMMUNITY SAFETY. THAT'S WHAT THAT'S WHAT WE BELIEVE. YES. THANK YOU. I THINK I THINK IF SINCE WE'RE INFORMAL UP HERE TONIGHT, I THINK, JODY, THE ONE THING THAT I HEARD VERY CLEARLY, THOUGH, IS ONCE WE GET THIS CLASS THROUGH THIS, THIS, THE CURRENT CLASS OF, OF POLICE OFFICERS AND EVERYTHING WE'RE LOOKING AT, IF WE NEED, IF WE WANT TO ADD, LIKE WE HAVE BEEN AT LEAST ONE PER PER BUDGET CYCLE TO EVEN TO, TO CATCH UP. WE'RE TALKING, YOU KNOW, I MEAN, THAT'S A MILLION BUCKS FOR, FOR, YOU KNOW, SO THAT THAT WIPES OUT ANYTHING WE HAVE, YOU KNOW, SO IT'S. I COULD. MR. SIR. YES. OF COURSE, A COUPLE OTHER FACTORS THAT WAS NOT OVERLY HIGHLIGHTED. THE LAST TIME WE INCREASED THE INCOME TAX, I THINK WAS MID 80S. THE LAST TIME WE INCREASED PROPERTY TAX WAS, I BELIEVE, LIKE 94, 93, 94. SO WE'VE BEEN VERY, VERY FORTUNATE. I MEAN, PEOPLE COMPLAIN ABOUT THE GROWTH AND AND SOME OF THE THINGS THAT ARE GOING ON. WHAT THAT HAS DONE IS BUFFERED. WHAT NOW IS BECOMING REALITY, THAT WE'RE PROBABLY GOING TO HAVE TO DO SOMETHING ON THE REVENUE SIDE. THE OTHER PIECE OF IT IS THE OHIO GENERAL ASSEMBLY STARTS CONSTANTLY TAKE SHOTS AT US. I MEAN, MIKE JUST SUBTLY MENTIONED THE INHERITANCE TAX. THAT WAS AT ONE TIME $700,000 A YEAR THAT JUST THE NEXT DAY, AFTER THE END OF THE YEAR WENT OUT THE WINDOW, THE LOCAL GOVERNMENT FUND WAS PUT IN PLACE. CORRECT ME IF I'M WRONG, MIKE, TO OFFSET THE LOSS OF THE PERSONAL PROPERTY TAX. THAT WAS PART OF OUR STATE'S TAX CONFIGURATION, AND THAT IS GOING TO BE ALREADY GONE DOWN. IF YOU IF YOU EQUATED IT TO WHAT THE REAL DOLLARS WOULD BE, I SUSPECT IT'S PROBABLY ABOUT A HALF $1 MILLION. THE OTHER ONE IS THEY CONSTANTLY COME BACK TO US AND SAY, IF YOU DON'T DO THIS, WE'RE GOING TO TAKE WE'RE GOING TO REDUCE YOUR LOCAL GOVERNMENT FUND, RED LIGHT CAMERAS, FOR INSTANCE. SO WE ARE AT THE INCREDIBLE MERCY OF THE OHIO LEGISLATURE. THE LAST ONE IS THAT WE DIDN'T MENTION THEY HAVE A BILL BEFORE THEM RIGHT NOW, THE LEGISLATURE ON POLICE PENSION TODAY, WE'RE PAYING WHAT, 19.5, 18, 18, 19, 19. THAT'S GOING TO GO TO WE THINK IT'S GOING TO GO TO 24.5% OF THEIR GROSS SALARY. SO THAT HIT IS HOW MUCH. MIKE. WE ESTIMATE THAT TO BE WHEN IT'S FULLY IMPLEMENTED. AN ADDITIONAL $500,000 A YEAR. SO AS MUCH AS WE THINK WE CAN CONTROL OUR OWN DESTINY, WE HAVE THESE OTHER FACTORS THAT ARE YOU REALLY HAVE A VERY, VERY TOUGH TIME AND AND MOVING THE SHIP OR TURNING THE SHIP IN THE HARBOR BECAUSE THEY'LL DO IT. SORRY. YEAH. MIKE, THIS IS ALL ONE PRESENTATION. CAN SHE SCROLL BACK TO THE ONE THAT SHOWS THE POLICE PENSION FUND? I JUST THINK IT'S WORTH NOTING. IT'S GOING TO KEEP GOING. I THINK IT'S ALL THE WAY AT THE BEGINNING. SLIDE FOUR. YEAH. FIVE FOUR. IT'S CLEAR AT THE BEGINNING. JUST. YEAH. RIGHT[00:35:06]
THERE. THERE YOU GO. THERE. NOW THAT'S NOT THE ONE I'M LOOKING FOR. THAT'S THE YES, THE BALANCE REPORT THE EXPENSE FOR THE POLICE FUND. IT'S IN THAT ONE. THERE IT IS RIGHT THERE.YEAH. YEAH. I JUST NOTICED THE DIFFERENCE IN 24, 25, 26 SEE HOW IT WENT TO 18 MILLION. AND YOU'RE JUST NOW TALKING ABOUT IT GOING UP EVEN MORE. I MEAN, THERE'S A COUPLE 3 MILLION RIGHT THERE. YEAH. YOU CAN SEE THE DIFFERENCE IN WHAT WE'VE INCURRED IN BUDGETED. WE'VE HAD THIS DISCUSSION MANY TIMES. I DON'T THINK WE'VE BEEN AT FULL POLICE FORCE FOR FOR MANY YEARS.
WE'RE GETTING THERE. SO THE BUDGET WE'RE GETTING CLOSE. FULL FORCE FOR AN ENTIRE YEAR.
WE HAVE WE'RE HAVING DIFFICULTIES DOING THAT. BUT IT IS THE INCREASE IS YEAH, I JUST I JUST WANTED TO CALL OUT THAT POLICE. YOU KNOW, YOU'VE MENTIONED BEFORE THAT IT'S THE LARGEST SINGLE EXPENSE WE HAVE IN THE GENERAL FUND. AND THAT POLICE PENSION FUND IS A WILD CARD BECAUSE IT CHANGES YEAR AFTER YEAR. AND IT HAS SIGNIFICANT, YOU KNOW, COUPLE $3 MILLION HIT WHEN IT GOES UP. THE NEXT ONE WAS MONEY WE SPENT IN CAPITAL IMPROVEMENTS. IT'S A COUPLE SLIDES PROBABLY FROM HERE. YEAH. THAT ONE OR THIS ONE. YEAH THIS ONE. I JUST THINK IT'S INTERESTING THAT AND WE COULD PROBABLY TALK ABOUT A FEW OF THOSE THINGS THAT WE'VE DONE IN CAPITAL IMPROVEMENTS IN THE LAST TWO YEARS AND HOW EVERYBODY HAS ENJOYED THOSE AND HOW IMPORTANT THEY ARE TO WHAT WE'VE DONE. AND, YOU KNOW, IT'S BEEN A LOT OF WORK ON COUNCIL TO TRY TO REINVEST THAT MONEY INTO COMMUNITY CAPITAL IMPROVEMENT PROJECTS, PARKS. WE COULD RATTLE OFF ALL KINDS OF INTERESTING STUFF THAT WE'VE DONE. THE STAGE DOWNTOWN.
LOMBARD STREET, COLUMBUS STREET REDONE, HOLTON ROAD REDONE, YOU KNOW, ALL THOSE QUALIFY AS CAPITAL IMPROVEMENTS. AND, YOU KNOW, WE'RE UNABLE TO DO THOSE KINDS OF THINGS NOW. AND YOU CAN SEE THAT LINE FALLING OFF. NOW GO TO THE NEXT SLIDE. AND IN OUR BACK POCKET UP HERE IN COUNCIL WE HAVE LOTS OF DEMANDS FROM RESIDENTS THAT THEY WANT TO SEE BROADWAY LIVE DOWN HERE WITH LOTS OF ENTERTAINMENT AND RESTAURANTS THAT BEULAH PARK AMPHITHEATER, FRIAR PARK IMPROVEMENTS, THE TRAIL FOR THE BIKE PATH THAT CONNECTS MANY PLACES. WE HAVEN'T REALLY MENTIONED IT, BUT THE TOWN CENTER BYPASS MUCH. YOU'VE GOT THE BRIDGE OVER THE FREEWAY TO OPEN UP THE SEVERAL HUNDRED ACRES OVER THERE TO ALLOW US TO BUILD MEDICAL TECH PARK CENTER THAT WOULD PROVIDE THE HIGH PAYING JOBS. BUT THAT'S OUT IN THE FUTURE. BUT WE GOT TO SPEND THE MONEY NOW AND SOONER TILL WE REAP THOSE BENEFITS OF LATER. WITH THE JOB ADDITIONS. AND SO, YOU KNOW, THERE'S, THERE'S LOTS OF LOTS OF DEMANDS FOR THAT CAPITAL IMPROVEMENT BUDGET THAT HAS BEEN SHRINKING SIGNIFICANTLY OVER THE YEARS. I JUST WANTED TO JUST DRIVE THAT POINT HOME A LITTLE BIT. AND THEN RICHARD'S LAST SLIDE. WHERE IT SHOWS GROVE CITY AS NUMBER 3 OR 4. I JUST WANT THE PUBLIC AND ANYBODY ELSE THAT LISTENS TO THIS TO SEE, BECAUSE AS A COUNCIL MEMBER, I GET THIS ALL THE TIME, ALL THE TIME. WHY ARE MY TAXES SO HIGH IN GROVE CITY? AND THEN WHEN YOU LOOK AT THIS CHART, THIS COMPARES A $350,000 HOME IN ALL THESE CITIES ACROSS THEIR WHAT? YOU KNOW, WHAT YOU ACTUALLY PAY IN TAX FOR A YEAR FOR A $350,000 HOME. AND THE ONLY PEOPLE THAT ARE LESS EXPENSIVE THAN GROVE CITY ARE URBAN CREST, WHITEHALL AND COLUMBUS. NOW, TAKE THE REVERSE OF THAT AND YOU'VE GOT WESTERVILLE, GRANDVIEW, DUBLIN.
[00:40:04]
BEXLEY. THEY ALL PAY WAY MORE AND GENERALLY, GROVE CITY RESIDENTS EXPECT THE SAME LEVEL OF AMENITIES AND PARKS AND COMMUNITY CENTERS. IF I COULD SAY THAT. AND AND COMMUNITY SPACES. AND WE ARE THE ONE OF THE LEAST EXPENSIVE THAT HAS ALL THOSE THINGS. AND WE HAVE A LOT OF THINGS WE WANT TO DO TO MAINTAIN THAT POSITION AMONGST THOSE OTHER CITIES SO THAT WE CAN HAVE ALL THOSE THINGS. AND IT MIGHT TAKE THIS HALF PERCENT INCOME TAX TO DO THAT. BUT AS YOU HEARD RICHARD SAY, WE'LL STILL BE NUMBER FOUR ON THE GRAPH. SO YOU SHOULD FEEL COMFORTABLE IF A FRIEND OR A NEIGHBOR SAYS, MAN, I PAY A LOT OF TAXES IN GROVE CITY. AND YOU KNOW, MAYBE ON A DOLLAR WISE, THEY PERCEIVE THAT AS A LOT. BUT COMPARATIVELY TO ALL THE OTHER CITIES IN COLUMBUS THAT THEY WOULD LIVE IN, THEY DON'T. AND ONE MORE. AND I DON'T THINK YOU COVERED IT IS. HOW MUCH DOES THE HALF PERCENT GENERATE? WE ESTIMATE $11 MILLION, $11 MILLION A YEAR. SO THAT'S CERTAINLY GIVES US SOME RELIEF IN THE CAPITAL BUDGET TO DO SOME OF THESE PROJECTS THAT WE'RE TALKING ABOUT HERE. AND THEN I WOULD JUST LIKE YOU TO ATTEST TO THIS STATEMENT IN YOUR PROFESSION. THIS IS TO MIKE, IN YOUR PROFESSIONAL CAPACITY AND LOOKING AT THE NUMBERS, YOU WOULD RECOMMEND THE HALF PERCENT INCREASE WITH OR WITHOUT A COMMUNITY CENTER. I WOULD SAY TO OFFER THE SAME LEVELS OF SERVICE THAT WE CURRENTLY OFFER. THAT IS AS TRUE, TRUE STATEMENT. OKAY. CHAIR, I HAVE A COUPLE THINGS.THANK YOU. THANK YOU BOTH FOR BEING HERE AND PROVIDING SO MUCH INFORMATION. I THINK IF YOU COULD GO TO SLIDE 16, PLEASE, I THIS IS DEFINITELY SOMETHING THAT'S VERY TELLING TALKING ABOUT TO, YOU KNOW, RAISE WITHHOLDING COLLECTIONS BY $1 MILLION. AND YOU DID CLARIFY. THANK YOU AGAIN FOR THE STATEMENT THAT THE HALF PERCENT WOULD GENERATE 11 MILLION A YEAR. SO COMPARING THAT TO EVEN WHAT YOU HAVE IDENTIFIED HERE, BREAKING IT DOWN, EVEN JUST TO GET $1 MILLION, WE WOULD BE NEEDING SOMEWHERE BETWEEN 500 AND 50 6 TO 769 PLUS PLUS JOBS. WE KNOW THAT THERE IS AN APPETITE TO BRING IN EMPLOYERS. I THINK WE HAVE TO TRULY LOOK AT DO WE HAVE EMPLOYERS POTENTIALLY LINED UP IN THE NEXT ONE, TWO, THREE, FOUR, FIVE YEARS VERSUS WHAT WE ARE LOOKING TO DO TO GET TO OPEN UP THE GATEWAY AND BRING EMPLOYERS THERE? AND HOW MANY WOULD WE, YOU KNOW, BE ABLE TO START BRINGING IN AT THAT POINT TO EVEN START GENERATING A THOUSAND NEW JOBS TO GET $1 MILLION, LET ALONE THE 10,000 NEW JOBS, WE WOULD POTENTIALLY NEED TO HAVE THE SAME KIND OF NUMBER WE'D GET WITH THE PERCENT INCREASE. SO I THINK THAT WAS A REALLY, YOU KNOW, TELLING PIECE OF INFORMATION ON SLIDE 16 TO REALLY LOOK AT THE NUMBER OF JOBS AND WHAT THAT KIND OF EQUATES TO. AND THEN THE OTHER PIECE, I JUST WANTED TO GO AT TWO MORE SLIDES, PLEASE. SO SLIDE 20. TALKING ABOUT WHO WILL PAY THIS INCREASE. I THINK THIS IS ALSO REALLY INFORMATIVE FOR OUR RESIDENTS, KNOWING THAT IT'S ABOUT ONE THIRD OF THE POPULATION AND WHO IT TRULY IMPACTS WHERE YOU WORK, WHERE YOU LIVE. SO I APPRECIATE YOU KIND OF BREAKING THAT ALL DOWN.
AND I THINK THEN EVEN BY THE DOLLARS, TALKING ABOUT THE NON RESIDENTS WAS A REALLY IMPORTANT PIECE. SO THANK YOU. TALKING ABOUT THOSE WHO LIVE OUTSIDE OF GROVE CITY. YOU FOR EXAMPLE, LIVING IN COLUMBUS BUT WORKING HERE. SO THAT WOULD ALSO START TO FUND ADDITIONAL INCOME TAX THAT IT DOESN'T JUST IMPACT OUR GROVE CITY RESIDENTS COMING OUT OF THEIR POCKETS. SO I REALLY APPRECIATE THAT. AND THEN I THINK THE LAST THING RIGHT NOW I HAVE SLIDE 2021.
THE NEXT ONE RIGHT AFTER THIS. AGAIN, THIS WAS REALLY TELLING, RIGHT? BECAUSE WE KNOW THAT THIS CONVERSATION KIND OF STARTED ON THE HEELS OF A COMMUNITY CENTER. AND I THINK WHAT EVEN MR. HOLT JUST SAID, WITH OR WITHOUT A COMMUNITY CENTER, LOOK AT WHAT WE HAVE GOING INTO OPERATIONS AND CAPITAL PROJECTS. AND I THINK EVEN THE POLICE LINE WE'VE TALKED ABOUT ALONE COULD BE DIGGING INTO SO MUCH OF THAT OPERATIONS AS THE YEARS
[00:45:02]
INCREASE AND CAPITAL PROJECTS, AGAIN, ALL THE THINGS THAT WISH LIST THAT WE'VE KIND OF TALKED ABOUT THAT RESIDENTS HAVE CERTAINLY, YOU KNOW, ASKED FOR. AND I THINK A LOT OF OUR COMMUNITY LOOKS FOR IN TERMS OF AMENITIES AND AMENITIES ASIDE, EVEN SOME OF THE PROJECTS WE'VE TALKED ABOUT, CAPITAL PROJECTS, THE ROAD IMPROVEMENTS, COLUMBUS STREET AND THE SEWER IMPROVEMENT TO HELP PEOPLE'S HOMES IN THOSE AREAS WHO HAD BEEN FLOODED, THOSE ARE REALLY IMPORTANT AND REALLY BIG DEALS, AND WE NEED TO SPEND THE MONEY. AND THEN THAT'S NOT EVEN AN AMENITY THAT PEOPLE GO AND VISIT, YOU KNOW, FOR ENTERTAINMENT. BUT IT IS TRULY AN IMPORTANT PIECE FOR OUR COMMUNITY. SO YEAH, JUST SOME THINGS I WANTED TO KIND OF TALK THROUGH, BUT I THINK THIS SLIDE WAS REALLY TELLING. SO THANK YOU. THANK YOU SO MUCH FOR BEING HERE FOR PUTTING TOGETHER THIS PRESENTATION. I JUST WANTED TO, FOR ONE, UNDERSTAND WHAT IS THE PROJECTED TIMELINE? WHEN ARE WE EXPECTING? IS THAT SOMETHING THAT WE WOULD DECIDE AS A COUNCIL? WHAT IS EVERYONE'S IDEA ON WHEN THIS WOULD BE PUT OUT FOR VOTERS? ARE WE TALKING ABOUT THIS NOVEMBER? NO, NO. I'D SAY PROBABLY THE PRIMARY NEXT YEAR WOULD BE THE EARLIEST. CAN I CAN I ASK A QUESTION ON TOP OF THAT? RIGHT. THANK YOU VERY MUCH FOR ASKING THAT QUESTION. BEFORE WE FOR SURE SAY IT'S, YOU KNOW, TOO LATE FOR THIS YEAR. CAN YOU HELP US UNDERSTAND IF IT'S THIS BALLOT, IF IT'S A MAY BALLOT, IF IT'S A NOVEMBER BALLOT OF 27, WHEN DOES THAT WHEN DO THE DOLLARS START COMING IN? AND MAYBE THAT CAN HELP US. WHEN DOES THE WHEN IS IT EFFECTIVE? THANK YOU. THAT THAT WOULD DEPEND ON THE LEVY LANGUAGE. BUT I'M GOING TO LET RICHARD EXPAND ON THAT NEXT CALENDAR YEAR. PROBABLY. SO MY PERSONAL OPINION IS IT'S BETTER TO START IT ON A JANUARY 1ST IF POSSIBLE. THAT JUST MAKES IT EASIER. WE DON'T HAVE A BLENDED TAX RATE. YOU'RE NOT TAXED AT ONE RATE FOR SIX MONTHS OF THE YEAR OR EIGHT AND A HALF MONTHS OF THE YEAR OR WHATEVER. SO I PREFER THINGS ON THE FIRST OF THE YEAR. JUST MAKES IT EASIER ON THE TAXPAYERS. BUT THAT SAID, A NUMBER OF CITIES HAVE OVER THE LAST, YOU KNOW, THREE DECADES HAVE HAD START DATES AS STRANGE AS LIKE JULY 15TH OR OCTOBER 3RD, YOU KNOW, AS SOON AS POSSIBLE. AND I THINK THEY WERE THOSE CITIES THAT HAVE IT AS SOON AS POSSIBLE ARE GENERALLY IN SOME SORT OF FINANCIAL DISTRESS AND NEEDED TO START RIGHT AWAY. BUT YOU CAN START IT ON A QUARTER THAT'S FRIENDLY FOR BUSINESSES.THEY KNOW WHEN TO SWITCH THEIR WITHHOLDING. SO IT'S IDEALLY FOR ME FIRST OF THE YEAR. OTHER THAN THAT, ON ANY QUARTER IS JUST MORE FRIENDLY FOR THE BUSINESSES THAT ARE DOING THE WITHHOLDING. AND LET'S SAY THIS WAS WE STARTED WORKING ON THIS UP UNTIL JANUARY OF 2027 WITH THE CURRENT LIBRARY LEVY AND THE POSSIBLE BOND FROM THE SCHOOL DISTRICT. DO YOU ALL THINK THAT THAT MIGHT OVERWHELM VOTERS WITH THE BACK TO BACK INCREASES? WELL, THE LIBRARY LEVY WILL BE VOTED ON IN THE PRIMARY. I MEAN, SO THAT WOULDN'T AFFECT THAT. AS FAR AS THE SCHOOLS, I DON'T KNOW. ARE THEY PUTTING SOMETHING UP? WELL, IF I COULD, MR. DURHAM, THE SCHOOLS WE HAVE NOT TALKED TO THEM ABOUT A LEVY, A BOND. IT'LL BE A BOND ISSUE I'M SURE, FOR THE, FOR THE NEW SCHOOLS. BUT THE, THE ONES THAT ARE MOST PRESSING WOULD BE US AND THE LIBRARY. THE LIBRARY AGAIN IS GOING TO BE IN MAY GOING OUT INTO NOVEMBER, THE NOVEMBER ELECTION, WHICH I WOULD SAY WOULD BE THE MOST IDEAL RIGHT NOW. I KNOW NO COMPETING ISSUES.
AND BY THE WAY, ONE OF THE THINGS YOU MENTIONED, THE FINANCE COMMITTEE OF THE COMMUNITY CENTER, WHAT WE DIDN'T MENTION WAS THE FINANCIAL REVIEW COMMITTEE OF 20 1819. EIGHT YEARS AGO, MADE THE RECOMMENDATION TO GO TO A HALF PERCENT INCREASE AT THAT TIME. SO IS IT IS IT TOO LATE TO SOMEBODY THAT KNOWS THE DATES? IS IT TOO LATE TO GET IT IN NOVEMBER? I'M JUST CURIOUS. AUGUST 1ST IS YOUR DATE. YEAH, I'M LOOKING AT THE CALENDAR RIGHT NOW. YOU'D HAVE TO. YOU'D HAVE TO PASS SOMETHING BY JULY TO GET TO THE NOVEMBER BALLOT.
END OF JULY. LAST MEETING IN JULY. SO IT'S NOT TOO LATE. IF WE DECIDE EARLIER. YEAH, A COUPLE OF THINGS. I DID SOME QUICK NUMBERS HERE, AND JUST BASED ON OUR TOTAL REVENUE HERE,
[00:50:04]
IT WOULD BE A 20% INCREASE IN REVENUE, WHICH EQUATES TO 11 520. BUT WITH THE NON COMMUNITY CENTER PROJECTS, WE'RE ALREADY AT 9 MILLION. AND I THINK WE'RE GOING TO HAVE INCREASES FROM THE POLICE DEPARTMENT ETC. SO I THINK IT'S IT'S IMPERATIVE THAT WE DO THIS. THE QUESTION OF WHETHER TO PUT IT ON THE NOVEMBER BALLOT OR NEXT YEAR'S BALLOT NEXT YEAR WOULD BE TO GET THIS INFORMATION OUT TO THE TO OUR CONSTITUENTS, BECAUSE I THINK THAT THERE'S BEEN A LOT OF LINKAGE BETWEEN THE TAX INCREASE AND THE COMMUNITY CENTER VERSUS THE TAX INCREASE, HELPING FUND OPERATIONS IN CAPITAL PROJECTS AND OTHER THINGS THAT COME UP. AND SO IT'S SORT OF IN A CATCH 22, IF IF WE DO IT THIS NOVEMBER, I THINK OUR CHANCES OF HAVING THAT FAIL ARE FAR GREATER THAN IF WE HAVE MORE TIME TO EDUCATE THE PEOPLE ON WHERE WE ARE IN RELATIONSHIP TO OTHER COMMUNITIES AND WHERE THIS WHERE THESE FUNDS NEED TO GO.BECAUSE WHEN I LOOK AT THE GENERAL FUND REVENUE, THERE ARE A NUMBER OF CATEGORIES HERE THAT MAY COME DOWN. INTEREST MAY COME DOWN SOMEWHAT, AND SOME OF THE OTHER CATEGORIES.
SO WE HAVE TO OFFSET THOSE DROPS WITH FUNDING SOMEWHERE. AND YOU KNOW, I'M A FISCAL CONSERVATIVE, BUT I LOOK AT THIS AND SAY, OKAY, WE REALLY DO NEED THIS HALF A PERCENT JUST TO STAY THE COURSE WITH PROJECTS THAT WE LOOK TO DO BOTH CAPITAL PROJECTS AND OPERATIONS. AND THERE'S INFLATION AS I LOOK AT AS A NEW COUNCIL MEMBER, I LOOK AT OUR GENERAL REVENUE AND OUR GENERAL EXPENSES. AND I THINK THE PRIOR BOARD HAS DONE A GREAT JOB CONTROLLING THOSE EXPENSES. SO IT'S PROBABLY THE EXPENSE INCREASE IS LESS THAN OUR INFLATION RATE, NATIONAL INFLATION RATE. BUT AGAIN, IT'S AN EDUCATIONAL THING. AS FAR AS WHERE DOES THE WHERE DOES THE MONEY COME FROM ASIDE FROM THE COMMUNITY CENTER? I THINK THAT'S A REAL IMPORTANT I THINK THAT'S A REAL IMPORTANT ISSUE HERE. SO I APPRECIATE THE THE INFORMATION. IT'S VERY GOOD, VERY HELPFUL. YES. I JUST WANTED TO CONFIRM, BASED ON THE OHIO ELECTION CALENDAR, TO BE ON THE NOVEMBER BALLOT, IT WOULD BE IN AUGUST 5TH DEADLINE.
OTHER. IT'S JUST CURIOUS, DOES IT HAVE TO BE A HALF PERCENT INCREASE OR CAN IT BE A QUARTER PERCENT INCREASE? IT COULD BE ANYTHING YOU'D LIKE. WELL, I WAS JUST WONDERING WHETHER IT WAS THE TWO COMMITTEES, AS THE MAYOR SAID, RECOMMENDED A HALF PERCENT INCREASE. THAT'S WHAT OTHER COMMUNITIES ARE. IT SEEMS REASONABLE. WHAT THAT WE HAVEN'T REALLY LOOKED INTO DIFFERENT RATES? WELL, 22.75 WITHIN GENERATE 5.5 MILLION. YOU MEAN YOU MEAN 2.25 OR 2.25 WOULD GENERATE. YEAH, 1.5 MILLION BRING UP AN INTERESTING POINT TOO, THOUGH. I MEAN, I WOULD THINK THAT AS COUNCIL AND IF THIS IS WHAT WE WOULD VOTE ON, RIGHT. YOU COULD PUT IT INTO THE LANGUAGE FOR THE BALLOT AND YOU COULD YOU COULD EXTEND IT OVER YEARS, RIGHT? YOU COULD SAY HALF PERCENT INCREASE. ASAP OR, YOU KNOW, AS OF JANUARY OF JUST, JUST, JUST FOR THIS EXAMPLE PURPOSES, LET'S SAY THAT WE PUT IT ON THIS NOVEMBER BALLOT AND HAD THE INCREASE START JANUARY OF 26. YOU COULD DO THE, THE QUARTER PERCENT FOR X NUMBER OF YEARS, THREE YEARS, AND THEN THREE YEARS DOWN THE LINE. IT WOULD THEN GO TO THE 2.5% AS AN IDEA, $13 THOUGH WHEN THAT PEOPLE ARE PAYING PER MONTH. YEAH. I MEAN, I'D BE I'D BE A PROPONENT OF THE HALF PERCENT, THE FULL HALF. I WAS JUST WONDERING IF IT HAD TO BE ROUND NUMBERS. BUT SINCE YOU BROUGHT THAT UP, THERE'S LOTS OF WAYS TO TRY AND EASE INTO IT FOR THE COMMUNITY, KNOWING THAT WE PROBABLY DO NEED TO GO DOWN THIS THIS PATH. SO YEAH, AND MANY TIMES, YOU KNOW, IT'S ONLY THAT THAT AMOUNT, BUT IT'S THE PERCEPTION THAT I THINK MOST OF THEM WOULD DEAL WITH THAT WE DEAL WITH ALL THE TIME RATHER THAN THE, THE NUMBERS. YEAH.
[00:55:05]
ACTUALLY SPEAKING OF PERCEPTION, BECAUSE I KNOW WE'RE RUNNING SHORT ON TIME HERE. I'M SORRY.DID YOU HAVE SOMETHING? GO AHEAD. OKAY, SO THE PERCENTAGES. YEAH, ACTUALLY THAT SLIDE RIGHT THERE. SO DOES THAT TAKE THIS DOESN'T TAKE INTO ACCOUNT THIS IS BY POPULATION TOTAL POPULATION. THIS IS NOT BY TAXPAYER. RIGHT. BECAUSE I BELIEVE THE NUMBERS, SOME OF THE NUMBERS I THINK YOU SENT ME WERE 51% OF THE POPULATION ACTUALLY PAYS TAXES. SO THE PERCENTAGE THAT WOULD ACTUALLY BE PAYING THIS OF TAXPAYERS WOULD ACTUALLY BE MORE LIKE 60% OF TAXPAYERS, PEOPLE THAT ARE CURRENTLY PAYING TAXES, 60% WOULD SEE AN INCREASE.
APPROXIMATELY KNOW IF IT'S ABOUT IF IT'S HALF AND HALF. NOW, THE POPULATION AMOUNT HERE DOES NOT INCLUDE INFANTS AND CHILDREN. I DIDN'T THINK THAT ANYBODY WOULD NATURALLY PLOW THEM INTO THE NUMBERS. WHEN WE'RE LOOKING AT 100% OF THE RESIDENTS, THOSE ARE 100% OF THE RESIDENTS OF TAX PAYING AGE. SO 18 AND OVER, BUT NOT PAYING TAXES IF THEY'RE WORKING THAT THAT'S OUR TOTAL POOL RIGHT NOW. SOME OF THOSE PEOPLE ARE RETIRED AND RECEIVING ANY SOCIAL SECURITY AND THEY'RE IN THAT 18% NUMBER. SO SOME PEOPLE ARE ALREADY PAYING 2.5% IN THAT YELLOW AREA. THEY'RE NOT GOING TO SEE AN INCREASE. RIGHT. SO THIS IS THE AFFECTED LET'S USE THE TERM THIS IS THE AFFECTED POPULATION IS 35.8. WELL OF THE OF THE OVERALL POPULATION. I JUST YOU KNOW, AGAIN FROM THE WORKING POPULATION OF PERCENT. WELL, IS IT THE WORKING POPULATION OR IS IT TOTAL POPULATION OF OF, OF TAX PAYING, AGE OF TAX PAYING, AGE OF TAX, PAYING A TAX, BUT OF TOP OF TAX PAYING AGE. I BELIEVE THE SUM OF THE, ON THE, AT THE BOTTOM OF THE, THE SPREADSHEETS THAT YOU SENT, I BELIEVE IT BROKE IT OUT THAT 50, 51 POINT SOMETHING PERCENT WERE PAYING TAXES, 49% WERE NOT PAYING TAXES OF THE OVERALL POPULATION OF TAX PAYING AGE. YOU KNOW, I DON'T HAVE THAT REPORT IN FRONT OF ME. SO I WOULD WANT TO LOOK AT THAT AND SEE. BUT I WE USE THE SAME REPORTS TO PREPARE THIS. YEAH. WELL, YEAH, THAT'S THOSE ARE THE NUMBERS YOU SENT. SO AGAIN, FROM A PERCEPTION PERSPECTIVE, THOSE THAT ARE CURRENTLY PAYING TAXES, ABOUT 60% OF THE PEOPLE THAT ARE CURRENTLY PAYING TAXES WILL SEE AN INCREASE. NO, NO, NO, NO. IF ONLY 50% OF THE POPULATION SHOWN HERE. PAYS TAXES. SO. 46 IS YOUR WORKPLACE.
YEAH. SO THE 46% UP, THEY'RE ALREADY PAYING TWO AND A HALF. THAT'S 46% OF OUR RESIDENTS OF TAX PAYING AGE. OKAY. OF OUR WORKING RESIDENTS ARE ALREADY PAYING THAT. WE HAVE APPROXIMATELY 18% OF OUR RESIDENTS THAT AREN'T PAYING TAXES, NOT BECAUSE THEY'RE TOO YOUNG TO PAY TAXES. IT'S BECAUSE THEY DON'T HAVE TAXABLE INCOME, BECAUSE WE'RE NOT TAXING SOCIAL SECURITY AND RETIREMENT INCOME. SO AND WE'RE NOT TAXING UNEMPLOYMENT IF THEY'VE BEEN UNFORTUNATE ENOUGH TO GET LAID OFF OF THEIR JOB. SO WHAT, THAT NUMBER IS ONLY 35.8% OF OUR TAX PAYING POPULATION OF TAXPAYING AGE WOULD BE AFFECTED BY THIS TAX PAYING AGE, BUT NOT PAYING TAXES. WELL, THE 35%, BECAUSE WE REMOVED THE PEOPLE THAT ARE NOT PAYING TAXES BECAUSE THEY'RE ON 35% OF OUR RESIDENTS CAN EXPECT TO SEE THEIR EFFECTIVE TAX RATE INCREASE. OKAY. THANK YOU. I THINK THE STATEMENT IS ONE THIRD OF OUR RESIDENTS WILL FEEL IT IN THEIR PAYCHECK. IT'S THE POPULATION. IT'S NOT 60%. OR MAYBE IF YOU HAD OTHER NUMBERS. I THINK WE JUST NEED TO NOT WELL, THIS NEEDS TO SAY AFFECTED POPULATION AND BASICALLY NOT BY POPULATION BUT AFFECTED POPULATION. BUT. JUST ONE MORE POINT. PEOPLE THAT LIVE THAT WORK IN, IN COLUMBUS, THEY'RE PAYING WHAT PERCENTAGE OF GROSS CITY TAX NOW? SO IF ONE OF OUR RESIDENTS WORKS IN COLUMBUS, THEY PAY NO GROSS CITY TAX ON THOSE WAGES. ZERO. THEY PAY TWO AND A HALF TO COLUMBUS. THEY GET CREDIT FOR THAT AGAINST THE 2% THAT THEY OWE US WORKS OUT TO ZERO. THEY DON'T GET A REFUND. WE DON'T REFUND TAXES PAID TO COLUMBUS. SO I WANT TO SUMMARIZE THAT. ONE OF OUR BIGGEST PROBLEMS IN GROVE CITY IS WE NEED TO BE A PEOPLE IMPORTER, A JOB IMPORTER, BASICALLY. THAT'S WHERE DUBLIN'S REALLY CAPTURED A LOT. ALSO, THEY HAVE BUSINESSES, BUT AND YOU KNOW, WE'LL DISCUSS MORE OF THAT LATER. BUT WE NEED TO BE A JOB IMPORTER. WE NEED MORE LABOR DOWN HERE TO FILL OUR SLOTS AND THINGS LIKE THAT. WELL, IF YOU GO TO ANY OF THE RESTAURANTS, HALF THE RESTAURANTS ARE CLOSED DOWN ON CERTAIN SIDES BECAUSE THEY CAN'T GET WAITERS AND THINGS LIKE THAT, BUT THAT'S A WHOLE NOTHER ISSUE. WELL, NO, IT'S A IT'S A GOOD POINT. THAT WAS
[01:00:04]
ACTUALLY MY LAST POINT WAS THAT, YOU KNOW, WE'VE GOT THAT'S THE WAY WE INCREASE THE REVENUES IS BY INCREASING JOBS. RIGHT? OVERALL. YEAH. RIGHT. I HAVE ONE QUICK QUESTION. YES, PLEASE.MAYOR STAGE, YOU SAID BACK IN 2018, THE FINANCE COMMITTEE HAD RECOMMENDED THIS HALF PERCENT.
IS THERE A REASON THAT WE NEVER ACTED ON THAT OR THE HISTORY? WELL, I'LL GIVE THE EXCUSE THAT WE USE A LOT COVID. AT THAT TIME, THERE WAS SO MUCH TURMOIL IN WHAT WAS GOING ON THAT WE WE DIDN'T WE FOCUSED ON 2 OR 3 OF THE ASPECTS OF THAT REPORT. ONE OF THEM WAS THE SUGGESTED CHANGES TO THE PARKS AND REC PROGRAMING OFFERINGS THAT WE HAVE. BUT REACTING TO THE INCOME TAX. NO. AND I SAY THE OTHER PART OF IT IS WE RUN VERY CONSERVATIVE. AND FORTUNATELY, WE'VE HAD THE JOB GROWTH AND THE PIECE THAT WAS NOT MENTIONED AS PART OF THAT JOB GROWTH ARE THE NEW CONSTRUCTION JOBS THAT ARE SEASONAL. SO YOU GET A BUMP WHEN THE SCHOOLS ARE BEING BUILT, YOU GET A BUMP WHEN THE PARKS BEING BUILT. SO AT THAT TIME, THERE WAS NO REASON TO, TO, TO MOVE ON IT. BUT HERE WE ARE NOW. YEAH. SO THERE'S NO RACE FOR HOUSING.
THERE'S A RACE FOR JOBS. WITH THAT, WE WILL CAUCUS AND WE'LL BE
* This transcript was compiled from uncorrected Closed Captioning.