08-28-03 Personnel & Finance - Laserfiche WebLink

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Personnel and Finance Committee August 28, 2003 Page 7 economy. Council Member Aranowski noted that when the professional sports development fund was created that the sales tax was 5% and now the sales tax is 6%. He stated that the extra 1% should stay with the City of South Bend. Mr. 011ett stated that he would check on this issue and report back. Dr. Varner noted that the city should insist on better reporting from the N1-.F. He noted that the format utilized by Mr. Kish was a much better format and found the one-page report which he finally received just this week (copy attached) embarrassing. He added that the NFF must be accountable and that we should not have to continually ask for such information. Dr. Varner also noted that he has repeatedly requested for a copy of the NFF 501C3 IRS filing, and believes that all not-for-profit agencies should be routinely filing a copy of their forms with the city. He noted that he believes the Council could make this a requirement by ordinance and further added that the Council does have subpoena powers. He further noted that IRS form 990 is a public record. The timeliness is also an issue. Dr. Varner suggested that the city should not sent monies until all information is received. Mr. Cierzniak inquired why the city cannot find out what the salary is of the College Football Hall of Fame Executive Director. He voiced concern in light of the amount of city monies paid to the Hall. He also voiced concern of the"blanket category"of$325,000. Mayor Luecke stated that the city does not require any not-for-profit agency to disclose personnel information. In response to a question from Dr. Varner,the Mayor stated that he does not know whether the city is precluded from receiving such information on not-for-profit information. 2004 County Option Income Tax 2003 Expenditures $12,506,410 Fund # 404 2004 Expenditures TBD in Feb 04 2003 Revenue $6,392,413 2004 Revenue $6,236,716 City Controller Rick 011ett noted that they are in a January/February time frame with $235,000 to $236,000 less revenue anticipated which is related to the economy. He noted that Fort Wayne will experience a double digit percentage decrease in COIT revenues. Council Member Aranowski noted that Indiana has the highest number percentage-wise of sub- chapter S corporations. Mr. Cierzniak stated that on March 8, 1995, Mayor Kernan stated that there would be an accounting of what COIT monies are used for each year. Council Member Aranowski noted that the reports are received and reviewed each February. Mr. Cierzniak stated that COIT appears to have become a "cash cow", which should instead be used for city needs such as in the public safety and public works area vs. "Social welfare spending"such as the$150,000 spent on after school programs.