Week ending November 17, 2018
2017 Comprehensive Annual Financial Report (CAFR)
The City of Lawrence reissued the 2017 Comprehensive Annual Financial Report (CAFR). While in the process of issuing Water & Sewer Special Revenue Bonds, it was determined that the cash amount of $53,505,777 shown in the Statement of Net Position for the Water and Sewer Fund on page 18 contained $35,117,971 of restricted cash and investments. Staff wanted to make this distinction to more accurately reflect the days of cash on hand when determining liquidity. This notation was included in the City’s Preliminary Offering Statement to ensure that potential inventors had an accurate depiction of the City’s finances. This update has been reflected in the CAFR on the City’s website and on Electronic Municipal Market Access (EMMA) which houses municipal bond offering documents, trade data, and ongoing disclosures.
Utility Monthly Billing Report
Attached is the monthly Utility Billing Report for October.
October 2018 Sales Tax Report
The October 2018 Sales Tax Report has been posted on the Finance Department’s site, https://lawrenceks.org/finance/accounting/sales-tax/. The attached October report shows year-to-date sales tax revenues that saw a 1.7% increase over the same period in 2017. October 2018 saw a 1.78% increase over the same month in 2017.
October Building Permit Report
The Building Safety Division issued 293 building permits in October, with total construction for the month valued at $34,355,495. Total permit fees assessed for the month were $225,339, and total review fees assessed were $24,994. Permits were issued for 60 new residential projects, including 15 single-family dwellings, 25 duplexes and 20 multi-family dwellings with 336 dwelling units. Staff Report Monthly Permit Report Year-to-Date Summary
Follow-up on Effects of Off-Campus College Students on Poverty Rates
Staff presented a memo on the 11/6/2018 City Manager’s report reflecting the community’s poverty rate when accounting for university students. A question arose as to whether the data differentiated between traditional and non-traditional students. Staff reviewed this and found that the formula used by the U.S, Census Bureau does not differentiate between traditional and non-traditional students in its reduction method. The calculation only excludes two groups of college students: those residing with parents or relatives and those living in group quarters (college dormitories). College students residing with parents or relatives are excluded because their poverty status is determined together with their families by the Bureau. Students living in college dormitories are excluded because they are not part of the poverty universe used for the official poverty measure.
Online Standard Traffic Ordinance
At its August 7, 2018 meeting, the City Commission received public comment requesting the City to publish the website edition of the Standard Traffic Ordinance (STO). The City Clerk’s Office purchased an online version of the STO from the League of Kansas Municipalities and combined the document with the City’s local amendments, including those found in City Code Chapter 17. Comments were added to the electronic STO in the appropriate sections to denote areas that were amended by the City. The purpose of the electronic version is to provide convenience for members of the public in accessing the Standard Traffic Ordinances online rather than reviewing a paper copy in person at City Hall. Staff believes this electronic version of the STO will appropriately communicate the amendments to the general public and provide an efficient means of obtaining a copy of the ordinances by the public. This document should be on the website in the coming weeks.
Future Agenda Items
Attached, please find a summary of future agenda items.
Future Work Session Items
Attached, please find a summary of future work session items.