Fiscal Court February 6

Highlights

• Transportation Improvement District’s next step is appointing a board. Each commissioner is able to appoint a member.
• Opening for Dispatcher Positions. Read more here.
• Attend the next Fiscal Court meeting, Tuesday, February 20, 2024 @ 5:30 pm
• MeetNKY looks to enhance the convention center to increase visitors and tax revenue to the area. (Tax is paid by non-residents.)
• Proposed new amateur sports complex in NKY to bring in revenue and relieve overcrowding of local league play. Looking for a 70-acre plot of land to potentially be developed.
• Audit Report

MeetNKY Presentation

• Currently looking to enhance the convention center. Future plans include a 450-room hotel to the west of the convention center, but the board is not currently looking at that.

• Currently high-volume meetings at the convention center are faith based meetings, the Christian Health Fellowship, Military and Institute of Navigation.

• The proposed goal is to increase non-resident tax revenue collected by tourism and give future residents exposure. The planned enhancement would bring in 78,600 visitors long-term.

• Hotels self-collect the tax. That tax is not seen in the Boone County budget. A citizen living in Boone Co is not paying the tax, so more visitors bring more non-resident tax revenue.

New Amateur Sports Complex in NKY

• CSL was hired to do a feasibility study for a sports complex. The findings were favorable given the 2.5 million people within an hour’s drive and the lack of current capacity for local sports. Additional revenue would be brought in by tournament play. The proposal is a publicly funded, privately managed facility. Two concepts were presented: 
  • Outside multisport rectange field. Heavy land usage (70 acres)
  • Indoor sports facility (courts and turf)

• The most obvious struggle for this project is finding a parcel of land large enough with the correct topography. Given its topography, Boone County is better positioned for this project than Campbell and Kenton counties. If you have ideas for suitable land, bring ideas.

Dean Dortan, Manager of Audit, Presentation Highlights

• 2021 audit was reissued because previously some revenues were improperly grouped with 2022 when they should have been listed in the 2021 revenue category.

• State still on review, awaiting approval, which should be released within a couple of days of this meeting. 

• Total assets $478MM, an increase of $29MM. Increase in investments along with some capital assets

• Total liabilities $96MM, a decrease of $2MM. Significant drop in pension liability.

• General revenues from county, $78MM, an increase of $5MM. Increase in property tax and occupational license revenue.

• Program revenue. Ended in $40MM, an increase of $431k.

• Total expenses $97MM, an increase of $12MM. Significant decrease in pension but increase overall of new roads/construction, capital improvements

• Statement of Federal Expenditures $8.2MM as part of performing audit, what is considered a major program. Major program here was the Coronavirus Recovery Funds, about $7.2MM.

• Robert Notton, county treasurer, would like to start the audit within a month ending the final year.

• Commissioner Hand asked for a summary of recommendations and countermeasures from Mr. Notton. Mr. Notton said that can be provided.

Zoning Highlights

Commissioner Hand pointed out only the goals in accordance with a change are mentioned, not the conflicts of goals and objectives in the zoning committee reports. Staff member says his staff report shows those but the committee reports do not.