Where is the annual forecast for this revenue and who developed it? The total amount for Tier 1 & 2 is almost $170 million dollars over 6 years. However, the amount of revenue forecasted with ...

 Question: Where is the annual forecast for this revenue and who developed it?  The total amount for Tier 1 & 2 is almost $170 million dollars over 6 years.  However, the amount of revenue forecasted with the LOST, which is also a 1% tax for the past 6 years, has only been some $93 million dollars.

Answer: The revenue collections were estimated by our Chief Financial Officer, in conjunction with two economists at the College of Coastal Georgia, as well as input from Gude, our outside SPLOST consultants.  The range of tax collected estimated was between $1.85M to $ 2.4M.  Glynn County used the low end of the monthly estimate to establish the Tier 1 amount:  $133M and the high end to determine the Tier 2 amount: $170M.  The Tier 1 amount represents the projects the County (and all partners) must fund and complete.  Tier 2 projects will only begin if SPLOST revenue collects more that the Tier 1 amount. 

 

By comparison, LOST collections for the County and City over the last 6 years have totaled $151M.  The State of Georgia started implementing a sales tax on all internet purchases, which has increased collections monthly.  In FY22, we collected $32M between the County & the City.  Assuming no growth at all if everything stayed flat, we would collect $192M over six years, so it is clear the six-year SPLOST estimates are conservative, in case of an economic turndown in the economy. 

 

Also, by comparison, E-SPLOST has collected $32.4 million in FY21/22 with an average of $2.7 million collected per month.  In July 2022, E-SPLOST collected $3.2 million.

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1. How did SPLOST come to be?
2. Who pays SPLOST?
3. How long does SPLOST last?
4. How was the SPLOST list created?
5. How do 2nd Tier projects that were included in the SPLOST Referendum become funded?
6. What are some examples of past SPLOST projects?
7. When will this referendum be voted on?
8. The single largest line item on the county project list is $14M for SSI Gateway & Torras Causeway Traffic Improvements. What exactly would this money be spent on?
9. The next largest line item is $11.7M for a Public Safety Multiuse Facility for Emergency Operations, Communications Continuity of Operations Center, and First Responder Training Center. Can you ...
10. Are there any proposed Tier 2 projects for the Economic Development Authority, Jekyll Island Authority, or Glynn County Airport Commission?
11. Can you explain your process for determining the current cost estimates for your project lists? Have you already secured bids or quotes? In the past, actual costs for SPLOST projects have far ...
12. Are the proposed software updates considered eligible projects, they do not seem to meet the definition of capital outlay as defined in OCGA 14-8-11(a)(1). They seem more like current expenditures.
13. What are the expected timelines for these projects to begin and be completed? I understand that there is a six-year window but would also like to know when and how the projects will be prioritized.
14. What is the estimated timeline for each project from RFP until final signoff of the Capital Project final payment?
15. Though Georgia State law does allow the use of the SPLOST process to purchase capital equipment such as fire trucks, etc.... Why are we doing it this way? Why aren't these items part of the ...
16. Where is the annual forecast for this revenue and who developed it? The total amount for Tier 1 & 2 is almost $170 million dollars over 6 years. However, the amount of revenue forecasted with ...
17. Though the projects are split into Tier 1 and Tier 2 categories, what is the order of priority of each category? How do we know which projects will be executed first?