HomeMy WebLinkAbout*Other - TreasurerBarbara Vasquez
From:
Darryl Pheasant
Sent:
Friday, October 23, 2020 10:32 AM
To:
Barbara Vasquez
Subject:
REC Silicon Tax distribution worksheet
Attachments:
GCTR-Sharp@grantcountywa.gov_20201020_153408.pdf
The Commissioners need to approve the REC Settlement disbursement schedule of funds over the 6 years between how
is disbursed to taxing districts each year and how much is disbursed to the county for the interest owed accruing from
April 30, 2013. 1 had provided to them my proposed schedule which sounds like they want to follow but I am not
empowered to set this schedule. After their approval I can send to the taxing districts the payment schedule so they can
budget accordingly for the revenue they will get each year for the next six years.
Darryl Pheasant
Grant County Treasurer
'7__day of_ 0 20,b
d of County Commissioners
„rant County, Washington
509-754-2011 x4253 DisarP ove Abstain
-----Original Message-----
Hist V, I Dist # 1
From: Darryl Pheasant Dist # 2 _ Dist # 2
Sent: Tuesday, October 20, 2020 4:38 PM " __ Dist # 3 _
To: Melissa R. McKnight <mrm@grantcountywa.gov>; Kevin J. McCrae <kmccrae@grantcountywa.gov>; Richard Stevt
<rstevens@grantcountywa.gov>; Cindy Carter <ccarter@grantcountywa.gov>; Thomas H. Taylor
<thtaylor@gra ntcou ntywa.gov>
Subject: REC Silicon Tax distribution worksheet
Enclosed is a worksheet showing the distribution of taxes and interest over the years to the final payment on 12/15/26.
Per your acceptance, I have only recoved enough interest from the first payment to cover all attorney fees past and
future and disbursed the rest of the interest REC owed over the next six years to give the taxing districts more up front
for their share. Please note that per the law, all past State Levy portions automatically go to the current expense fund as
well and all the interest where the results over the years the county current expense fund will get slightly over half of
the 13.5 million dollars and the rest to the other taxing districts. I do not know what your expectations were of our
share of this settlement but this is quite the amount that the taxing districts may feel is not a fair distribution despite the
county incurring all the cost in this long process.
Since the Assessor and Treasurer only can make a recommendation of how this is to be disbursed per the breakout each
year, please let us know if this disbursement schedule each year between taxes and interest is agreeable or if you wish
to talk about any concerns or other options we can do over this six year time period. If everything looks like what you
wish, we can then send this worksheet to the taxing districts to show how much they will get each year for budgeting
purposes.
Darryl Pheasant
Grant County Treasurer
509-754-2011x4253
RECEIVED
I OCT 2 3 2020
'GRANT COUNTY COMMISSIONERS
REC Silicon tax distributions per district for payments periods shown below for 2013 to 2016 taxes supplemented
12/15/2020
12/15/2021
12/15/2022
12/15/2023
12/15/2024
12/15/2025
12/15/2026
Total All years
State Levy
375,180.73
267,928.87
267,928.87
246,123.31
243,252.13
231,409.91
231,409.91
1,863,233.73
State Levy
Current Expense
231,746.91
165,498.07
165,498.07
170,816.01
170,136.90
163,182.28
163,182.28
1,230,060.51
Current Expense
Mental Health
3,284.86
2,345.83
2,345.83
2,421.20
2,411.58
2,313.00
2,313.00
17,435.30
Mental Health
Veterans Relief
1,478.19
1,055.62
1,055.62
1,089.54
1,085.21
1,040.85
1,040.85
7,845.89
Veterans Relief
Joint Library
59,279.38
42,333.35
42,333.35
43,597.69
43,443.92
41,845.26
41,845.26
314,678.20
Joint Library
Moses Lake
413,740.53
295,465.68
295,465.68
305,055.82
303,823.47
291,227.00
291,227.00
2,196,005.20
Moses Lake
Hosp 1 Gen
65,697.21
46,916.53
46,916.53
48,424.10
48,231.58
46,260.04
46,260.04
348,706.03
Hosp 1 Gen
Port 10 Gen
59,127.49
42,224.88
42,224.88
43,581.69
43,408.42
41,634.03
41,634.03
313,835.42
Port 10 Gen
SD 161 Gen
559,612.11
399,637.37
399,637.37
403,094.37
408,015.41
441,760.40
441,760.40
3,053,517.44
SD 161 Gen
SD 161 Bond
93,251.28
66,593.80
66,593.80
65,796.25
66,191.38
69,327.23
69,327.23
497,080.96
SD 161 Bond
1,862,398.68
1,330,000.00
1,330,000.00
1,330,000.00
1,330,000.00
1,330,000.00
1,330,000.00
9,842,398.68
Payment Schedule for REC Silicon
Taxes
Interest
Annual Payment
Payment Date
1,862,398.68
1,137,601.32
3,000,000.00
12/15/2020
1,330,000.00
420,000.00
1,750,000.00
12/15/2021
1,330,000.00
420,000.00
1,750,000.00
12/15/2022
1,330,000.00
420,000.00
1,750,000.00
12/15/2023
1,330,000.00
420,000.00
1,750,000.00
12/15/2024
1,330,000.00
420,000.00
1,750,000.00
12/15/2025
1,330,000.00
420,000.00
1,750,000.00
12/15/2026
Totals
9,842,398.68
3,657,601.32
13,500,000.00