COLUMBI/N&
BOARD OF REALTORS®
~-February 18,2018
Mayor Brian Treece
City of Columbia Missouri
P.0. Box 6015
Columbia, MO 65202-6015
Dear Mayor Trees:
During the past year, there has been substantial discussion and debate regarding the current financial
position ofthe city. Specificaly, ithas become apparent that the city’s general tax base has failed to keep
pace with the demands faced by a growing and vibrant community. Critcal decisions will need to be made
to continue to provide services at the same level our community has come to expect inthe past. The
direction the city takes in addressing these issues is of primary concer to the Columbia Board of
REALTORS® Board of Directors, our members and the communily-at-large.
This past year, we had an opportunity o improve the city’s financial status when the City placed a measure
on the baliot that would allow forthe collection of sales taxes on Internet purchases. Allhough the Board of
REALTORS® supported that measure, the voters of Columbia did not. There are los of possible reasons
why that measure failed, Some people have cited general tax weariness. Some have cited confusion over
how the initiative would have been implemented, Others have indicated the City may have sufficient
resources to provide the services our community needs, but that funds are somehow being misallocated, or
at the very least, are not being managed in a way that is understandable and transparent to everyday
citizens, This idea was reinforced recently when a local newspeper reported the City had over-collected
funds through utility rate increases, and those funds are now sitting idle in @ restricted account, primarily
due to reliance on poor planning and errant needs and budget projections.
We realize our cty budget is @ remarkably complex docurnent and the city goes to great lengths to present
and explain its financial plans for the coming year during each budget cycle. But somehow, those efforts
seem fo be lost on an increasing number of Columbians. We know the services and programs our city
provides have a price tag, but we also know a price is paid ultimately by the citizens ofthis area. I's not
really city money — itis our money - and we are willing fo spend it when we believe the priorities, the
methods of collection and the allocation of those funds is fair and appropriate
One thing that could help restore confidence in the minds of our voters and help address the problem of tax
weariness would be for a professional, independent source to examine the way we do business in
Columbia and report those findings back tothe voters. Such an audit could help dispel misconceptions
about the financial management and status ofthe city; could help restore confidence in the process by
which we adapt our city budget each year; and may provide insight into those areas where our system of
financial governance could be improved. We should not fear any of those outcomes. Infact, we believe,
unless we take such a step it will be increasingly difficult to gain future suppor for programs that keep our
city vibrant, safe and affordable.
2309 1-70 Drive N.W. * Columbia, MO 65202 + 573/446-2400 + FAX 573/446-2646What those programs are; how they are funded; and how the responsibilty for funding for such programs is
allocated among our citizens is a debate for another day. But, until we address the fundamental questions
of trust and transparency, those questions will remain a moot point.
Therefore; the Columbia Board of REALTORS® Board of Directors; on behalf of its members-and the
clients we serve, respectfully joins with other community voices in asking the Clly Council of Columbia,
Missouri formally request an audit ofits records, methods, and finances from the Auditor of the State of
Missouri. We also ask the results of such audit be availabe to the citizens of Columbia on a timely and
transparent basis, We fully realize there could be a substantial cost associated with such a process, and
the voters of this community wil be responsible for that bil, However, ifthe results of such an aut indicate
our current financial management system needs improverent, we can use the information fo create a
roadmap forthe future that can recoup those costs through tax and rate savings and addtional effciencies.
ifthe audit comes back clean, it can help dispel the allegations of mismanagement that currently exist and
can help restore confidence in our local government and leaders. Either way, it will help demonstrate this
city’s commitment to eficient and transparent governance and allow for us to address critical issues in an
informed and forthright manner, We believe that either outcome is worth our collective investment at this
time.
Thank you for your consideration of this request. We sincerely believe that such an action would bein the
best interest of the community that we call home.
Respectiully,
Sceeaeey AT
~ Sean Moore
2018 President /
Columbia Board of REALTORS®