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File #: 25-412    Version: 1 Name: CC - CONSENT ITEM: Receipt and Filing of Measure CC and Measure C Sales Tax Status Reports (FY 2023-2024, First Quarter) and Real Property Transfer Tax Status Report (FY 2023-2024, Second Quarter)
Type: Minute Order Status: Consent Agenda
File created: 10/11/2024 In control: City Council Meeting Agenda
On agenda: 10/28/2024 Final action:
Title: CC - CONSENT ITEM: Receipt and Filing of Measure CC and Measure C Sales Tax Status Reports (FY 2023-2024, Third Quarter) and Real Property Transfer Tax Status Report (FY 2023-2024, Fourth Quarter), as Approved by the Finance Advisory Committee.
Attachments: 1. 2024_10_28 ATT 1 - Measure CC & C Status Report FY 24 Q3.pdf, 2. 2024_10_28 ATT 2 - Real Property Transfer Tax Q4 FY 23-24.pdf
Date Ver.Action ByActionResultAction DetailsMeeting DetailsVideo
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CC - CONSENT ITEM: Receipt and Filing of Measure CC and Measure C Sales Tax Status Reports (FY 2023-2024, Third Quarter) and Real Property Transfer Tax Status Report (FY 2023-2024, Fourth Quarter), as Approved by the Finance Advisory Committee.

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Meeting Date: October 28, 2024

Contact Person/Dept.: Lisa Soghor/Finance Department

Phone Number: (310) 253-5865

Fiscal Impact: Yes [] No [X] General Fund: Yes [] No [X]

Attachments: Yes [X] No []

Public Notification: (E-Mail) Meetings and Agendas - City Council (10/23/2024); (Email) Meetings and Agendas - Fiscal and Budget Issues (10/22/2024)

Departmental Approval: Lisa Soghor, Chief Financial Officer (10/14/2024)
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RECOMMENDATION

Staff recommends the City Council receive and file the attached Measure CC and Measure C Sales Tax Status Reports (FY 2023-2024, Third Quarter) and Real Property Transfer Tax Status Report (FY 2023-2024, Fourth Quarter), as approved by the Finance Advisory Committee (FAC) on September 25, 2024.


BACKGROUND/DISCUSSION

In November 2012, Culver City residents voted to adopt Measure Y, a half-cent transaction and use tax to maintain critical City services for 10 years. In March 2020, Culver City residents voted to adopt Measure CC to continue the half-cent tax through 2033.

In November 2018, Culver City voters passed Measure C, a quarter-cent local transaction and use tax to maintain the current level of public safety services, community programs, infrastructure maintenance, and other City services funded through the City's General Fund. Measure C collections began in April 2019 and will remain in effect until ended by voters. The ballot measure included the stipulation that, if passed, the FAC would provide quarterly reports of fund proceeds to the City Council.
The FAC Fiscal Year 2024-2025 Schedule of Activities/Work Plan includes the review of Measure C and CC proceeds.

The Ca...

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