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CC - CONSENT ITEM: Receipt and Filing of Measure CC and Measure C Sales Tax Status Reports (FY 2022-2023, Fourth Quarter) and Real Property Transfer Tax Status Report (FY 2023-2024, First Quarter), as Approved by the Finance Advisory Committee.
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Meeting Date: February 12, 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 (02/07/2024); (Email) Meetings and Agendas - Fiscal and Budget Issues (02/07/2024)
Departmental Approval: Lisa Soghor, Chief Financial Officer (02/05/2024)
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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 2022-2023, Fourth Quarter) and Real Property Transfer Tax Status Report (FY 2023-2024, First Quarter), as approved by the Finance Advisory Committee (FAC) on January 10, 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 the next 10 years. In March 2020, Culver City residents voted to adopt Measure CC to continue the half cent tax through 2033. The FAC Work Plan states that the FAC will "continue to provide quarterly reports to the City Council on Measure CC proceeds."
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 and expe...
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