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(1) Discuss Proposed Measure CW Annual Report and (2) Provide a Recommendation for Transmittal to City Council
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Meeting Date: October 10, 2018
Contact Person/Dept: Erica McAdoo/Finance Department
Phone Number: (310) 253-5865
Fiscal Impact: Yes [] No [X] General Fund: Yes [] No [X]
Public Hearing: [] Action Item: [X] Attachments: []
Public Notification: (E-Mail) Meetings and Agendas - Finance Advisory Committee (10/03/18)
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RECOMMENDATION
Staff recommends that the Finance Advisory Committee (FAC) (1) discuss the proposed Measure CW Annual Report; and (2) provide a recommendation for transmittal to City Council.
BACKGROUND/DISCUSSION
During the November 8, 2016 Special Municipal Election, Culver City residents voted on Measure CW, the Clean Water, Clean Beach Parcel Tax (Measure CW). The The Measure was approved receiving over 73% of votes in favor of raising funds improvements in water quality in Ballona Creek, Marina del Rey, Santa Monica Bay, and the Pacific Ocean.
The ballot measure included language that the Finance Advisory Committee would oversee how the funds were spent, stating: “On an annual basis, the City’s Finance Advisory Committee shall review the revenues and expenditures of the Parcel Tax Proceeds consistent with the City Council Adopted Budget, and submit a report of its findings to the City Council.”
Finance Staff will provide a Measure CW Annual Report draft for review and Committee discussion.
ATTACHMENTS
None
MOTION
That the FAC:
1. Hold discussion; and,
2. Provide a recommendation for transmittal to City Council.