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CC - Receive and File the Measure Y Sales Tax Status Report as Approved by the Finance Advisory Committee.
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Meeting Date: December 10, 2018
Contact Person/Dept: Erica McAdoo/Finance Department
Phone Number: (310) 253-5865
Fiscal Impact: Yes [] No [X] General Fund: Yes [] No []
Public Hearing: [] Action Item: [] Attachments: [X]
Commission Action Required: Yes [] No []
Public Notification: (E-Mail) Meetings and Agendas - City Council (12/05/18); (Email) Meetings and Agendas - Fiscal and Budget Issues (12/05/18)
Department Approval: Kambiz Borhani, Assistant Chief Financial Officer (11/30/18)
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RECOMMENDATION
Staff recommends the City Council receive and file the attached Measure Y Sales Tax Status Report as approved by the Finance Advisory Committee (FAC).
BACKGROUND/DISCUSSION
Item 2 on the FAC Work Plan is to: “Develop a methodology to analyze Measure Y proceeds and report the results to the public.” The attached Measure Y Status Report is a simple, one-page report providing some background information on Measure Y, and showing budget versus actual results by fiscal year, top 25 Measure Y sales tax producers, and the cumulative totals received through the third quarter of the 2017/2018 fiscal year.
This is the sixteenth report being presented by the FAC and is in a format consistent with previously approved reports. The FAC has approved this report and recommended it be transmitted to the City Council.
FISCAL ANALYSIS
Receipt and filing of this report does not create a fiscal impact.
ATTACHMENTS
Measure Y Sales Tax Status Report XVII
MOTION
That the City Council:
Receive and file the Measure Y Sales Tax Status Report.