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Discussion of Measure Y and Measure C Sales Tax Status Reports
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Meeting Date: February 13, 2019
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: [] Attachments: [X]
Public Notification: (Email) Meetings and Agendas - Finance Advisory Committee (02/08/19)
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RECOMMENDATION
Staff recommends the Finance Advisory Committee (FAC) discuss the format of future Measure Y and Measure C Sales Tax Status Reports.
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 Finance Advisory has developed a one-page report Measure Y Status Report with the intent to provide background information on Measure Y, show budget versus actual results by fiscal year, top 25 Measure Y sales tax producers, and the cumulative totals received for each period. Eighteen Measure Y Sales Tax Status Reports have been transmitted to the City Council to date.
In November 2018, voters passed a one-quarter cent local transactions and use tax measure (Measure C). Included in the ballot measure was the provision that if passed, the Finance Advisory Committee will provide quarterly reports of fund proceeds and expenditures to the City Council.
While Measure C proceeds will not begin collections until April 2019 and reporting not until several months following, Staff recommends the FAC initiate discussions of how it would like to proceed with future Transaction and Use Tax Measures (Measure Y & C).
ATTACHMENTS
1. FAC Measure Y Reports
MOTION
That the Finance Advisory Committee:
1. Discuss Measure Y & C Status Reporting; and
2. Make recommendations to Staff.