eComments During Meetings: When available, click here to submit eComments during a live meeting | Attendees must register here to attend all virtual meetings.

Share to Facebook Share to Twitter Bookmark and Share
File #: 21-1071    Version: 1 Name: FAC Measure CC & C Status Reports - FY21Q2
Type: Minute Order Status: Action Item
File created: 6/1/2021 In control: FINANCE ADVISORY COMMITTEE
On agenda: 6/9/2021 Final action:
Title: Approval of Measure CC and C Sales Tax Status Reports for Transmittal to City Council
Attachments: 1. Measure CC Status Report - XXVIII, 2. Measure C Status Report - VII
Date Ver.Action ByActionResultAction DetailsMeeting DetailsVideo
No records to display.
title
Approval of Measure CC and C Sales Tax Status Reports for Transmittal to City Council

body

Meeting Date: June 9, 2021

Contact Person/Dept: Punit Chokshi/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 (06/03/21)

Departmental Approval: Onyx Jones, Chief Financial Officer (06/03/21)
______________________________________________________________________


RECOMMENDATION

Staff recommends the Finance Advisory Committee (FAC) approve the Measure CC and Measure C Sales Tax Status Report for transmittal to City Council.


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." In March 3, 2020, Culver City residents voted in support of the continuation of the Measure Y half-cent sales tax under ballot Measure CC, effectively extending the 1/2 cent sales tax through 2033. As a result of the approval, the extension of this Measure in turn shall now be referred to as Measure CC.

Additionally, 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. Measure C collections began in April 2019.

The Finance Advisory Committee has developed infographic-based Measure C and Measure C Status Reports to provide background information, illustrate budget versus actual results by fiscal year, top 25 sales tax producers, and the cumulative totals received for each period.

With approval of the FAC, and incorporating any changes requested, staff will transmit the reports to the City Council.


ATTACHMENTS

1. Measure Y S...

Click here for full text