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File #: 23-02    Version: 1 Name: CC - FAC Measure CC & C FY21Q4 and RE Status Reports
Type: Minute Order Status: Consent Agenda
File created: 6/29/2022 In control: City Council Meeting Agenda
On agenda: 7/11/2022 Final action:
Title: CC - CONSENT ITEM: Receipt and Filing of FY2021/2022 2nd Quarter Measure CC and C Sales Tax Status Reports and FY2021/2022 3rd Quarter Measure RE Property Tax Report as Approved by the Finance Advisory Committee
Attachments: 1. 2022_07_11 - ATT1 - Measure CC Status Report - XXXII, 2. 2022_07_11 - ATT2 - Measure C Status Report - XI, 3. 2022_07_11 - ATT3 - Measure RE Status Report - III
Date Ver.Action ByActionResultAction DetailsMeeting DetailsVideo
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CC - CONSENT ITEM: Receipt and Filing of FY2021/2022 2nd Quarter Measure CC and C Sales Tax Status Reports and FY2021/2022 3rd Quarter Measure RE Property Tax Report as Approved by the Finance Advisory Committee

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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 (07/07/2022); (Email) Meetings and Agendas - Fiscal and Budget Issues (07/07/2022)

Departmental Approval: Lisa Soghor, Chief Financial Officer (07/06/2022)
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RECOMMENDATION

Staff recommends the City Council receive and file the attached FY2021/2022 2nd Quarter Measure CC and Measure C Sales Tax Status Reports and FY2021/2022 3rd Quarter Measure RE Property Tax 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 CC proceeds and report the results to the public." On 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 Measure Y in turn shall now be referred to as Measure CC. Additionally, Item 6 of the Work Plan states that the FAC will "provide quarterly reports to the City Council on the One-quarter Cent Local Transactions and Use Tax Measure proceeds", named Measure C.

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. Due to reporting agency lag, Measure C and CC reports for review this period cover F...

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