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HomeMy WebLinkAboutVATOC 2024-12-17 Minutes1 VOTER-APPROVED TAX OVERSIGHT COMMITTEE DECEMBER 17, 2024 AT 5:30PM REGULAR MEETING COMMUNITY DEVELOPMENT LARGE CONFERENCE ROOM CITY HALL 3RD FLOOR 1400 FIFTH AVENUE SAN RAFAEL, CALIFORNIA MEETING MINUTES CALL TO ORDER – 5:35pm • Roll Call Members Present: Chuck Freide (Chair), Carsten Andersen, Caleb McWaters, Stephen Roth Staff Present: Paul Navazio, Shawn Plate MINUTES 1. Approve regular meeting minutes from meeting of October 22, 2024. It was moved (Roth) and seconded (McWaters) to approve the minutes from the meeting of October 22, 2024. The motion to approve the minutes was passed by the following vote: Ayes: Andersen, Friede, McWaters, Roth Noes: None Abstain: None MEETING OPEN TO THE PUBLIC 2. Introductions / Awards / Recognitions / Presentations None 3. Public Comment from the audience regarding items not listed on the agenda. None MATTERS BEFORE THE COMMITTEE 4. Presentation of Audited Financials from FY 2023-24 • Staff presented a report which included the audited revenue and expenditure results for the fiscal year ending June 30, 2024. Staff noted that there were no changes to report between the unaudited results presented to the Committee in October. • Staff also reviewed supplemental information that had been requested by the Committee based on their review of unaudited financial results presented at the meeting of October 22, 2024. This included the addition of a debt service schedules related to bonds supported by Measure E (Lease Revenue Bonds, Series 2018). As well as providing the Committee with a link to the most recent Measure E – Essential Facilities Plan. 2 • Chair Freide inquired about the “yields” reflected in the debt schedule; staff clarified that the yields are reported as of the date of bond issuance. • Regarding the Measure E – Essential Facilities Plan, staff noted that the City has largely completed the initial phases of the Essential Facilities Plan, to include construction of the Public Safety Center as well as renovations at several Fire Stations. It is expected that a process will be developed to inform capital project priorities for the next phase of the Measure E Essential Facilities Plan with preliminary estimates suggesting a capacity of $8.0 - $10.0 million from future Measure E Essential Facilities revenue allocations, net of debt service requirements on existing bonds. • Committee members also inquired about specific funding allocations and transactions, including: • Regarding the Measure E – Essential Facilities Plan, staff noted that the City has largely completed the initial phases of the Essential Facilities Plan, to include construction of the Public Safety Center as well as renovations at several Fire Stations. It is expected that a process will be developed to inform capital project priorities for the next phase of the Measure E Essential Facilities Plan with preliminary estimates suggesting a capacity of between $8.0 - $10.0 million from future Measure E Essential Facilities revenue allocations, net of debt service requirements on existing bonds. • Committee Member McWalters noted, again, that one-third of Measure E is allocated for Essential Facilities capital projects, and that two-thirds of Measure E is appropriated for expenditure within the City’s General Fund. As a result, while the Committee is able to review and discuss how the one-third allocation of Measure E is being utilized for Essential Facilities, the Committee does not have visibility to expenditures supported by the two- thirds of Measure E revenues that are accounted for within the General Fund. This issue points to the broader need for clarification as to the role of the Committee in relation to review of General Fund expenditures supported by voter-approved revenues (Measure E and Measure R). One option discussed would be to modify the City’s accounting and reporting to provided visibility on expenditure of voter-approved general purpose taxes; the other option would be to clarify, within the Charter that established the Voter-Approved Tax Oversight Committee, that expenditures supported by voter- approved general fund tax revenues are outside of the scope of responsibility for the Committee. • Chair Freide suggested that the Committee would benefit from a general City budget overview to better understand how the tax measures under its purview contribute to the overall City budget. 5. Presentation and Approval of Annual Report Following the discussion of the audited financial results and supplementary information, the Committee reviewed the draft Annual Report prepared by staff. • Chair Freide indicated that staff had prepared a draft report, modeled against the template used in prior years. The Committee then discussed how best to highlight some of the topics covered in the course of the Committee’s discussion. • Director Navazio suggested that this could be included in the cover memo (staff report) that accompanies the Committee’s Annual Report to the City Council. Issues to be covered would 3 include: 1) Measures E & R - Voter-Approved Tax Oversight Committee’s role in review of expenditure of General Purpose Tax Revenues 2) Measure P – does the City Council intend for the Committee to assume oversight responsibilities for the newly-approved parcel tax to fund construction of a new Main Library and Community Center. 3) Paramedic Parcel Tax – request that any future measure to renew/modify the existing Paramedic Parcel Tax should be incorporated within the scope of the Committee’s oversight responsibility. It was moved (McWaters,) and seconded (Andersen) to approve the draft Annual Report of the Voter-Approved Tax Oversight Committee, as presented, and authorize the transmittal of the report to the City Council, with issues discussed highlighted within the staff report. The motion to approve the Annual Report was passed by the following vote: Ayes: Andersen, Friede, McWaters, Roth Noes: None Abstain: None STAFF COMMENTS 6. Schedule of upcoming meetings and events of interest • Chari Freide asked whether the current cadence of meetings (October and December) are adequate for the Committee to fulfill its charter. The Committee discussed holding a meeting to review preliminary financial results prior to availability of unaudited final results. • Discussion of potential “optional” meeting to discuss overall City budget; could also be incorporated into the September/October meeting date. ADJOURNMENT The meeting was adjourned at 6:38pm. Notice Any records relating to an agenda item, received by a majority or more of the Committee less than 72 hours before the meeting, shall be available for inspection in online. Sign Language interpreters and assistive listening devices may be requested by calling (415) 485-3066 (voice), emailing Lindsay.lara@cityofsanrafael.org or using the California Telecommunications Relay Service by dialing “711”, at least 72 hours in advance of the meeting. Copies of documents are available in accessible formats upon request. Public transportation is available through Golden Gate Transit, Line 22 or 23. Paratransit is available by calling Whistlestop. Wheels at (415) 454-0964. To allow individuals with environmental illness or multiple chemical sensitivity to attend the meeting/hearing, individuals are requested to refrain from wearing scented products.