HomeMy WebLinkAboutFin Measure E Annual Report FY2014-15
Agenda Item No: 4.d
Meeting Date: January 19, 2016
SAN RAFAEL CITY COUNCIL AGENDA REPORT
Department: Finance
Prepared by: Mark Moses City Manager Approval: __________
Finance Director
TOPIC: ANNUAL MEASURE E TUT OVERSIGHT COMMITTEE REPORT
SUBJECT:RESOLUTION ACCEPTING THE MEASURE E TRANSACTIONS AND
USE TAX OVERSIGHT COMMITTEE REPORT FOR FISCAL YEAR
2014-2015
RECOMMENDATION: ADOPT RESOLUTION
BACKGROUND:
On August 5, 2013, the San Rafael City Council passed Ordinance No. 1913,
establishing a new Transactions and Use Tax (TUT) subject to voter approval. On November 5,
2013, San Rafael voters approved Measure E. This new, twenty-year San Rafael three-quarter
percent TUT became effective April 1, 2014, and supplanted the former Measure S one-half
percent TUT, which had been in effect since April 1, 2006, and was originally scheduled to
terminate on March 31, 2016.
Similar to the previous (Measure S) TUT, the enabling TUT ordinance for Measure E calledfor
the creation of an independent oversight committee to review the collection and expenditure of
this tax revenue. This committee was established on April 7, 2014 by City Council Resolution
No. 13704 which also set forth the roles, responsibilities and duties of the committee. On
October 6, 2014, the City Council appointed five members to the committee.
The purpose of this report is to present and recommend acceptance of the Measure E TUT
Oversight Committee report of November 10, 2015.
ANALYSIS:
The Measure E Oversight Committee met on November 10, 2015, to review the
actual Measure E TUT revenues and expenditures for fiscal year 2014-2015.
Staff reported that during fiscal year 2014-2015, $11,201,000 of Measure E TUT revenues were
collected and recorded in the General Fund. Consistent with the direction provided by the City
Council, $3,733,667 representing the additional one-quarter percent provided by Measure E was
____________________________________________________________________________________
FOR CITY CLERK ONLY
File No.: 9-2-68
Council Meeting: 01/19/2016
Disposition: Resolution 14056
SAN RAFAEL CITY COUNCIL AGENDA REPORT / Page: 2
assigned to a Public Safety Facilities Emergency Reserve. From these funds, $235,197 was
expended as of June 30, 2015, for pre-construction project costs. This resulted in a net addition
of $3,498,470 to the reserve during the fiscal year, thus increasing the reserve balance from
$891,000 as of June 30, 2014 to $4,389,470 as of June 30, 2015.
thMeasure E TUT revenues received during fiscal year
2014-2015, the second year in which that TUT was in effect, were rly allocated in
accordance with Measure E and approved guidelines.
FISCAL IMPACT:
There is no fiscal impact associated with the acceptance of the Measure E
TUT Oversight Committee report.
There is some impact on staff time related to the support of Measure E Transactions and Use Tax
Oversight Committee. This primarily consists of preparing financial reports, research and annual
meeting support.
RECOMMENDATION:
Accept report and adopt resolution.
ATTACHMENT:
RESOLUTION ACCEPTING THE MEASURE E TUT OVERSIGHT COMMITTEE REPORT
RESOLUTION NO.
14056
A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN RAFAEL
ACCEPTING THE ETRANSACTIONS AND USE TAX OVERSIGHT
COMMITTEE REPORT FOR FISCAL YEAR 2014-2015
WHEREAS,
on November 5, 2013, the voters of San Rafael approved a Transactions and
Emeasure, approved pursuant to enabling Ordinance No. 1913, became
effective on April 1, 2014, and established a 0.75% retail transaction and use tax for a term of 20
years; and
WHEREAS,
the enabling ordinance
oversight committee whose purpose is to review the collection and expenditure of tax revenues
collected under the authority of this ordinance; and
WHEREAS,
on November 10, 2015, the Committee rev
actual financial results for fiscal year 2014-2015 for Measure E revenues and expenditures,
submitted a report, and concluded in its report that Measure E funds were properly allocated and
spent.
NOW, THEREFORE, BE IT RESOLVED
, the San Rafael City Council accepts the
November 10, 2015 report from the Measure Ea copy of which is hereby attached
hereto as Exhibit A and by this reference made a part hereof.
I, ESTHER C. BEIRNE
, Clerk of the City of San Rafael, hereby certify that the foregoing resolution
was duly and regularly introduced and adopted at a regular meeting of the City Council of said City
held on Tuesday the 19th day of January, 2016, by the following vote, to wit:
AYES: COUNCIL MEMBERS: Bushey, Colin, Gamblin, McCullough & Mayor Phillips
NOES: COUNCIL MEMBERS: None
ABSENT: COUNCIL MEMBERS: None
ESTHER C. BEIRNE, City Clerk
W:\\Council Material\\Resolutions\\2016\\Measure E comm 14-15 report-reso.doc
Exhibit A
