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Finance Highlights 2008 0917
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Finance Highlights 2008 0917
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6/5/2019 10:14:42 AM
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10/17/2008 1:24:08 PM
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CM City Clerk-City Council
CM City Clerk-City Council - Document Type
Committee Highlights
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9/17/2008
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_CC Agenda 2008 1020
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supports all general fund activities, may be more acceptable to voters. The following is a <br />discussion of how specific taxes did in the February election. <br />Transaction and Use Taxes (Sales Tax) <br />Five cities asked voters to approve increases to the sales and use tax rate, four were approved. <br />This information is shown in the table below: <br />Agency Name <br />Rate <br />S ecial/General <br />Voter <br />Approval <br />Results <br />City of Seaside, Measure R <br />1 cent <br />General <br />Majority <br />YES- 59.2% -Pass <br />City of El Cerrito, Measure <br />% cent <br />Streets <br />2/3 required <br />YES- 71.1 %-Pass <br />City of Reedl , Measure G <br />%i cent <br />Police/Fire/EMS <br />2/3 required <br />YES -73.9%- Pass <br />City of Sanger, Measure S <br />3/4 cent <br />Police/Fire/EMS <br />2/3 required <br />YES -70.5% -Pass <br />City of Lompoc, Measure T <br />%2 cent <br />Police/Fire/EMS <br />2/3 required <br />YES -55.2% -FAIL <br />In general, the measures were successful. The one city that failed to carry its measure, still <br />garnered some 55% support. Those that carried the 2/3 requirement did so with comfortable <br />margins. <br />Parcel Taxes <br />There were six non -school parcel tax measures on the February 2008 ballot. Parcel taxes carry a <br />2/3 voter approval requirement. Of the six agencies that placed measures before the voters only <br />two passed. For both passing measures, the parcel tax was earmarked for public safety. The <br />parcel taxes ranged from $24 per parcel to $200 per parcel. The two approved parcel taxes were <br />for $65 per parcel and $200 per parcel. <br />Revenue Options <br />Listed below are several revenue options that the Committee may wish to consider. While the <br />City has many revenue sources, they may be limited to cost recovery, such as licenses, permits <br />and fees, or are not within the City's control, such as grants. Consequently, the revenue options <br />considered in this report have the ability to generate additional revenues which can be used to <br />address the General Fund structural deficit discussed earlier. <br />Benefit Assessment Districts <br />In addition to reviewing the City's General Fund revenue base, staff would also like to bring to <br />the Committee's attention a long standing financing approach which is the use of benefit <br />assessment districts. Used across the State for many years, benefit assessment districts can <br />finance both capital acquisitions and public services. Benefit assessment districts are not subject <br />
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