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REVIEW FISCAL YEAR 2017-18 YEAR-END MEASURE M REVENUES AND EXPENDITURES
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Summary
City ordinance (2016-06-07-1212) established a citizen advisory committee to annually review Measure M (Strong Communities) expenditures to confirm they are made in accordance with the Measure as approved by the voters and to make recommendations to the City Council regarding those expenditures.
Background
On August 21, 2017, the City Council approved (Resolution 2017-08-21-0801) an expenditure plan with revenue and expenditure projections for the 16-year lifespan of the Measure. Restoration of library and recreation services is a key element of the expenditure plan that includes increasing library and community center hours evenings and weekends.
As part of the City’s 2017-18 fiscal year budget development process, City Council authorized the Strong Communities budget on June 20, 2017. Total budgeted revenues are $10.2 million, and the original expenditure budget was $4.3 million. The City Council amended the FY 2017-18 Strong Communities budget on August 21, 2017, to add $154,060 for the micro-library program and local arts initiatives for a total budget of $4.4 million.
Present Situation
Attached for review by the Measure M Oversight Committee is the year-end financial report for the 2017-18 fiscal year.
Revenues received as of June 30, 2018, were $10,430,105. Also attached is the California Department of Tax and Fee Administration’s sales tax revenue report for the 2018 Second Quarter (Attachment B). The report dated 8/21/18 shows full second quarter Strong Communities gross revenues of $2,315,713.05 under add-on code 537.
Expenditures at the end of the fiscal year were $3,063,407. Expenditures were 69% of the budget. Salaries and benefits were $1,449,746 of the total year-end expenditures with approximately 43% for Library programs and 53% for Recreation programs. The fourth quarter of the fiscal year experienced a significant increase in salary and benefit costs as authorized positions were filled for most of the quarter.
Attachment A - Measure M FY 2017-18 Year-End Report
Attachment B - Measure M Revenues CDTFA 2018 Second Quarter Report