TO: HONORABLE CHAIR AND MEMBERS OF THE TRANSACTION AND USE TAX OVERSIGHT COMMITTEE
FROM: Javier Carcamo, Finance Director
PREPARED BY: Evan Crockett, Management Analyst – Special Projects
SUBJECT:
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District Sales & Use Tax (Measure T) Budget to Actual Report for FY 2025/26
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RECOMMENDATION
recommendation
Receive and File.
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PRIOR ACTION/VOTE
On July 17, 2018, the City Council adopted Resolution No. 18-3953, proposing an ordinance enacting a transaction and use tax be placed on the November 6, 2018 ballot (Vote 5-0).
On December 18, 2018, the City Council adopted a Resolution declaring the results of the November 6, 2018, General Election, including therein adoption of Ordinance No. 540-18 enacting a Transaction and Use Tax (Vote 5-0).
On February 5, 2019, the City Council adopted a Resolution establishing an advisory Transaction and Use Tax Citizens Oversight Committee (Vote 5-0).
CITY COUNCIL GOAL
Maintain a high performing organization that values fiscal sustainability, transparency, accountability and organizational efficiency.
BACKGROUND
I am pleased to present the Transaction and Use Tax (Measure T) oversight report for the fiscal year ending June 30, 2026. The Advisory Transaction and Use Tax Citizens Oversight Committee provides oversight of Measure T district sales tax revenues and expenses. This Measure T Oversight Report covers the fiscal year from July 1, 2025, through June 30, 2026. This report includes a recap of all Measure T financial activities and accomplishments. As of the date of this report, the independent external audit for Fiscal Year (FY) 2025/26 has not been concluded. As a result, the actual amounts are subject to change should accounting adjustments be necessary prior to finalizing the audit.
Revenues
The adopted and amended FY 2025/26 total revenue projection is $28.7 million and $30.1 million, respectively. The City's sales tax consultant provided updated projections throughout the fiscal year base...
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