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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Measure T Biannual Report for Fiscal Year 2025/26
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ABSTRACT
Providing financial update to the Transaction and Use Tax (Measure T) Oversight Committee for July 2025 through December 2025, representing the first half of Fiscal Year (FY) 2025/26. The purpose of this report to the Measure T Oversight Committee is to present information on revenues, expenses, proposed budget adjustments, expense highlights, and operating sustainability reserves associated with the Measure T Fund. In accordance with the resolution that established the Advisory Transaction and Use Tax Citizens Oversight Committee, Measure T revenue and expense information will be used by the Measure T Committee to present to City Council.
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 to be placed on the November 6, 2018, ballot (Measure T) (Vote: 5-0).
On December 18, 2018, the City Council adopted a Resolution declaring the results of the November 6, 2018, General Municipal 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 Resolution No. 19-4027 entitled: A Resolution of the City Council of the City of Murrieta, California Establishing an Advisory Transaction and Use Tax Citizens Oversight Committee (Vote: 5-0).
STRATEGIC ALIGNMENT
Maintain a high performing organization that values fiscal sustainability, transparency, accountability and organizational efficiency.
DISCUSSION
In November 2018, Murrieta voters passed ballot Measure "T," a one-cent Transaction and Use Tax. Measure T is a general tax revenue source for the pu...
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