Measure n 2022/23 & 2023/24Proposed budget
May 2, 2022
Measure n
½ cent Sales Tax Override to provide essential City services (police, fire, recreation, parks, and roads) Uses a detailed 10 year plan
Measure n Requirements
Revenues:
10% of budgeted revenues must be maintained in Uncertainty Fund for a fiscal emergency; 10% of budgeted revenues must be deposited into the following categories:
2% Youth Programs
8% Maintenance and Emerging Needs
Expenditures:
Money shall not be used for debt service payments;
Expenditure plan and amendments must be approved as outlined in the plan.
Measure n – Budget Process
Tonight’s meeting starts the 22/23 & 23/24 budget process for Measure N funds which requires the following actions to adopt the spending plan:
City Manager makes recommendation to City Council and makes changes as requested; Comments and recommendation received by Sales Tax Oversight Board; Two public Hearings are held at regular Council Meetings to consider expenditure plan
Measure n – Projected fund balance
Based on the measure’s requirements, the revenue/expenditures are tracked in 4 separate funds:
22/23 Proposed Budget
23/24 Proposed Budget
Tonight’s Action
Approve 22/23 & 23/24 budget, with recommended changes, and continue with budget process as outlined below:
May – Meet with Measure N Oversight Committee
June 6th – Hold 1st Public Hearing
June 20th – Hold 2nd Public Hearing
As directed by Council, staff will return with policies for Measure N surplus and remaining emerging needs funding.
Questions?