City of VisaliaMeasure N Audit
For Fiscal Year
July 1, 2021 - June 30, 2022
Compliance Audit Completed by M. Green and Company for Fiscal Year ending June 30, 2022.
No formal action is required today. Just receive and review report.
Measure N – Compliance Audit
Audit Finding for Fiscal Year 21/22
Park maintenance invoice was miscoded to tree maintenance which took it overbudget.
City Staff made the coding correction before the audit was completed. 3 The Measure is a 1/2 cent Sales Tax for essential City services such as Police, Fire, Recreation, as well as maintenance of parks, roads, and City facilities.
The Measure uses a detailed 10 year plan.
Measure N was approved by the voters November 2016 and became effective April 1, 2017.
This audit is for July 1, 2021 to June 30, 2022.
Measure N:
Revenues:
10% of budgeted revenues go to the Uncertainty Fund for a fiscal emergency. 10% of budgeted revenues go to the following programs:
2% Youth Programs
8% Maintenance and Emerging Needs
Expenditures:
Money shall not be used for debt service payments
Annual expenditure plan must be approved by Council after the following has occurred:
City Manager makes a 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 Requirements:
Sales Tax Oversight Board
Board consists of 11 members that are appointed as specified in the plan.
Reviews Measure N budgets prior to adoption
Reviews Compliance Audits
Annual Audit
An Independent Auditor will annually review tax revenues received and expenditures to ensure compliance with the expenditure plans and with prudent, established accounting regulations and practices.
Effectiveness Review
Review the progress of the Measure N Plan and the continuing need for the sales tax measure at a City Council meeting before April 1, 2025, and every 8 years thereafter.
Measure N Requirements (cont.):
Measure NActuals:
Current and Future Projects:
Measure N FY 21/22 – Fund Balance
Measure N Audit SummaryThe Independent Accountants’ report confirmed that Measure N funds are in accordance with the Ballot Measure, Program Guidelines and Expenditure Plan for Fiscal Year ended June 30, 2022.Action TonightNo formal action is required. Just review and accept report.Questions?