City of VisaliaMeasure N Independent Accountants’ Report (July1, 2023– June 30, 2024)
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.
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.
Comments and recommendation received by Sales Tax Oversight Board.
Two public hearings are held at regular Council Meetings.
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 Independent Accountants’ Report on Applying Agreed-Upon Procedures Independent Accountants’ Report on Applying Agreed-Upon Procedures An Independent Auditor will annually review tax revenues received and expenditures from the measure, to ensure compliance with the Ballot Measure, Program Guidelines and Expenditure plans.
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 N FY 23/24 Report
Report Completed by M. Green and Company for Fiscal Year ending June 30, 2024.
There were two findings:
A Squad vehicle and vehicle replacement costs were inadvertently booked to the incorrect fund. The error was corrected in FY 23/24.
A wire for an invoice in the amount of $20,361 was not accrued at year end. The year end process to accrue wires has been updated.
The Measure N Oversight Committee reviewed the report for fiscal year 23/24 on January 9, 2025. 5 Measure NBudget to Actuals Comparison (ACFR Document Pg 32 & 36)
Current and Future Projects:
Measure N FY 23/24 – 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, 2024Action TonightNo formal action is required today. Council is to receive and review the report.Questions?