Agenda Item No. 13
CITY OF YUCAIPA
AGENDA REPORT
TO: Honorable Mayor and City Council
FROM: Phil White, Director of Finance
FOR: City Council Meeting of November 13, 2024
SUBJECT: Measure S Update
RECOMMENDATION:
That the City Council receive an update on the budgetary impacts of the preliminary results of the Measure S vote.
BACKGROUND/DISCUSSION:
While the results posted on the San Bernardino County Registrar's website are unofficial, it appears that Measure S, which establishes a one -cent transactions and use tax, will be successful.
Measure S represents a substantial component of the City's financial strategy to address the deficit.
In the likely event that Measure S is successful, Yucaipa's preferred option for service levels will become clear. In the short-term, this means the City will have sufficient resources to allocate to address priorities and accomplish goals (next year's operating budget will be balanced with existing service levels).
Sustained financial stability requires forecasting long-term revenues and expenses, analyzing the economic and fiscal environments and determining the fiscal impact of future priorities and goals.
This information is being compiled into a Long -Term Financial Plan (LTFP). The LTFP ensures that the City is financially in organizational alignment with the strategic plan.
A municipal strategic plan is a roadmap for a city's future, outlining goals, projects, and metrics for success. It's a tool that local governments use to anticipate challenges, set priorities, and ensures accountability to the community. Identifying the City's mission and priorities requires involvement from the community, staff and the City Council. The development of the strategic plan takes considerable time, but offers numerous benefits, including:
Prioritizing resources
Allocates resources to the programs and services that matter most to the community.
Enhancing decision making
Ensures that all actions and initiatives are aligned with the municipality's goals.
Improving operational efficiency
Reduces ambiguity and ensures that all efforts are coordinated.
Being proactive
Helps the City anticipate challenges and adapt quickly.
Creating community trust
Builds community trust by showing how the activities and actions of the City benefit the public interest.
FISCAL IMPACT:
The recommendation does not result in a fiscal impact.
Approved by: ��'