Title
Staff Report for Resolution Approving the Measure Z Citizens Oversight Committee's Annual Report on Measure Z Sales Tax for Fiscal Year 2012-13
Staffreport
SUMMARY AND RECOMMENDATIONS
On November 2, 2010, the Measure Z quarter-cent sales tax was approved by more than 60% of voters. The ballot language assured voters that Measure Z receipts would provide revenues to cover vital City services, expire March 31, 2018, be subject to annual audits and be reviewed by a citizens' oversight committee. It is recommended that the City Council accept the annual report developed by the Measure Z Citizens Oversight Committee and use this information to advance the discussion of revenue sustainability for the City.
BACKGROUND
On November 2, 2010, the Measure Z quarter-cent sales tax was approved by more than 60% of voters. The ballot language assured voters that Measure Z receipts expire March 31, 2018, are subject to annual audits and are reviewed by a citizens oversight committee.
On April 2, 2012, the City Council passed a resolution authorizing the creation of the Measure Z Citizens Oversight Committee. The City Council defined the scope of responsibility and duties of the Oversight Committee to include developing an annual report on the following:
* Amounts of Transaction and Use Tax revenue generated by Measure Z
* Use of the tax revenue and the impact on the City operating budget including a statement on the impact of the revenue in reducing the amount of cuts resulting from addressing the budget shortfall
* Statement of expenditures funded by Measure Z revenues
* Impacts of Measure Z on local business competitiveness and the collection of Sales Tax revenues
* Measure Z public information and transparency efforts
* Participation in developing a revenue sustainability plan and strategy
On December 3, 2012, the City Council approved the five-member Committee consisting of City leaders chosen from commercial and non-profit organization...
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