Agenda Item Wording:
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Review and discuss the proposed Fiscal Years 2022/23 & 2023/24 Measure N budget and continue with the amended expenditure plan previously approved.
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Deadline for Action: 6/30/2022
Submitting Department: Finance and Technology Services
Contact Name and Phone Number: Renee Nagel 713-4375, Amee Swearingen 713-4170
Department Recommendation:
City Council review and provide comments on the City Manager's recommended Measure N budgets for FY 2022/23 and 2023/24.
The Measure N Budget has to be adopted by June 30, 2022 to be able to spend in FY 2022/23. The City does a biannual budget and is currently in the process of preparing a two-year budget to bring forward to Council In June for adoption. In order for staff to incorporate the Measure N budget in with the rest of the City's budget, staff has prepared a recommended budget for FY 2022/23 and FY 2023/24 for Council's review. If approved, staff will then continue with the Measure N budget process as outlined in the report.
A copy of the proposed budget is available at the City Administration office, 220 N. Santa Fe, during normal work hours. The proposed budget can also be reviewed at https://www.visalia.city/depts/finance/proposed_budget/default.asp.
Background Discussion:
In November of 2016, the voters of Visalia passed a 1/2 cent Sales Tax Override, Measure N - The Visalia Essential City Services Measure. Sales Tax from Measure N will provide for essential city services such as police and fire, as well as maintenance of parks and roads. The measure uses a detailed, 10 year plan which includes hiring of personnel, construction of capital projects and equipment purchases.
As part of the measure, Council adopted an Accountability Ordinance (Ordinance 16-21) to
establish accountability measures as outlined:
Revenues:
* 10% of budgeted revenues must be deposited in an Uncertainty Fund. Money can only be accessed during a fiscal emergency;
* 10% of budgeted revenues must be...
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