Agenda Item Wording:
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Measure T District Tax Amendment and Recertification - Amend the Measure T plan and recertify the plan for FY 2024/25.
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Deadline for Action: 6/30/2024
Submitting Department: Finance and Technology Services
Contact Name and Phone Number: Renee Nagel, 713-4375 renee.nagel@visalia.city Amee Swearingen, 713-4170 amee.swearingen@visalia.city
Department Recommendation:
It is recommended that the Council recertify the Measure T expenditure plan for the new budget year July 1, 2024 to June 30, 2025 (FY 2024/25) as required per the plan to be done annually; amend the plan to change the Economic Uncertainty Fund calculation from 25% of budgeted revenues to 30% of operating expenditures; and to continue with the existing plan until all staffing levels and projects have been met.
Background Discussion:
In 2004, City of Visalia voters approved a measure to increase sales tax by 1/4 cent. This was known as Measure T and the sales tax revenues generated by the voter-approved measure are earmarked for public safety. The sales tax is shared 60% police and 40% fire. Thus, the City maintains two funds: Measure T - Fire and Measure T - Police. The measure uses a detailed, 20-year plan which includes hiring of personnel, construction of capital projects, and equipment purchases. The plan requires each fund to maintain an economic uncertainty fund of 25% of budgeted sales tax revenues. This is to be used if revenues do not cover expenditures.
Annually the plan is required to get recertified by Council and every eight years a review of the sales tax measure and the need to continue it. The next effectiveness review is schedule for January 2029. For the annual recertification, staff brings all the completed elements and a projection of both the funds revenues and expenditures. Plan elements implemented to date are as follows:
* Two Police substations built
* 23 Police Officers hired and ve...
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