Agenda Item Wording:
title
Review of Annual Measure T Compliance Audit for fiscal year ending 6/30/21.
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Deadline for Action: 1/18/2022
Submitting Department: Finance and Technology Services
Contact Name and Phone Number: Kari Williams 559-713-4298
Department Recommendation:
That the City Council accepts the Measure T Compliance Audit from M. Green and Company for the Fiscal Year ending June 30, 2021.
Background Discussion:
The City, as part of the voter approved Measure T sales tax override, must have an annual audit of the uses of Measure T funds. M. Green and Company has performed this audit and it is now being presented to Council.
This audit did not include financial management and accounting practices. It is only to ensure that Measure T funds are used in accordance with the Ballot Measure, Program Guidelines and Expenditure Plan for fiscal year ended June 30, 2021. The financial management and accounting practices are included in the City's annual Audit which is also being presented tonight (January 18, 2022).
This is a review of the audit and is not intended as a discussion of plan adjustments or other operational issues. Those adjustments should be considered as part of a separate discussion.
In March of 2004, the voters of Visalia passed a 1/4 cent Sales Tax Override, Measure T, to provide additional police and fire personnel and services to protect our community. Program guidelines were implemented as part of the Measure T plan to ensure that the public would be well informed of the progress and process of Measure T. These guidelines are outlined as follows:
Revenue Requirements:
* 60% of revenues received must be deposited into a Measure T Police fund and 40% into the Measure T Fire Fund.
o An Economic Uncertainty Fund will be established for both Measure T funds. The Economic Uncertainty Funds require 25% of the actual sales tax collected to be deposited to maintain operat...
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