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Motion to accept Measure W Citizens’ Oversight Committee report independently verifying Fiscal Year 2022-23 Measure W Revenues and Expenditures. (Karen Chang, Director of Finance; and Sharon Ranals, City Manager)
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RECOMMENDATION
Recommendation
It is recommended that the City Council move to accept the Measure W Citizens’ Oversight Committee report independently verifying Fiscal Year 2022-23 Measure W Revenues and Expenditures.
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BACKGROUND/DISCUSSION
In November 2015, South San Francisco residents approved Measure W, a half-cent transaction and use tax. Pursuant to the Measure W resolution adopted by the City Council, members of the South San Francisco community were appointed to the Measure W Citizens’ Oversight Committee (COC), and the City Council adopted the COC bylaws. The COC bylaws establish that the COC will periodically report to the City Council regarding the collection and expenditure of Measure W revenue. The bylaws direct the COC to meet with the City’s independent auditor to receive the audit findings for the prior fiscal year’s collection and expenditure of revenue from the tax authorized by Measure W and to report in writing to the City Council regarding the accuracy of the auditors’ findings regarding Measure W revenues and expenditures.
During the 2022-2023 fiscal year (FY), COC conducted regular bi-monthly meetings to review Measure W revenues and expenditures. COC also received periodic updates from the project teams on Measure W’s project status.
On December 6, 2023, the City’s auditor, Maze & Associates (Maze) provided the COC an overview of the audit and the preliminary Measure W financial results.
On February 7, 2024, the City provided a copy of the FY 2022-23 Annual Comprehensive Financial Report to COC for review. On February 7, 2024, the COC met and adopted a resolution acknowledging receipt of the FY 2022-23 Annual Comprehensive Financial Report and approving a memorandum to the City Council independently verifying use of Measure W funds.
The COC report, in the form of the COC resolution and memorandum (Attachment 1), independently verifies that the City received $15.6 million in Measure W revenues and spent $10.7 million in expenditures in accordance with the terms of Measure W for FY 2022-23. The COC’s report provides independent verification regarding the independent auditor’s findings related to whether the funds collected are being spent in accordance with the terms of Measure W.
CONCLUSION
On February 7, 2024, the COC adopted a resolution acknowledging receipt of the FY 2022-23 Annual Comprehensive Financial Report and approving a memorandum to the City Council independently verifying the use of Measure W funds. The FY 2022-23 Annual Comprehensive Financial Report reviewed by the COC is also attached (Attachment 2). Staff recommends that the City Council move to accept the Measure W Citizens’ Oversight Committee report independently verifying FY 2022-23 Measure W revenues and expenditures.
Attachments:
1. Measure W Oversight Committee resolution independently verifying use of Measure W funds
2. FY 2022-23 Annual Comprehensive Financial Report