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Type:
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Staff Report
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Status:
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Agenda Ready - Administrative Business
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On agenda:
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4/2/2025
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Final action:
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Title:
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Informational Report on Measure W fund balance and expenditures for FY 2024-25. (Karen Chang, Director of Finance)
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Title
Informational Report on Measure W fund balance and expenditures for FY 2024-25. (Karen Chang, Director of Finance)
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RECOMMENDATION
Recommendation
This report is informational and requires no formal action from the Committee.
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BACKGROUND/DISCUSSION
On November 3, 2015, South San Francisco residents approved a half-cent sales tax by an overwhelming majority. The adoption of Measure W ensures that the City of South San Francisco will be able to maintain and enhance locally controlled City services that the community cares about and has come to expect - including neighborhood police patrols, 911 response, programs for seniors & disabled residents, crime and gang suppression programs, street maintenance and pothole repair, youth/teen educational and recreational programs, a police operations center that meets earthquake safety codes, and other essential city services.
The voter-approved half-cent sales tax (Measure W) went into effect on April 1, 2016. Since that time, the sales tax proceeds have been accounted for separately from the City’s General Fund to track the commensurate revenues and expenditures.
Major projects currently funded by Measure W are:
1. Community Civic Campus Program
a. Police Operations & 911 Dispatch Center (pf1707)
b. Library, Parks and Recreation and Community Theater/Council Chamber (pf2103)
2. Orange Memorial Park Project
a. Multi-Use Sports Fields
b. Aquatic Center
c. Park Playground
d. Park Bridges
3. Paving Program
a. Used to augment City efforts towards street maintenance and pothole repairs
A. MEASURE W FUND BALANCE THROUGH FEBRUARY 28, 2025
The following is a summary of Measure W revenues and expenditures since its inception through February 28, 2025:
Table 1: Measure W Fund Balance Summary
|
Fiscal Year Ended |
Cumulative Total as of June 30, 2022 |
FY 22/23 |
FY 23/24 |
FY 24/25 (7/1/24-2/28/25) |
Total as of February 28, 2025 |
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Total Revenues |
$74,670,411 |
$15,618,697 |
$15,773,938 |
$7,543,308 |
$113,606,354 |
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Expenditures |
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Salaries & Benefits |
547,652 |
287,295 |
166,630 |
206,676 |
1,208,253 |
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Services & Supplies |
275,622 |
- |
- |
- |
275,622 |
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Transfers Out to Capital Improvement Fund |
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|
|
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- |
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Civic Campus |
43,662,410 |
2,088,941 |
3,351,362 |
(14,013) |
49,088,700 |
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Street Paving Program |
6,870,699 |
44,071 |
6,475 |
35,300 |
6,956,545 |
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Debt Service |
11,462,188 |
8,289,450 |
8,286,750 |
2,821,567 |
30,859,955 |
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Total Expenditures |
$62,818,571 |
$10,709,757 |
$11,811,217 |
$3,049,530 |
$88,389,075 |
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Revenue Less Expenditures |
$11,851,840 |
$4,908,940 |
$3,962,721 |
$4,493,778 |
$25,217,279 |
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FUND BALANCE |
$11,851,840 |
$16,760,780 |
$20,723,501 |
$25,217,279 |
$25,217,279 |
On February 12, 2025, Reso 22-2025 was approved by the City Council to eliminate the $3 million transfer from Measure W fund to General Fund. Also, the budget for FY 2024-25 sales tax revenue was adjusted to $14.5 million to reflect the latest sales tax projection trend. As indicated in the table above, the fund balance for Measure W as of February 28, 2025 was $25,217,279. The fund balance as of June 30, 2024, was $20,723,501.
B. FY 2024-25 REVENUES (July 1, 2024 - February 28, 2025)
The City received $7.54 million in Measure W sales tax as of February 28, 2025. There is usually a two-month lag in sales tax collection, so the amount represents revenues from July through December 2024.
C. FY 2024-25 EXPENDITURES (July 1, 2024 - February 28, 2025)
The following is a summary of expenditures as of February 28, 2025:
Table 2: Expenditures
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FY 24/25 Expenditure Budget |
FY 24/25 YTD Actual |
FY 24/25 Available Balance |
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Salaries and Benefits |
$397,499 |
$206,676 |
$190,823 |
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Civic Campus Construction (pf1707, pf2103) |
8,759,765 |
(14,013) |
8,773,778 |
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Paving Program (st2104, st1903, st2302) |
1,079,756 |
35,300 |
1,044,456 |
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Debt Service |
12,970,851 |
2,821,567 |
10,149,284 |
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Total Expenditures |
$23,207,871 |
$3,049,530 |
$20,158,341 |
Ongoing Capital Project Funds appropriated in prior years by Council but unspent will be carried over as appropriated funds to be spent in FY 2024-25 or future years.
CONCLUSION
As of February 28, 2025, $7.54 million of Measure W sales revenue has been recorded by the City for Fiscal Year 2024-25 and $3.04 million has been expended.
Attachments:
1. Revenue Detail report - FY 2024-25 (As of February 28, 2025)
2. Expenditure Detail report - FY 2024-25 (As of February 28, 2025)
3. Power Point Presentations
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