Title
Informational Report on Measure W fund balance and expenditures for FY 2024-25 (Karen Chang, Finance Director)
label
RECOMMENDATION
Recommendation
This report is informational and requires no formal action from the Committee.
Body
BACKGROUND/DISCUSSION
On November 3, 2015, South San Francisco residents approved a half-cent sales tax by an overwhelming majority. The approval 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 OCTOBER 31, 2024
The following is a summary of Measure W revenues and expenditures since its inception through October 31, 2024:
Table 1: Measure W Fund Balance Summary
Fiscal Year Ended
Cumulative
Total as of
June 30, 2022
FY 22/23
FY 23/24 (Preliminary)
FY 24/25 (7/1/24-10/31/24)
Total as of October 31, 2024
Total Revenues
$74,670,411
$15,618,697
$15,773,938
$2,305,360
$108...
Click here for full text