DATE: September 18, 2024
TO: Council Budget and Finance Committee
FROM: Director of Finance
SUBJECT
Measure C Debt Analysis and Review
RECOMMENDATION
That the Committee reviews and receives the City’s Measure C (District Sales Tax) FY 2024 annual report.
SUMMARY
In 2014, the voters of the City of Hayward approved a ½ cent District Sales Tax (Measure C), which is a general tax that can pay for any services within the City’s General Fund. However, when the Council placed the measure on the ballot in 2014, they identified several priorities for the use of these funds based on issues identified by the community: police and public safety services; illegal dumping; litter control; graffiti abatement; and capital infrastructure projects. The prioritized capital projects included the construction of the City’s 21st Century Library and Community Learning Center; completion of fire station retrofits and improvements; rehabilitation and expansion of the Fire Station 6 and development of a regional fire training center; as well as extensive street improvements. Through Measure C funding, the City has not only completed several key capital infrastructure projects, but also allowed for continued support ongoing operational needs of the community.
This report provides an overview of Measure C revenue and expenses in FY 2024, as well as current financial projections for the funds.
ATTACHMENTS
Attachment I Staff Report
Attachment II 20-Year Financial Forecast Update