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Receive public comments on the usage and allocation of unallocated sales tax revenue received from July 2020 to June 2024. The unallocated funds total $8,425,974.94.
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INITIATOR: Rebecca Johnson, Finance Director
STAFF INFORMATION SOURCE: Rebecca Johnson, Finance Director
BACKGROUND: Resolution of Intent No. 24-114, which was the Resolution of Intent in effect through June 2024, requires the City Council to receive input from citizens at no less than two open meetings on the usage and allocation of 2019 Propel Sales Tax monies received above $23,500,000 within a single fiscal year. Excess revenues to be allocated to the Resolution of Intent by the City Council are listed in the chart below:
EXHIBIT: Resolution No. 24-114; 2024 Monthly Sales Tax Analysis
KEY ISSUES: Funding the overages required for 2019 Propel CIP projects
FUNDING SOURCE: 2019 Propel (2.125%) Sales Tax
STAFF RECOMMENDED COUNCIL ACTION: Receive comments only; no action required.