Corte Madera sales-tax oversight committee approves FY2023–24 annual report, reviews midyear revenues and five-year capital outlook

The Corte Madera Sales Tax Citizens Oversight Committee on March 19 approved the townsales tax annual report for fiscal year 202324 and reviewed revenue and expenditure figures through Jan. 11, 2025, and a five-year capital plan that shows several multimillion-dollar infrastructure needs.

Town Manager Adam Wolf told the committee that "the sales tax fund beginning balance as of 07/01/2023 was $8,438,394." He reported that "revenues over the course of fiscal year 2324 were about $4,280,000" (including a roughly $6,000 grant reimbursement), and that expenditures for FY 202324 totaled about $4,260,000, leaving an ending balance of about $8,618,000. By town policy, Wolf said, $2.5 million of that balance is held as a reserve, leaving roughly $6 million available going into FY 202425.

The annual report summarizes how the sales tax has been used and itemizes major expenditures. Wolf said the single largest use in FY 202324 was flood control, mainly work on the San Clemente pump station rehabilitation and pipeline repair, which amounted to roughly $2 million and represented about half of the year24s expenditures. Other FY 202324 costs included completion-related…