Measure BP receipts and commitments reported; council approved $6,000 addition to sports‑complex design fee

City finance staff updated the Baldwin Park Stakeholders Oversight Committee on Measure BP receipts, investments and program commitments during the March 11 meeting.

Staff reported $811,698 in Measure BP sales‑tax receipts for February and said the Measure had generated roughly $230,000 in interest earnings in the year ended Dec. 31, 2024. Staff explained the city places Measure BP funds in a mix of short‑term certificates of deposit, money‑market and other low‑risk instruments to earn interest while keeping funds available for scheduled project payments.

“As of February, we received another $811,698,” Rose (finance staff) said, adding that the office staggers maturities so some funds remain liquid for imminent payables. Staff told the committee that Measure BP had committed about $3,988,000 to 10 programs to date.

Committee members asked whether funds were liquid and whether there were penalties for early withdrawals; staff said accounts were structured with a mix of liquid and short‑term instruments to avoid forced early‑redemption penalties whenever possible.

Members also asked about an overrun on the sports complex architectural fee. Staff explained the council approved an additional $6,000 after final pricing, increasing the originally requested $80,000 to a total of $86,000; staff said the final contract was executed at the council level because of timing between committee and council actions.

Committee members had no objection to the update and were reminded the committee will receive routine monthly financial updates on Measure BP.