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Oversight committee reviews Measure Y finances, flags $1.5M sales-tax decline and midyear deficit
Summary
The Oregon citizens oversight committee heard a fiscal report showing Measure Y revenues down roughly $1.5 million versus prior highs, six-month spending of about $3.4 million against a $9.4 million annual budget, and ongoing costs tied to the Cal Fire personnel contract.
The Oregon citizens oversight committee met Jan. 27 and received a midyear financial briefing from Ruth, the committee’s finance officer, who said the city’s Measure Y sales-tax revenue is trending below previous levels.
Ruth told the committee the fund’s annual expected Measure Y revenue is $6,500,000 and that, because July and August receipts are accrued to the prior year, only four months of revenue appear in the current-year report. She said sales-tax receipts have declined over two to three years and that the city is about $1,500,000 below prior peak levels. “So we have an annual expected budget of $6,500,000,” Ruth said.
Ruth reviewed expenditures: the Measure Y fund was budgeted for…
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