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Corte Madera staff warn sales-tax forecast may be $1.1 million below earlier estimates
Summary
Finance staff told the council that HDL’s forecast for Bradley‑Burns sales tax was revised from about $8.5 million to about $7.4 million for the year, producing an expected shortfall of roughly $1.1 million; council members asked for clearer dollar figures in future reports.
Council members pressed staff during the May 5 meeting for clearer dollar figures after the town’s sales‑tax consultant revised the Bradley‑Burns forecast. Finance staff said HDL reduced the year forecast from approximately $8.5 million to about $7.4 million, a downward revision in the neighborhood of $1.1 million.
Finance staff explained that actual year‑to‑date receipts are tracking close to last year and that a late receipt of roughly $450,000 was attributed back to the prior year, which complicated the year‑to‑date presentation. Council members said reports that state only a downward revision without dollar amounts lack public transparency and asked staff to include specific dollar impacts in future reports.
Staff said it would provide a clearer breakout of the March vs. February revisions and bring a high‑level draft budget to a future meeting while preparing any necessary budget amendments for later action.
