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Finance director: baseline sales-tax slipping, Measure B boosts overall collections; Measure F effective April 1
Summary
The finance director told the board that underlying sales-tax receipts are down year over year but the addition of Measure B revenue has increased total sales-tax collections; staff said Measure F (a roads tax) became effective April 1 and will appear in future reports.
Jeff, the city's finance director, presented the board with local sales-tax revenue through Dec. 1, 2024 and said the figures differ slightly from the midyear report because of timing of receipts from the state.
"In general, sales tax is declining from prior years, but because we have the addition of Measure B revenue, our total sales tax is growing," Jeff said, noting the apparent paradox stems from a new revenue source added to an otherwise declining baseline.
Staff also told the board there was no Measure F revenue received as of Dec. 31; Measure F (a local sales tax dedicated to roads) became effective April 1 and will be reported at the next meeting cycle. Board members asked whether online marketplace sales (for example, purchases from large online retailers) can be segregated in reporting; Jeff said he would work with HDL, the city's sales-tax consultant, to explore presenting an "online sales" bucket and that the HDL packet includes charts that break changes out by business type, county and state for context.
Board members discussed whether quarter-to-budget comparisons would be misleading because of state timing lags; staff suggested using prior-quarter or prior-year comparisons instead and committed to continue providing sector charts in the HDL report.
