TO: Distict Parcel Tax Fiscal Oversight Committee
FROM: Salvador Llamas, General Manager/Chief Executive Officer
SUBJECT: FY 2024-25 Measure VV/C1 Financial Statement
ACTION ITEM
RECOMMENDED ACTION(S):
Title
Review the Measure VV/C1 Financial Statement and consider the adoption of Resolution No. 25-001 determining that the Measure VV/C1 funds collected during the 2024-25 Fiscal Year have been appropriated and expended in Special Transit Service District No. 1 for operation and maintenance activities.
Body
Staff Contact:
Chris Andrichak, Chief Financial Officer
BUDGETARY/FISCAL IMPACT:
There are no budgetary or fiscal impacts associated with this report.
BACKGROUND/RATIONALE:
The parcel tax was initially enacted in 2002. Proceeds from this special tax can only be used to fund the operations and maintenance of bus service within District 1. In 2008, the voters in District 1 approved Measure VV, which increased the tax to $96 per year per parcel for a 10-year period.
In 2016, the voters in District 1 approved Measure C1, which extended the expiration date of the Parcel Tax until 2039. Measure VV proceeds are specifically designated for the operation and maintenance of bus services and this revenue is essential to the sustainability of operations in District 1.
Measure VV funds for Operations and Maintenance Expenses by County and Special Transit Service District for the fiscal year ending June 30, 2024, are shown in Attachment 2 - Measure VV Schedules with Independent Auditor's Report
Revenue Collection History for Measure VV/C1
FY 20-21
FY 21-22
FY 22-23
FY 23-24
FY 24-25
Measure VV/C1
$30.1M
$29.8M
$29.9M
$30.0M
$30.1M
On November 12, 2008, the Board of Directors adopted Resolution 08-064 establishing the Alameda-Contra Costa Transit District Parcel Tax Fiscal Oversight Committee. The Committee is required to meet at least once per year to determine that funds generated by the District's parcel tax measures have been expensed in accordan...
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