City Council Agenda
|
Memo to: |
Manteca City Council |
|
|
|
|
From: |
Shay Narayan, Director of Finance |
|
|
|
|
Prepared by: |
Lana McBroom, Budget Manager |
|
|
|
|
Date: |
December 17, 2024 |
|
|
|
|
Subject: |
Senate Bill 165 - Local Agency Special Tax and Bond Accountability Act Annual Report |
Recommendation:
title
Receive and File the Senate Bill 165 - Local Agency Special Tax and Bond Accountability Act Annual Report.
body
Background:
Senate Bill 165 (SB 165) was filed with the Secretary of State on September 19, 2000, and enacted the Local Agency Special Tax and Bond Accountability Act. This Act requires that any local special tax or local bond measure subject to voter approval contain a statement indicating the specific purposes of the special tax, require that the proceeds of the special tax be applied to those purposes, require the creation of an account into which the proceeds shall be deposited, and require an annual report containing specified information concerning the use of the proceeds.
SB 165 only applies to any local special tax measure or local bond measure adopted on or after January 1, 2001, in accordance with Section 50075.1 or Section 53410 of the California Government Code. Some of the requirements of SB 165 are satisfied within and upon the formation of the Special Tax District(s) and others are satisfied through annual reports.
The attached report intends to comply with Section 50075.3 or Section 53411 of the California Government Code that states:
The chief fiscal officer of the issuing local agency shall file a report with its governing body no later than January 1, 2002, and at least once a year thereafter. The annual report shall contain all of the following:
(a) The amount of funds collected and expended.
(b) The status of any project required or authorized to be funded as identified in subdivision (a) of Section 50075.1 or Section 53410.
The attached report provides the required information for (a) and for (b) if and where applicable.
Fiscal Impact:
There are no direct fiscal impacts from receiving this report.
Documents Attached:
1. Attachment 1 - SB 165 Annual Report for FY 2023-24