To: Board of Supervisors
From: Monica Nino, County Administrator
Report Title: Measure X Financial Updates
?Recommendation of the County Administrator ? Recommendation of Board Committee
RECOMMENDATIONS:
RECEIVE report on Measure X revenues and expenditures, and CONSIDER reallocating selected Measure X unspent balances to the Measure X unallocated funding pool
FISCAL IMPACT:
The Measure X revenues and expenditure appropriations under review have already been budgeted by prior Board of Supervisors actions; no net fiscal impact would be anticipated by reallocating prior appropriations.
BACKGROUND:
On November 3, 2020, voters in Contra Costa County approved Measure X, a Countywide, 20-year, half-cent sales tax. The ballot measure language stated the intent of Measure X as "to keep Contra Costa's regional hospital open and staffed; fund community health centers, emergency response; support crucial safety-net services; invest in early childhood services; protect vulnerable populations; and for other essential county services."
Between Fiscal Years 2021-2024, a total of $353.2M has been budgeted for anticipated Measure X revenues, and $286.8M in actual revenues has been collected through August 2023. There is a remaining revenue requirement of $66.5M needed to be collected by fiscal year end to fully fund the associated planned expenditures. Of the $353.3M in Measure X budgeted expenditure appropriations approved by the Board to date, $348.5M has been allocated to various one-time projects and ongoing programs, leaving an unallocated balance of $4.7M in ongoing appropriations available to be allocated. Actual revenues are projected by the County's sales tax consultant to total $386.1M by FY23-24 year-end, leading to a projected surplus of one-time funds totaling $32.8M that will also ultimately be available for allocation. The total actual expenditures to date for Measure X allocations is $77.5M.
As part of the Measure X status updates and review of financial...
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