CIAB/PUBLIC WORKS COMMISSION
REQUEST FOR ACTION
SUBMITTED TO: MEMBERS OF CIAB/PUBLIC WORKS COMMISSION
SUBMITTED BY: Chau Vu, Director of Public Works
PREPARED BY: April Maese, Management Analyst & Ana Tenorio, Principal Management Analyst
Subject:
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Approve Infrastructure Fund Annual Report for Fiscal Year 2024/2025
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Statement of Issue:
The City Charter requires an annual review and performance audit of the Infrastructure Fund, and a report of the findings to the City Council. This provides audited information on Fiscal Year 2024/25.
Financial Impact:
No funding is required for this action
Recommended Action:
recommendation
Motion to recommend to City Council approval of the Infrastructure Fund Annual Report.
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Alternative Action(s):
Direct staff to modify the Annual Report
Analysis:
The Infrastructure Fund was established in 2002, by City Charter Section 617. Per Section 617 (a), the originally intended revenue source for the Infrastructure Fund was a planned utility use tax on
natural gas purchased to generate electricity. However, this ballot measure failed. So, while the
Charter amendment created the fund, it was left with no source of revenue.
Other Charter requirements related to the fund are:
* Revenue placed in the Infrastructure Fund shall not supplant existing infrastructure funding.
* General Fund expenditures for infrastructure improvements and maintenance, subsequent to 2001, shall not be reduced below 15% of general fund revenues based on a five-year rolling average.
* The Citizen's Infrastructure Advisory Board/Public Works Commission conducts an annual review and performance audit of the Infrastructure Fund and reports its findings to the City Council prior to the City Council's adoption of the ensuing fiscal year budget.
The single substantial revenue source to the fund is General Fund excess fund balance per the
Financial Policy adopted in Fiscal Year 2006/07. The Policy was revised beginning in Fiscal Year
2009/10 to ...
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