To provide the accountability in spending that residents demand, new revenue from the sales tax increase has been placed in a separate and trackable budget – setting an accountability precedent for future administrations. Using the Funding Our Future dashboard, residents will be able to track how new revenue is being spent; which projects and programs are being implemented, and how progress is being made on City goals.
If voters approve the GO bond in November, street reconstruction projects and expenditures will also be tracked on the dashboard.
On June 12, 2018, the City Council adopted the Fiscal Year 2018-2019 budget, approving the proposed funding allocations for new revenue as recommended by the Mayor. The budget information below is for Fiscal Year 2018-2019 and reflects a shortened collection period that will begin on August 2018. During a full-length collection period, the sales tax increase is expected to generate $33 million per year.
Improved Street Conditions
Greater Housing Opportunities
Better Transit Service
Increased Neighborhood Safety & Security
Fund Balance Reserve
Funding Goal: Increase the number of lane miles that the City maintains each year.
Funding Goal: Establish long-range funding mechanism to increase the supply of affordable housing.
Funding Goal: Increase transit service and improve transit amenities.
Funding Goal: Implement a community policing model by hiring and training additional officers and support staff.
The City is required to maintain an amount equal to 10% of its yearly revenue in a savings account referred to as a “Fund Balance.”
Total: $25 million in additional revenue from the 0.5 percent increase to the City's portion of sales tax.