Title
Amend the adopted Fiscal Year 2020-21 Secured Roll Tax Rates calculated by the Office of the Auditor-Controller to include the debt service tax rate for San Ardo School District.
Report
RECOMMENDATION:
It is recommended that the Board of Supervisors:
Amend the adopted Secured Roll Tax Rates calculated by the Office of the Auditor-Controller for Fiscal Year 2020-21 to include the rate for San Ardo School District.
SUMMARY/DISCUSSION:
Government Code Section 29100 requires secured roll tax rates to be approved by the Board of Supervisors each year. Since the passage of Proposition 13, the only rates that are subject to this procedure are those needed to provide taxes for the payment of principal and interest on certain long-term agency indebtedness. The Office of the Auditor-Controller is requesting that the Board of Supervisors adopt the rate of 0.042089% to be used for tax rate areas within the San Ardo School District. The San Ardo School District tax rate was inadvertently omitted from the list of rates approved by the Board of Supervisors on September 15th, 2020.
OTHER AGENCY INVOLVEMENT:
None.
FINANCING:
Approval of this rate will ensure that sufficient funds are available to make payments on the debt service bonds for the San Ardo School District. There is no financial impact on the General Fund contribution with this recommend action.
BOARD OF SUPERVISORS STRATEGIC INITIATIVES:
The Fiscal Year (2020-21) Secured Roll Tax Rates pursuant to Article XIII A, Section 1 (b) of the California Constitution is consistent with the Board of Supervisors’ Strategic Initiatives for Administration. The debt service tax rates will levy the revenue necessary to pay voter-approved bonded indebtedness to meet annual payments.
Mark a check to the related Board of Supervisors Strategic Initiatives
__Economic Development
X Administration
__Health & Human Services
__Infrastructure
__Public Safety
Prepared by: Joey Nolasco, Auditor-Controller Analyst II, 784-5716
Approved by: Rupa Shah, CPA, Auditor-Controller, 755-5040
Attachments:
Board Report
FY2020-21 Secured Roll Debt Service Tax Rates