Title
a. Consider approving the attached proposed County Financial Policies revision to include a policy to fund the Road Fund through a County Transient Occupancy Tax contribution formula in a graduated process from 20% up to a flat rate contribution of 25% to maintain roads;
b. Consider approving the policy to include the implementation of a Road Fund Advisory Committee to provide direction on the use of the funds; and
c. Consider approving the Resource Management Agency as the designated County department to support the Road Fund Advisory Committee.
Report
RECOMMENDATION:
It is recommended that the Board of Supervisors:
a. Consider approving the attached proposed County Financial Policies revision to include a policy to fund the Road Fund through a County Transient Occupancy Tax contribution formula in a graduated process from 20% up to a flat rate contribution of 25% to maintain roads;
b. Consider approving the policy to include the implementation of a Road Fund Advisory Committee to provide direction on the use of the funds; and
c. Consider approving the Resource Management Agency as the designated County department to support the Road Fund Advisory Committee.
SUMMARY:
June 2013, the Board, in recognition of the contributing value that well maintained roads provide for the overall economic vitality of the County, approved including the Road Fund in the list of recipients from the County Transient Occupancy Tax Revenue contribution formula for FY 2012-13, which was established at 20% at that time. Additionally, the Board of Supervisors directed staff to return with a recommended County financial policy to: (1) utilize a Transient Occupancy Tax (TOT) contribution percentage formula on a per annum basis leading to a flat rate in the future of 25%; and (2) implementation of an Advisory Committee (Committee), whether an existing or creating a new Committee, to provide direction to the Monterey County Public Works Department in the use of the TOT ...
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