Update financial guidelines to exclude large real estate sales from tax calculations
In Plain English
The city uses transfer taxes from property sales to predict annual revenue. Currently, huge commercial property sales distort these calculations by pushing expected revenue too high. The updated policy excludes sales over $10 million from average calculations, making budgeting more accurate.
Auto-generated summary. Source: official agenda documents.
Votes
Approve consent calendar
Related Items
Receive monthly financial reports for January 2026
Mar 17, 2026
Approve 3 human resources contracts totaling $269,100
Mar 17, 2026
Review mid-year budget performance and approve spending adjustments
Mar 17, 2026
Accept $10,000 Carnegie Corporation gift for library history room and museum
Mar 17, 2026
Accept $137,058 state grant for adult literacy and English language programs
Mar 3, 2026
Appropriate $8.2 million in leftover funds from last year's budget
Mar 3, 2026
Update authorized signers for Local Agency Investment Fund accounts
Mar 3, 2026
Approve 3-year contract for irrigation supplies up to $150,000
Mar 3, 2026
Receive annual financial audit report for fiscal year 2025
Mar 3, 2026
Receive monthly financial report for rent control program through January 2026
Feb 18, 2026