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⚠️ Este contenido ha sido traducido automáticamente. El texto original en inglés es la versión oficial. La traducción puede contener errores.
Findings and Recommendations 4 findings
F1
– Benicia’s real-estate-based revenue projection model has not held true over time and has resulted in expenses exceeding revenue for many years.
Related Recommendations (1)
R1
– The Benicia City Council prioritize and mandate the creation of specific plans for construction of mixed-use buildings on undeveloped land beginning in the next fiscal year. An expected requirement to include affordable homes in any new development could reduce the maximum possible revenue, but it still would increase the tax base.
F2
– Benicia needs to increase revenue from sources other than sales tax. Benicia’s sales tax is already the highest of any city in Solano County and thus is an unlikely source for additional income. (See Table D.)
Related Recommendations (1)
R2
– Benicia City Council explore and implement, during the next fiscal year, other means to increase revenue, such as: a) Increase marketing of Benicia as a tourism destination by adding more festivals, faires and other events. b) Pursue methods to attract big box stores or other sales tax revenue generating companies to the City. c) Consider installing metered parking as a revenue source.
F3
– Benicia already has reduced some services and staffing levels but this has not solved the problem.
Related Recommendations (1)
R3
– Benicia City Council direct City departments to take measures within the next fiscal year to reduce expenditures as follows: a) City financial administration perform a cost/benefit analysis on services to recommend to City Council could be reduced or eliminated (e.g., parks and recreational services, library hours, or extending public works maintenance schedules). b) City administrators review staffing models to find areas to cut or to outsource. c) City Council direct appropriate agencies to reduce expenses by deferring and/or reducing raises and consider other means of compensation.
F4
– Benicia did not project enough funds for budgeted activities into the future, such as creating a five-year plan.
Related Recommendations (1)
R4
– City administrators continue with plans to prepare budget projections at least five years into the future and submit timely reports, including projections, to the City Council. V. COMMENTS The voters of Benicia recently approved three tax measures (Measures A, B, and F.) Revenues from these Measures will start in 2025. The Jury commends Benicia for recently implementing a temporary suspension of annual business license fees, which is projected to encourage local business openings and renewals, and stimulate the volume of business revenue. Outdated financial software was alleged to cause inadequate reporting. However, interviews with city staff indicated that neither software issues nor timely financial reporting were significant causes of the deficit. It was claimed that a required final quarterly report for 2022-23 was not given to the City Council. However, interviewees indicated that data for the fourth quarter of that fiscal year was included in the annual audit, the External Audit Report (City of Benicia Annual Comprehensive Financial Report) for 2023 (https://www.ci.benicia.ca.us/vertical/sites/%7BF991A639-AAED-4E1A-9735- 86EA195E2C8D%7D/uploads/Benicia_2023_ACFR.pdf) and met that requirement. During the Jury’s investigation, Valero Refinery announced intentions to alter the nature of their operations in Benicia. No further information is available at this time to permit economic analysis or revenue projection. VI.
Comments 1
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CO1The voters of Benicia recently approved three tax measures (Measures A, B, and F.) Revenues from these Measures will start in 2025. The Jury commends Benicia for recently implementing a temporary suspension of annual business license fees, which is projected to encourage local business openings and renewals, and stimulate the volume of business revenue. Outdated financial software was alleged to cause inadequate reporting. However, interviews with city staff indicated that neither software issues nor timely financial reporting were significant causes of the deficit. It was claimed that a required final quarterly report for 2022-23 was not given to the City Council. However, interviewees indicated that data for the fourth quarter of that fiscal year was included in the annual audit, the External Audit Report (City of Benicia Annual Comprehensive Financial Report) for 2023 (https://www.ci.benicia.ca.us/vertical/sites/%7BF991A639-AAED-4E1A-9735- 86EA195E2C8D%7D/uploads/Benicia 2023 ACFR.pdf) and met that requirement. During the Jury's investigation, Valero Refinery announced intentions to alter the nature of their operations in Benicia. No further information is available at this time to permit economic analysis or revenue projection. VI.