17 Sep 2022

How We Came Up with $120,000,000 of Lost Revenues That The 2016 Council Rejected

by LGCA | posted in: Finance, Finance Commission, Uncategorized | 0

We used Measure G as of 2022 to establish our number. A 1/8 cent sales tax passed in 2018 with Measure G currently generates $1.2 Million per year.

A 1/2 cent sales tax would equal 4x the 1/8 cent sales

If Measure G produces $1.2M with 1/8 cent, then a 1/2 cent produces $4.8 M. In 25 years when it sunsets, it would have produced a total of $120 M not taking inflation into account which would raise the number well above $4.8 Million.

If we got $4.8M every year and we are running a $4M deficit as we show in the five year forecast, we would still have $800K left over (before inflation).

Voted for the tax: Leonardis and Sayoc
Voted against the tax: Jensen, Rennie and Spector

16 Sep 2022

LGCA Convinces the Town Council to Make a $10.4M ADP- Eventually Saving the Town $18.7 Million

by LGCA | posted in: Finance, Finance Commission, Finance Committee, Financial Status, Unfunded Liabilities | 0

CALPER’s latest actuarial report for the Misc Pension Plan shows remarkable progress in reducing the unfunded pension liability. To refresh your memory as of June 30, 2019 the unfunded pension liability for the Misc Plan was $35.9m and had a … Continued

21 Sep 2021

Thoughts On The 2040 General Plan and Why It Should Not Be Adopted

by LGCA | posted in: 2040 General Plan DEIR, Finance Commission, Financial Status, General Plan Advisory Committee 2020-2040, Housing, Housing Element Basics, Latest News | 1

“Cities have the capability of providing something for everybody, only because and only when, they are created by everybody” – Jane Jacobs The General Plan is more than a legal underpinning for land use decisions; it reflects the community’s … Continued

26 Sep 2020

Pension Debt and Annual Costs Are Increasing Again for Los Gatos During the 2020-2021 Fiscal Year!

by LGCA | posted in: Budget 2020-2021, Finance Commission, Finance Commission Initiative, Finance Committee, Financial Status, Initiatives - 2020, Measure A - Finance Commission, Pensions | 0

The Town just posted the new CALPERs actuarial valuations as of June 30, 2019 and as we suspected they are not pretty. Funded status for both plans decreased. Safety is down to 67.9% and Misc is also down to 71.9%. … Continued

8 Aug 2020

More evidence that we need a permanent Finance Commission in place

by LGCA | posted in: Budget 2020-2021, Finance Commission, Financial Status, Our Town | 0

Response to the FY 20/21 budget inquiry last week Inbox x July 14, 2020 to Marcia, msayoc@losgatosca.gov, BSpector, Rob, me, Rick Dear Council Members, Below is my reply to Mr. Conway’s response to my initial email. I understand the Mr. Conway provided you a copy … Continued

9 May 2020

Council unanimously votes to pay bonuses and give salary increases

by Phil Koen | posted in: Budget 2020-2021, Finance Committee, Financial Status, Salaries and Benefits | 1

NOTE: We promised an update to our initial letter regarding the Council’s unanimous response to approve the raise and the bonus. Below is a letter written to the Democracy Tent group that will be discussed in their Zoom meeting … Continued

11 Oct 2018

Why Does this Town Council Need to Tax Us When They Have $16,000,000 More in Cash in 2018 Than They Had in 2014???

by LGCA | posted in: Finance, Financial Status, Taxes | 0

It is a common misconception that we would hit the top of allowable sales tax dollars if voters approve Measure G. Currently (10-11-‘201) the Town has ¼% available under the 2% district tax limit set by the State. The … Continued

4 Oct 2018

Here’s Where Your Sales Tax Money Goes

by Jak | posted in: Financial Status, Measure G, Our Town, Sales Tax - 2018 | 0

Editorial: Voters, here’s where your sales tax money goes Martinez sales tax hike deserves voter support. Increases and extensions in Albany, Alameda and Antioch don’t UPDATED: October 3, 2018 at 9:21 am You just bought that fancy … Continued

1 Oct 2018

The Argument Against Measure G

by Jak | posted in: Financial Status, Measure G, Our Town, Sales Tax - 2018 | 0

Argument Against Measure G. There are no compelling reasons to increase the sales tax in Los Gatos. Council Member Barbara Spector called the ballot measure misleading to our community. Now it is up to the citizens of Los … Continued

27 Feb 2018

The Los Gatos 5 Year Financial Trend Analysis and Peer City Comparison – 2013 to 2017

by Jak | posted in: Finance Committee, Financial Status, Our Town, Pensions | 0

For over two years, a group of us have been looking at the town’s financial situation. What we recognized was that the town had a council Financial Committee made up of two non-financial Council members. No one on the council … Continued