TOWN ATTORNEY’S IMPARTIAL ANALYSIS OF MEASURE “A”
ESTABLISH A TOWN FINANCE COMMISSION
Voter approval of Measure “A” would amend the Los Gatos Town Code to disband both the Council Finance Committee and Sales Tax Oversight Committee and establish instead a Finance Commission consisting of seven (7) members – five (5) voting citizen members and two (2) nonvoting Council Members, (one of which would be either the Mayor or Vice Mayor), with each Council Member appointing one Citizen Appointee for a four (4) year term.
The Town of Los Gatos currently has a Council Finance Committee consisting of five (5) members – two (2) Town Council Members as voting members and three (3) citizen members as nonvoting members, appointed by the Town Council. The function of the current Council Finance Committee is to serve as an advisory committee to the Town Council regarding the Town’s investment policy, the Comprehensive Annual Financial Report, the unfunded pension employment benefits and new and increased revenue sources. The purpose of the current Council Finance Committee is not to advise on regular or routine financial administration, the Town’s budget or spending priorities, nor to become involved in other than the financial impact of the projects /programs they are asked to review.
Voter approval of Measure “A” would create a new Finance Commission that would serve in an advisory capacity to the Town Council and increase their duties and responsibilities in regard to the review of Town finances, including but not limited to: the Annual Budget, the Comprehensive Annual Financial Report, capital expenditures, the revenue and expenditure of Measure G Sales Tax, and making recommendations about the Town’s financial budgetary and investment matters and operations related thereto to the Town Council and any other Town department, agency, committee, commission or other body as the Town Council directs.
A “yes” vote on Measure “A” will disband both the Council Finance Committee and Sales Tax Oversight Committee and establish a Finance Commission as set forth above.
A “no” vote on Measure “A” will not disband both the Council Finance Committee and Sales Tax Oversight Committee and will not establish a Finance Commission as set forth above.
Measure “A” will be approved if it receives a simple majority of “Yes” votes.
Per Election Code 9280: The above statement is an impartial analysis of Measure “B”. If you desire a copy of the Measure, please visit the Town of Los Gatos website at https://www.losgatosca.gov/2612/Citizen-Initiatives-on-the-November-3-20 or contact the Town Clerk’s office at clerk@losgatosca.gov and a copy will be mailed at no cost to you.
/s/ Robert Schultz, Town Attorney