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Resolutions Authorizing Execution of Certain Documents Required by CDTFA for Implementation <br />of Voter Approved Transactions and Use Tax and Approval of Second Amendment to <br />MuniServices Agreement <br />January 15, 2019 <br />Page 4 <br />In addition, it is desirable that the term of MuniServices' agreement be extended to bring it into <br />better alignment with the full reporting and allocation cycle of the new transactions and use taxes. <br />Furthermore, to assure a timely implementation of the City's Sales Tax by the earliest possible <br />quarterly period permitted by law, April 1, 2019, CDTFA requires the City to execute and deliver to <br />CDTFA all requested resolutions and agreements, including any agreement between the City and <br />its contracted agent, on or before February 1, 2019. <br />STRATEGIC PLAN ALIGNMENT <br />Approval of this item allows the City to meet Goal No. 4 City Financial Stability, Objective No. 3 <br />(Achieve a structurally balanced budget with appropriate reserve levels). <br />FISCAL IMPACT <br />Sales Tax — Appropriation Adjustment and CDTFA Preparatory Agreement are as follows: <br />Revenue <br />Account <br />Sales Tax — Measure X (01102002-50022) <br />Amount <br />$15,000,000 <br />Expenditure <br />Gen. Non -Departmental Reserve for Appropriation (01105015-69000) $14,825,000 <br />Gen. Non -Departmental Contract Services (01105015-62300) $ 175,000 <br />Resolutions <br />No fiscal impact is associated with approval of items connected with State required resolutions or <br />with the Agreement for State Administration of District Transactions and Use Taxes resulting from <br />the passage of Measure X. (The City will be in receipt of its Sales Tax, net of administrative fees <br />assessed by the CDTFA). <br />MuniServices Agreement <br />Fees will not be increased forthe additional services that MuniServices renders under an approved <br />Second Amendment to Agreement. However, fees resulting from City's (1%) year extension of <br />said Agreement will be budgeted and available in the Management and Support Services account <br />(01110100-62300) as follows: <br />MuniServices, LLC - Additional Term <br />Fiscal Year Amount <br />2020-21 $ 12,500 <br />2021-22 $ 6,500 <br />APPROVED AS TO FUNDS AND ACCOUNTS: <br />IKI�ca� &pww�o <br />Kathryn Downs, CPA <br />Executive Director Sm <br />Finance and Management Services Agency <br />55B-4 <br />