3.15.040 Fiscal accountability provisions—Citizen oversight and independent annual financial audits.
Along with the city’s ongoing commitment to citizen involvement as a fundamental principle of good government, specific citizen oversight and fiscal accountability provisions are hereby established as follows:
A. Revenue Enhancement Oversight Commission. A citizen’s commission will be established to provide transparency and maximize city accountability. The commission will be responsible for reviewing and making budget recommendations directly to the city council regarding expenditures from the essential services transactions (sales) and use tax and reporting annually to the community on the city’s use of these tax revenues.
B. Accounting and Tracking Expenditures. The funds collected through the city of San Luis Obispo essential services transactions (sales) and use tax ordinance shall be accounted for and tracked by the city treasurer separately to facilitate citizen oversight.
C. Independent Annual Financial Audit. The amount generated by this general-purpose revenue source and how it was used shall be included in the annual audit of the city’s financial operations by an independent certified public accountant.
D. Integration of the Use of Funds into the City’s Budget and Goal-Setting Process. The estimated revenue and proposed use of funds generated by this measure shall be an integral part of the city’s budget and goal-setting process, and significant opportunities will be provided for meaningful participation by citizens in determining priority uses of these funds.
E. Annual Community Report. A written report shall be reviewed at a public meeting by the revenue enhancement oversight commission, and a summary will be provided annually to every household in the community detailing how much revenue is being generated by the measure and how funds are being spent.
F. Annual Citizen Oversight Meeting. An invitation will be extended each year to the entire community inviting them to participate in a forum to review and discuss the use of the revenue generated by this measure. City staff will also be available to meet with any group that requests a specific briefing with their members to discuss and answer questions about the revenues generated by the measure and their uses. (Ord. 1686 § 1, 2020; Ord. 1604 § 1 (part), 2014: Ord. 1495 § 4, 2006)