Title
City Auditor’s Fiscal Year (FY) 2023/2024 Audited Cannabis Business Operations Tax Amount for the Sacramento Children’s Fund
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FileID
File ID: 2024-01869
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Location
Location: Citywide
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Recommendation
Recommendation: Pass a Motion: 1) accepting the City Auditor’s FY2023/2024 Audited Cannabis Business Operations Tax Amount for the Sacramento Children’s Fund; and 2) forwarding to City Council for approval.
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Contact
Contact: Farishta Ahrary, City Auditor, (916) 808-7266, fahrary@cityofsacramento.org; Jordan Sweeney, Principal Fiscal Policy Analyst, (916) 808-2310, jpsweeney@cityofsacramento.org; Office of the City Auditor
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Presenter
Presenter: Farishta Ahrary, City Auditor, (916) 808-7266, fahrary@cityofsacramento.org; Jordan Sweeney, Principal Fiscal Policy Analyst, (916) 808-2310, jpsweeney@cityofsacramento.org; Office of the City Auditor
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Attachments
Attachments:
1-Description/Analysis
2-City Auditor’s Fiscal Year 2023/2024 Audited Cannabis Business Operations Tax Amount for the Sacramento Children’s Fund
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Description/Analysis
IssueDetail
Issue Detail: This project was approved as part of the City Auditor’s FY2024/25 Work Plan. According to the City Council Rules of Procedures, the Budget and Audit Committee shall receive, review, and forward to the Council as appropriate, reports, recommendations, and updates from the City Auditor. This report documents the City Auditor’s FY2023/2024 Audited Cannabis Business Operations Tax Amount for the Sacramento Children’s Fund.
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PolicyConsiderations
Policy Considerations: The Sacramento Children and Youth Health and Safety Act, also known as Measure L, was passed by voters in November 2022. Measure L amended the Sacramento City Charter, adding Section 120 - Sacramento Children’s Fund. The section outlines the establishment and operations of the "Sacramento Children’s Fund" in the City of Sacramento.
In subsection (c) and paragraph (2) of the Sacramento Children’s Fund, the City Auditor is directed to publish an audited amount of Cannabis Business Operations Tax (CBOT) for the prior fiscal year by January 15 of each year. This report documents the City Auditor’s F Y2023/2024 Audited Cannabis Business Operations Tax Amount for the Sacramento Children’s Fund.
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EconomicImpacts
Economic Impacts: None.
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EnvironmentalConsiderations
Environmental Considerations: None.
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Sustainability
Sustainability: None.
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Commission/Committee Action
Commission/Committee Action: None.
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RationaleforRecommendation
Rationale for Recommendation: This staff report provides the Budget and Audit Committee with information that may be used to meet its responsibility to provide oversight and supervision of the City Auditor and other City departments.
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FinancialConsiderations
Financial Considerations: The City contracted with Macias Gini & O’Connell LLP to audit the FY2023/2024 Cannabis Business Operations Tax Amount at a cost of $18,500. The cost of the City Auditor’s FY2023/2024 Audited Cannabis Business Operations Tax Amount for the Sacramento Children’s Fund was funded as allowable administrative costs from the Sacramento Children’s Fund.
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LocalBusinessEnterprise
Local Business Enterprise (LBE): None.
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