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File #: File ID 13882    Version: 1 Name:
Type: Agenda Item Status: No Action
File created: 12/9/2021 In control: Board of Supervisors
On agenda: 1/18/2022 Final action: 1/18/2022
Title: UNFINISHED BUSINESS (12/21/21) PAYGO Policy, Full Funding by FY25 Discussion/Direction/Action: Directing the Acting County Administrator and County staff to revise the County's current PAYGO Policy from a 60/60 framework to 80/80, effective for the FY23 Budget cycle, in order to achieve full funding of the County's PAYGO program (defined as at least $50M each year of recurring General Fund revenues for capital improvements) by FY25. Under this revision, 80% of the decrease in the secondary tax rate (which is decreasing as Pima County pays off its General Obligation Bond debt) combined with 80% of the growth in the primary tax base, will be allocated to funding capital improvements, as envisioned in the Pima County Integrated Infrastructure Plan (see executive summary attached). This revision to the PAYGO Policy will accelerate the ability of the County to undertake and execute much needed capital improvements, from streets and roads to parks, public health and public safety - includin...
Attachments: 1. BOS_PAYGOPolicy_Dist2Submittal, 2. BOS_CAMemo_PayAsYouGoProgram_12-17-21, 3. BOS_PAYGOPolicy_CommentLetter_12-20-21_Redacted, 4. BOS_CAMemo_PayAsYouGoProgram_1-12-22, 5. BOS_CAMemo_PayAsYouGoProgram_Revised_1-13-22, 6. BOS_CA-PAYGOPresentation_1-18-22

Title

UNFINISHED BUSINESS (12/21/21)

PAYGO Policy, Full Funding by FY25

Discussion/Direction/Action: Directing the Acting County Administrator and County staff to revise the County’s current PAYGO Policy from a 60/60 framework to 80/80, effective for the FY23 Budget cycle, in order to achieve full funding of the County’s PAYGO program (defined as at least $50M each year of recurring General Fund revenues for capital improvements) by FY25. Under this revision, 80% of the decrease in the secondary tax rate (which is decreasing as Pima County pays off its General Obligation Bond debt) combined with 80% of the growth in the primary tax base, will be allocated to funding capital improvements, as envisioned in the Pima County Integrated Infrastructure Plan (see executive summary attached).  This revision to the PAYGO Policy will accelerate the ability of the County to undertake and execute much needed capital improvements, from streets and roads to parks, public health and public safety - including tackling deferred maintenance projects and saving the taxpayers tens of millions of dollars down the road.

 

Per the memorandum from the County Administrator’s Office dated November 22, 2021 (attached), such a revision to the PAYGO Policy would still result in an overall decrease in the County’s combined primary and secondary property tax rate each year going forward. (District 2)