Title
Consider recommendations regarding impoundment of various taxing entities' 2014-2015 property tax revenue, as follows: (4/5 Vote Required)
a) Approve and authorize the Auditor-Controller to impound $2,939,333.00 of 2014-2015 current year taxes from various entities' property tax revenues to mitigate potential losses from large assessment appeals filed by taxpayers;
b) Approve Budget Revision Request No. 0003956 to establish appropriations of $1,104,335.00 in multiple departments and funds for an increase in nonspendable fund balance funded by property tax revenues that have been impounded due to assessment appeals filed by taxpayers; and
c) Determine that the decision to approve and authorize the impoundment is not a project under the California Environmental Quality Act (CEQA) pursuant to Section 15378(b)(4) of the CEQA Guidelines, because it is a government fiscal activity which does not involve any commitment to any specific project which may result in a potentially significant physical effect on the environment.