Title
Consider recommendations regarding impoundment of various taxing entities’ 2017-2018 property tax revenue and release of prior years’ impounded property tax revenue, as follows: (4/5 Vote Required)
a) Approve and authorize the Auditor-Controller to impound $3,411,307.00 of 2017-2018 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 0005562 to establish appropriations of $933,755.00 in multiple County funds and departments for an increase in nonspendable fund balance funded by property tax revenues impounded due to assessment appeals filed by taxpayers;
c) Approve Budget Revision Request No 0005540 to increase fund balance components by $1,405,265.00 in multiple County funds and departments, funded by release of nonspendable fund balance due to the resolution of multiple assessment appeals cases; and
d) Determine that the decision to approve and authorize the impoundment and release 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.