Finance

Overview

Collection and disbursement of Measure B half-cent sales tax revenues are accomplished via contract by the State Board of Equalization (BOE). Allocations of collected sales tax funds to ACTIA are made approximately two months following the actual sales transaction.

Distributions from ACTIA to local jurisdictions for programmatic "pass-through" funds occurs on a monthly basis; project and programmatic grant distributions are done on a reimbursable basis.

By law, ACTIA administrative staff costs are capped at 1% of net Measure B revenues. Total administrative costs are limited to 4.5% of net revenues.

Operations

Under the current Measure B program, managed by ACTIA, Finance supports a wide range of fiduciary and administrative activities for ACTA/ACTIA, including:

In administering Measure B, Finance assures that approximately 40% of funds are retained for capital projects and 60% are allocated for special revenues, including distribution of pass-through funds to local jurisdictions and sponsor agencies for programs. 

Finance also ensures that the Authority’s administrative staff costs are capped at 1% of the net Measure B revenues and that total administrative costs are limited to 4.5% of the net revenues.

Annual independent audits are performed to enforce accountability and transparency, determining that financial statements are accurate and in compliance conformity with United States generally accepted accounting principles.