Desk Item.Item #11 - Proposed BudgetPREPARED BY: Gitta Ungvari
Finance Director
Reviewed by: Town Manager and Town Attorney
110 E. Main Street Los Gatos, CA 95030 ● (408) 354-6832
www.losgatosca.gov
TOWN OF LOS GATOS
COUNCIL AGENDA REPORT
MEETING DATE: 05/16/2023 ITEM NO: 11 DESK ITEM
DATE:
TO:
FROM:
SUBJECT:
May 16, 2023
Mayor and Town Council
Laurel Prevetti, Town Manager
Consider the Recommendations of the Finance Commission and Staff, and
Provide Direction on the Town of Los Gatos Proposed Operating and Capital
Budget for Fiscal Year (FY) 2023/24 and on the Proposed Capital Improvement
Program for FY 2023/24 – FY 2027/28; Including but Not Limited to:
a.Provide direction to Balance the FY 2023/24 Proposed Budget;
b.Provide Direction on the Proposed Operating Budget;
c.Provide Direction on the Proposed Capital Budget; and
d.Consider the FY 2023/24 List of Potential Donations Consistent with the
Town’s Donation Policy
REMARKS:
Attachment 10 contains public comments received between 11:01 a.m., Monday, May 15, and
11:00 a.m. Tuesday, May 16, 2023.
Attachments Provided to the Council Prior to the Distribution of the Staff Report:
1.FY 2023/24 Proposed Operating Budget
https://www.losgatosca.gov/2858/Proposed-FY-2023-24-Operating-Budget
2.FY 2023/24 – 2027/28 Proposed Capital Improvement Program Budget
https://www.losgatosca.gov/2859/Proposed-2023-24-Capital-Budget
Attachments Provided with the Staff Report:
3.FY 2023/24 Finance Commission Operating and Capital Budget Recommendations
4.Revenue and Expense Forecast Assumptions
5.List of updates related to corrections based on staff and Commissioners review and
comments
6.Town of Los Gatos Donation Policy
7.Town of Los Gatos Donation Opportunities: FY 2023/24
8.Public Comment Received Before 11 a.m. on May 11, 2023
PAGE 2 OF 2 SUBJECT: FY 2023/24 Proposed Operating and Capital Budgets DATE: May 16, 2023
Attachments Provided with the Addendum:
9. Public Comment Received Between 11:01 a.m., Thursday, May 11, and 11:00 a.m., Monday,
May 15, 2023
Attachments Provided with this Desk Item:
10. Public Comment Received Between 11:01 a.m., Monday, May 15, and 11:00 a.m., Tuesday,
May 16, 2023
ATTACHMENT 10
From: jvannada
Sent: Tuesday, May 16, 2023 10:55 AM
To: Wendy Wood <WWood@losgatosca.gov>; Town Manager <Manager@losgatosca.gov>; Gitta
Ungvari <GUngvari@losgatosca.gov>
Cc: Maria Ristow <MRistow@losgatosca.gov>; Mary Badame <MBadame@losgatosca.gov>; Matthew
Hudes <MHudes@losgatosca.gov>; Rob Moore <RMoore@losgatosca.gov>; Rob Rennie
<RRennie@losgatosca.gov>
Subject: For Town Council Meeting 5-16-23, Item 11: History of Property Tax increase in Los Gatos 2013-
2022
[EXTERNAL SENDER]
As of May 1, 2023 from the SCC Assessor’s Office projects the Town’s secured real
property tax roll for FY 24 increasing 6.6% from the prior FY 23 tax roll. The Town is
projecting only 3% so I have put together some history of our property tax for the last 10 years for your consideration. Note that even counting the Covid years that our average increase is still 7%
Please see attached
Source: 2022 ACFR (Pg 140)Schedule 8
Town of Los Gatos
Property Tax Levies and Collections
Last Ten Fiscal Years
Fiscal
Year
Town
Property
Tax
Levied
and
Collected
Redevelopment
Property Tax
Levied and
Collected
Total
Property
Tax
Levied
and
Collected Pre-covid 2013-2022
2013 8,253,442 8,253,442
2014 9,120,626 -9,120,626 11%
2015 9,787,519 -9,787,519 7%
2016 10,388,424 -10,388,424 6%
2017 11,345,588 -11,345,588 9%
2018 12,060,228 -12,060,228 6%
2019 12,924,592 -12,924,592 7%8%
2020 13,559,587 -13,559,587 5%Covid
2021 13,864,271 -13,864,271 2%Covid
2022 14,566,808 -14,566,808 5%Covid 7%