AGENDA TITLE:
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Adopt a Resolution Approving Transient Occupancy Tax Guideline Documentation and Approving the Final Audit Findings for January 1, 2019 to September 30, 2022 Period (FIN)
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MEETING DATE:
February 21, 2024
PREPARED BY:
Melissa Munoz, Accounting Manager
recommendation
RECOMMENDED ACTION:
Adopt a Resolution Approving Transient Occupancy Tax Guideline Documentation and Approving the Final TOT Audit Findings for January 1, 2019 to September 30, 2022.
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BACKGROUND INFORMATION:
The Transient Occupancy Tax ("TOT") is a tax that vacation rental hosts in California are required to charge their guests. The proceeds from the tax go to the City's General Fund, which in turn funds local public services such as police, fire, and general services.
Hinderliter De Llamas & Associates' ("HDL") TOT audit service employs a business-friendly approach, which educates hoteliers on TOT regulations and filing procedures, ensures compliance, and maximizes agency revenues. HDL conducted an audit of reported TOT for the period of January 2019 to September 2022. The results of this audit were presented to the City Council during a Shirtsleeve Meeting on January 23, 2024. During this meeting, Council directed staff to provide guidance documentation to all TOT properties.
Staff recommends Council approve the guidance documentation to provide additional clarity on items considered taxable under the City's TOT ordinance as shown in Exhibit "A," and approve the final TOT audit letters and findings for January 1, 2019 to September 30, 2022 period which are included as Exhibit "B."
STRATEGIC VISION:
3A. Fiscal Health: Promote City's transparency & fiscal fluency.
FISCAL IMPACT:
There is no fiscal impact in approving this item.[KL1]
FUNDING AVAILABLE:
Not applicable.
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Melissa Munoz
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