Agenda Item Title:
Title
Second Reading: Council Member Stroud Recommending Adding a new Section, 4-9, to the Sandy Municipal Code Requiring a General Fund Purchasing Power Analysis be Produced Annually
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Presenter:
Council Member Alison Stroud
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Description/Background:
Please review the attached memorandum and redline addition to the Sandy Municipal Code, Chapter 4-9. These are the same items presented during the May 26th First Reading of this proposal.
The proposed amendment to Title 4 of the Sandy City Municipal Code establishes Chapter 4-9, titled "Executive Branch Disclosures and Transparency Standards." This ordinance formally requires the City Budget Officer to include a comprehensive General Fund Purchasing Power Analysis within the annual tentative budget document, to be presented to the City Council by the first meeting in May each year.
The primary objective of this legislation is to institutionalize data-driven fiscal transparency. By tracking the erosion of municipal purchasing power due to inflation and calculating a hypothetical CPI-adjusted property tax rate, this analysis will identify the "inflationary gap" required simply to maintain the City’s existing service levels.
Recommended Action and/or Suggested Motion:
Recommendation
Motion to adopt Ordinance 26-49
OR
Motion to adopt Ordinance 26-49 as amended (if amendments are made during the meeting)