Fact checking Measure X | Opinion

A letter in CVN, Vol. 28 No. 52 tried to analyze the revenue generated by Measure X. As an accounting professional, I was pleased the letter writer embarked on this task and used a reliable source for the necessary information: The Annual Financial Reports posted on the city’s website.

Unfortunately, the analysis performed on that data was, surprisingly, completely wrong.

The writer compared the sales tax revenue for the fiscal year that ended June 30, 2021 ($5.3 million) to that for the year ended June 30, 2020 ($4.7 million). Despite the fact that the writer correctly stated that Measure X was in place for both of these years, the writer inexplicably asserted that the Measure X revenue was the difference between these two numbers ($600,000).

Obviously, if you want to see how much revenue Measure X is generating, you compare the revenue from years after Measure X was in place to years before it was in place. That data is easily found in the Annual Financial Reports on the City’s website.

Measure X went into effect on April 1, 2019. In the last two full fiscal years before it was in place (the years that ended June 30, 2017 and June 30, 2018), the city’s total sales tax revenue was $1.9 million each year . As mentioned above, in the first two full fiscal years after Measure X was in place, that number increased to $4.7 million in one year, and then $5.3 million in the next. The increase from the year before Measure X was in place to the year it first went into effect was $2.8 million. The increase from before Measure X to the second year it was in place was even higher, $3.4 million.

This is magnificent! Thank goodness for Measure X!

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