HomeMy WebLinkAboutCC 11-18-2025 Item No. 18 City Manager's First Quarter Financial Report for FY 2025-26_Written CommunicationsCC 11-18-2025
Item No. 18
City Manager's First
Quarter Financial
Report for FY 2025-26
Written Communications
From:Rhoda Fry
To:Public Comments
Cc:City Clerk; City Council
Subject:RE: comments city council meeting 11/18 - item #18
Date:Sunday, November 16, 2025 7:11:50 PM
Attachments:MonthlyLocalAllocationCities (5).xlsx
CAMPBELL.xlsx
RevenueTaxSharingAgreementReportedByJurisdictions.pdf
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Dear City Council,
Can you explain how we are beginning the first quarter with $182M and ending it quarter with
$155M?
That does not look like things are going in the right direction. Can you explain?
I went to opengov and it seems to me that the anticipated sales-tax-revenue is too high.
I would like to understand how the City determined the anticipated sales-tax revenues for
2025/26.
Previously, revenue from tax-sharing agreements with Apple and Insight, see third attachment,
were rolled into sales-tax-revenue, so there was no transparency as to how much income we
were deriving from these agreements. We all know that the Apple agreement has been
terminated. But what about Insight? Please explain how we have anticipated the revenue drop
from the loss of that agreement? I haven’t attended all council meetings, but I have not seen
mention of the loss of that income.
In looking at CDTFA data, there have been zero sales-tax income distributions from the state
since May 2025. The first attachment is a report that I generated from the CDTFA (I removed
the pennies and added commas for the thousands). By comparison, see the second attachment
shows the City of Campbell. So you can see that there are six months of zero income for
Cupertino where Campbell has these fields populated. There is some explanation on page 11,
but can you please provide some more color here? We don’t have transparency on a full six
months of data! In detail, why is this happening? And, what do we anticipate that the numbers
should be?
According to open gov, it is expected that sales-tax-revenue will rise – I am not that
optimistic. Please explain more.
I am glad that we’ll probably have a good year for TOT (hotel tax revenue) with the football
superbowl and the big soccer matches coming, but that will be a one-time revenue
opportunity.
Finally, please go through the CIP project status line-by-line, I think that there are some
opportunities for savings there.
Sincerely,
Rhoda Fry
Monthly Payments to Cities and Counties from the 1% Local Sales and Use Tax
Fiscal Year Fiscal Year To Jurisdiction Id Jurisdiction Type Jurisdiction Year To Date Distributed July Distributed August Distributed September Distributed October Distributed November Distributed December Distributed January Distributed February Distributed March Distributed April Distributed May Distributed June
2,025 2,026 43,008 City CITY OF CAMPBELL 4,202,304 1,095,658 1,093,795 1,083,720 929,130 0 0 0 0 0 0 0 0
2,024 2,025 43,008 CITY CITY OF CAMPBELL 12,174,319 1,158,679 686,623 1,177,505 849,733 798,746 1,217,670 914,175 1,192,209 1,166,341 868,448 1,000,008 1,144,182
2,023 2,024 43,008 CITY CITY OF CAMPBELL 13,794,040 1,105,859 1,845,568 1,258,678 1,026,086 943,577 1,102,186 899,048 1,145,841 1,198,227 890,060 1,181,796 1,197,115
2,022 2,023 43,008 CITY CITY OF CAMPBELL 14,178,457 1,066,913 1,181,513 1,069,713 878,886 2,353,671 1,053,799 837,054 1,754,697 1,062,095 732,708 991,403 1,196,005
2,021 2,022 43,008 CITY CITY OF CAMPBELL 12,540,972 1,164,314 1,116,205 1,100,865 1,005,741 978,670 1,007,941 828,731 1,291,048 932,122 804,373 1,209,022 1,101,940
2,020 2,021 43,008 CITY CITY OF CAMPBELL 10,311,292 1,042,598 345,868 825,696 759,450 1,117,344 1,094,391 822,772 793,539 933,761 827,109 815,201 933,562
2,019 2,020 43,008 CITY CITY OF CAMPBELL 11,274,100 999,645 1,104,557 1,077,479 1,003,849 875,813 1,075,325 996,692 1,106,564 1,018,338 684,911 256,172 1,074,757
2,018 2,019 43,008 CITY CITY OF CAMPBELL 12,089,090 1,023,182 787,549 903,427 1,162,183 1,051,242 1,086,070 1,034,677 1,135,694 999,066 948,947 891,012 1,066,041
2,017 2,018 43,008 CITY CITY OF CAMPBELL 11,581,473 763,400 1,017,800 1,026,333 763,400 1,017,800 1,233,366 844,900 1,126,400 868,698 705,300 1,286,027 928,049
2,016 2,017 43,008 CITY CITY OF CAMPBELL 11,226,435 779,500 1,039,200 988,272 751,700 1,002,400 1,091,656 799,700 1,066,400 1,042,767 687,100 916,000 1,061,741
2,015 2,016 43,008 CITY CITY OF CAMPBELL 9,093,891 575,900 767,700 800,554 578,000 770,500 697,187 604,100 805,400 854,292 699,600 932,800 1,007,858
2,014 2,015 43,008 CITY CITY OF CAMPBELL 8,246,585 549,700 733,000 861,898 596,600 795,500 613,582 542,900 724,000 837,498 522,700 697,000 772,207
2,013 2,014 43,008 CITY CITY OF CAMPBELL 7,741,498 539,000 718,700 660,065 546,800 729,100 732,130 528,500 671,600 670,576 486,500 648,700 809,827
2,012 2,013 43,008 CITY CITY OF CAMPBELL 7,282,555 496,700 662,200 635,150 510,100 680,100 665,467 507,500 582,000 728,118 477,300 636,400 701,519
2,011 2,012 43,008 CITY CITY OF CAMPBELL 7,108,219 432,700 577,000 744,938 409,400 545,900 864,860 484,800 646,400 626,092 426,600 568,800 780,729
2,010 2,011 43,008 CITY CITY OF CAMPBELL 6,170,818 412,900 550,500 509,107 408,200 544,200 614,204 460,500 614,000 457,134 379,500 556,600 663,973
Monthly Payments to Cities and Counties from the 1% Local Sales and Use Tax
Fiscal Year Fiscal Year To Jurisdiction Id Jurisdiction Type Jurisdiction Year To Date Distributed July Distributed August Distributed September Distributed October Distributed November Distributed December Distributed January Distributed February Distributed March Distributed April Distributed May Distributed June
2,025 2,026 43,012 City CITY OF CUPERTINO 0 0 0 0 0 0 0 0 0 0 0 0 0
2,024 2,025 43,012 CITY CITY OF CUPERTINO 30,780,219 2,754,189 3,514,685 3,019,206 2,928,166 4,162,661 3,608,349 3,583,607 5,229,755 1,047,627 931,973 0 0
2,023 2,024 43,012 CITY CITY OF CUPERTINO 42,577,437 6,890,320 1,923,500 2,321,556 2,294,475 5,553,836 2,936,033 2,991,681 6,516,867 2,670,040 2,799,495 3,383,744 2,295,890
2,022 2,023 43,012 CITY CITY OF CUPERTINO 41,252,088 3,997,728 2,231,080 3,220,488 3,300,624 4,285,808 6,275,186 6,266,361 0 2,586,568 2,704,427 3,681,671 2,702,148
2,021 2,022 43,012 CITY CITY OF CUPERTINO 57,475,110 5,879,872 2,241,382 4,057,661 3,940,940 4,321,103 4,646,823 4,945,601 11,215,971 4,016,080 4,138,655 4,605,134 3,465,888
2,020 2,021 43,012 CITY CITY OF CUPERTINO 58,225,876 2,348,482 7,822,915 2,733,133 5,956,700 3,976,588 3,091,130 8,922,549 7,277,453 2,422,406 5,623,498 3,916,467 4,134,556
2,019 2,020 43,012 CITY CITY OF CUPERTINO 35,468,863 1,921,154 3,858,159 2,570,373 5,389,864 952,154 2,686,399 4,753,963 5,479,333 687,693 1,262,318 4,314,492 1,592,961
2,018 2,019 43,012 CITY CITY OF CUPERTINO 31,799,696 2,075,409 2,851,069 2,453,786 2,476,533 4,414,735 3,226,075 3,352,444 3,095,837 1,939,786 2,007,724 1,112,236 2,794,064
2,017 2,018 43,012 CITY CITY OF CUPERTINO 32,881,731 1,739,800 2,319,800 3,460,177 1,848,800 2,465,100 4,064,251 2,577,700 3,261,200 4,893,131 1,814,100 2,403,083 2,034,589
2,016 2,017 43,012 CITY CITY OF CUPERTINO 29,166,865 1,859,500 2,479,200 2,277,383 1,973,500 2,631,200 2,172,281 2,029,600 2,706,000 4,287,362 1,590,700 2,120,800 3,039,339
2,015 2,016 43,012 CITY CITY OF CUPERTINO 23,022,265 1,179,000 1,571,900 3,365,382 1,634,300 2,179,200 1,862,615 2,027,500 2,703,200 202,679 1,543,800 2,058,400 2,694,289
2,014 2,015 43,012 CITY CITY OF CUPERTINO 21,214,591 1,211,000 1,612,100 1,492,016 1,145,200 1,526,900 3,434,985 1,524,400 2,032,400 3,254,391 1,197,000 1,596,000 1,188,199
2,013 2,014 43,012 CITY CITY OF CUPERTINO 18,775,203 1,225,300 1,587,600 1,646,438 1,412,600 1,883,500 1,010,339 1,692,600 2,256,800 643,255 890,900 1,187,800 3,338,072
2,012 2,013 43,012 CITY CITY OF CUPERTINO 18,887,134 1,164,800 1,553,100 1,522,162 1,093,000 1,457,300 2,641,360 1,401,200 1,868,200 2,364,667 1,146,200 1,528,200 1,146,945
2,011 2,012 43,012 CITY CITY OF CUPERTINO 17,674,875 1,163,300 1,551,100 2,120,998 1,028,400 1,371,200 1,393,220 1,084,400 1,445,900 2,202,322 867,800 1,157,100 2,289,135
2,010 2,011 43,012 CITY CITY OF CUPERTINO 15,153,968 778,400 1,037,900 2,207,641 747,800 1,135,500 2,109,914 840,600 1,120,800 1,672,909 700,800 1,027,800 1,773,904
Revenue Tax Sharing Agreement Reported by Jurisdictions
Fiscal Year End Date Jurisdiction Code Jurisdiction
06/30/2024 43012 CITY OF CUPERTINO
06/30/2024 43012 CITY OF CUPERTINO
Name(s) of any parties to the tax revenue sharing agreement Agreement Execution Date
Apple Inc 12/19/2013
Insight Consulting Services Inc 12/29/2006
Agreement Termination Date Total dollar amount rebated after the date of execution
12/19/2033 BAZ (Apple Inc) $64,755,499.70
06/30/2025 Insight Consulting Services Inc $7,639,543.05
Total dollar amount rebated during the fiscal year
BAZ (Apple Inc) $0
Insight Consulting Services Inc $595,710.40
Percentage used to determine the rebated amount to each party in the tax share agreement
35%
Insight Consulting Services Inc 25% - 40%
Percentage used to determine rebated amount to any other person that is not a party in the tax revenue agreement
0%
0%
Is information published on the jurisdiction website's homepage as required?
Yes
Yes