Press Release

Action PAC Committee To Support measure C
Contacts
Joe Smith, ACTION PAC 559-683-0212
Stell Manfredi, Madera County Executive Officer 559-675-7703

Madera County Confirms Town of Oakhurst Revenue Neutrality Agreement

The Madera County Executive Officer, Stell Manfredi confirms in a letter to the Action Committee to Incorporate Oakhurst Now (A.C.T.I.O.N.) the terms of the revenue neutrality agreement between the Town of Oakhurst and Madera County. A Revenue Neutrality agreement is required by state law when an unincorporated area wishes to incorporate and it is determined that the incorporated area is producing greater revenues to the county than the cost of the current services provided by the county to the unincorporated area. The Comprehensive Fiscal Analysis (CFA) produced for the Local Agency Formation Commission (LAFCo) shows a current Annual surplus of revenues from Oakhurst to the county of $1,986,041. Mr. Manfredi confirms “We have an agreement that sets the figure for revenue neutrality at 10 years worth of the annual surplus the county currently receives from the proposed incorporated area. Our agreement is for the Town to share excess revenue of $1 Million per year and any excess revenue above the projected revenues in the CFA in Sales Tax, Property Tax, and Transfer Occupancy Tax. If no increases in those tax revenues occur, the payments will not be required to be made until such time as the revenues are available. No interest is charged for deferred revenue payments, nor is there a set time frame for the completion of the payments”. The ACTIONPAC committee to support Measure C spokesperson Joe Smith stated “Some Nay Sayers are going around telling falsehoods about the Town budget. We thank Mr. Manfredi for clarifying this point to our citizens. Revenue Neutrality is the sharing of excess revenue, not debt and once the agreement is fulfilled the Town will have a windfall of almost $2 million per year. The fiscal picture is very bright for local control and the citizens of Oakhurst are the best people to decide how the revenues of the Town should be spent, not people from Madera”.