Oakland City Council Mtg - 2024-06-12 - Budget Review - Part 2

2:17PM Jun 13, 2024

Speakers:

Brad Johnson (Budget Administrator)

Keywords:

I will say broadly to the broader fiscal questions. In terms of compliance with our consolidated fiscal policy, your consolidated fiscal policy states, we should not be using one time revenues for ongoing purposes. Your consolidated fiscal policy provides that you may waive that requirement. With a vote of five votes, one of the items that we need to take action on on the 26th is confirming the continuance of that existence of a state of extreme fiscal necessity. And I want to be clear, we are not in the state of fiscal emergency, the status extreme fiscal necessity, that's an important distinction. And by that confirmation, you may waive that policy. That's one of those pieces of legislations, we will want you to reaffirm at your meeting on the 26th as it relates to funding being transferred over from the general purpose fund, there are a number of there are a number of services that were transferred out of the general purpose fund, some of those transfers would be permanent in the creation of new internal service fund mechanisms. Some of them are temporary to utilize in an eligible way fund balances and other funds to preserve services. The other option, if we do not do those is to find additional reductions in other services in the general purpose fund in order to move those back. I will remind this body that after we were we complete this mid cycle, we will face a biennial budget. And tentatively we think that the structural deficit in the general purpose fund is in excess of $100 million dollars in each of the coming fiscal years. So we do have a structural problem, we will need to address that. And that will mean we will need to make hard decisions regarding the expenses that the city can afford. That is sort of I think I've covered a swath of those questions. I will try to get to the rest of them in writing. When we get a chance.