c 20-0335 Subject: Suspend Requirements And Use Of Reserve Funds In Consolidated Fiscal Policy
From: Finance Department
Recommendation: Adopt A Resolution: 1. Suspending Section 1, Part C Of The City Of Oakland Consolidated Fiscal Policy (Ordinance No. 13487 C.M.S.), Which Requires A Percentage Of The City's Excess Real Estate Transfer Tax To Be Allocated To The Vital Services Stabilization Fund And Used To Fund Debt Retirement And Unfunded Long-Term Obligations, For Fiscal Years 2018-19, 2019-20, And 2020-21; And 2. Authorizing The Use Of Vital Services Stabilization Reserve Funds For Fiscal Year 2020-21 Pursuant To Section 2, Part B Of The City Of Oakland Consolidated Fiscal Policy
I would like to support the careful consideration of our budget dilemmas, with particular attention to opportunities for the public to understand and weigh in on budget decisions, despite the temporary (I hope!) suspension of the Sunshine Ordinance. I am especially concerned that any proceeds from the recently-passed parcel measure, known as Measure Q, not be diverted from their intended use to support parks maintenance and services for the homeless.
I would like to support the careful consideration of our budget dilemmas, with particular attention to opportunities for the public to understand and weigh in on budget decisions, despite the temporary (I hope!) suspension of the Sunshine Ordinance. I am especially concerned that any proceeds from the recently-passed parcel measure, known as Measure Q, not be diverted from their intended use to support parks maintenance and services for the homeless.