File #: 09-0499    Version: Name: Changes To Financial Policies
Type: Ordinance Status: Passed
File created: 5/29/2009 In control: Concurrent Meeting of the Oakland Redevelopment Agency / City Council
On agenda: 6/30/2009 Final action: 6/30/2009
Title: Subject: Changes To Financial Policies From: The Budget Office Recommendation: Adopt An Ordinance Amending Ordinance No. 12502 C.M.S. To Clarify General Purpose Fund (GPF) Reserve Requirements; Require A Mayoral Declaration Of Fiscal Emergency And Approval By Council Or A Council Declaration Of Fiscal Emergency Before The GPF Reserve Can Be Drawn Down; Require That Excess Real Property Transfer Tax Revenues Be Used To Build Up The GPF Reserve, Pay Back Negative Internal Service Fund Balances, Establish Set-Asides For Other Post-Employment Benefits (OPEB) And Police And Fire Retirement System (PFRS) Liabilities, And Fund Capital Improvements Projects; Require That One-Time Revenues Be Used To Repay Negative Fund Balances In Internal Service And Other Funds; And Provide Criteria For Project Carryforwards And Encumbrances In The GPF (TITLE CHANGE)
Sponsors: Office Of The City Administrator
Attachments: 1. View Report.pdf, 2. View Supplemental Report.pdf, 3. View Supplemental Report.pdf, 4. View Supplemental Report.pdf, 5. 12946 CMS.pdf
Title
Subject:      Changes To Financial Policies
From:            The Budget Office
Recommendation: Adopt An Ordinance Amending Ordinance No. 12502 C.M.S. To Clarify General Purpose Fund (GPF) Reserve Requirements; Require A Mayoral Declaration Of Fiscal Emergency And Approval By Council Or A Council Declaration Of Fiscal Emergency Before The GPF Reserve Can Be Drawn Down; Require That Excess Real Property Transfer Tax Revenues Be Used To Build Up The GPF Reserve, Pay Back Negative Internal Service Fund Balances, Establish Set-Asides For Other Post-Employment Benefits (OPEB) And Police And Fire Retirement System (PFRS) Liabilities, And Fund Capital Improvements Projects; Require That One-Time Revenues Be Used To Repay Negative Fund Balances In Internal Service And Other Funds; And Provide Criteria For Project Carryforwards And Encumbrances In The GPF (TITLE CHANGE)