File #: 24-0534    Version: Name:
Type: City Resolution Status: In Rules Committee
File created: 6/5/2024 In control: Special Concurrent Meeting of the Oakland Redevelopment Successor Agency/City Council
On agenda: 6/26/2024 Final action:
Title: Subject: FY 2024-25 Proposed Midcycle Budget Legislation From: Finance Department Recommendation: Adopt A Resolution: 1. Adopting The Midcycle Budget For Fiscal Year 2024-25 And Appropriating Funds To Cover Expenditures Approved By Said Budget; 2. Authorizing The City Administrator To Transfer Funds Between Departments, Programs And Funds As Necessary To Support Departmental Reorganization As Set Forth In The Adopted Policy Budget For Fiscal Year 2024-25; 3. Creating The Following Funds: Fund 4510 - Personnel Management Fund, Fund 5338 - Measure KK Infrastructure Series 2024E GOB (Tax Exempt), Fund 5342 Measure U: Infrastructure Series 2024 B-1 GOB (Tax Exempt), Fund 5343 - Measure U: Affordable Housing & Infrastructure Series 2024B-2 GOB (Taxable); 4. Taking All Steps Necessary To Apply For And Receive Additional Funds Required To Advance And Complete The Projects Identified In The Capital Improvement Program And Accept And Appropriate Any Additional Funds Provide...
Sponsors: Finance Department
Attachments: 1. View Errata Report - 6/25/2024, 2. View Legislation - 6/25/2024, 3. View Exhibit 3: Contingency Budget Changes - 6/25/2024, 4. View Errata Exhibit 1: Errata Detail Changes - 6/25/2024, 5. View Attachment A: OPD Breakdown For Errata - 6/25/2024, 6. View Alternative Report: (Excluding Sale Of Coliseum) - 6/25/2024, 7. View Alternative Attachment A - Exhibit 1: Alternative Detail Changes - 6/25/2024, 8. View Alternative Attachment B - 6/25/2024, 9. View Supplemental Budget Memo - D2 Bas, D1 Kalb, D3 FIfe, D6 Jenkins - 6/21/24, 10. View Supplemental Budget Spreadsheet - D2 Bas, D1 Kalb, D3 Fife, D6 Jenkins - 6/21/24, 11. View Supplemental (PEC) Memo & Exhibit 2 - D2 Bas And D1 Kalb- 6/21/24, 12. View Spreadsheet - D4 Ramachandran, 13. View Supplemental Budget Memo- D4 Ramachandran - 6/20/24, 14. View Supplemental Budget Memo - D4 Ramachandran, D5 Gallo, D7 Reid-6/20/24, 15. View Supplemental Powerpoint: D4, D5, D7 - 6/20/24, 16. View Supplemental Budget Spreadsheet - D4 Ramachandran D5 Gallo D7 Reid - 6/24/24, 17. View Supplemental Budget Memo - D7 Reid - 6/24/24, 18. View Supplemental Budget - At Large Kaplan - 6/20/2024, 19. View Supplemental Budget Policy Directives - At Large Kaplan - 6/24/2024, 20. View Supplemental Cover Letter - Budget Advisory Commission - 6/24/2024, 21. View Supplemental Powerpoint Presentation - Budget Advisory Commission - 6/24/2024

Title

Subject:                     FY 2024-25 Proposed Midcycle Budget Legislation

From:                                          Finance Department 

Recommendation: Adopt A Resolution:

 

1.   Adopting The Midcycle Budget For Fiscal Year 2024-25 And Appropriating Funds To Cover Expenditures Approved By Said Budget;

 

2.   Authorizing The City Administrator To Transfer Funds Between Departments, Programs And Funds As Necessary To Support Departmental Reorganization As Set Forth In The Adopted Policy Budget For Fiscal Year 2024-25;

 

3.    Creating The Following Funds: Fund 4510 - Personnel Management Fund, Fund 5338 - Measure KK Infrastructure Series 2024E GOB (Tax Exempt), Fund 5342 Measure U: Infrastructure Series 2024 B-1 GOB (Tax Exempt), Fund 5343 - Measure U: Affordable Housing & Infrastructure Series 2024B-2 GOB (Taxable);

 

4.   Taking All Steps Necessary To Apply For And Receive Additional Funds Required To Advance And Complete The Projects Identified In The Capital Improvement Program And Accept And Appropriate Any Additional Funds Provided That Such Acceptance Is Consistent With And Does Not Otherwise Negatively Impact The City’s Capital Improvement Program;

 

5.   Declaring A State Of Extreme Fiscal Necessity And The Existence Of A Severe And Unanticipated Financial Event;

 

6.   Suspending For Fiscal Year 2024-2025 The Charter Mandated Minimum Staffing Budget Set Asides For The Office Of The City Auditor; And

 

7.   Suspending The Minimum Budget Set Asides For The Democracy Dollars Fund And For Non-Staff Costs Related To The Public Ethics Commission’s Administration Of The Oakland Fair Elections Act’s Democracy Dollars Program;

8.   Adopting A Contingency Budget And Associated Fiscal Measures That Shall Take Effect No Later Than October 1st 2024 If Anticipated Revenue From Land Sales Is Not Available By September 1st 2024