City of Oakland - File #: 09-0452

• File #: 09-0452
• Version: 1
• Name: General Purpose Fund Clarification
• Type: Ordinance
• Status: Introduced In Council
• File created: 5/14/2009
• In control: Concurrent Meeting of the Oakland Redevelopment Agency / City Council
• On agenda: 6/16/2009
• Final action: 11/6/2014
• Title: Subject: General Purpose Fund Clarification From: Councilmember Jean Quan Recommendation: Discussion And Consideration Of 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 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)

Date	Ver.	Action By	Action	Result
6/9/2009	1	*Special Concurrent Meeting of the Redevelopment Agency and Finance and Management Committee	Approved as Amended the Recommendation of Staff, and Forward	Pass
5/26/2009	1	*Finance & Management Committee	Continued	Pass
5/14/2009	1	*Rules & Legislation Committee	Scheduled

Title

Subject:      General Purpose Fund Clarification

From:            Councilmember Jean Quan

Recommendation: Discussion And Consideration Of 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 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)