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OaklandRedevelopmentAgencyAndCityCouncil,2009-06-16,"DRAFT
*Special Concurrent Meeting of the
Meeting Minutes
June 16, 2009
Oakland Redevelopment
Agency/City Council
16
Subject:
General Purpose Fund Clarification
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 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
09-0499
Play Video
A motion was made by Councilmember Quan, seconded by
Councilmember Kernighan, to Approved As Amended On Introduction to
the Concurrent Meeting of the Oakland Redevelopment Agency / City
Council, due back on June 30, 2009. The motion carried by the following
vote:
Votes: ORAICouncilmember Abstained: 1 - Councilmember Brooks
ORAICouncilmember Noes: 1 - Council President Brunner
ORAICouncilmember Ayes: 6 - Councilmember Kaplan, Councilmember
Kernighan, Councilmember Nadel, Councilmember Quan, Pro-Tem Reid and
Vice Mayor De La Fuente
Council amended the Ordinance to remove the $30 million dollar threshold as
the shortfall projection for declaring the Fiscal Emergency
The following individuals spoke on this item:
- Sanjiv Handa
- Jeff Levin
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City of Oakland
Page 24
Printed on 7/2/09",24,OaklandRedevelopmentAgencyAndCityCouncil/2009-06-16.pdf