pages: RedevelopmentAgencyandFinanceandManagementCommittee/2009-06-09.pdf, 3
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RedevelopmentAgencyandFinanceandManagementCommittee | 2009-06-09 | *Special Concurrent Meeting of the Meeting Minutes June 9, 2009 Redevelopment Agency and Finance and Management Committee 6 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) 09-0452 Play Video A motion was made by Member Nadel, seconded by Member Kernighan, that this matter be * Approve as Amended the Recommendation of Staff, and Forward to the Concurrent Meeting of the Oakland Redevelopment Agency / City Council, due back on June 16, 2009 as a Non-Consent item. The motion carried by the following vote: Votes: Councilmember Aye: Member Kernighan, Member De La Fuente, Member Nadel and Chair Quan The Committee directed the City Attorney to provide alternative language that allows either the Mayor and/or the Council to Declare Fiscal Emergency. The following individual(s) spoke on this item: - Jeff Levin - Rachel Richman View Report.pdf View Supplemental Report.pdf View Supplemental Report.pdf City of Oakland Page 3 Printed on 7/2/09 | 3 | RedevelopmentAgencyandFinanceandManagementCommittee/2009-06-09.pdf |