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Agenda Item

4 21-0201 Subject: Analysis From Harvey Rose On Budget Items From: Council President Fortunato Bas And Vice Mayor Kaplan Recommendation: Receive An Informational Report From The Administration And Analysis From Harvey Rose Associates Containing The Following: (1) Which Administrative Reductions Were Implemented From December 20, 2020 Memo, (2) Which Administrative Restorations Were Made To Date, (3) Amount And Uses Of Additional Administrative Overspending Between First Quarter (Q1) And Second Quarter (Q2), (4) Amount Of Current General Purpose Fund (GPF) Shortfall, (5) Amount Needed To Restore The GPF Emergency Reserve To 7.5%, (6) New Real Estate Transfer Tax (RETT) Revenue, And Any Other Revenue Or Expenditure Amounts, Not Included In The Q2 Report, (7) Cash On Hand, (8) What Other Policies Are Triggered By Receiving New Funds (E.G., Is The City Required To Put 7.5% Of The Federal America Rescue Plan Act (ARPA) Funds Into Reserves? What Are Kids First Set-Asides?), (9) For What Purposes Can The ARPA Funds Be Spent, And (10) What Other New Funds (E.G., Special-Purpose) Are The City Of Oakland Receiving That Are Not Already Covered In The Budget