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Agenda Item
5.2 24-0448 Subject: General Purpose Fund Major Revenue Sources Overview Report
From: Finance Department
Recommendation: Receive An Informational Report And Recommendation Providing An Overview On General Purpose Fund Major Revenue Sources
It is time the Mayor & City Council sat themselves down and figured out how Oakland should be managing the revenue it receives from taxpayers. The City should not be engaging in imaginative accounting procedures to make its spending look reasonable. Using capital improvement funds to pay interest on bonds is foolish; it means no new capital will be available to fund housing, parks and restoration of buildings. Using capital earned from the sale of the coliseum to pay operating expenses (is there any possibility the sale price will not be paid?) is just kicking the can down the road. Encouraging departments to spend less than was appropriated means some projects approved by the citizens will not be undertaken. The Information Technology Department should be spending their funds on getting 911 up and working.
At some point the City will have to reconcile revenues and expenses. Why not do it now? The Council should also reassess its priorities. The City should be providing basic services like fixing roads, policing, and fire fighting. I haven’t seen any mention of cutting the Department of Violence Prevention funds although I have seen stories about how the money is not being used efficiently.
Please go back to the drawing board . .
It is time the Mayor & City Council sat themselves down and figured out how Oakland should be managing the revenue it receives from taxpayers. The City should not be engaging in imaginative accounting procedures to make its spending look reasonable. Using capital improvement funds to pay interest on bonds is foolish; it means no new capital will be available to fund housing, parks and restoration of buildings. Using capital earned from the sale of the coliseum to pay operating expenses (is there any possibility the sale price will not be paid?) is just kicking the can down the road. Encouraging departments to spend less than was appropriated means some projects approved by the citizens will not be undertaken. The Information Technology Department should be spending their funds on getting 911 up and working.
At some point the City will have to reconcile revenues and expenses. Why not do it now? The Council should also reassess its priorities. The City should be providing basic services like fixing roads, policing, and fire fighting. I haven’t seen any mention of cutting the Department of Violence Prevention funds although I have seen stories about how the money is not being used efficiently.
Please go back to the drawing board . .