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We’ve received a draft copy of the report the Fiscal Sustainability Committee will make to Alameda City Council on Tuesday night. See it online.
We’ve not been able to fully digest the document yet, but if you were expecting hard answers from the Fiscal Sustainability Committee, fuggedaboutit! At first glance, this document raises more questions than it answers. (Typical committee work.) It does, at least, acknowledge the controversy over redevelopment debt financing, which constitutes the largest portion of Alameda’s debt. (Although, the redevelopment numbers don’t jive exactly with the numbers provided in the City Manager’s May 19 report to City Council. It looks like the Fiscal Sustainability Committee chose to report only principal, and not interest, thereby understanding the debt amount.)
But enough teasing…here is the report.
You mean the FISCAL UNSUSTAINABILITY Committee Report, don’t you?
Exactly. Look at the bottom line on the ten year forecast….nothing but red. Can you believe this report is the product of a roughly $50,000 to $75,000 budget. (We will re-locate the link to this and publish it.)
Here it is – a $50,000 budget for this report was established in June of last year.
The City website, being what it is, doesn’t provide a direct link. The file is cc_sub_1048.pdf
Regular City Council Meeting
Tuesday June 3rd, 2008
5-E. Recommendation to establish a Fiscal Sustainability Committee. (Development Services) [ view item ]
The committee may also require a part-time
facilitator and certain consulting specialists , including a Bay Area economist and a sales
tax and special use tax consultant. The total cost for support services is estimated at
$50,000. The Development Services Department has proposed $100 000 for strategic
planning in the FY 2008-09 Community Improvement Commission (CIC) budget.