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Committee reviews fiscal sustainability strategies; staff asked to model adding public‑safety and building‑maintenance categories
Summary
The Finance Committee reviewed the city’s fiscal sustainability strategies (currently a 12% set‑aside of general fund revenues) and asked staff to model possible modifications — including adding categories for public safety facilities and deferred building maintenance and presenting flat-dollar alternatives to percentage allocations.
The Finance Committee on April 29 examined the City’s fiscal sustainability strategies — a framework adopted in 2022 that allocates a portion of general fund revenue to four categories: CalPERS pension prefunding, retiree medical prefunding, deferred streets maintenance and deferred parks maintenance — and directed staff to return in May with modeling of alternate allocations and new category options.
Director of Finance Sarah Castro reviewed the strategies’ history and outcomes. Castro said the framework has guided about $36.1 million in contributions over recent years (roughly 12% of general fund revenues over that period) split across pension prefunding (PERS 115 trust), retiree health savings, deferred streets maintenance and deferred parks…
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