Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Budget topic
No spam. Unsubscribe anytime.
LAFCO approves FY2017–18 budget, reserves funds to study municipal bank
Summary
The commission approved a $297,342 FY2017–18 budget and agreed to retain at least $194,000 — including an additional ~$50,000 to start a municipal bank study — while noting the reserve is contingent on extension of an MOU with the SFPUC.
The San Francisco Local Agency Formation Commission approved a final fiscal-year 2017–18 budget of $297,342 and agreed to reserve at least $194,000 of that allocation so the commission can fund anticipated work next year, including an initial study of a proposed municipal bank.
Executive Officer Jason Fried said the base request from the city and county is $297,342 and recommended keeping the standard $144,000 baseline while adding an additional $50,000 to fund extra staff time, outside legal advice and possible consultant support for the municipal bank study. Fried said the $50,000 is intended to cover year-one scoping work and that future funding will be reconsidered in subsequent budget cycles.
Commissioners discussed the contingency that the additional retention depends in part on extension of an existing memorandum of understanding with the San Francisco Public Utilities Commission that provides additional CCA-related funds. Fried and counsel clarified that if the MOU is not extended the commission may need to retain more funding and return less to the general fund.
Public commenters and advocates (including Jed Holtzman and Eric Brooks) reminded the commission that LAFCO previously funded studies — citing an outside EnerNex study used for Clean Power SF — and urged the commission to be realistic about consultant costs. The commission approved the budget motion without objection.
What happens next: The commission will reserve funds in FY2017–18 as approved and revisit funding for subsequent years depending on MOU status and study needs.
