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San Francisco LAFCO adopts FY2014–15 budget; commissioners debate reserve level
Summary
The San Francisco Local Area Formation Commission approved its FY2014–15 final budget, accepted staffrecommendations and discussed whether to return reserve funds to the city; commissioners were told reserves are about $300,000 while typical annual spending is roughly $100,000 to $125,000.
The San Francisco Local Area Formation Commission approved its final budget for fiscal year 2014–15 and discussed whether to return reserve funds to the city and county or retain them for future projects.
Jason Fried, LAFCOexecutive officer, presented the budget at the meeting's second required hearing and identified a $44,445 reduction tied to changes in city staffing and how LAFCOinteracts with city departments. Fried said state mandate sets a minimum request amount and that the commission currently has approximately $300,000 in reserves.
"We could go one more year if we wanted to return the money," Fried said, adding that typical spending has been "about 100, 125 a year" (approximately $100,000 to $125,000) with most costs covering clerk's office services and back-office support. He said if the commission wanted to undertake additional studies or non-CCA projects, it would need to consider the effect on the reserve.
Commissioners discussed options including returning all or part of the reserve to the city and county or retaining a portion and establishing a formal reserve policy at a future meeting. With no public comment, a motion to accept staff's recommendation and approve the budget was made, seconded by Commissioner Bridal, and carried without objection.
Next steps identified were to monitor spending patterns during the fiscal year and consider a reserve policy at a future LAFCO meeting if commissioners wish to change the current practice of returning funds.
Provenance: Item 4 was introduced in the transcript as "Item number 4, consideration and approval of the final LAFCO budget for fiscal year 20 fourteen-twenty 15."
