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Committee advances financial‑policy package: nonrecurring revenue limits, debt cap and two‑year budgeting (as amended)
Summary
The committee advanced a package of ordinances and a resolution to codify rules on nonrecurring revenues, set a 3.25% cap on general‑fund‑backed debt subject to a two‑thirds exception, harmonize budget calendars, and allow enterprise departments to adopt fixed two‑year budgets with a 5% trigger for adjustments; the budget analyst urged narrowing the controller’s discretion, and public commenters urged preserving flexibility for safety‑net programs.
The Budget and Finance Committee considered four related measures to strengthen the city's fiscal framework: (1) a nonrecurring revenue policy to restrict certain one‑time revenues (sale of land, abnormal fund‑balance peaks, prepayments) to nonrecurring expenditures; (2) a debt‑management policy establishing a 3.25% cap on general‑fund‑backed debt (with an exception available by two‑thirds Board vote and exclusions for debt that produces general‑fund savings or is backed by nondiscretionary revenue); (3) updates to…
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