Fiscal Year 2013-2015 Special Budget Meeting

CITY OF OAKLAND FILED OFFICE OF THE C H t CI ER» O A K L A N D 2B13JUN2I AM 8:56 AGENDA REPORT TO: DEANNA J. SANTANA CITY ADMINISTRATOR FROM: Donna Hom SUBJECT: FY 2013-2015 Proposed Policy Budget DATE: June 21, 2013 City Administrator Approval Date SUPPLEMENTAL The purpose of this memorandum is to transmit to the full City Council a fifth set of responses to quesfions raised by City Councilmembers regarding the Fiscal Year (FY) 2013-2015 Proposed Policy Budget. To the extent that any additional informafion becomes available on any of the below questions or questions in past supplemental memorandums, we will continue to update the City Council accordingly. DISCUSSION General 1) Which Funds are not able to fund COLAs (Cost of Living Adjustments) or Wage Increases? The fiscal impact to provide funding for COLAs for those funds that currently have a negative fund balance is $3,984,869 plus approximately $900,000 in overhead costs for FY 2013-14 and $4,063,485 plus approximately $900,000 for overhead costs for FY 2014-15. Please refer to Attachment A for a detailed calculation by fund. Other non-negative funds would need to be rebalanced to absorb/fund a COLA. Revenue 1) Will the Administration Provide Another Revenue Update? The revenue figures in the Mayor's proposed budget are generally updated after the close of the 3'^' quarter of the fiscal year in conjunction with the quarterly expenditure and revenue report. The next general update of projected revenues and expenditures will be following the close of the current fiscal year, concurrent with the conclusion of the City's annual financial audit of the