The San Leandro City Council will vote tonight on whether to approve the budget for 2010-2011 at its City Council meeting on June 7, 2010. The total budget of $125.2 million for the City of San Leandro includes the $69 million General Fund, plus the Redevelopment Agency, and Public Financing Authority.
A public hearing will be held to "take public testimony regarding the City Manager's Proposed Budget" prior to input from the City Council and the vote on whether to adopt the budget.
According to the staff report, "The Proposed Budget for the General Fund revenues are projected to be $66.5 million," and expenditures are "now projected to be $69 million in 2010-2011." One-time funds from reserves and a $0.5 million transfer from the City's self-insurance fund are being used to close the $2.5 million difference between expenditures and revenues.
The City Council has used reserves to balance the City's budget for the previous three years as the deteriorating economy has cut into sales and property taxes, which provide the bulk of the City's revenue. City Manager Steve Hollister and the City Council have agreed to maintain at least a $5 million emergency fund, which is technically part of the reserve, but with the intent to only use that money for emergencies such as earthquakes.
The City Council will also vote on whether to approve the budgets for the City of San Leandro Redevelopment Agency ($15.2 million) and the City of San Leandro Public Financing Authority ($2.47 million). Each of these agencies has separate budgets that are not intermingled with the General Fund, but are still controlled by the City Council.
The Redevelopment Agency is funded by a portion of the property tax growth in San Leandro's three redevelopment areas: Plaza, West San Leandro/MacArthur Boulevard, and Alameda County-City of San Leandro. According to the Staff Report, Revenue for the Redevelopment Agency declined by 3% last year and is expected to be flat next year. As part of California's efforts to balance the state budget, the Redevelopment Agency has had to give the state $4.2 million this year and will give the state $900,000 next year. The Redevelopment Agency purchased the former Albertson's site at 1550 E. 14th Street, funded construction of the new Senior Community Center on E. 14th Street, and provided a loan to Bridge Housing for the now-stalled San Leandro Crossings Project.
The Public Financing Authority receives revenue from lease payments from the General Fund, which are listed as "Use of money and property" in the Staff Report. Projects undertaken by the Public Financing Authority include seismic retrofitting of City Hall, three fire stations and the Police Department building, and expansion of the Main Library and acquiring two replacement fire stations.
In other actions, the City Council will vote on calling for bids for repair of walkways at city parks, street repairs of Bancroft Avenue between 138th and 148th Avenue, and replacing the existing 2-story parking garage between Estudillo and Callan with a 4 or 5-story garage with 395 to 475 parking spaces.
The agenda for tonight's meeting can be downloaded from http://www.sanleandro.org/civica/filebank/blobdload.asp?BlobID=6419. The meeting is scheduled to start at 7pm and will be held in the City Council Chambers at 835 E. 14th Street.Posted by Mike Katz-Lacabe at June 7, 2010 12:20 PM | TrackBack