Posted on 08/25/2008 9:54:56 AM PDT by SmithL
Oakland's finances appear to be far worse than suspected.
Former City Manager Robert Bobb, who has parachuted into town at the request of Mayor Ron Dellums to try to sort out the fiscal mess, has discovered that Oakland's reserves have been drawn down by as much as $48 million in the past year, and accounting for most of the missing funds hasn't been easy.
Just last year, Bobb said, the city reported a reserve of between $60 million and $70 million, but as of June, the account had dipped to $22 million.
Bobb said that as far as he's been able to figure out, recently ousted City Administrator Deborah Edgerly and her staff told the City Council that they intended to use $15 million to $17 million in reserves to help cover funding shortages. That would still leave at least $21 million unaccounted for.
"That's the story we are still trying to unfold," Bobb said.
But City Councilwoman Jean Quan, who chairs the budget committee, said she and some of her colleagues understood that at least $30 million had been drawn from reserves. Edgerly hoped to be able to replenish the fund this year, but the economy tanked, Quan said.
"It's not like the money was stolen," Quan said.
City departments were recently asked to come up with 15 percent cuts to help close a deficit of $40 million to $60 million. But Bobb said that even with the cuts, the city is still $20 million to $30 million short of what's needed to balance the budget.
One area certain to be hit hard is park maintenance, which took a $12 million hit when a new lighting district bond was ruled invalid.
As for what other services will cut and which taxes and fees will be raised - that's anybody's guess.
(Excerpt) Read more at sfgate.com ...
at least $21 million unaccounted for
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Hey, ammo’s not cheap when you’re supporting a guerilla war..
Oakland .. The Raiders got nothing on these hooligans.
What do you expect when the Mayor of the city of Oakland, Ron “Vernie” Dellums, is an actual card carrying socialist.
“Dellums was the first African American elected to Congress from Northern California and the first openly socialist Congressman since World War II.[1]” Wikapedia
I live in Oakland, for now.
There is murder, gang violence, poverty, illegal aliens and a “green” movement afoot to save us from Global Warming.
Not mention a 37% dropout rate.
Liberals never, ever understand that when nearly 80% of children qualify for free lunches, then there is a problem.
Instead of cracking down on illegals, welfare abuse and lessending the tough zoning/business envionment, they continue to pander to Socialist causes and scratch their heads as 7 people were shot on Saturday, alone.
Don’t forget, if Al Davis doesn’t sell out, Oakland/Alameda County make him whole as if he did sell out.
My father in law has a shop in deepest, darkest Oakland that he rents out, he gets fined monthly for grafitti done by Latino gang bangers who are clearly here, just to work... selling heroin.
To say I want to move is mild...my wife and I are selling next year, hopefully.
Newly elected Rep. Ron Dellums spoke to my West Point class in 1972, and I heard him call for the armed overthrow of the federal government. Bohsie not just socialist.
This was Jerry Brown’s latest stomping grounds before being elected Attorney General. Smoke and mirrow comes to mind.
Right.
And there is a big red bridge across the bay for sale.
I'd forward the bill right back to city hall and cc the cops. Appears they aren't doing their job.
Nothing like being punished for someone else's actions.
Another Blue City success story!
But, surely not at the expense of widows and orphans?
Deborah Edgerly...... Don’t let this porker escape without ....... She knows everything
Last I heard she was being investigated for tipping off a drug dealer nephew about a police raid
I thought Jerry Brown wuz gonna turn that place around
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