Reserves / Das & Dan
[ Excerpt from SBN-P article, 11/26/05, By JOSHUA MOLINA ]
... Santa Barbara's budget forecast looks a little less bleak.
Revenues are expected to be higher than originally believed. Coupled with lower pension payments next fiscal year, the city now plans to eat up about $5.7 million of its budget reserves through 2009 -- down from about $7.2 million that it last projected...
Still, at this pace, the city plans to break its own policy for the minimum amount to maintain in its budget reserves.
The policy states that the budget reserves should be at least 10 percent of the overall general fund. In 2009, the city projects a budget of $100.4 million, which would mean that it would need to have at least $10 million in budget reserves.
As of today, the city projects about $4.9 million in the reserve bank. The city has a separate "disaster" reserve budget that is projected to have about $16 million in 2009, and the city does not plan to touch that money.
New numbers were presented to the city's Finance Committee this week, in a meeting that featured a biting exchange between Councilmen Dan Secord and Das Williams...
The brighter budget picture may bring more hope for supporters of a proposed living wage ordinance. The matter is expected to return to the City Council next year.
At this week's meeting of the Finance Committee -- made up of Dr. Secord, Mr. Williams and Councilman Roger Horton -- living wage proponent Harley Augustino took a seat at the table alongside the committee and members of the city staff.
Toward the end of the meeting, Mr. Augustino asked questions about the budget but then made comments about the upcoming living wage discussion.
Dr. Secord abruptly cut him off.
"Harley, it's over. You're done," Dr. Secord said. "When you started making a speech, your comments are over."
The activist tried to speak again, but Dr. Secord, chair of the committee, called on Mr. Horton, who had an unrelated question.
Mr. Williams then interrupted Mr. Horton, saying, "Hold on a moment."
"It's not irregular for us to allow people to make speeches," Mr. Williams told Dr. Secord.
Dr. Secord retorted, "What do you want to do about it?"
Attempting to defend Mr. Augustino, Mr. Williams said the activist should be given time to speak, regardless of whether he was making a "speech" or not, suggesting that it was inappropriate to cut off a member of the public.
Dr. Secord told Mr. Williams, "No, I don't want to."
Dr. Secord added that Mr. Augustino was free to go to the full council meeting and make a speech if he desired.
Mr. Augustino, looking perplexed, just smiled. The meeting ended a few minutes later.
Mr. Augustino did not return to the full council meeting later in the day.
S.B. expects to use less of its reserves
... Santa Barbara's budget forecast looks a little less bleak.
Revenues are expected to be higher than originally believed. Coupled with lower pension payments next fiscal year, the city now plans to eat up about $5.7 million of its budget reserves through 2009 -- down from about $7.2 million that it last projected...
Still, at this pace, the city plans to break its own policy for the minimum amount to maintain in its budget reserves.
The policy states that the budget reserves should be at least 10 percent of the overall general fund. In 2009, the city projects a budget of $100.4 million, which would mean that it would need to have at least $10 million in budget reserves.
As of today, the city projects about $4.9 million in the reserve bank. The city has a separate "disaster" reserve budget that is projected to have about $16 million in 2009, and the city does not plan to touch that money.
New numbers were presented to the city's Finance Committee this week, in a meeting that featured a biting exchange between Councilmen Dan Secord and Das Williams...
The brighter budget picture may bring more hope for supporters of a proposed living wage ordinance. The matter is expected to return to the City Council next year.
At this week's meeting of the Finance Committee -- made up of Dr. Secord, Mr. Williams and Councilman Roger Horton -- living wage proponent Harley Augustino took a seat at the table alongside the committee and members of the city staff.
Toward the end of the meeting, Mr. Augustino asked questions about the budget but then made comments about the upcoming living wage discussion.
Dr. Secord abruptly cut him off.
"Harley, it's over. You're done," Dr. Secord said. "When you started making a speech, your comments are over."
The activist tried to speak again, but Dr. Secord, chair of the committee, called on Mr. Horton, who had an unrelated question.
Mr. Williams then interrupted Mr. Horton, saying, "Hold on a moment."
"It's not irregular for us to allow people to make speeches," Mr. Williams told Dr. Secord.
Dr. Secord retorted, "What do you want to do about it?"
Attempting to defend Mr. Augustino, Mr. Williams said the activist should be given time to speak, regardless of whether he was making a "speech" or not, suggesting that it was inappropriate to cut off a member of the public.
Dr. Secord told Mr. Williams, "No, I don't want to."
Dr. Secord added that Mr. Augustino was free to go to the full council meeting and make a speech if he desired.
Mr. Augustino, looking perplexed, just smiled. The meeting ended a few minutes later.
Mr. Augustino did not return to the full council meeting later in the day.
S.B. expects to use less of its reserves
Posted by Malcolm on
11/28/2005
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