May 4 2012

The Budget Advisory Committee Picks 8 Topics

At its last meeting the Budget Advisory and Financial Planning Committee (BAFPC) selected 8 critical budget topics for in-depth review.  A draft of each topic will be prepared by individual committee members and presented for discussion at the next May 8, BAFPC meeting.

  • City parcel tax
  • Sewer surcharge or general fund transfer
  • CalPERS medical retiree benefit and pension contributions
  • Community pool
  • Property tax and transfer tax revenues
  • Reducing interest rate costs by financing CalPERS “side” payments
  • Capital funding of equipment, facilities, etc.
  • Salary and turnover impacts

The BAFPC’s meeting on May 1 included a review of 5-year budget projections.  The committee had an in-depth discussion with staff, examining 5-year projections, assumptions, and alternatives. The City has confirmed it can borrow short term (less than 12 months) in anticipation of tax revenues, but any “full faith and credit” loan for 12 months or more generally requires a vote of the people pursuant to the Charter.

Three committee members were present Tim Rood, Bill Hosler and Tom Lehrkind, along with Mayor John Chiang.  Council Member Jeff Wieler was also present in the audience.

The May 8 meeting begins at 6:00 pm in the City Hall Conference Room.  There will be no minutes, recordings, or broadcast of the meeting.  Agenda materials did not accompany the notice of the meeting.  Those interested in listening to the discussion need to attend the meeting.

The agenda for the next May 8 meeting is:
1.   Review and Discussion of the proposed FY 2012-13 budget for the City of Piedmont
2.  Review and Discuss five year projections regarding general fund revenue, expenditures and transfers including assumptions, risk factors and potential upsides
3.   Discussion regarding the Committee’s report to City Council

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