$3.2 Billion Oakland Budget Proposal

OAKLAND, CA — Oakland Mayor Libby Schaaf and City Administrator Sabrina Landreth on Wednesday released a proposed $3.2 billion budget for the next two fiscal years.

"The fiscal year 2019-21 proposed policy budget meets our financial obligations and reflects our shared values and priorities as Oaklanders," Schaaf and Landreth said in a prepared statement.
Schaaf and Landreth said, "The $3.2 billion plan makes unprecedented investments to address our homeless crisis, build affordable housing post-redevelopment, strengthen anti-displacement efforts and pave our roads."

The mayor and city administrator said, "This budget also makes an ongoing commitment to paying down the city's retiree medical un-funded liabilities, which combined with pension un-funded liabilities totals more than $2.7 billion.

Schaaf and Landreth added, "This budget was also able to close a projected $93 million gap by growing revenues, right-sizing fees and successful advocacy for grant funding."

They said key expenditures in their budget plan are $21.3 million to address homelessness, $55.4 million for affordable housing, $74.5 million on children and Oakland schools, $110.6 million for street paving and transportation, $16.2 million for fire prevention and emergency services and
$2.9 million for economic and workforce development.

The Oakland City Council will vote on the proposed budget before the new fiscal years begin on July 1.

— Bay City News

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