The Facts About The Oakland Budget
- Projected Deficit for 2011-2013 is $58 million
- Annual Budget for FY 2011-12 is just under $1 Billion
- 58% of the budget are restricted funds
- Streets, housing development, sewer maintenance, Measure DD improvements on Lake Merritt
- These funds are collected from certain sources which has restricted spending: grants, fees, bonds, revenues
- 42% of the budget is the General Fund
- The $58 million budget deficit is in the General Fund
- Police and Fire, libraries, senior centers and recreation programs, elected offices
- These funds are collected primarily from property taxes
- Less than 1% of the 9.75% sales tax goes back to the city
- About 26 cents of every dollar of property tax goes to the city
Source: City of Oakland Website
The Facts About The San Francisco Budget
- The budget for the fiscal year 2011-12 $6.83 billion
- Budget deficit on $380 million from previous FY
- City Funds can be divided into 3 categories
- Governmental Funds- this includes the General Fund for discretionary spending
- Proprietary Funds
- Internal service funds- expense of good or services provided by one city department to another
- Enterprise funds- included SFO, Water department, General hospital
- Fiduciary Funds- resources held for the benefit of parties outside the city
Sources: SF Controller, San Francisco Examiner