May 27, 2025Board meeting agenda packet
Finance & Management Committee Agenda Report
The committee reviewed the Five-Year Financial Forecast for Fiscal Years 2026-30 for the City of Oakland. The report outlines projected revenues and expenditures, highlighting a structural deficit in the General Purpose Fund driven by escalating costs for pensions, insurance, and medical benefits. The forecast incorporates the impact of the newly approved Measure A and discusses risks such as national economic uncertainty, tariffs, and potential recessions. It emphasizes the need for sustainable budget practices and long-term strategies to address the projected structural imbalances and maintain effective service levels.