Attachment C
Attachment C
FY 2023-24 to
FY 2024-25
Revenue and
Expenditure (R&E)
Budget to Actual
Projections
Attachment C
Attachment C: FY 2022-24 to 2024-25 Revenue and
Expenditure (R&E) Preliminary Budget Projections
TABLE OF CONTENTS
The report has the following major sections:
1. FY 2023-24 to 2024-25 Revenue Projections by Category
2. FY 2023-24 to 2024-25 Revenue & Expenditures Budget Projections
Attachment C
BIENNIAL GPF REVENUE PRELIMINARY FORECAST
This section of the report provides a preliminary forecast for FY 2023-24 and FY 2024-25 city revenues. This is part of the staff's effort to inform stakeholders of potential slowdowns in revenue collections due to larger macroeconomic trends affecting current fiscal year revenues.
The biennial revenue forecast is based on current economic forecasts, and includes national economic forecasts published in September and October and the UCLA Anderson School’s California-specific economic forecast from mid-September. Most economists now expect a recession in Calendar Year 2023, as the Federal Reserve continues to fight inflation by tightening monetary policy and raising interest rates. The State’s Legislative Analyst’s Office (LAO) recently released its fiscal outlook report for the State’s 2023-24 upcoming budget cycle.
The fiscal outlook projects a $25 billion budget shortfall in the 2023-24 fiscal year due to rising inflation rates and constricted revenue projections, as well as anticipated deficits of $17 billion and $8 billion over the next two out years. A minor contraction in California’s economy is expected over the next calendar year, with 30,000 jobs lost statewide between Q4 2022 and Q4 2023 (or about 0.1%). Due to inflation, nominal per capita incomes are expected to continue rising over this period. Inflation is expected to moderate from about 6% in 2022 to just over 3% in 2023. These economic conditions are, in turn, expected to result in slower growth for most of the City’s revenue sources, including property taxes, parking and transient occupancy taxes.
Business taxes are expected to increase as a result of the passage of Measure T.
The following two revenue sources may be affected to a much greater extent from these macroeconomic trends.
Business Tax
The updated Business License Tax (BLT) estimate for FY 2022-23 uses the new Measure T rates, passed by Oakland voters on November 8, 2022. These rates will go into effect for the current fiscal year and will be applied to business revenues earned during calendar year 2022.
The Mid-Cycle revenue forecast, which was based on the prior BLT rates, estimated BLT revenues of $111.9M for FY 2022-23. During 2022, asking rents have remained below pre- pandemic levels while commercial vacancy rates have remained high. As a result, estimated revenue from residential and commercial landlords is now expected to be substantially lower than anticipated at the time the Mid-Cycle forecast was developed in Spring 2022. Expectations for personal income and taxable sales growth have also declined since the Spring, as Oakland consumers face higher borrowing costs due to rising interest rates and increased spending on necessities due to high inflation. Because of Measure T, however, BLT revenues are expected to increase by about $20 million in FY 2022-23, offsetting overall lower business revenues and the estimated losses from residential and commercial landlords to produce $120.3 million in BLT revenues for the current fiscal year.
Real Estate Transfer Tax
The second largest revenue source for the General Purpose Fund, Since 2019 Oakland has had a progressive Real Estate Transfer Tax (RETT). The tax rates vary from 1.0% for property transfers valued up to $300,000 up to 2.5% for properties valued above $5 million. RETT revenues can be volatile, with large fluctuations based on a handful of high-value transfers. For example, in the last fiscal year (FY 2021-22), there were only four real estate transfers valued at more than $50 million, yet these four transfers accounted for over $13 million in RETT Attachment C
revenues, or just over 10% of the RETT total. For the first quarter of the current fiscal year (July through September), both the number and value of transactions has decreased significantly.
The first quarter saw fewer transactions and lower RETT revenues than any quarter in FY 2021-
22. Compared to the first quarter of FY 2021-22, both the number of transactions and associated revenues decreased by over 30%. Higher interest rates and economic uncertainty are likely to result in continued softness in the real estate market through the remainder of FY 2022-23. This results in a revised estimate of $102.2 million in RETT revenues for the current fiscal year, down $10 million from the Mid-Cycle estimate of $112.2 million. By FY 23-24, RETT revenues are expected to rebound somewhat as inflation is reduced along with interest rates.
Table 1: FY2021-22 Year-End Revenue Actuals through FY2024-25 Revenue Forecast for the General Purpose Fund
General Purpose Fund
Revenue Category
FY21-22 Year-
End Actuals
FY22-23
Forecast
FY23-24
Forecast
FY24-25
Forecast
Property Tax 256.97 265.49 274.20 283.00
Real Estate Transfer Tax 138.40 89.76 115.20 117.00
Business License Tax 101.15 120.30 121.20 121.90
Sales Tax 63.78 62.74 65.50 66.60
Utility Consumption Tax 57.93 54.40 58.20 58.30
Service Charges 52.49 55.55 56.29 57.41
Fines & Penalties 20.28 19.00 19.10 19.40
Transient Occupancy Tax 16.66 23.99 22.40 24.50
Parking Tax 9.54 12.39 11.00 11.10
Interfund Transfers 3.01 70.91 0.00 0.00
Grants & Subsidies 1.85 0.00 0.00 0.00
Licenses & Permits 1.41 6.08 6.20 6.40
Miscellaneous Revenue 1.14 0.80 0.82 0.83
Interest Income 0.91 0.48 0.50 0.51
Vehicle License Fee 0.50 0 0 0
TOTAL 721.16 781.89 750.60 766.95
Attachment C
Table 2: FY2021-22 Year-End Revenue Actuals through FY2024-25 Revenue Forecast for All Funds
All Funds
Revenue Category
FY21-22 Year-
End Actuals
FY22-23
Forecast
FY23-24
Forecast
FY24-25
Forecast
Local Tax 290.08 328.84 329.90 330.90
Property Tax 268.65 277.60 289.10 297.90
Miscellaneous Revenue 228.11 0.58 121.79 124.22
Service Charges 225.00 224.79 220.05 224.45
Real Estate Transfer Tax 138.40 102.17 115.20 117.00
Business License Tax 101.15 120.34 121.20 121.90
Sales Tax* 95.01 97.60 98.30 100.00
Utility Consumption Tax 57.93 58.05 58.20 58.30
Licenses & Permits 32.81 27.57 28.20 28.80
Fines & Penalties 22.95 21.02 21.20 21.50
Transient Occupancy Tax 21.21 28.36 28.50 31.20
Parking Tax 18.10 19.33 19.40 19.70
Gas Tax 15.40 19.84 20.40 20.80
Vehicle License Fee 0.50 0.00 — —
Interest Income (0.93) 0.58 0.59 0.61
TOTAL 1,514.39 1,326.67 1,472.03 1,497.28
PRELIMINARY BIENNIAL OPERATING BUDGET DEFICITS
As the City looks ahead to the FY 2023-25 biennial budget process, baseline estimates indicate sizable budgetary deficits that will likely necessitate significant balancing actions by the Mayor and City Council in order to develop a balanced 2-year budget. In the General Purpose Fund (GPF), preliminary figures show approximately -$104 million deficit per year, or -$208 million over the FY 2023-25 biennium. For all funds, there is a estimated deficit of -$119 million in FY 2023-24 and -$130 million in FY 2024-25, for a total of -$250 million. Table 171 below lists preliminary FY 2023-25 surplus or deficit by fund.
The City’s most recent Five Year FY2021-22 to FY2025-26 Financial Forecast also projected large operating shortfalls for the biennium but it assumed that with an improving post pandemic economy revenue growth would outpace expenditure growth, resulting in the initial FY2021-22 shortfall decreasing each year throughout the five year forecast period. The 5 Year Forecast projected FY2023-24 to have a $64.40 million shortfall and FY2024-25 to have a $49.00 million dollar shortfall in the GPF. Table 170 below compares the current FY2023-25 Biennium Projections to those in the 5 Year Forecast.
Attachment C
Table 3 – Current Biennial Operating Budget Deficits Projections vs 5 Year Financial Forecast
Fund
FY2023-24
Operating
Shortfall –
5 Year
Forecast
FY2023-24
Operating
Shortfall –
Q1
Forecast
FY2023-24
Variance
FY2024-25
Operating
Shortfall –
5 Year
Forecast
FY2024-25
Operating
Shortfall –
Q1
Forecast
FY2024-25
Variance
General
Purpose
Fund (1010)
(64.40) (105.79) (51.39) (49.00) (102.50) (53.50)
One-time Funding Sources
Federal subsidies like the American Rescue Plan Act (ARPA) that provided the City with much needed fund allocations to replace revenue losses brought on by the effects of the pandemic, expires this fiscal year. In total, the City received $188 million of ARPA dollars that helped to close budget deficits since FY 2021. This leaves the City facing significant structural imbalances in the GPF and other funds as the federal aid falls off beginning in FY 2023-24. The City's budget also employed the one-time use of available fund balance to preserve key City services. With the one-time infusion of federal aid, the City was able to rebuild fund balances in the GPF and other funds. In the FY 2022-23 Midcycle Adopted Budget, however, $75.27 million in fund balance is used to balance the GPF, committing the full amount available. As noted in the FY 2023 Quarter 1 section of the report, the GPF fund balance is projected to end the current fiscal year at only $0.37 million, leaving very little fund balance to help close any anticipated budget gaps in the FY 2023-25 budget.
Labor Increases
Forecasted deficits include ongoing expenditures for the labor agreements that were approved in the FY 2023-23 Midcycle budget. These costs include Cost of Living Adjustments (COLAs), position-specific equity adjustments, premiums and other items. Assuming current staffing, fringe benefit and vacancy rates, the impact to the FY 2023-25 budget is an increase to ongoing expenditures of $77.6 million in the GPF and $114 million across all funds.
Other Impacts
This forecast does not take into account new legal mandates due to ballot measures adopted in 2022 or the impacts of expiring measures during the biennial timeframe. It also does not account for changes in state and federal aid, grants, and passthroughs which might be affect by fiscal conditions and policy changes at those levels.
Attachment C
Table 4: FY2023-24 to FY2024-25 Biennial Projections for All Funds Fund
Description
FY2023-24
Preliminary
Baseline
Revenue
FY2023-24
Preliminary
Baseline
Expenditure
FY 2023-24
Surplus /
(Deficit)
FY 2024-25
Baseline
Revenue
FY 2024-25
Baseline
Expenditures
FY 2024-25
Surplus /
(Deficit)
2-Year
Total
Surplus /
(Deficit)
1010 - General
Purpose Fund 750.60 856.39 (105.79) 766.95 869.45 (102.50) (208.29) 1011 - General
Purpose
Emergency
Reserve — — — — — — —
1020 - Vital
Services
Stabilization F 2.24 — 2.24 2.24 — 2.24 4.49
1030 - Measure
HH (SSBDT) 6.93 5.10 1.83 6.93 5.18 1.75 3.58
1100 - Self
Insurance
Liability 49.52 46.63 2.89
49.52 46.63 2.89 5.77
1150 - Worker's
Compensation
Insurance — (0.72) 0.72 — (0.56) 0.56 1.28
1200 - Pension
Override Tax
Revenue 118.41 93.09 25.33 118.44 94.26 24.18 49.51
1600 -
Underground
District
Revolving 0.19 — 0.19 0.19 — 0.19 0.37
1610 -
Successor
Redevelopment
Agency 1.19 1.21 (0.01) 1.19 1.25 (0.05) (0.06)
1700 -
Mandatory
Refuse Program 2.41 2.68 (0.27) 2.41 2.77 (0.36) (0.63) 1710 - Recycling
Program 6.45 5.81 0.64 6.45 5.99 0.45 1.09
1720 -
Comprehensive
Clean-up 24.21 26.93 (2.72) 24.21 27.60 (3.39) (6.11)
1750 -
Multipurpose
Reserve
10.92 9.93 0.99 10.92 9.71 1.21 2.19
1760 -
Telecommunicati
ons Reserve 1.58 1.68 (0.09) 1.58 1.73 (0.14) (0.24)
1770 -
Telecommunicati
ons Land Use 0.79 0.89 (0.10) 0.79 0.92 (0.13) (0.23)
1780 - Kid's First
Oakland
Children's 19.90 21.04 (1.14) 19.90 21.11 (1.21) (2.34) Attachment C
Fund
Description
FY2023-24
Preliminary
Baseline
Revenue
FY2023-24
Preliminary
Baseline
Expenditure
FY 2023-24
Surplus /
(Deficit)
FY 2024-25
Baseline
Revenue
FY 2024-25
Baseline
Expenditures
FY 2024-25
Surplus /
(Deficit)
2-Year
Total
Surplus /
(Deficit)
1820 - OPRCA
Self Sustaining
Revolving 5.70 11.06 (5.36) 5.70 11.44 (5.74) (11.10)
1870 -
Affordable
Housing Trust
Fund 13.31 8.70 4.61 13.31 8.95 4.36 8.97
1882 - Multi
Service
Center/Rent 0.11
0.11 — 0.11 0.11 — —
1884 - 2006
Housing Bond
Proceeds — — — — — — —
1885 - 2011A-T
Subordinated
Housing 0.75 0.76 (0.01) 0.75 0.78 (0.04) (0.04)
2063 - FEMA
Declarations 0.43 — 0.43 0.43 — 0.43 0.85
2071 - CARES
Act Relief Fund — — — — — — —
2072 - American
Rescue Act Plan — — — — — — —
2102 -
Department of
Agriculture 0.68 0.68 — 0.68 0.68 — —
2103 - HUD-
ESG/SHP/HOP
WA 4.76 4.76 — 4.76 4.77 (0.01) (0.02)
2108 - HUD-
CDBG 0.90 8.19 (7.29) 0.90 8.35 (7.46) (14.75)
2109 - HUD-
Home 3.12 3.13 (0.01) 3.12 3.15 (0.03) (0.04)
2113 -
Department of
Justice - COPS
H
0.27 — 0.27 0.27 — 0.27 0.54
2120 - Federal
Action Agency 0.46 0.48 (0.02) 0.46 0.49 (0.03) (0.05) 2123 - US Dept
of Homeland
Security — 1.18 (1.18) — 1.23 (1.23) (2.41)
2124 - Federal
Emergency
Management A 0.28 0.84 (0.56) 0.28 0.87 (0.59) (1.14)
2125 -
Environmental
Protection Agenc — — — — — — —
Attachment C
Fund
Description
FY2023-24
Preliminary
Baseline
Revenue
FY2023-24
Preliminary
Baseline
Expenditure
FY 2023-24
Surplus /
(Deficit)
FY 2024-25
Baseline
Revenue
FY 2024-25
Baseline
Expenditures
FY 2024-25
Surplus /
(Deficit)
2-Year
Total
Surplus /
(Deficit)
2128 -
Department of
Health and
Human 23.07 27.89 (4.82) 23.07 28.65 (5.58) (10.39)
2129 - Trade
Corridor
Improvement
Fund — — — — — — —
2138 - California
Department of
Educa 3.02 3.04 (0.02) 3.02 3.11 (0.09) (0.12)
2139 - California
Department of
Conse — 0.27 (0.27) — 0.28 (0.28) (0.55)
2140 - California
Department of
Trans
— — — — — — —
2144 - California
Housing and
Communi
— 0.32 (0.32) — 0.34 (0.34) (0.66)
2148 - California
Library Services — — — — — — —
2152 - California
Board of
Correction
4.41 4.25 0.15 4.41 4.27 0.13 0.29
2159 - State of
California Other 38.64 46.59 (7.94) 38.64 46.95 (8.31) (16.26) 2160 - County of
Alameda: Grants 0.59 1.14 (0.54) 0.59 1.16 (0.57) (1.11) 2163 - Metro
Transportation
Com: Prog — — — — — — —
2166 - Bay Area
Air Quality
Management — — — — — — —
2172 - Alameda
County: Vehicle
Abatem 0.57 0.59 (0.02) 0.57 0.61 (0.04) (0.07)
2190 - Private
Grants 0.03 0.03 — 0.03 0.03 — —
2195 -
Workforce
Investment Act
3.30 3.26 0.03 3.30 3.30 — 0.04
2211 - Measure
B: Local Streets
& Roa
(0.05) — (0.05) (0.05) — (0.05) (0.09)
2212 - Measure
B: Bicycle /
Pedestrian (0.22) — (0.22) (0.22) — (0.22) (0.44)
Attachment C
Fund
Description
FY2023-24
Preliminary
Baseline
Revenue
FY2023-24
Preliminary
Baseline
Expenditure
FY 2023-24
Surplus /
(Deficit)
FY 2024-25
Baseline
Revenue
FY 2024-25
Baseline
Expenditures
FY 2024-25
Surplus /
(Deficit)
2-Year
Total
Surplus /
(Deficit)
2213 - Measure
B: Paratransit -
ACTC 0.12 — 0.12 0.12 — 0.12 0.23
2214 - ACTC
Reimbursable
Grants — — — — — — —
2215 - Measure
F - Vehicle
Registrati 1.81 1.84 (0.03) 1.81 1.89 (0.08) (0.11)
2216 - Measure
BB - Alameda
County Tr — — — — — — —
2217 - Measure
BB - OAB
Roadway Infra — — — — — — —
2218 - Measure
BB - Local
Streets and 27.08 24.63 2.45 27.57 25.47 2.10 4.55
2219 - Measure
BB - Bike and
Pedestri 2.87 2.23 0.63 2.92 2.30 0.61 1.24
2220 - Measure
BB - Paratransit 2.95 3.28 (0.33) 3.01 3.33 (0.31) (0.65) 2230 - State Gas
Tax 11.53 12.82 (1.29) 11.75 13.18 (1.43) (2.73)
2232 - Gas Tax
RMRA 9.03 11.02 (1.99) 9.21 11.27 (2.07) (4.06)
2241 - Measure
Q-Library
Services Ret 18.78 19.98 (1.20) 18.78 20.59 (1.81) (3.01) 2243 - Measure
D - Parcel Tax to
Main 14.30 15.38 (1.08) 14.30 15.88 (1.58) (2.66)
2244 - Measure
Q - Parks &
Recreation 29.07 27.16 1.91 29.08 27.85 1.23 3.14
2250 - Measure
N: Fund 1.94 2.21 (0.27) 1.94 2.26 (0.32) (0.59)
2251 - Measure
Y: Public Safety
Act 2 — — — — — — —
2252 - Measure
Z - Violence
Prevention 28.06 31.65 (3.60) 28.26 32.28 (4.02) (7.61) 2261 - Measure
AA - Oversight 2.62 2.62 — — — — —
2262 -Measure
AA - Early
Education 23.25 23.18 — — — — —
Attachment C
Fund
Description
FY2023-24
Preliminary
Baseline
Revenue
FY2023-24
Preliminary
Baseline
Expenditure
FY 2023-24
Surplus /
(Deficit)
FY 2024-25
Baseline
Revenue
FY 2024-25
Baseline
Expenditures
FY 2024-25
Surplus /
(Deficit)
2-Year
Total
Surplus /
(Deficit)
2263 - Measure
AA - Oakland
Promise 11.62 11.59 — — — — —
2270 - Vacant
Property Tax Act
Fund 5.39 5.27 0.12 5.39 5.46 (0.07) 0.05
2310 - Lighting
and Landscape
Assessment 19.50 19.61 (0.12) 19.50 19.69 (0.19) (0.31) 2320 - Fire
Suppression
Assessment Di — — — — — — —
2330 - Werner
Court Vegetation
Mgmt D — — — — — — —
2331 - Wood
Street
Community
Facilities 0.09 0.09 — 0.09 0.09 — (0.01)
2332 - Gateway
Industrial Park 0.96 0.99 (0.02) 0.96 1.00 (0.03) (0.06) 2333 - Brooklyn
Basin Public
Services 0.50 0.48 0.02 0.50 0.48 0.02 0.05
2411 - False
Alarm Reduction
Program 2.26 2.09 0.16 2.26 2.16 0.10 0.26
2412 - Measure
M - Alameda
County: Em 2.44 3.03 (0.60) 2.44 3.12 (0.69) (1.28)
2413 - Rent
Adjustment
Program Fund 9.47 12.13 (2.65) 9.47 12.52 (3.05) (5.70) 2415 -
Development
Service Fund 58.28 98.23 (39.95) 58.68 101.37 (42.69) (82.64) 2416 - Traffic
Safety Fund 0.99 1.00 (0.01) 0.99 1.02 (0.04) (0.04)
2417 - Excess
Litter Fee Fund 0.45 0.45 — 0.45 0.45 — —
2419 - Measure
C: Transient
Occupancy 6.10 6.54 (0.44) 6.70 6.55 0.15 (0.29)
2420 -
Transportation
Impact Fee
1.59 1.59 — 1.59 1.59 — —
2421 - Capital
Improvements
Impact Fee — — — — — — —
Attachment C
Fund
Description
FY2023-24
Preliminary
Baseline
Revenue
FY2023-24
Preliminary
Baseline
Expenditure
FY 2023-24
Surplus /
(Deficit)
FY 2024-25
Baseline
Revenue
FY 2024-25
Baseline
Expenditures
FY 2024-25
Surplus /
(Deficit)
2-Year
Total
Surplus /
(Deficit)
2611 - HUD-
CDBG (ARRA) — — — — — — —
2826 - Mortgage
Revenue 0.09 0.09 — 0.09 0.09 — —
2990 - Public
Works Grants 0.54 0.30 0.23 0.54 0.31 0.22 0.45
2992 - Parks
and Recreation
Grants 0.46 — 0.46 0.46 — 0.46 0.93
2995 - Police
Grants — — — — — — —
2996 - Parks
and Recreation
Grants 20 0.02 0.02 — 0.02 0.02 — —
2999 -
Miscellaneous
Grants 0.03 0.45 (0.42) 0.03 0.46 (0.43) (0.85)
3100 - Sewer
Service Fund 67.98 52.34 15.65 67.98 53.41 14.58 30.23 3200 - Golf
Course 0.61 0.61 — 0.61 0.62 (0.02) (0.02)
4100 -
Equipment 35.48 35.04 0.44 35.48 35.34 0.13 0.58
4200 - Radio /
Telecommunicati
ons 7.36 7.35 0.01 7.36 7.52 (0.16) (0.15)
4210 -
Telephone
Equipment and
Software 0.83 0.95 (0.12) 0.83 0.96 (0.14) (0.26)
4300 -
Reproduction 1.71 1.37 0.34 1.71 1.39 0.32 0.66
4400 - City
Facilities 42.70 43.15 (0.45) 42.70 44.09 (1.40) (1.84) 4450 - City
Facilities Energy
Conserv — 0.52 (0.52) — 0.53 (0.53) (1.04)
4500 - Central
Stores 1.34 0.57 0.77 1.34 0.59 0.75 1.52
4550 -
Purchasing 1.92 2.20 (0.28) 1.92 2.28 (0.36) (0.64)
4600 -
Information
Technology
17.68 15.71 1.97 17.68 15.16 2.52 4.49
5012 - JPFA
Admin Building:
Series 19 0.31 — 0.31 0.31 — 0.31 0.61
Attachment C
Fund
Description
FY2023-24
Preliminary
Baseline
Revenue
FY2023-24
Preliminary
Baseline
Expenditure
FY 2023-24
Surplus /
(Deficit)
FY 2024-25
Baseline
Revenue
FY 2024-25
Baseline
Expenditures
FY 2024-25
Surplus /
(Deficit)
2-Year
Total
Surplus /
(Deficit)
5130 -
Rockridge:
Library
Assessment — — — — — —
5321 - Measure
DD: 2009B
Clean Water, — — — — — — —
5322 - Measure
DD: 2017C
Clean Water,
— 1.20 (1.20) — 1.25 (1.25) (2.45)
5330 - Measure
KK:
Infrastructure
and — — — — — — —
5331 - Measure
KK: Affordable
Housing — — — — — — —
5332 - Measure
KK:
Infrastructure
Series 2020B-1
(Tax Exempt) — — — — — — —
5333 - Measure
KK: Affordable
Housing 2020 — 1.28 (1.28) — 1.33 (1.33) (2.61)
5335 - 5335 -
Measure KK:
Infrastructure
2022 — — — — — — —
5500 - Municipal
Capital
Improvement 1.03 — 1.03 1.03 — 1.03 2.06
5505 - Municipal
Capital
Improvement: 0.21 0.22 — 0.21 0.22 (0.01) (0.01)
5510 - Capital
Reserves 0.22 — 0.22 0.22 — 0.22 0.44
5610 - Central
District Projects 0.20 4.79 (4.59) 0.20 4.97 (4.77) (9.36) 5613 - Central
District: TA
Bonds Se — — — — — — —
5614 - Central
District: TA
Bonds Se 0.90 0.94 (0.04) 0.90 0.95 (0.05) (0.09)
5638 - BMSP:
TA Bond Series
2006C-T — 0.10 (0.10) — 0.10 (0.10) (0.20)
Attachment C
Fund
Description
FY2023-24
Preliminary
Baseline
Revenue
FY2023-24
Preliminary
Baseline
Expenditure
FY 2023-24
Surplus /
(Deficit)
FY 2024-25
Baseline
Revenue
FY 2024-25
Baseline
Expenditures
FY 2024-25
Surplus /
(Deficit)
2-Year
Total
Surplus /
(Deficit)
5643 - Central
City East TA
Bonds Ser — 0.46 (0.46) — 0.48 (0.8) (0.94)
5650 - Coliseum
Projects 0.10 0.13 (0.03) 0.10 0.13 (0.03) (0.06)
5656 - Coliseum:
TA Bonds Series
2006 — 0.70 (0.70) — 0.72 (0.72) (1.42)
5670 - Oakland
Base Reuse
Authority
— — — — — — —
5671 - OBRA:
Leasing & Utility 1.03 1.31 (0.28) 1.03 1.35 (0.31) (0.59) 5672 - Joint
Army Base
Infrastructure
— — — — — — —
5999 -
Miscellaneous
Capital Projects 3.20 2.98 0.22 3.20 3.03 0.16 0.38
6013 - 2013 LED
Streetlight
Acquisition 1.47 1.47 — 1.44 1.44 — —
6029 - Taxable
Pension
Obligation Bon 53.27 53.28 (0.01) 54.08 54.09 (0.01) (0.01) 6032 - Taxable
Pension
Obligation: Se — — — — — — —
6064 - GO
Refunding
Bonds, Series
201 5.55 5.51 0.04 5.56 5.52 0.04 0.08
6322 - Measure
DD: 2017C
Clean Water,
1.46 1.46 — 1.46 1.46 — —
6330 - Measure
KK: 2017A-1
(TE) Infra 2.25 2.25 0.01 2.25 2.25 0.01 0.01
6331 - Measure
KK: 2017A-2
(Taxable)
Infrastructure
and Affordable
Housing 4.15 4.14 0.01 4.15 4.14 0.01 0.02
6332 - Measure
KK: 2020B-1
GOB 3.95 3.94
6333 - Measure
KK: 2020B-2
GOB 4.98 4.97
Attachment C
Fund
Description
FY2023-24
Preliminary
Baseline
Revenue
FY2023-24
Preliminary
Baseline
Expenditure
FY 2023-24
Surplus /
(Deficit)
FY 2024-25
Baseline
Revenue
FY 2024-25
Baseline
Expenditures
FY 2024-25
Surplus /
(Deficit)
2-Year
Total
Surplus /
(Deficit)
6334 - Measure
KK: 2020 GOB
Refunding 5.82 5.81
6335 - Measure
KK:
Infrastructure
Series 2022C-1
GOB (Tax
Exempt) 30.46 10.45
6540 - Skyline
Sewer District -
Redemption 0.02 0.02 — — — — ---
6557 - Piedmont
Pines P1 2018
Reasses
0.11 0.11 — 0.11 0.11 — —
6587 - 2012
Refunding
Reassessment
Bo 0.42 0.42 — 0.40 0.40 — —
6613 - JPFA
Lease Revenue
Refunding B 8.34 8.34 — 8.33 8.33 — —
6999 -
Miscellaneous
Debt Service 25.00 25.00
7100 - Police
and Fire
Retirement Sys — 3.63 (3.63) — 3.68 (3.68) (7.31)
7130 - Employee
Deferred
Compensation 0.20 0.04 0.16 0.20 0.04 0.16 0.32
7320 - Police
and Fire
Retirement Sys 4.48 4.09 0.39 4.48 3.72 0.75 1.14
7540 - Oakland
Public Library
Trust 0.10 0.10 — 0.10 0.10 — —
7640 - Oakland
Public Museum
Trust 0.01 0.01 — 0.01 0.01 — —
7760 - Grant
Clearing — 0.82 (0.82) — 1.70 (1.70) (2.52)
7999 -
Miscellaneous
Trusts 0.26 0.26 — 0.26 0.26 — —