TITLE
Recommendation to request City Council to refer the fiscal accountability package of charter reform proposals to the City Council Charter Amendment Committee for its review and further action.
DISCUSSION
The City of Long Beach continues to face long term structural deficit problems while at the same time attempting to meet the needs of repairing an aging infrastructure and maintaining a high-quality level of service to the community. While attempting to do an admirable job in facing this challenge, further measures can and should be taken to address the long-term critical financial situation the City of Long Beach.
A package of fiscal accountability reforms would assist in the process of eliminating the structural deficit and building tax-payer confidence. This financial challenge we face has created an opportunity for the City Council to make reforms and change the status quo.
As such, the City Council Charter Amendment Committee should consider the following measures:
1. Mandated Reserves: Beginning Fiscal Year 2010, the City Council shall establish a fund known as the "General Fund Reserve" in an amount not less than 5% of the budget for the purpose of maintaining municipal services during periods of reduced revenues to the City, as well as meeting unforeseen contingencies and emergencies of the City.
Reason: While City Management claims that the City sets aside 2.5% for reserves, this amount has not been sufficient to meet the financial demands. Additionally, should Long Beach be impacted by a major earthquake, additional funds will be needed to recover from such a catastrophe.
2. Elected Official Salary Equity: Beginning January 1, 2009, the City Council shall establish a Citizens' Elected Officials Compensation Commission which shall be responsible for setting the salaries and benefits for the City Council, the Mayor, the City Attorney, the City Prosecutor and the City Auditor annually. The seven-member Commission shall meet annually, no late...
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