Will El Cerrito ever address the state auditor recommendations?

After passing a budget with no real cuts (except to seniors) in June the City Council will only meet once a month in July, August, and September (as per usual) because there is not hurry when you are on the verge of bankruptcy. While Albany City Staff are preparing recommendations on how to spend theContinue reading “Will El Cerrito ever address the state auditor recommendations?”

Do Nothing City Council continues to do nothing even as the State moves El Cerrito to #6 on the state high risk list

Today the State Auditor released their annual list of cities at high risk of financial difficulties. This list is based on FY 18/19 figures which was a better year for many municipalities. However, El Cerrito dropped from #7 to #6 largely based on lack of reserves (El Cerrito not only has no reserve but owesContinue reading “Do Nothing City Council continues to do nothing even as the State moves El Cerrito to #6 on the state high risk list”

We are alarmed but refuse to take action-City Council meeting 10/20/2020

But they refuse to take action! Councilperson Pardue-Okimoto was once again the lone voice saying make cuts now. As you can see from the below statement included in the packet we are at 11% of revenues with 25% of the year completed. Now there is an issue with the city getting our Transfer Tax moneyContinue reading “We are alarmed but refuse to take action-City Council meeting 10/20/2020”

The City Staff continues to “monitor the deficit” as our revenue projections are way off.

The packet is out for the meeting on October 20, 2020. It is a shorter agenda with the financial reporting agenda item 7-A. The information for this item in the packet starts at page 42. A quote from the section on Revenues. Bold is mine. “The expectations for Charges for Services is  based on historicalContinue reading “The City Staff continues to “monitor the deficit” as our revenue projections are way off.”

City Council-Will You Act Now? Bond ratings drop again

On September 24th El Cerrito’s bond ratings once again dropped. The Sales Tax Revenue bond rating dropped to BBB+ and the CA COP rating dropped to a BBB-. Google what BBB- means and you see that it is one step above junk bond. Yesterday I posted a blog post about how at the last meetingContinue reading “City Council-Will You Act Now? Bond ratings drop again”

Looking backwards-El Cerrito did not get into a 5.5 million dollar hole yesterday. Part Two of Two

El Cerrito is in the midst of a major financial crisis. This the second of two blog posts addressing four issues we have found with how El Cerrito has managed it’s financial issues for years. Please refer back to the first post here and that post has the references used here also.  NO LONG TERMContinue reading “Looking backwards-El Cerrito did not get into a 5.5 million dollar hole yesterday. Part Two of Two”

Looking backwards-El Cerrito did not get into a 5.5 million dollar hole yesterday. Part One of Two

El Cerrito is in the midst of a major financial crisis. In October 2019 the State Auditor stated that El Cerrito was #7 on the list of CA cities most likely to go bankrupt. The issue was so serious that the auditor got state approval to do a full audit of El Cerrito. Unfortunately dueContinue reading “Looking backwards-El Cerrito did not get into a 5.5 million dollar hole yesterday. Part One of Two”

El Cerrito is in a major financial crisis-major cuts proposed

Today the city of El Cerrito put out a packet for the planned budget meeting June 9th at 1pm. The Consultants were brutally honest. The link is here. I will copy some slides below but it is really important to view the entire packet. The consultants call out that El Cerrito was in a fiscalContinue reading “El Cerrito is in a major financial crisis-major cuts proposed”

Library Hours on the Cutting Block but not high staff salaries

Notes Regarding City Council Meeting on April 21, 2020 There are two meetings on the 21st. The first is a Labor Negotiations meeting with Service Employees International Union (SEIU) Local 1021; El Cerrito Police Employees Association; United Professional Firefighters Local 1230; Public Safety Management Association ­ Battalion Chief, Fire Chief, Police Chief, and Police Management;Continue reading “Library Hours on the Cutting Block but not high staff salaries”