Tag Archives: Clarity

Unfunded liabilities prompt initiative, council resolution

Measure M will provide more funds for improving streets, but it still will fall short of the need. Photo: Tracey Taylor
Print Friendly

A ballot initiative to force the city to do biennial reports on obligations for employee and retiree expenses and for Berkeley’s physical infrastructure and capital assets appears likely to appear on the ballot in the November election, according to supporters of the plan. At the same time, at tonight’s City Council meeting a similar measure is being proposed by four councilmembers, led by District 5’s Laurie Capitelli. The council measure, however, lacks the penalties for failing to produce the report that the initiative draft contains.

The ballot initiative is called the Berkeley Fiscal Accountability, Clarity, Transparency and Sustainability Ordinance of 2012, which shortens to FACTS. It would require biennial reports on the city’s financial obligations for the next 20 years, and would prohibit the City Council or the voters from “incurring any debt financing, or imposing any new tax, assessment or property-related fee, or increasing any existing tax, assessment or property-related fee, or scheduling an election to impose or increase and tax, assessment or property-related fee” unless the report required in the ordinance has been published and certified. … Continue reading »

Tagged , , , , , , , ,