TO: AC Transit Board of Directors
FROM: Salvador Llamas, General Manager/Chief Executive Officer
SUBJECT: General Manager's Budget Task Force
BRIEFING ITEM
AGENDA PLANNING REQUEST: ?
RECOMMENDED ACTION(S):
Title
Consider receiving a report on the formation of a General Manager's Budget Taskforce to assist staff in planning for the next fiscal year budget.
Staff Contact:
Chris Andrichak, Chief Financial Officer
Body
STRATEGIC IMPORTANCE:
Goal - Financial Stability and Resiliency
Initiative - Financial Efficiency and Revenue Maximization
The District has reached the "fiscal cliff" by using all federal pandemic emergency funding and reserves to balance the budget this fiscal year. Creation of a budget taskforce will facilitate early input from the Board to help plan for the unique challenges facing the District next fiscal year.
BUDGETARY/FISCAL IMPACT:
There is no fiscal impact from the formation of a taskforce.
BACKGROUND/RATIONALE:
The District has reached the "fiscal cliff" after expending all federal emergency funds and using reserves to balance the current budget. Due to this unique financial situation, the budget development process for FY 25-26 was more in-depth both internally and in the presentations and responses to the Board. Staff projects deficits continuing for the foreseeable future. A potential regional revenue measure and interim state loans may help the District, but neither are guaranteed. Even if either materialize, the ultimate amount of funding available to the District from interim loans and/or a regional revenue measure are unknown. The District will need to consider a variety of scenarios when developing a budget for next fiscal year.
To build upon the work that was done in creating this year's budget, the General Manager has created a General Manager's Budget Task Force. This task force will be composed of select staff and up to three Board members. The Board President will appoint the Board member(s) who will part...
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