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The BFAC met on May 1, 2026; members approved the April 3 minutes, heard presentations from the Office of Finance on management of the City’s general investment pool (about $16.5 billion) and from the Neighborhood Council Budget Advocates on their 2026 White Paper, and discussed preparing a summary progress report for the City Council’s Budget and Finance Committee. Committee members reviewed ad hoc subcommittee priorities including economic development and asset management, surplus-land review, idle Special Funds and TRAN inter-fund borrowing, liability claims management, and possible revenue and efficiency strategies (e.g., a five-year financial plan, revenue diversification, technology/AI, and GIS mapping). The Committee requested engagement with the City Attorney’s Office on claims management and planned to review a prepared summary at its next meeting (June 5, 2026).
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Committee members reviewed how the City manages its cash and investments, and heard neighborhood advocates’ recommendations for improving the budget process and finding new revenue and efficiency measures. The BFAC agreed to prepare a progress summary to share with the Council’s Budget and Finance Committee so its recommendations can be considered during the 2026–27 budget process. Staff follow-up with the City Attorney on how the City handles liability claims was requested. No immediate budget changes were adopted at this meeting.
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