SJ Mercury News: Los Gatos 5-year budget forecast predicts $10 million deficit
Los Gatos 5-year budget forecast predicts $10 million deficit
If You Don’t Like The Forecast, Change The Policies, Not The Forecast Assumptions
2-24-22 A letter to the editor of the Bay Area News; Los Gatan; Los Gatos Weekly; Spotlight CC: Los Gatos Town Council; Los Gatos Finance Commission To give you context, please see the article in the BayAreaNews that incensed … Continued
Pension Debt and Annual Costs Are Increasing Again for Los Gatos During the 2020-2021 Fiscal Year!
The Town just posted the new CALPERs actuarial valuations as of June 30, 2019 and as we suspected they are not pretty. Funded status for both plans decreased. Safety is down to 67.9% and Misc is also down to 71.9%. … Continued
More evidence that we need a permanent Finance Commission in place
Response to the FY 20/21 budget inquiry last week Inbox x July 14, 2020 to Marcia, msayoc@losgatosca.gov, BSpector, Rob, me, Rick Dear Council Members, Below is my reply to Mr. Conway’s response to my initial email. I understand the Mr. Conway provided you a copy … Continued
Let’s Talk About What A Balanced Budget is Supposed to Look Like
The Town’s claim as to a “balanced budget” is misleading and certainly isn’t a complete disclosure as to what has happened. The Town must present a budget, by law, where the operating expenses must be fully funded. There is no … Continued
Council unanimously votes to pay bonuses and give salary increases
NOTE: We promised an update to our initial letter regarding the Council’s unanimous response to approve the raise and the bonus. Below is a letter written to the Democracy Tent group that will be discussed in their Zoom meeting … Continued
Given Los Gatos’ and Worldwide Economic Circumstances, Is This The Time To Increase Town Expenses By $1,000,000?
Dear Honorable Mayor and Council Members, 5-3-20 The undersigned respectfully request that agenda item # 8 be removed from the May 5, 2020 consent calendar. We believe the Town and its residents will benefit greatly from a wholistic and transparent … Continued
Salary and Benefit Costs Rising by 17 % Over 2017 Actual Costs in One Year !
10-12-18 (Below is a copy of an email from Phil Koen to the Town Council on 10-12-19 asking the Council to pull the Staff’s request to approve a major additional cost of salaries and benefits issue as a consent item. … Continued
Budget Comments and Rebuttals 2018-2019
Issue 1: The budget proposes the largest reduction in fund balances ($9,730,814) in recent history. Do you fully understand what this is and is it your judgment that this is the best use of the Town’s fund balances?