(September 20, 2002) -- In a proposal that could move the City Council toward closer oversight of City Hall financial matters, including expenditures from City Hall reserve accounts, 6th district Councilwoman Laura Richardson-Batts has agendized a proposal calling for more Council monitoring of City Hall reserves and spending.

Councilwoman Richardson-Batts details her proposal in a memo agendized for the September 23 Council special budget meeting. We post her memo verbatim.

In salient part, it asks the Council to "join me in establishing stronger accounting principles that should enable the Council to make more informed and prudent decisions. I believe the City Council should establish a Reserve Accounting Report...[G]iven our financial situation, it is evident that a better understanding is needed of our projected FY03 ending reserve balance and a more through discussion of expenditure requests is required prior to approvals. In light of the fact that a $55-$56 million dollar budget is projected for next year, I strongly urge my colleagues to join me in establishing this Reserve Accounting Report to properly track and maintain the maximum amount of reserves in addition to our emergency general fund reserves."

Councilwoman Richardson-Batts proposes that the following Reserve Accounts be evaluated on a monthly basis and each time an expenditure is requested: General Fund, Upland Oil Fund, Capita1 Projects Fund, General Services Fund, Fleet Services Fund, Insurance Fund, Gas Fund, Towing Fund.

She adds, "If any department requires funding from a Reserve Fund (in addition to their existing budget), I encourage the City Council to welcome the request and discussion. However, approvals should come only after a full understanding of the impacts of the City of Long Beach’s funding reserve situation."

And, she adds in connection with budget proposals, that she supports the following recommendations "which I have publicly advocated for throughout the entire budget process."