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Commentary: State bankruptcy new concern for city

Original post made on Dec 29, 2008

The city just closed its books on fiscal year 2007-08, realizing a $3-million surplus by under-spending its operating budget of $100 million.

Read the full story here Web Link posted Saturday, December 27, 2008, 7:38 AM

Comments (5)

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Posted by Kevin
a resident of Another Pleasanton neighborhood
on Dec 29, 2008 at 7:48 pm

3% surplus....good.....hmmm. Okay, better than the state model.
What is not clear in the article is how much was saved during the previous budget periods?
I hope the city managers have actually planned ahead for a rainy day fund.
If 3 million is the total fund, I wouldn't be singing their praises. Saving only in the face of an obvious pending recession leaves a lot to be desired.

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Posted by Liz
a resident of Canyon Creek
on Dec 29, 2008 at 9:42 pm

It seems a lot better than our school district.

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Posted by Cholo
a resident of Livermore
on Dec 30, 2008 at 12:37 pm

lezzie...give it a rest...puleeeeeeeeeze...

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Posted by Qwerty
a resident of Another Pleasanton neighborhood
on Dec 31, 2008 at 11:06 pm

The big problem is the fact that the state got drunk on the tax revenues from the dotcoms a while ago. Then when many of them went under in the late 90's early '00s, the state kept spending in spite of the lower tax revenue. Now we all get to pay for their inability to control themselves.

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Posted by Pleasanton Resident
a resident of Pleasanton Valley
on Jan 1, 2009 at 8:39 am

What amazes me is how the politicians in this state can tell you how you need to rough it through the bad times and use your savings. Yet look at them. This town needs more than a couple of million in the bank for a rainy day fund. I hope they have it.... and I do not mean a credit limit for any politicians out there.

In a previous article pleasanton says it is only $40 million (correct me is this is wrong) in the hole on pensions and future obligations. As far as I am concerned that is $40 million to much and how this whole mess gets started.

BTW. Want to say thanks to those in the state capital for the upcoming tax increases. Way to go. I have never seen a poorer body of leaders in the world (and yes I have lived in other countries). It is unreal how california has put up with this for so long.

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