Oakland Published a Report Saying the City Is on the Brink of Bankruptcy
John Sexton 12:50 PM | November 26, 2024
I've written recently about the serious budget problems with San Francisco's schools and its public transit system. But things appear to be even worse in nearby Oakland. Last week the city accidentally published a budget report on its website which said the city was in danger of insolvency unless serious cuts were made immediately.
One report, published early Friday morning in connection with a City Council agenda, warned Oakland must take immediate action to “maintain the solvency of the General Purpose Fund and avoid the Chapter 9 process.”
The report, which had the signatures of the city’s top officials on it, also warned that “Fecklessness and failure to take dramatic and immediate steps to reduce expenditures will almost certainly result in insolvency.”
Hours later, that report was pulled down and a similar report with the same numbers but less dire language was uploaded to replace it.
https://hotair.com/john-s-2/2024/11/26/oakland-accidentally-published-a-report-saying-the-city-is-on-the-brink-of-bankruptcy-n3797378#google_vignette
