Oaklands Reserves Missing Millions; Dellums, Edgerly, Quan, Chai and former City Manager Bobb sort out fiscal mess
With $48 million of Oakland reserves gone, and over $21 million unaccounted for, it looks like Oakland will have a rough September. We have our key players; former City Manager Robert Bobb teaming up with Mayor Ron Dellums, City Administrator Deborah Edgerly, City Councilwoman Jean Quan and Mayor's Cheif of Staff David Chai all trying to uncover the mystery of the missing millions, and are working together to present a new budget for the City of Oakland. This could mean tough times up ahead. Read the whole story by Matier and Ross SF Gate : Oakland's finances appear to be far worse than suspected. Former City Manager Robert Bobb, who has parachuted into town at the request of Mayor Ron Dellums to try to sort out the fiscal mess, has discovered that Oakland's reserves have been drawn down by as much as $48 million in the past year, and accounting for most of the missing funds hasn't been easy. Just last year, Bobb said, the city reported a reserve of between $60 million