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Council Member Brannan questions IBO on city's financial preparedness
0:25:32
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94 sec
Council Member Justin Brannan questions representatives from the Independent Budget Office about what actions the city administration should be taking in response to potential federal funding cuts. The IBO emphasizes the importance of transparent and realistic budgeting, especially in areas where there is more certainty.
- IBO highlights the need for accurate budgeting on known factors despite uncertainties in federal policy and the economy.
- The discussion touches on areas of the budget that are either underfunded or overstated.
- The importance of providing a clear picture of the city's financial position is stressed.
Justin Brannan
0:25:32
Yeah.
0:25:33
Thank you.
0:25:36
If you were in charge of the most populous city in the country, what would you be doing right now?
Jackie Sherman
0:25:45
Thank you for the question, council member.
0:25:48
We're here to testify from the perspective of the city's independent budget office.
0:25:56
We
Justin Brannan
0:25:58
I understand.
0:25:58
What are some of the things that you think the administration could or should be doing right now?
Sarah Parker
0:26:09
As we've highlighted in our testimony, one thing that we feel very strongly about is having accurate and realistic and transparent budgeting on what we do know.
0:26:20
Mhmm.
0:26:20
So there's a lot of uncertainty around what is happening in federal policy and federal reimbursements.
0:26:27
There is a lot of uncertainty in what's happening with the national economy, the local economy.
0:26:33
But there are areas that IBO has highlighted in its preliminary budget report, and we will continue to highlight of the budget that we know are either underfunded or that are overstated.
0:26:47
And that is not providing a clear picture of our of the financial position of the city in places that we know with more certainty about.
0:26:58
And so first and foremost, transparency on the things that we do have information on.
Mohammad Razvi
0:27:04
Okay.
Justin Brannan
0:27:06
Colleagues?
Lincoln Restler
0:27:06
Councilmember Williams followed by councilmember Brewer.