Unfounded Accusations of Financial Mismanagement Addressed in City Council Meeting
In this election season, we have heard two very different stories about the financial condition of Sausalito.
One thing we have heard is that last year we had a $2.5M budget surplus, which is supported by the City’s finance memo from Oct. 4th (see the change in fund balance at the end of page 4). At the same time, we have heard this is a fictitious manipulation of our financial condition.
At Positive People for Sausalito our view is our city finances have been generally well managed: we have increased our cash reserves, put money away to pay our pension debts, and made conservative investments to grow our economy. We have challenges like fixing our infrastructure, addressing sea level rise, and rising insurance costs, but by making smart choices we are well positioned to meet them.
Our view is supported by reviewing our budgets and treasurer’s reports for the last 10 years, and seeing our increasing cash positions and increasing pension liability funding, among other things.
The other view is that the city is “cooking the books”, manipulating financial reports, and colluding to try to hide a disastrous financial outlook.
We see no evidence of this. Last night, our City Manager and City Council took steps to address some of the misinformation being circulated.
When asked to explain why the Treasurer’s report was being reviewed for a second time, City Manager Chris Zapata stated:
“I don't want any confusion about what the numbers are because there seems to be some sentiment that … we are cooking the books in some way, shape, or form. …Now, I'm telling you that you have better than expected financials at the end of 2024. And I'm telling you twice so that you can have a real conversation about it in the future and there will be less confusion about this in the public.”
Click on the image below to watch the video.
We agree that we need to have real conversations about our finances, not finger pointing, blaming, and misrepresentation of our financial condition.
In her report on the 10/4/24 Finance Committee meeting, Vice Mayor Cox also took the opportunity to address the accusations made by a candidate for City Council that the timing of the announcement of our $2.5M FY23/24 budget surplus was “unprecedented” and an attempt by staff and City Council to influence the election. She clarified that in previous years unaudited financials were presented to the Finance Committee most recently on October 4, 2020, and on October 8, 2021.
Click on the image below to watch the video.
We appreciate her courage to go on the record to refute these serious charges.
Former Mayor Ray Withy also provided commentary on the city’s financial condition, and comments on the misinformation being circulated about our financial condition. We agree with his call for our City Manager to continue to go on the record to correct the misinformation being circulated in the community.
Click on the image below to watch the video.
We are calling for a stop to the spreading of false and misleading claims. This causes confusion and division. Our future depends on truth and honest dialogue. Change starts at the local level, and together we can make that happen here!
Adrian & the team at Positive People for Sausalito
