Oakland Finance and Management Committee Meeting - February 24, 2026

The Finance and Management Committee met on Tuesday, February 24, 2026, at 9:30 a.m. to consider five agenda items. The committee approved minutes from the prior meeting, adjusted the schedule of outstanding items, debated a resolution for cooperative purchasing agreements, and received an informational cash management report. One item was withdrawn to the pending list. Public speakers addressed multiple agenda items and open forum.

Consent Calendar

• Approval of Draft Minutes (Item 1): The committee unanimously approved the draft minutes from the committee meeting held on February 10, 2026. Motion by Councilmember Brown, seconded by Councilmember Unger. Passed 4-0.
• Determination of Schedule of Outstanding Committee Items (Item 2): The committee accepted the schedule as amended, which included the withdrawal of Item 4 (informational report on a proposed parcel tax measure) to the pending list with no date specified. Motion by Chair Ramachandran, seconded by Councilmember Brown. Passed 4-0.

Public Comments & Testimony

• Item 3 (Cooperative Purchasing Agreements): Two speakers addressed the item. Ms. Sada Olabala criticized the city's past practice of unlimited spending on piggyback contracts and urged the committee to focus on limiting the city administrator's authority to $250,000. Kevin Daly expressed support for contract reform and requested that the upcoming disparity study be discussed alongside this item.
• Item 4 (Parcel Tax Informational Report): Although the item was withdrawn before the staff presentation, the committee heard public speakers. Ms. Sada Olabala argued against a new parcel tax, detailing the heavy existing tax burdens on Oakland property owners. Two other speakers were called but did not appear.
• Item 5 (Cash Management Report): No public speakers appeared for this item.
• Open Forum: Kevin Daly spoke about redirecting sugar-sweetened beverage tax revenue to its original purposes and using street parking revenue for traffic services as recommended by the Reimagining Public Safety Task Force. Ms. Sada Olabala argued against the city's sanctuary city status, citing economic costs and claiming negative impacts on African American residents.

Discussion Items

• Item 3 – Resolution for Cooperative Purchase Agreements (Citywide Goods and Services): Staff presented a resolution to approve ongoing cooperative agreements exceeding $250,000 and authorize an additional amount not to exceed $8,040,000 for office/school supplies, hardware/industrial supplies, janitorial supplies, and paper products. Councilmembers Brown and Wong raised concerns about the steep increase in contract amounts (e.g., janitorial supplies from $250,000 to $1.2 million) and the lack of detailed spending data. Staff noted that a comprehensive report on the city administrator’s contract authority is expected in spring 2026. Councilmember Brown requested a supplemental report identifying which city departments use each contract and a sampling of products purchased. Councilmember Wong requested similar information and asked for itemized catalog samples. The committee voted 3-1 to forward the item to the full City Council on the March 3, 2026 agenda as a non-consent item, with the requested supplemental information. Councilmember Wong voted no, citing insufficient data.
• Item 4 – Informational Report on Proposed Parcel Tax Measure: This item was withdrawn to the pending list before discussion. No staff report was delivered.
• Item 5 – Cash Management Report for Q2 FY2025-26: David Jones of the Treasury Bureau presented the quarterly report. The portfolio balance was approximately $2.17 billion as of December 31, 2025, up from $2.09 billion in September. Portfolio yield was 3.68% (down from 3.98% in September), days to maturity 244, daily liquidity 20%, and 100-day liquidity 66%. The portfolio is fully compliant with the city’s investment policy. Councilmember Wong asked about seasonality of cash flows; staff explained that large inflows occur in mid-April (property tax), mid-December, and mid-January through early March (business tax). The committee received and filed the report unanimously.

Key Outcomes

• Item 1: Approved unanimously (4-0).
• Item 2: Approved as amended (4-0) – Item 4 moved to pending list.
• Item 3: Forwarded to City Council on March 3, 2026 as a non-consent item with supplemental information requested. Vote: 3-1 (Wong no).
• Item 4: Withdrawn to pending list; no vote needed.
• Item 5: Received and filed unanimously (4-0).