Oakland Finance & Management Committee Meeting: June 23, 2026

The Oakland City Council Finance and Management Committee convened at 9:30 AM on Tuesday, June 23, 2026, in the City Council Chamber. All four members were present: Councilmembers Rowena Brown, Zac Unger, Charlene Wang, and Chair Janani Ramachandran. The committee approved routine items, heard reports on the Police and Fire Retirement System investment portfolio and a professional services contract, and forwarded several salary ordinance amendments to the full City Council. The meeting adjourned at 10:20 AM.

Consent Calendar

• Item 1: Approval of Draft Minutes (June 9, 2026) – Approved unanimously (4-0).
• Item 2: Determination of Schedule of Outstanding Committee Items – Accepted as presented (4-0). One public speaker commented on the need for fiscal reports on various city investments.

Public Comments & Testimony

• On Item 2: Asado Olabala requested reports on the fiscal impact of the $700,000 investment in the Oakland Roots facility, the $1.7 million transportation department fund, the equity access ordinance spending ($900,000/year), bilingual premium pay costs, and the merger of departments.
• On Item 3: Asado Olabala questioned the rationale for a five-year contract with InnoFin Solutions, noting seven prior short-term contracts since 2016, and asked for evidence of budget process enhancements. Blair Beekman expressed relief at the low contract amount ($200,000 over five years) but urged more open budget conversations amid Oakland’s high deficit.
• On Item 4: Asado Olabala asked whether retirees receive individual investment updates and what percentage of retirees live in Oakland (noted 32% of city employees live in Oakland). Blair Beekman discussed San Diego’s budget lessons and suggested city workers consider small pay cuts instead of losing benefits. Kevin Daly noted the funded ratio improved from 95.3% to fully funded.
• On Item 5: Three speakers signed up; Asado Olabala and Kevin Daly spoke. Olabala questioned how job priorities were determined and sought clarification on the Exempt Limited Duration Employee (ELDE) classification and loss of bargaining unit coverage. Kevin Daly requested that attached PDF files be made searchable rather than scanned images. (Blair Beekman did not speak on this item.)
• On Item 6: Three speakers signed up; Asado Olabala and Blair Beekman spoke. Olabala criticized the council salary increase ($9,520.26 to a new total of $123,763.39) and a city attorney increase of $28,190 to $338,290, noting there is also a ballot measure to raise salaries further; he challenged council members to decline the raise. Beekman proposed small across-the-board pay cuts to save nearly $2 million. (Kevin Daly did not speak on this item.) Councilmember Brown asked for historical data on how often council members have declined such increases over the last six to eight years, and noted that previous councils had done so.
• Open Forum: Asado Olabala raised concerns about the Ice Center parking validation and city payments to various business improvement districts (e.g., $62,179.99 to Oakland Museum of California). Blair Beekman discussed future plans for ALPR vendor and strong mayor issues.

Discussion Items

• Item 3: InnoFin Solutions LLC Professional Services Contract – The committee considered a resolution to waive competitive bidding and award a five-year contract (July 1, 2026 – June 30, 2031) for support of the Oracle Planning and Budgeting Cloud Service (PBCS) at $40,000 per year ($200,000 total). Staff explained the vendor’s long familiarity with the city’s system and the risk of transition. Approved and forwarded to the July 7, 2026 City Council consent agenda (4-0).
• Item 4: Oakland PFRS Investment Portfolio as of March 31, 2026 – The committee received an informational report. The portfolio ended the quarter at $495 million, with a 0.12% net return (gross of fees). As of May, the portfolio stood at $512 million with an 11% return year-to-date. The fund is 100% funded, with 573 retirees and beneficiaries. Over 60% of the portfolio is in bonds due to recent de-risking. No contributions from the PTO fund will be made after July 1, 2026. The property tax override rate was previously reduced. Received and filed unanimously (4-0).
• Item 5: Amendment to Salary Ordinance for Various Classifications and Exemptions – The committee approved creation of four new classifications: Employee and Labor Relations Technician, Employee and Labor Relations Analyst (Assistant), Employee and Labor Relations Analyst, and Exempt Limited Duration Employee (80-hour). These positions are exempt from civil service and not represented by bargaining units. The committee also approved salary adjustments for Deputy Chief, Assistant Chief, and Fire Marshal (sworn) by incorporating a 15% administrative assignment premium into base salary. Approved and forwarded to July 7 City Council consent agenda (4-0).
• Item 6: Amendment to Salary Ordinance for Council Member, City Attorney, and City Auditor – The committee approved charter-mandated salary adjustments as determined by the Public Ethics Commission. Council member salary increases by $9,520.26 to $123,763.39; city attorney salary increases by $28,190 to $338,290; city auditor salary also adjusted (amount not specified in transcript). The increases take effect July 4, 2026. Staff clarified that the ordinance establishes a statutory maximum, not an automatic raise for each individual. Approved and forwarded to July 7 City Council consent agenda (4-0).

Key Outcomes

• All action items were approved unanimously (4-0) and forwarded to the July 7, 2026 City Council meeting on the consent calendar except Item 4, which was received and filed.
• The committee directed staff to research historical data on council members declining salary increases and consider including it in future reports (from Councilmember Brown’s request on Item 6).
• The meeting adjourned at 10:20 AM.