Showing articles 1 - 3 of 3 tagged as "general fund"

City Hall: The year in scandals

Scandals shook Sacramento City Hall throughout 2010. A review of the past year in local politics shows city leaders in turmoil over debacles at the Community Development and Utilities departments. The troubles in the development department prompted City Councilwoman Sandy Sheedy to declare in January that council members should find out what has “gone wrong” at City Hall. Before we ring in a new year, let’s take a look at the scandals that shaped city politics over the past 12 months. Troubles with the feds A scandal that began in 2009 involving the city’s development department and a Natomas flood zone continued full-throttle until the end of 2010. City employee Dan Waters, son of rece

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City to cash in if state issues IOUs

If the state issues IOUs again, Sacramento plans to cash in. The City Council gave the nod Tuesday night to the treasurer’s office to use $20 million to purchase IOUs – officially known as “registered warrants” – as an investment opportunity for the city. If the state does issue IOUs, Sacramento Chief Investment Officer John Colville said recipients can take them to the treasurer’s office along with identification and a voided check, and the city will wire the money directly into the recipient’s bank account, with a $2 processing fee. Last year, the city set aside $10 million, of which $6.92 million was used to buy IOUs, and the city cashed in for $29,650, Colville said. “It was succes

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Relocating Downtown Greyhound

This Tuesday the 28th, City Council will vote to authorize construction of the new Greyhound Terminal Building on Richards Blvd. The plan is to have Greyhound terminal moved by April 1, 2012 when the lease at its current location (703 L Street) expires. There is also the possibility that relocation may need to occur sooner if the landlord at 703 L Street exercises its right to an early termination of the current lease. The City Council also plans to suspend the traditional process of competitive bidding for building design because it could extend the project completion time beyond Greyhound's lease expiration date. Money to pay for this project will come from the cities General Fund (Fund

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