Say No to Diversion of Capital Funds

To Concerned Berkeleyans: Once again city officials are diverting monies from infrastructure needs to fund employee costs. 

See Item 26 for July 17.

Under this scenario, $3.8 million in savings from the refinancing of capital projects bonds will be used to reduce the City's CalPERS liability rather than putting the money toward the city's more than $500 million infrastructure liability. 

In my opinion, employee pension/benefit contributions need to be implemented and directed to the more than $500 million liability for employee benefits. At the same time that these and other capital funds are being similarly diverted, in November the city will be asking voters to approve $50 million in brand new infrastructure bonds without even having an overall plan and set of true community-based  priorities. 

At the same time that the city avoids right-sizing city employee contracts we are taking moneys away from community-based safety net services for the most needy. 

Please consider writing to the Berkeley City Council on this matter and voting no on all new taxes/bonds until we have the FACTS, right-sized employee contracts,  and a comprehensive community-based plan to address our unfunded liabilities.  

-- Barbara Gilbert