Budget and Finance Committee meeting summary
At a glance
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The BFAC elected Ron S. Galperin as Chair and Jessica Lall as Vice‑Chair, heard the CAO's overview of the Fiscal Year 2025–26 budget, set paired focus areas on economic development, financial management, and revenue sources, and agreed to meet monthly.
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What this means
The committee chose its leadership and received a presentation on the city's 2025–26 budget. Members organized into small teams to examine topics such as economic development and asset management; financial operations including the City Treasury, short‑term borrowing (TRAN), and the Cost Allocation Plan (CAP); and revenue, fees, and cost recovery. The BFAC will meet monthly and each team will report progress back to the committee, with future meetings covering those focus areas.
Key decisions
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- Elected Ron S. Galperin as BFAC Chair (5-0)
- Elected Jessica Lall as BFAC Vice-Chair (5-0)
- Accepted CAO presentation on Fiscal Year 2025-26 budget
- Organized members into pairs to lead focus areas on: (a) economic development and asset management; (b) financial management (Treasury, TRAN, General Fund reimbursements, CAP, special funds, debt); and (c) revenue sources, cost recovery, franchising, fees, liabilities, workers' compensation, and overtime
- Agreed each pair will report back to the BFAC on status and progress
- Confirmed BFAC will meet once per month on Fridays at 1:00 p.m.
- Introduced UCLA Fellows (Golden Bachelder and Prokriti Monolina) to provide support to the Committee
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