City to Conduct Second Reading of Ordinance Lowering Maximum Transfer From Light & Power Fund to General Fund

The City will conduct the second reading of an ordinance amending the Municipal Code to clarify and conform the existing code that the maximum annual transfer from the Light & Power Fund has been reduced.

Every year money is transferred from the Light & Power Fund to the City’s General Fund. 

In November, 85% of the voters approved Measure P which maintained the longstanding utility transfer to the general fund. 

The elimination of these funds could have resulted in the annual loss of approximately $18 million to the city’s General Fund, which had serious implications for the City’s emergency 911 response, fire, paramedic, public health programs for the community, senior services, homelessness and housing programs, street repairs, and other general services and programs.

The ordinance amends the Municipal Code to clarify that the maximum annual transfer from the Light & Power Fund to the General Fund has been reduced from 16 percent to 12 percent of the electric utility’s gross income.