DATE: October 21, 2020
TO: Council Budget and Finance Committee
FROM: Director of Finance
SUBJECT
Cannabis Revenue/Unfunded Liability Referral
RECOMMENDATION
That the Council Budget and Finance Committee reviews and considers a recommendation to Council on the attached referral from Councilmember Wahab.
SUMMARY
Councilmember Wahab has requested that the City Council review a possible policy regarding use of Cannabis revenues for specific purposes, including the City’s unfunded pension and OPEB liabilities. Since the Committee is considering the City’s updated actuarial report on OPEB liabilities at this meeting, this referral is being included in the packet for Committee consideration.
ATTACHMENTS
Attachment I Referral Memorandum