June 2, 2016 (San Diego) This one will clean up language but also critically establish an emergency fund reserve. The city has never had one of these, but for example the County of San Diego does. This is a good idea, but also makes this fund not available unless a super majority of the council votes for it. Together with Prop H, they both are taking away flexibility in the city, and how it spends it’s funds.
You can find the text here.
Here from the city attorney:
The proposition would clarify provisions requiring the City to have sufficient General Fund cash on hand to pay obligations coming due in any fiscal year before major property tax revenues are received. This amendment removes contradictory language in the Charter but does not change substantive legal requirements.
The proposition would require the City to establish General Fund Stability and Emergency Reserves. It would provide that the Emergency Reserve may only be accessed by a two-thirds vote of the City Council. The Council is also required to establish policies for the use of the Stability Reserve.
While there is clear opposition to Prop H, both of these could have some unintended consequences in the coming years, especially if we face a downturn. Prop H will make a section of the budget inaccessible except for infrastructure, and this one requires a super majority vote by the council. This takes moneys away from the General Fund and takes away, potentially, flexibility.