Oakland officials declared last month that the city ended its most recent fiscal year with $17 million left over — a massive turnaround from their urgent warnings of potential insolvency as recently as late 2024.
It’s a fiscal plot twist that some elected leaders are highlighting as they ask voters to approve a $40 million parcel tax this June to balance the upcoming 2026-27 budget.
The turnaround in fiscal 2024-25 from a projected $130 million deficit relied heavily on one-time revenue, depleting reserves, and temporary cuts — none of which solve the city’s longtime imbalance between spending and revenue…