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Meeting: 2:00 PM City Council

Meeting Time: March 24, 2026 at 2:00pm PDT

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Agenda Item

17. Early Budget Work Session - Budget Context and City Department Reports on Departmental Budgets, Reduction Strategies, and Potential Impacts (Office of Public Safety Accountability, City Attorney, City Auditor, City Clerk, and City Treasurer) File ID: 2026-00662

2026-00662 Early Budget Work Session - Budget Context and City Department Reports on Departmental Budgets, Reduction Strategies, and Potential Impacts (Office of Public Safety Accountability, City Attorney, City Auditor, City Clerk, and City Treasurer)
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1 Public Comment
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    Muriel Strand at March 21, 2026 at 1:09pm PDT

    I’m informed that the Sacramento City Council has previously approved $250,000 for a feasibility study on the topic of forming a public bank in Sacramento. The Council should definitely include this in the 2026-2027 budget.

    A feasibility study will describe the benefits to Sacramento of employing the City’s reserves, and other public funds as appropriate, as capital for various key projects that may fail to attract investment funding from the private, for-profit sector. The study will determine how such a bank can be organized, funded and operated for the benefit of the Sacramento community as a whole.

    The Bank of North Dakota is a public bank that for about a century has been offering to the citizens of North Dakota the kind of benefits such an institution can bring to Sacramento.
    https://en.wikipedia.org/wiki/Bank_of_North_Dakota

    We all know that City revenues are currently particularly restricted, a situation that is likely to be repeated in the future. Creation of a public bank for Sacramento will provide for future funding of essential projects such as very affordable housing and other community needs, even in the face of future constraints on public revenues.