This website collects cookies to deliver better user experience. Cookie Policy
Accept
Sign In
The Wall Street Publication
  • Home
  • Trending
  • U.S
  • World
  • Politics
  • Business
    • Business
    • Economy
    • Real Estate
    • Markets
    • Personal Finance
  • Tech
  • Lifestyle
    • Lifestyle
    • Style
    • Arts
  • Health
  • Sports
  • Entertainment
Reading: Fremont funds accounting for potential recession
Share
The Wall Street PublicationThe Wall Street Publication
Font ResizerAa
Search
  • Home
  • Trending
  • U.S
  • World
  • Politics
  • Business
    • Business
    • Economy
    • Real Estate
    • Markets
    • Personal Finance
  • Tech
  • Lifestyle
    • Lifestyle
    • Style
    • Arts
  • Health
  • Sports
  • Entertainment
Have an existing account? Sign In
Follow US
© 2024 The Wall Street Publication. All Rights Reserved.
The Wall Street Publication > Blog > U.S > Fremont funds accounting for potential recession
U.S

Fremont funds accounting for potential recession

Editorial Board Published May 23, 2025
Share
Fremont funds accounting for potential recession
SHARE

FREMONT — Fremont metropolis officers are warning that financial progress could also be stunted over the following 12 months, at the same time as some residents are demanding extra funding for companies for the unhoused following strict bans on tenting in RVs or in tents.

The Bay Space’s fourth largest metropolis proposes an working funds of $422.6 million, with $277.8 million in its common fund, in accordance with Fremont officers. At a Might 13 assembly, residents requested the Metropolis Council to push cash towards homeless companies and different metropolis applications.

Associated Articles

Seven methods Trump’s tax and spending invoice may have an effect on Californians

Ramachandran: Oakland wants a tradition of enforcement

Issues to find out about ‘no tax on tips,’ Trump’s tax pledge that’s included in GOP funds invoice

San Mateo County to require quarterly experiences on big-ticket purchases

Evan Low-run nationwide LGBTQ nonprofit to obtain $60,000 from Santa Clara County

Liz Ames, the District 6 BART director for Fremont, requested council to indicate “promise” that homeless residents have a “housing solution.” She additionally requested that the town scale back the quantity of police personnel tasked with eradicating homeless camps and momentary shelters.

“We don’t have a place for those folks to go and it’s just a vicious cycle of moving the homeless encampments around the city with no solution,” Ames stated.

This comes as the town is preventing in federal courtroom over its lately proposed homeless tenting ban, which is without doubt one of the strictest within the state. The ban, which was amended to take away an “aiding and abetting” clause, may have punished somebody for serving to homeless residents by offering tents or different momentary shelter that the town thought of tenting “paraphernalia.” Town final fall additionally handed a RV tenting ban, which requires giant vans and different “oversized” autos, comparable to RVs, transfer at the least 1,000 ft inside 24 hours and limits parking on metropolis streets to only 72-hours.

“Our unhoused residents are facing almost daily crises. They need a safe place to sleep until adequate safe and secure shelters can be provided for all in need,” resident William Bain wrote to council in an e mail forward of the funds listening to.

Each Ames and Bain requested the council to direct their consideration and assets to Fremont’s five-year Homeless Response Plan, adopted on Might 21, 2024. The plan outlines metropolis targets to cease the expansion of homelessness, improve pathways to housing and scale back the impacts of homelessness. In keeping with the town’s proposed funds for the 2025-26 fiscal 12 months, the town is planning to spend about $5.8 million on homeless companies, with an estimated $2.7 million left to spend in a homeless companies fund.

In an interview this week, Mayor Raj Salwan stated there’s not a lot wiggle room left for added funds for unhoused residents or the Homeless Response Plan. Salwan stated the town is ready on “a good chunk” — a whole bunch of thousands and thousands in funds — from Measure W, a 10-year tax hike voters handed in November 2020. Fremont at present has its fingers tied on producing any extra sources of funding for addressing homelessness, the mayor stated.

“We just have limited resources at this time. At this point, we can’t expand on that,” Salwan stated. “We want to do our part, but we’re also waiting on the county.”

Finance Director David Persselin advised council through the funds listening to that whereas President Trump’s proposed tariffs are anticipated to decelerate the nation’s financial system, residents domestically gained’t really feel the consequences till later. Some companies have been buying items at pre-tariff costs and promoting them decrease than market costs with the tariffs, Persselin stated. As soon as these items are bought out – maybe by the top of June – then costs will inflate extra considerably and the native financial system will seemingly begin to gradual, he stated.

He projected the impacts of Trump’s tariffs gained’t be felt till at the least after the primary quarter of the following fiscal 12 months, both in November or December this 12 months.

“It will be a while before we really know how things are playing out,” Persselin stated.

The state by this 12 months can also be ending recouping the $37 million in overpaid gross sales tax to Fremont, which started in 2022. Town was in a position to repay the vast majority of the unintentional tax hiccup by drawing down its monetary reserves from about $24.2 million to a meager $6.7 million, leaving the town of over 230,000 residents with a restricted cushion within the face of any financial collapse.

“Won’t an actual recession leave us with nothing left?” Councilman Raymond Liu requested Persselin.

Persselin stated the remaining reserves would depart the town with “at least a little bit of cushion” in a “full-blown recession.” He added officers would come again to the council at a later date if the funds wanted rebalancing.

Salwan requested if another federal cash is on the chopping block for Fremont due monetary selections coming from the nation’s govt department.

“We’re definitely at risk,” Persselin stated, noting that the feds have talked about doubtlessly chopping sure grant funding countrywide. “We are benefitting from certain grant programs in a number of areas – human services, public safety, capital projects.”

Fremont’s proposed funds reveals that the town expects to spend about 94% of its cash on police, hearth and upkeep work. Police will probably be taking the lion’s share of practically half of total spending. Final 12 months, the town spent over $118 million on police, with $123.5 million projected to be spent by the top of the fiscal 12 months in June.

In keeping with information obtained by this information group, Fremont spent over $6 million on police time beyond regulation by final 12 months, and practically $2.1 million on time beyond regulation by the start of April. Starting in January, the town provided a 2% elevate and a double time beyond regulation pilot program in an try and retain and rent extra officers, with officers citing problem in staffing the division’s pressure of over 150 rank-and-file officers.

Information present the town paid out about $1.4 million in double time beyond regulation by the start of April.

TAGGED:accountingBudgetFremontPotentialrecession
Share This Article
Twitter Email Copy Link Print
Previous Article ‘Hold eye on the ball’: Civilians in war-torn Gaza lack ‘fundamental necessities of life simply to outlive’ ‘Hold eye on the ball’: Civilians in war-torn Gaza lack ‘fundamental necessities of life simply to outlive’
Next Article High programming languages to make use of to your IoT mission High programming languages to make use of to your IoT mission

Editor's Pick

Alyssa Farah Griffin: ‘The View’ Co-Host is Pregnant With Child #1!

Alyssa Farah Griffin: ‘The View’ Co-Host is Pregnant With Child #1!

Studying Time: 3 minutes The View co-host Alyssa Farah Griffin is pregnant! On ‘The View,’ Alyssa Farah Griffin breaks the…

By Editorial Board 3 Min Read
Man fatally shot throughout argument over lady at gathering at Tuscaloosa storage unit; suspect jailed
Man fatally shot throughout argument over lady at gathering at Tuscaloosa storage unit; suspect jailed

One individual was killed and a number of other others injured in…

2 Min Read
Amy Duggar Describes Studying Grandfather Was a ‘Predator’
Amy Duggar Describes Studying Grandfather Was a ‘Predator’

Studying Time: 4 minutes Amy Duggar King grew up figuring out and…

6 Min Read

Oponion

Now Trump’s even giving children complications

Now Trump’s even giving children complications

President Donald Trump is spreading much more medical disinformation, this…

September 26, 2025

Luckin Coffee, Waylaid by Fraud, Tries to Perk Back Up

HONG KONG—Nearly two years after Luckin…

January 28, 2022

New York Times buys Wordle puzzle game for seven figures

The New York Times purchased the…

January 31, 2022

Dr. Phil Divorced: His Marriage Historical past With Spouse Robin, Defined

Studying Time: 3 minutes Preserving a…

March 12, 2025

Verizon Loses Subscribers and Warns of Inflation’s Toll

Verizon Inc.’s first-quarter profit fell 13%,…

April 22, 2022

You Might Also Like

Walnut Creek speaker: Schooling ‘most powerful’ crime preventing instrument
U.S

Walnut Creek speaker: Schooling ‘most powerful’ crime preventing instrument

Caroline Donahoe l Contra Costa Youth Journalism Abagnale advised the viewers Sept. 30 on the Lesher Middle for the Arts’…

7 Min Read
Supervisors to vote on San Mateo County sheriff’s removing on Tuesday. What’s within the advisory opinion recommending they do it?
U.S

Supervisors to vote on San Mateo County sheriff’s removing on Tuesday. What’s within the advisory opinion recommending they do it?

Discovering that she reportedly violated conflict-of-interest legal guidelines and retaliated in opposition to deputies who challenged her authority, retired Santa…

8 Min Read
Single-family home sells for .4 million in Fremont
U.S

Single-family home sells for $2.4 million in Fremont

251 Helado Street – Google Road View The unit within the 200 block of Helado Street in Fremont was offered…

1 Min Read
10+ methods to rejoice Diwali this October across the Bay Space
U.S

10+ methods to rejoice Diwali this October across the Bay Space

Diwali, the five-day competition of lights also called Deepavali, runs from Oct. 18 to 22 this yr, with the principle…

6 Min Read
The Wall Street Publication

About Us

The Wall Street Publication, a distinguished part of the Enspirers News Group, stands as a beacon of excellence in journalism. Committed to delivering unfiltered global news, we pride ourselves on our trusted coverage of Politics, Business, Technology, and more.

Company

  • About Us
  • Newsroom Policies & Standards
  • Diversity & Inclusion
  • Careers
  • Media & Community Relations
  • WP Creative Group
  • Accessibility Statement

Contact

  • Contact Us
  • Contact Customer Care
  • Advertise
  • Licensing & Syndication
  • Request a Correction
  • Contact the Newsroom
  • Send a News Tip
  • Report a Vulnerability

Term of Use

  • Digital Products Terms of Sale
  • Terms of Service
  • Privacy Policy
  • Cookie Settings
  • Submissions & Discussion Policy
  • RSS Terms of Service
  • Ad Choices

© 2024 The Wall Street Publication. All Rights Reserved.

Welcome Back!

Sign in to your account

Lost your password?