From a City of Alameda press release:
The City has had to cancel the May 08, 2012 special budget hearing. The next budget hearing is scheduled for Tuesday, May 29, 2012.
City staff still does not have clarity on several key General Fund cost variables, and, consequently, cannot yet present tangible options to the City Council.
The two most important variables are the recent changes in investment assumptions by the Public Employees Retirement System (PERS), which will impact future retirement costs, and the ongoing labor contract negotiations with three of the City’s miscellaneous bargaining units.
The necessary financial information will come into sharper focus in the next several days. With this information the staff can present a realistic budget to the City Council. The budget presentation will be available to the public by May 22, 2012.