pages: CityCouncil/2007-02-20.pdf, 18
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CityCouncil | 2007-02-20 | 18 | Member/Commissioner Gilmore's suggestion; the budget should not use the net asset balance as part of the regular operating budget ; the intended purpose is not to use the money for operations. The City Manager stated the matter would be brought back to address impacts and recommend budget adjustments. Councilmember/Board MMember/Commissioner deHaan stated a short-term fix is needed; setting a benchmark would be a healthy start. Mayor/Chair Johnson stated the budget would be set, not benchmarks. Councilmember/Board Member/Commissioner Matarrese inquired whether the [General Fund reserve would be over 20% with the adjustment, to which the Finance Director responded in the affirmative. In response to Councilmember/Boaro Member/Commissioner Matarrese's inquiry about the amount, the Finance Director stated $415,645. Councilmember/Board Member/Commissioner Matarrese inquired whether spending $400,000 on deferred maintenance would be better, to which the Finance Director responded that she would not recommend using the money for deferred maintenance. the matter could be considered in the next budget. Councilmember/Board Member/Commissioner Matarrese stated the matter should be included in the next budget. louncilmember/Board Member/Commissioner Gilmore stated discussions should address whether and when to build reserves back up to 25%. Vice Mayor/Board Member/Commissioner Tam requested that the Special Joint Meeting Alameda City Council, 2 Alameda Reuse and Redevelopment Authority, and Community Improvement Commission February 20, 2007 | CityCouncil/2007-02-20.pdf |