pages: CityCouncil/2007-02-20.pdf, 19
This data as json
body | date | page | text | path |
---|---|---|---|---|
CityCouncil | 2007-02-20 | 19 | discussion include a review of the reserve threshold needed to secure good bonding rates. Councilmember/Board Member/Commissioner deHaan inquired why the reserve target is 25%. The Finance Director responded 25% represents approximately two to three months of payables; stated 25% has been memorialized as part of the City's financial policies; the amount was temporarily reduced in order to meet deferred maintenance goals. Councilmember/Board ember/Commissioner deHaan stated the reserve should get back to 25%; including a 1% to 2% increase in the next budget cycle would be nice. Mayor/Chair Johnson stated the issue should be discussed; the 25% reserve was accumulated from deferring maintenance; the goal should be 25% but not at the expense of accumulating deferred maintenance. Councilmember/Board Member/Commissioner deHaan stated the deferred maintenance backlog should be understood by the next budget. The City Manager stated an infrastructure update would be presented. Councilmember/Board Member/Commissioner deHaan inquired whether the ten-year forecast would be pursued. The Finance Director responded the mid-year items would be added to the ten-year forecast; past performance is no predictor of the future. Mayor/Chair Johnson inquired whether the sewer fund is lower than expected to which the Finance Director responded the sewer fund is lower because only a partial payment has been received from the County. Mayor/Chair Johnson inquired when the proposed Golf resolution could come back, to which the City Manager responded 30 days. The Finance Director stated the resolution could be addressed at the March 20 City Council meeting. In response to Councilmember/Board Member/Commissioner deHaan's inquiry regarding Golf cost allocation charges, the Finance Director stated Council could decide not to charge a particular Special Joint Meeting Alameda City Council, 3 Alameda Reuse and Redevelopment Authority, and Community Improvement Commission February 20, 2007 | CityCouncil/2007-02-20.pdf |