pages: CityCouncil/2007-03-20.pdf, 6
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CityCouncil | 2007-03-20 | 6 | The Finance Director stated $56,600 has been expended for Capital Improvement Projects through February. Mayor Johnson inquired what was done with the $56,600. The Finance Director responded some money was spent for golf amenity projects; stated $54,600 was expended for the Clubhouse project. Mayor Johnson stated a capital improvement schedule needs to be established. Councilmember Matarrese stated the resolution is a good start; he likes the idea of recognizing the Golf Commission's role and responsibility and adding language to recognize keys points, such as directing staff and the Golf Commission to monitor the Golf Complex; recognizing the need to operate under a balanced budget is essential: a trigger point should occur when operating under a balanced budget is not possible; the Golf Commission should evaluate the matter and make a recommendation to allocate the money needed to close the gap; action is not driven by monitoring the budget and providing a monthly report; the Golf Complex is a City asset that generates revenue. Mayor Johnson stated that Council needs to establish an annual reserve for bad months; the reserve should be replenished in good months. Councilmember deHaan stated rainy days are the difficult portion of the equation; a monthly budget is needed with all elements taken into consideration. Mayor Johnson stated the Interim Golf Manager needs time to balance the budget and get things under control. the Clubhouse funding should be restricted; separate accounts should be established for operating reserves. The Finance Director stated Council could designate unrestricted reserve funds for a specific purpose; staff cannot set up a designated reserve without Council direction. Mayor Johnson requested that the matter come back to Council to address how much unrestricted funds would be needed. The City Manager suggested the recommended changes be made and the matter be brought back [of restricting funds for the Clubhouse] with the budget update in May. Regular Meeting Alameda City Council 6 March 20, 2007 | CityCouncil/2007-03-20.pdf |