pages: CityCouncil/2007-03-20.pdf, 8
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CityCouncil | 2007-03-20 | 8 | February; three-month projections add to the amount i reserves need to be in the neighborhood $250,000 to $300,000. The City Manager clarified that Councilmember Gilmore was referring to the amount that would be needed for the end of the year. The Finance Director stated $79,000 would be needed at the end of the year. Mayor Johnson stated the goal for a balance budget needs to be implemented as soon as possible. Councilmember Gilmore inquired whether a motion needs to be made to set the operating reserve fund. The Finance Director responded that an additional clause could be added to the existing resolution stating that an $80,000 operating reserve be expended from the unrestricted fund balance. Mayor Johnson inquired whether language could be added stating that the unrestricted fund balance is now restricted. The Finance Director responded said matter could be addressed as part of the budget. Councilmember deHaan inquired whether depreciation is part of the $79,000. The Finance Director responded depreciation is added into the expenditure and then taken out in order to get the net gain or loss without depreciation. Vice Mayor Tam inquired whether $80,000 is a conservative amount if fee increases are approved, to which the Finance Director responded in the affirmative. Councilmember Gilmore moved adoption of resolution with direction to add language: 1) referencing the Golf Commission and 2) setting a $79, operating reserve fund; and approval of direction to have directed restricted funds addressed when the budget is presented. Vice Mayor Tam seconded the motion, which carried by unanimous voice vote - 5. (07-131) Resolution No. 14078, "Amending Master Fee Resolution No. 12191 by Changing Various Chuck Corica Golf Complex Rates. " Adopted. Regular Meeting Alameda City Council 8 March 20, 2007 | CityCouncil/2007-03-20.pdf |