pages: CityCouncil/2008-02-19.pdf, 20
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CityCouncil | 2008-02-19 | 20 | Councilmember/Boaro Member/Commissioner deHaan stated costs go upi using reserves for deferred maintenance is important; pension and severance pay is another issue. The Finance Director stated that employees are entitled to accrued vacation payout upon retirement; the amount can be substantial; vacation payout amounted to $200,000 this fiscal year. In response to Councilmember/Boar Member/Commissioner deHaan's inquiry regarding operational savings, the Finance Director stated there is a savings of approximately $1.5 in Capital Improvement Projects and $1.5 in operating expenditures. Councilmember/Board Member/Commissioner deHaan stated that he does not see any upswing or leveling at the end of 2009; the City of Vallejo is considering bankruptcy and is the first city in California to consider such a thing; stated today's phenomenon is different from 2003. The Finance Director stated the 2003 phenomenon was industry driven, today's is home sale driven; plans need to be made for a very thoughtful and strategic 2009 budget. Councilmember/Board Member/Commissioner Gilmore thanked staff for the presentation; stated best efforts have been made in forecasting the unknown; the State's budget has not passed and may not pass until fall; what is known now may change dramatically because the City is dependent on what the State does to balance its budget. The Finance Director stated one more chance to input new information will be available when the Governor presents the May revise; the City could feel a little more home free if a fiscal emergency is not declared. The City Manager/Executive Director stated the City constantly receives feedback from the League of California Cities; information will be received before the May revise. Councilmember/Board Member/Commissioner Matarrese inquired what projects are not being done because funds are being shifted to close the $5 million gap, to which the Finance Director responded different banks are being used; Proposition 1B money would be used for the Pavement Management Plan rather than General Fund money Councilmember/Board Member/Commissioner Matarrese inquired whether Proposition 1B money was to be used for something else before shift Special Joint Meeting Alameda City Council, Alameda Reuse 8 and Redevelopment Authority, and Community Improvement Commission February 19, 2008 | CityCouncil/2008-02-19.pdf |