pages: CityCouncil/2008-08-19.pdf, 15
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CityCouncil | 2008-08-19 | 15 | Councilmember Matarrese stated the Government Accounting Standards Board (GASB) is a reporting requirement; a commitment has been made to fund retirement and the City needs to pay for it. The Interim Finance Director stated the obligation is to demonstrate that the City can financially handle the payment, not necessarily fund it. Councilmember Matarrese stated that showing the ability to pay for OPEB and paying for it are two different things that he does not want to push off the liability onto another Council. Councilmember Gilmore stated choosing the ordinance route might be premature given the fact that the Interim Finance Director will come back with alternatives she would like to hear the alternatives and then choose the appropriate mechanism with the understanding that the City would start doing something. Councilmember Matarrese stated payment has to start this year; the longer the City waits, the higher the liability becomes; the City needs to start putting money in the bank by December 2008. Mayor Johnson stated that she wants to ensure that a minimum amount of money would go to pay for the obligations. Councilmember deHaan stated that he does not see a problem with establishing an ordinance now. Mayor Johnson stated that Councilmember Matarrese is suggesting a parallel process. Vice Mayor Tam stated that she appreciates trying to be aggressive; she would like to have a full vetting regarding an ordinance versus a policy restricting the City's future negotiation ability. Councilmember Matarrese stated the matter could be discussed with the ordinance; that he would like to have formal Council direction. Councilmember Matarrese moved approval of directing staff to move forward on the matter. Councilmember deHaan seconded the motion. The City Manager stated that staff would meet with the Fiscal Sustainability Committee on August 26; staff would provide Regular Meeting Alameda City Council 15 August 19, 2008 | CityCouncil/2008-08-19.pdf |