pages: CityCouncil/2009-02-07.pdf, 11
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CityCouncil | 2009-02-07 | 11 | Councilmember Matarrese stated enterprise funds should be defined; there is an artificial notion that the sewer fund makes money; further stated that he would like AMP included in Section VI. In response to the Interim Finance Director's comments regarding a chart of accounts, Councilmember Gilmore stated having a chart of all funds is a great idea; the Development Services and Planning and Building Departments' budgets should include restrictions about how revenues can be spent. Vice Mayor deHaan inquired why the ferry should be removed from the enterprise fund. The Interim Finance Director responded an enterprise fund should have fees that pay for the service, be self-sustaining and have assets and liabilities akin to a private sector "for profit" operation. The Public Works Director stated many funds are used for the ferry, which does not pay for itself. The Interim Finance Director stated the matter could be added to the issue bin; perhaps the ferry could be moved into a special revenue fund. Mayor Johnson stated, under golf, the City needs to avoid having management spend down reserve funds to pay for operating costs; suggested language be added; further stated the definition of operating costs should include maintenance. Councilmember Matarrese inquired whether an option could be provided to get rid of the term "enterprise fund;" stated none are really self sustaining unless every sewer were up to date, there is an artificial expectation that it is a true enterprise; said situation was discovered with golf and telecom; the City is not in business to make a profit. The Interim Finance Director stated the funds are enterprise under Governmental Accounting Standards Board (GASB) rules; gave a brief review of Section VII, Revenue Distribution. Councilmember Tam stated the policy should be explicit that General Fund revenue is not earmarked; inquired whether or not funds could be dedicated for fire when the City sought revenue enhancement with Measure P. The Interim Finance Director responded the Jarvis family of Special Meeting Alameda City Council 11 February 7, 2009 | CityCouncil/2009-02-07.pdf |