pages: CityCouncil/2009-02-07.pdf, 20
This data as json
body | date | page | text | path |
---|---|---|---|---|
CityCouncil | 2009-02-07 | 20 | Councilmember Gilmore stated there seems to be a structural problem; departments have not been adequately charged, which has built up the deficit over the years; a formula based on a certain percent does not work; the amount needs to be recalculated every year. The Interim Finance Director stated the amount is personalized based on the fund users, which needs to be revisited every year. Councilmember Gilmore stated workers' compensation has a negative balance over $2 million; inquired where money would come from if there were a new $1 million charge. The Interim Finance Director responded the claim is charged to the workers' compensation ISF; stated the City has money in cash; negative funds are not netted out at the end of every year if the negative amounts were zeroed out , the amount would be a hit against the fund responsible for the claim; if the claim were for a General Fund department, the amount would come from the General Fund; the vast majority of the departments with claims are General Fund departments. Mayor Johnson inquired whether the amount comes from the [General Fund reserve. The Interim Finance Director responded the amount would [come from the General Fund reserve] if not recovered from the department. Councilmember Gilmore inquired whether the $2.6 million deficit is measured against the fund balance; and whether the $8 million in cash indicated in the budget document, accounts for the $2.6 million or if the amount still needs to be subtracted out. The Interim Finance Director responded the latter the amount still needs to be subtracted out]. Councilmember Matarrese stated a policy is needed that prohibits the ISF rolling deficit; ISF need to be zeroed out right now. Councilmember Gilmore stated the unrestricted General Fund cash reserves are not truly the amount listed the budget document should reflect the true unrestricted cash number. Mayor Johnson inquired whether there is a break down of the $2.046 million deficit; and whether the intent is to assign amount to departments. Special Meeting Alameda City Council 20 February 7, 2009 | CityCouncil/2009-02-07.pdf |