pages: CityCouncil/2009-02-07.pdf, 8
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CityCouncil | 2009-02-07 | 8 | The Interim Finance Director stated the list includes : one-time revenues, deferred maintenance and future liabilities. Councilmember Matarrese stated the principles should be for every operation; absolutes include: setting an OPEB figure for new employees and the debt ratio; the worst-case scenario should be selected for the benchmark. The Interim Finance Director stated the same debt ratio might exist for the Housing Authority and AMP, but Development Services could cause a problem given the nature of redevelopment debt. Councilmember Matarrese stated there is revenue; the same standard could apply. Councilmember Gilmore stated, if there is an exception, staff should spell out why the policy should not apply. Councilmember Matarrese stated the policies should be general, but strong enough if the benefit is so great that the City has to deviate from its guiding principles, the matter can be taken to the governing body; adding loopholes would be a mess and impossible for the next group to interpret. Vice Mayor deHaan stated sustainability should be an overriding principle; suggested a definition be included. The Interim Finance Director stated a glossary could be added. The AMP General Manager stated the guiding principles might need to be distilled to a higher level to apply to AMP; AMP revenues come from rates; the way revenues are collected is very different from the General Fund; AMP's bond rating is different and looks at certain ratios; reserve levels and labor costs differ; the specifics in the later part of the document do not apply; that he would take the document to the Public Utilities Board (PUB) and suggest amendments as part of its budget process. The Housing Authority Executive Director stated the Housing Authority can seek up to 105% of budget when going out for financing. Councilmember Tam requested that the speaker's comments [ on Policy I.E.3] be addressed. The Interim Finance Director stated financial analysis done under a program performance budget applies a methodology to determine if the City should operate a program; the program is evaluated on the Special Meeting Alameda City Council 8 February 7, 2009 | CityCouncil/2009-02-07.pdf |