pages: CityCouncil/2009-02-17.pdf, 11
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CityCouncil | 2009-02-17 | 11 | Vice Mayor deHaan stated setting the Vehicle Reserve Fund aside was a healthy move; taking money out now is not a good now; a question was raised Saturday regarding the spending history over the last five years; retirement expenses are outstanding; discussions involved bonds against the debti direction was given to review other options. The City Manager stated the Other Post Employment Benefits (OPEB) financing options would be shared with the Fiscal Sustainability Committee. Councilmember Matarrese stated the issue needs to move rapidly; a drop-dead date is needed if the Fiscal Sustainability Committee wants input; the original direction was that the OPEB issue would be addressed this year. The City Manager stated the Interim Finance Director is working on the [bond] validation suit with the City Attorney's office. Councilmember Matarrese stated a specific date needs to be set for discussion; direction was given in June; time is slipping away. Mayor Johnson stated Council could address the matter at the second meeting in March. The City Manager inquired whether Council is requesting that the matter come back for action. Mayor Johnson stated Council is requesting that the matter come back with a final plan. Vice Mayor deHaan stated financing during this year is a concern; the news was concerning to Council; adjustments need to be made this year. Mayor Johnson inquired whether the $2.1 million workers' compensation expense includes this year. The City Manager responded $2. 1 million is a projection through June 2009. Vice Mayor deHaan stated a report should be provided on what was accumulated this year. The City Attorney stated the City has a $2.1 million loss reserve fund this year for medical payments; $961,000 has been spent, which is different from the deficit. Regular Meeting Alameda City Council 11 February 17, 2009 | CityCouncil/2009-02-17.pdf |