pages: CityCouncil/2009-02-17.pdf, 14
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CityCouncil | 2009-02-17 | 14 | meeting. Vice Mayor deHaan stated that he does not want to micromanage but would like to expand the communication level. (09-082 - ) Discussion and direction on the 90-day working capital fund balance for operating reserves in Special Revenue Funds. Mayor Johnson stated Council needs to be clear on direction given; a financial policy should be established immediately. The City Manager stated the Special Revenue Funds (SRF) could be brought back for discussion; there was no discussion about which funds are in compliance and which are not. Mayor Johnson stated Council could give direction on a general policy and bring the matter back for adoption at the next Council meeting; direction should be given to maintain a 90-day working capital. The City Manager stated the matter could be brought back to identify impacts. Mayor Johnson stated adopting a policy now is important, not six months from now. The City Manager stated some funds have restrictions; the issue would be brought back. Mayor Johnson stated AMP might need to review the matter first. Councilmember Matarrese stated information should come back to Council because AMP is part of the City; the same financial principles apply; having a specified working capital fund is universal and is a good, prudent practice regardless of the number of days. Mayor Johnson stated that she wants AMP to have a policy. Councilmember Matarrese stated Council needs to decide what needs to be done if less permits are coming to the Planning and Building Department and the department is overstaffed; information needs to be provided on whether the fund balance is being spent down, and, if so, for how long; numbers need to be provided. Vice Mayor deHaan stated too often the focus is on the General Fund only; the SRF need to be reviewed; Council needs to decide what to Regular Meeting Alameda City Council 14 February 17, 2009 | CityCouncil/2009-02-17.pdf |