pages: CityCouncil/2009-05-05.pdf, 13
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CityCouncil | 2009-05-05 | 13 | The Interim City Manager gave a brief presentation. Councilmember Matarrese inquired whether a line could be inserted between General Fund and Special Fund groups to reflect an accurate fund balance. The Interim City Manager responded the second column from the right shows the breakdown; continued with the presentation. Vice Mayor deHaan inquired whether the $5.6 million due from other funds is broken down. The Interim City Manager responded the chart does not show who owes the money. Vice Mayor deHaan stated that he continually asks about the $5.6 million. The Interim City Manager stated the $5.6 million includes three notes: 1) $2. 1 million owed to the City from AMP; 2) $2.4 million due from the CIC; and 3) $1.2 million due from the ARRA. In response to Vice Mayor deHaan's inquiry about the CIC paying back $480,000, the Interim City Manager stated a five-year repayment schedule starts this year. Councilmember Matarrese inquired whether a breakdown of notes would be included in the next report, to which the Interim City Manager responded in the affirmative Mayor Johnson stated the State is going to be in a very serious situation because local governments do not have money to contribute to the State. The Interim City Manager stated the State decides when to write repayment checks. Mayor Johnson stated in cities that do not have money in reserves, immediate cuts would need to be made if the State borrows money. The Interim City Manager stated not being in a cash rich position is very risky; cities need to reduce the cost of doing business. Vice Mayor deHaan stated the CIC budget shows a lot of red; money is being moved into the General Fund at the expense of having an unbalanced CIC budget. Regular Meeting Alameda City Council 13 May 5, 2009 | CityCouncil/2009-05-05.pdf |