pages: CityCouncil/2009-05-05.pdf, 8
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CityCouncil | 2009-05-05 | 8 | for flexibility, but discipline and tightening; the false statement being made does not work. The Interim City Manager stated CAFR rules are beyond staff's control; however, staff has control over narratives and footnotes. Councilmember Tam stated Council's adopted policy of having a 20%- 25% fund balance is meaningless. The Interim City Manager stated the fund balance was defined in an uncomfortable way when the policy was approved; next year's projected revenue and expenses are approximately $67 million to $68 million; 10% percent is $6.7 million; that she would not recommend [the General Fund reserve) going below 10%. Vice Mayor deHaan stated the 25% level was set by Council; inquired what is the level for other cities, to which the Interim City Manager responded a 5%-10% minimum is the general rule. Vice Mayor deHaan stated the trend has been a 50% reduction in the last four years; the line is constant; inquired whether something different should have been done. The Interim City Manager responded the question is what needs to be done moving forward. Vice Mayor deHaan stated the trend indicates that something different should have been done. The Interim City Manager stated some cities still have revenues exceeding expenses; Alameda does not fall into said category; the fund balance had been used in prior years. Vice Mayor deHaan stated Planning and Building expenditures have increased by 30% and revenues have decreased by 30%. The Interim City Manager stated approximately $900,000 is available in community planning fees within the Capital Improvement Project budget ; prior Council action earmarked the money for the Carnegie Building. Vice Mayor deHaan stated the trends are disastrous ; fees continually increased over the last four years. The Interim City Manager stated the intent is to give Council an insight into the financial state of funds so that there is an understanding going forward. Regular Meeting Alameda City Council 8 May 5, 2009 | CityCouncil/2009-05-05.pdf |