pages: CityCouncil/2009-05-19.pdf, 4
This data as json
body | date | page | text | path |
---|---|---|---|---|
CityCouncil | 2009-05-19 | 4 | Mayor Johnson stated stable numbers are because of the efforts of the Development Services Department. Vice Mayor deHaan stated the business-to-business category took a substantial drop between 2003 and 20041 the light industry segment has had substantial growth within the last two years; the business- to-business category has less impact on the General Fund; commended the Development Services Department; stated the philosophy has changed at the Harbor Bay Business Park; light industry has become prominent. Councilmember Tam moved approval of the staff recommendation. Councilmember Matarrese seconded the motion, which carried by unanimous voice vote - 5. (09-197) Recommendation to accept Quarterly Treasury Report for the period ending March 31, 2009. Councilmember Tam requested clarification of the City's cash assets noted in the staff report. The Interim City Manager stated cash-on-hand includes funds in petty cash, change boxes, and the vault; cash-on-deposit includes money in Certificates of Deposits, money markets, and investments; cash-on-deposit funds are accessible fairly quickly; working capital includes funds on deposit with the Local Agency Investment Fund (LAIF) ; money is accessible within twenty-four hours; idle cash includes funds under management by registered investment advisors; bond proceeds include money left over from a debt issuance that are kept in a trustee account. the City's total cash assets were $127,373,871 as of March 31, 2009. Councilmember Tam inquired whether working capital funds would be used if the City has to deal with that State borrowing $2 to 3 million from the City's General Fund. The Interim City Manager responded the State would give the City a "net check;" stated the State would take money before cash is distributed; a "net check" might not be enough to pay all bills in a ninety-day period. In response to Vice Mayor deHaan's inquiry, the Interim City Manager stated $127,373,871 is all cash together; approximately $8.6 million is General Fund cash. Councilmember Gilmore inquired whether the $127,373,871 is real cash in the aggregate from everywhere in the City and could be used Regular Meeting Alameda City Council 4 May 19, 2009 | CityCouncil/2009-05-19.pdf |