pages: CityCouncil/2010-04-06.pdf, 7
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CityCouncil | 2010-04-06 | 7 | Island. The Interim City Manager responded said scope would include components that the consultant would study; stated the consultant may recommend additional parks or facilities that the City should think about in the future; the General Plan was done prior to the Density Bonus Ordinance. Vice Mayor deHaan inquired whether the Miracle League would be included, to which the Interim City Manager responded in the affirmative. REGULAR AGENDA ITEMS (10-148) Recommendation to Accept Financial Report for Second Fiscal Quarter. The Interim City Manager gave a presentation. Councilmember Tam stated major juggling has been done with refinancing and cuts; the property transfer tax fund designated as "32200 Property Transfer Tax" under "General Fund Revenue by Source" shows $3,250,000 budgeted but $3,650,000 is projected; inquired whether the amount would have been cut in half without Measure P passing; stated Measure P funds are not restricted; the City has the discretion to use the funds for vital City services such as Police and Fire; inquired where Measure P funds are spent. The Interim City Manager responded the $3,250,000 would be down to $2,200,000 without the new rate; stated there is a nexus between property taxes and property transfer taxes; homes are being sold for less than pre-October [2008]; property tax is up because the formula increased; in the past, property tax increased by 2% to 5% [annually]; the City had were more short sales in the last six months than the prior year; comparing the property tax change pre and post Measure P would be good; Measure P funds are used to support the General Fund; 80% of every dollar in the General Fund is used for public safety, libraries, and recreation and parks; under State law, General Fund revenue cannot be an earmarked revenue source absent a special tax; the market was different when Measure P passed; housing was selling more; $3,650,000 is not bad considering the housing market. Vice Mayor deHaan stated this year's budget was put together under a different process and cost center; inquired whether there have been benefits. The Interim City Manager responded that she thinks so; stated program costs are more understandable; Finance is able to cost control and manage and oversee the budget in a more detailed fashion. Vice Mayor deHaan agreed cost centers are well serving their purpose. The Interim City Manager stated the conversion took a lot of work; budget preparation Regular Meeting Alameda City Council 7 April 6, 2010 | CityCouncil/2010-04-06.pdf |