pages: CityCouncil/2011-02-15.pdf, 26
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CityCouncil | 2011-02-15 | 26 | overtime for the first time in June. Councilmember/Board Member/Commissioner Tam stated the staff report notes the CIC is losing $4.4 million in redevelopment funds because of Supplemental Educational Revenue Augmentation (SERAF) and has a potential loss of $900,000 to $1 million this year; inquired whether Proposition 22 was suppose to help shelter the funds. The Acting City Manager/Executive Director responded the SERAF payments are a hold over from the budget a couple of years ago; stated the City is stuck with the second year SERAF payment regardless of Proposition 22. Councilmember/Board Member/Commissioner Tam stated the City will never get the money back; inquired why projections at June 30, 2011 are approximately $55 million for revenues and $69 million for expenditures. The Controller responded the Special Revenue Funds are project oriented; stated funds get built up and are spent when there is enough money; reserves are being used [for projects] this year; some years, Special Revenue Fund reserves go down. Councilmember/Board Member/Commissioner Tam inquired whether lumping the Alameda Point Going Forward Project with ARRA repairs would sacrifice one for the other; stated the ARRA fund balance is $7.5 million as of June 2010. The Deputy City Manager - Development Services responded $700,000 would be drawn down on the ARRA fund balance leaving a $6.2 million fund balance at the end of this fiscal year. Councilmember/Board Member/Commissioner Tam stated the Police and Fire Departments have provided worst case scenarios; an unanticipated $2 million FISC fire required drawing down on ARRA reserves; ARRA was not previously charged for using water consumption due to an opened bypass valve diverting water from East Bay Municipal Utility District (EBMUD); there is a $407,000 charge; there are unpaid reimbursement costs associated with the Joint Powers Authority (JPA) for maintenance of the Alameda Point water system between August 2005 and June 2009. The Public Works Director stated a year ago, EBMUD advised the City that ARRA had not been paying for water; a bypass valve had been opened which allowed water to go to Alameda Point without being metered; the City is on a payment plan for 18 months; 2008 and 2009 water expenditures were significantly less; the JPA realized that some bills were not paid while negotiating JPA renewal; EBMUD could not verify whether the charges were billed; the City is on an 18-month payment plan for said charges also. Councilmember/Board Member/Commissioner Tam inquired whether combined charges total $407,000. Special Joint Meeting Alameda City Council, Alameda Reuse and Redevelopment Authority, and 11 Community Improvement Commission February 15, 2001 | CityCouncil/2011-02-15.pdf |