pages: CityCouncil/2015-06-02.pdf, 8
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CityCouncil | 2015-06-02 | 8 | Councilmember Daysog stated that he is happy with the budget process and the assumptions are reasonable. In response to Councilmember Oddie's inquiry, Vice Mayor Matarrese stated he is proposing a 20% restriction on the fund balance. Mayor Spencer inquired whether the money could be set aside in another fund, to which the Interim City Manager responded in the negative; stated any amount above the 20% reserve would become restricted, which means staff would have to come back to Council for approval to spend it. The Finance Director stated $3 million was restricted for a specific purpose; any amount above 20% has to be specifically restricted; staff is not ready to say where funds would be applied. *** (15-379) Mayor Spencer stated a motion is needed to continue the meeting past 11:00 p.m. Vice Mayor Matarrese moved approval [of continuing the meeting]. Councilmember Oddie seconded the motion, which carried by unanimous voice vote - 5. Councilmember Oddie stated that he wants to be clear on what can be done today, including the mechanics. Vice Mayor Matarrese stated that he would like to have Council consider restricting anything above 20% to be used for capital needs which have been deferred, or to fund other capital assets, such as salt water pumps and non-operational expenditures. Councilmember Ezzy Ashcraft stated the issues are all worthy to consider, but not tonight; that she would like input from staff; she cannot vote on something so specific without information. Councilmember Daysog stated the whole point of the budget process is to identify and budget CIP needs; questioned why an account would be created that specifies where to park or spend money; the budget process already in place deals with current needs and long term unfunded needs. Mayor Spencer stated that she cannot support a budget where parking lot items would be neglected unless it is a CIP item. Special Joint Meeting Alameda City Council and Successor Agency to the Community Improvement Commission June 2, 2015 | CityCouncil/2015-06-02.pdf |