pages: CityCouncil/2016-04-19.pdf, 3
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CityCouncil | 2016-04-19 | 3 | members to visit Alameda Landing. Councilmember/Commissioner Daysog encouraged residents to look at the Comprehensive Annual Financial Report (CAFR), which is the City audit; page 13 references the Internal Service Fund, a reserve for a variety of cost centers; he is happy to report that a lot of the funds have a positive balance; the Internal Service Fund for equipment replacement is at $5.5 million; inquired if the City has a comparison or benchmark in mind for the amount in the fund. The Finance Director responded there is no real benchmark or policy for the City; stated the City cannot compare to other Cities because it depends on the fleet and what the fund represents in Alameda; the depreciable value, or life of the assets, is 35%; the City is replacing vehicles early enough, but not too early. Councilmember/Commissioner Daysog stated many of the cost centers have a positive balance; the workers' compensation insurance has a negative balance of $1.5 million; encouraged residents to review the value of the infrastructure of the City of Alameda, which is the streets, sewers or sidewalks, the pension plans and CalPERS; the information is available for the public. Councilmember/Commissioner E Ezzy Ashcraft moved approval accepting the Fiscal Year 2014-15 audited financial statements and compliance reports. Councilmember/Commissioner Daysog seconded the motion, which carried by unanimous voice vote - 5. ADJOURNMENT There being no further business, Mayor/Chair Spencer adjourned the meeting 7:12 p.m. Respectfully submitted, Lara Weisiger City Clerk and Secretary, SACIC The agenda for this meeting was posted in accordance with the Sunshine Ordinance. Special Joint Meeting Alameda City Council and the Successor Agency to the Community Improvement Commission April19, 2016 | CityCouncil/2016-04-19.pdf |