pages: CityCouncil/2018-03-06.pdf, 30
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CityCouncil | 2018-03-06 | 30 | Mayor/Chair Spencer inquired whether there is an estimate of the deferred maintenance. The City Auditor responded the deferred maintenance does not appear in the financials because it is not required. Mayor/Chair Spencer inquired whether there is a payment plan for the unfunded pension liabilities. The City Manager responded Council has set aside money towards paying the amount down; stated last fiscal year, money was set aside and 50% of any surplus is directed to go towards the unfunded liability; staff will bring the item back to Council during the mid- year budget. Mayor/Chair Spencer inquired about the highest amount the City will have to pay, to which the City Manager responded $34 million. Mayor/Chair Spencer inquired whether that is for one year payment and which year the payment is due. The City Manager responded in 2025. Mayor Spencer inquired when staff will return to Council. The City Manager responded the mid-year budget cycle will be on the next Council meeting. Councilmember/Commissioner Matarrese requested clarification on OPEB; stated at one point, public safety employees were paying into the fund. The City Manager responded a contribution brought the fund from 0% funded to the 12% funded range. Councilmember/Commissioner Matarrese inquired whether deferred maintenance can be listed in the Auditor's report although it is not required to be listed. The City Manager responded the matter can be discussed at the mid-year budget cycle. Councilmember/Commissioner Matarrese stated that he would like to be ahead of the curve on said issue. The City Manager stated staff has collected data and has deferred maintenance figures. Mayor/Chair Spencer inquired whether the deferred maintenance can return at the next meeting. Special Joint Meeting Alameda City Council and Successor Agency to the Community Improvement Commission March 6, 2018 | CityCouncil/2018-03-06.pdf |