Finance Highlights 2008 0219 - Laserfiche WebLink

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to exceed current revenues. However, Jermanis further noted that Council has been discussing various community projects and the potential of expanding police staffing, and that it may be necessary to use reserves to balance the 2008-09 budget. Jermanis stated that we can not continue spending as we are without drawing on reserves and indicated he would like to see the City try and minimize the deficit during the 2008-09 budget process. Mayor Santos stated that he would like to draw on reserves for the $4.1 million shortfall in 2007- 08, then to carefully monitor fiscal year 2008-09 and make any necessary reductions in fiscal year 2009-10. The Committee discussed the issue further and there was no consensus to recommend such a course of action to the full City Council In general, the Committee agreed with using reserves in 2007-08 to meet the revenue shortfall. Staff is currently in the process of developing the 2008-09 budget which will be bxought forward to Council in the upcoming months. 2. Discussion Regarding FY 2007-08 Recommended Mid-Year Budget Adjustments Carter provided a summary of the recommended revenue and expenditure changes for several funds for the 2007-08 budget. Sr. Accountant Galvin stated that all budget adjustments are included in the Mid-Year Performance report previously discussed. Galvin was able to explain each summary in detail and answered questions the Committee had. Vice Mayor Grant asked that if the Finance Committee did not recommend any changes to the report would the adjustments be done as indicated; Jermanis said it would. Mayor Santos asked how many, if any, foreclosures does the City's First Time Home Buyer program have. Vice Mayor Grant stated that she had spoken with Tom Liao, Housing CDBG Manager, and he indicated that there are no foreclosures. Mayor Santos stated that we must monitor the foreclosures. Committee Recommendation The Committee was in agreement that the Mid-Year Budget adjustments, as reported to the Committee, should be forwarded to the City Council for review and adoption. 3. Discussion Regarding Police Department Staffing Assistant City Manager Hollister provided an overview of the additional costs of adding personnel to the police department. The cost of approximately $1 million is based on hiring police officers and staff at the top salary step. Police Chief Attarian expressed his desire to hire 7 new staff members at the following salary cost: 4 Police Officers $168,861 x 4 = $675,861; and 2 Police Service Aides $86,363 x 2 = $172,726; and 1 Public Dispatcher $110,853 Including family medical plans with the salary cost at top step employees, the cost will be $959,022. Attarian also indicated that police employees average 10% of their gross pay in overtime and this would add $46,671 for the 7 employees. In addition there are equipment costs raising the annual total to over $1 million. Attarian indicated the need to add a Crime Prevention Officer. The San Leandro Police Department is the only department in the Bay Area that does not have a designated Crime Prevention Office and at this time, he must pull a patrol officer to 2