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CITY COUNCIL FINANCE COMMITTEE <br />October 20, 2009 <br />4:00 p.rn. - 5:30 p.m. <br />San Leandro City Hall <br />835 East 14r~ Street <br />San Leandro, California <br />(Sister Cities Gallery) <br />HIGHLIGHTS <br />Committee Members: Mayor Santos, Councilmember Gregory, Councilmember Prola <br />City Staff Present: City Manager Hollister, Assistant City Manager Marshall, Assistant to the <br />City Manager Diaz, Interim Finance Director Carter, Police Chief Willis, <br />Human Resources Director Caire, Public Works Director Bakaldin, <br />Budget & Compliance Manager Perini, Accountant II Galvin, <br />Administrative Assistant III Perez <br />Public Present: Jerry Maughan, Sherryl Maughan, Catherine Lew <br />The meeting was called to order at 4:12 p.m. <br />Agenda item No. 1 was switched with item No. 2 <br />1. Discussion Regarding Investment Report for Quarter Ending June 30, 2009 <br />Interim Finance Director Carter provided an overview of the City's portfolio and explained that <br />the value was approximately $107 million. Of this amount, $78.4 million is in the Local Agency <br />Investment Fund (LATE) and $28.6 million is in the Chandler Asset Management program. The <br />Chandler Investment Report indicates that the City is in compliance with all provisions of the <br />City's Investment Policy. Carter focused on the overview and informed the Committee that the <br />strategy recommended by Chandler is to gradually lengthen the average maturity of the portfolio <br />to capture higher interest rates. <br />Finance Committee accepted the report. <br />2. Discussion Regarding Revenue Measures-Public Information Program <br />City Manager Hollister provided an overview of the revenue measure survey recently conducted <br />by Godbe Research. In particular, Godbe polled citizens on two specific revenue measures: 1) <br />an increase of 0.25% to the Sales Tax or 2) formation of a Lighting and Landscape District. As a <br />follow-up to the survey and as part of assisting the City in making a decision on which revenue <br />measure, if any, to pursue, the City Manager is recommending a Public Information Program. <br />The Public Information Program would inform the community of the revenue measures as well <br />