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Finance Highlights 2009 1117
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Finance Highlights 2009 1117
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12/3/2009 12:26:18 PM
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12/3/2009 12:26:17 PM
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CM City Clerk-City Council
CM City Clerk-City Council - Document Type
Committee Highlights
Document Date (6)
11/17/2009
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_CC Agenda 2009 1207
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\City Clerk\City Council\Agenda Packets\2009\Packet 2009 1207
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2. Update on FY 2009-10 Revenue <br />Interim Finance Director Carter provided the Committee with an overview of the major revenue <br />accounts for the General Fund for the first quarter of FY 2009-10 and how it is being impacted <br />by current economic conditions. Council adopted the budget with a revenues projected to be <br />$72.7 million. As of today, the General Fund revenues for fiscal year 2009-10 have been revised <br />to $69.6 million based upon the first quarter outcome. Carter stated that the declines in Property, <br />Sales, and Utility Taxes, for this most recent revision, are approximately $2.0 million. <br />Councilmember Prola asked about expenditures and what impact the Golden Handshake has <br />made. Carter stated that expenditures have decreased however could not provide exact figures as <br />the Golden Handshake has not yet be factored in. <br />3. Discussion Regarding FY 2010-11 Budget Approach <br />Interim Finance Director Carter informed the Committee that the FY 2010-11 Budget process <br />will kick-off on November 19, 2009. Each department will be asked to provide reductions in the <br />amount of 5%, 7%, and 10%. The reductions will continue to be considered in view of the 3- <br />year work-out plan previously discussed with Council. Therefore the reductions may not come <br />all in one year. City Manager Hollister stated that there will be work force reductions and this <br />will be part of the budget process. <br />~. Public Comment <br />None <br />5. Committee Member Comments <br />Mayor Santos asked Interim Finance Director to present the Five-Year Forecast at his Breakfast <br />Club in January 2010. Mayor Santos and Councilmember Prola requested staff bring <br />information back to the Committee in December regarding the request for TABS for the <br />Alameda at San Leandro Crossing project as well as funding for the furnishing of the Senior <br />Center. <br />6. Adjourn <br />The meeting was adjourned at 4:55 p.m. <br />2 <br />
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