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CITY COUNCIL FINANCE COMMITTEE <br />January 27, 2010 <br />4:00 p.m. - 5:30 p.m. <br />San Leandro City Hall <br />835 East 14~h Street <br />San Leandro, California <br />(Sister Cities Gallery) <br />HIGHLIGHTS <br />Committee Members: Mayor Santos, Councilmember Prola, Councilmember Souza <br />City Staff Present: City Manager Hollister, Assistant City Manager Marshall, Interim Finance <br />Director Carter, Community Development Director Sims, Human <br />Resources Director Caire, Business Development Manager Battenberg, <br />Deputy Finance Director Rodriguez, Budget & Compliance Manager <br />Perini, Recreation & Human Services Manager Cronin, Recreation & <br />Human Services Manager Oliver, Administrative Analyst Kay, <br />Accountant II Galvin, Administrative Assistant III Perez <br />Public Present: Bob Leigh, Dave Johnson, Steven Tavares, Stephen Cassidy, Jim Knowles <br />The meeting was called to order at 4:05 p.m. <br />1. Discussion Regarding Comprehensive Annual Financial Report (CAFR) for Fiscal Year <br />Ending June 30, 2009. <br />Interim Finance Director Perry Carter presented to the Finance Committee the Comprehensive <br />Annual Financial Report (CAFR) for the Fiscal Year Ended June 30, 2009. Carter recognized <br />Deputy Finance Director Carla Rodriguez, Sr. Accountant Christine Galvin, Accountant I <br />Clarence Youngs, and Administrative Assistant III Sally Perez for their work on putting the <br />CAFR document together. Carter informed the Committee that the City of San Leandro has <br />again received a "clean" opinion letter from the auditors, Vavrinek, Trine, Day & Co. <br />Carter provided an overview of the General Fund balance for the fiscal year ended June 30, 2009 <br />and explained the year ending balance of $7.6 million shortfall. The decline in Tax Revenue <br />(Sales, Property, Real Property Transfer, and Utility User) is the primary reason for the shortfall. <br />Carter also provided a summary of other funds including: Enterprise Funds, Redevelopment <br />Agency, Debt Service, and Capital Project Funds. <br />Committee Recommendation <br />Committee recommended taking to Council for approval. <br />1 <br />