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CITY COUNCIL FINANCE COMMITTEE <br /> • <br /> September 21, 2010 <br /> 4:00 p.m. — 5:30 p.m. <br /> San Leandro City Hall <br /> 835 East 14 Street <br /> San Leandro, California <br /> (Sister Cities Gallery) <br /> v <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, Deputy Finance Director Rodriguez, Assistant to the City <br /> Manager Diaz, Budget & Compliance Manager Perini, Accountant 11 <br /> Galvin, Administrative Assistant 111 Perez <br /> Public Present: Dave Johnson, Corina Lopez, Amy Sylvestri, Steve Tavares <br /> The meeting was called to order at 4:01 p.m. <br /> 1. Discussion Regarding Budget Adjustments FYE 2009 -10 <br /> Interim Finance Director Carter provided a summary of the year -end budget adjustments of fiscal <br /> year 2009 -10 totaling 54,217,267. Carter explained that during the course of the fiscal year <br /> various events occur which requires budget recognition. The total of adjustments is from several <br /> funds including the General, Shoreline Enterprise, Capital Improvement Projects, and <br /> Redevelopment Funds. <br /> The Committee questioned the funding of the Pathway, Toyon Park, and Senior Center projects. <br /> Staff indicated that WW funds were designated to be used for Pathways and Toyon Park. The <br /> Redevelopment Agency of the City of San Leandro (RDA) received 5450,000 of HUD monies <br /> for the Senior Center; which allowed the RDA to put monies back into the Joint Project Area. <br /> The Finance Committee accepted the report. <br /> 2. Preliminary Review of Revenues and Expenditures FY 2009 -10 <br /> Carter reviewed an analysis of preliminary results of operation for the General Fund for fiscal <br /> year 2009 -10 with the Finance Committee. The analysis reflects the differences between what <br /> was reported to the Committee in May 2010 and year -end. In May 2010, staff reported to the <br /> Committee that the General fund would end the year with approximately S3.8 million in the <br /> Ending Designated Fund Balance. Staff is now estimating the Ending Designated Fund Balance <br /> to be S4.5 million. It appears that Sales Tax revenue has "hit bottom" and it is not anticipated to <br /> 1 <br />