Finance Highlights 2011 0318 - Laserfiche WebLink

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3. Discussion Regarding FY 2011 -12 Capital Improvement Project (CIP) Plan City Engineer Joseph provided the Committee with a list of FY 2011 -12 Proposed CIP Program Projects as well as an explanation of the funding sources. The CIP budget is $3.4 million, $20k of which is funded by the General Fund. Various projects include: Annual Street Sealing Program, Annual Overlay/Rehabilitation Program, Sanitary Sewer Line Replacement, and Annual Sidewalk Repair Program. Each project has gone before Council and has been ranked in accordance with priority. Currently there are 61 potential projects. Joseph stated that the cost of these projects continues to rise and the priority of the City is to maintain the level of today. Mayor Cassidy requested that staff work with Cal Trans in improving the Downtown streets. It is important that we provide quality roads so that citizens want to come into the area. Engineering and Transportation Director Udemezue stated that they are in continues contact with Cal Trans however due to the State's economic difficulties, the City of San Leandro is one of many cities requesting street improvements. Unfortunately, E. 14 Street as well as Davis Street are State highways and therefore must be maintained by Cal Trans. Mayor Cassidy stated that he would speak with Senator Ellen Corbett however would like to meet with Engineering & Transportation staff to obtain further information. 4. Discussion Regarding Investment Report — Quarter Ended December 31, 2010 Budget and Compliance Manager Perini provided an overview of the City's portfolio and explained that the market value was $77.6 million. Of this amount, $49.7 million is in the Local Agency Investment Fund (LAIF) and $27.9 million is in the Chandler Asset Management program. The Chandler Investment Report indicates that the City is in compliance with all provisions of the City's Investment Policy. Perini focused on the overview and informed the Committee that the strategy recommended by Chandler will to continue to gradually lengthen the average maturity of the portfolio to capture higher interest rates. Perini also provide the Committee with a glossary to assist Mayor Cassidy as well as Councilmember Cutter. Finance Committee accepted report 5. Public Comments Dave Johnson of the San Leandro Chamber of Commerce reminded the Committee that although the Governor's Office has threatened to eliminate the Redevelopment Agencies, there is a basic obligation to the local businesses. 6. Committee Member Comments Councilmember Souza stated that the City must look into the fundamental and core responsibilities to the local businesses. Mayor Cassidy requested that staff look into the possibility of waiving the Business License fee for 1 to 2 person businesses and providing translation services, e.g. Spanish, Chinese, etc., on designated days and advertise to the local businesses. Mayor Cassidy also requested that staff research and determine if the City is doing enough for Disaster Preparedness. 7. Adjourn The meeting was adjourned at 9:50 a.m. 2