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File Number: 12 -055 <br />been mailed out. <br />Mayor Cassidy inquired about the Shoreline Fund and asked for a report on the revenues vs. <br />expenditures at a future meeting, as well as the legal fees. <br />3. Discussion Regarding Mid -Year 2011 -12 Budget Amendment <br />Mr. O'Leary presented the Mid -Year Budget Amendments for 2011 -12. Mr. O'Leary stated <br />that the biggest change is the transfer of PEG (Public Education Government) funds of <br />$180,907 from the General Fund to the Special Revenue Fund. Other budget changes <br />include: $24,000 approved for improvements to the Dispatch console; correction of $40,635 to <br />the City Attorney's retainer cost (previously discussed with the Finance Committee); and <br />recruitment assistance cost from the outside for the Police Sergeant recruitment. <br />Committee Recommendation <br />Committee recommended taking to City Council for approval. <br />4. Update and Continued Discussion Regarding Status of Plan for Refinancing CalPERS <br />Public Safety Side Fund <br />Mr. O'Leary informed the Finance Committee that staff has proceeded with the transfer of $6 <br />million from the Water Pollution Control Plant Fund to the General Fund for the payment to <br />CalPERS to bring down the Side Fund, as previously approved by City Council. CalPERS <br />has adjusted the Employer rates and we are now at a rate of 5.9 %. Once the bonds are <br />issued, the Side Fund will be eliminated. Mr. O'Leary said the City is waiting for the signed <br />judgment from Court. However, he was informed by Bond Counsel that the Alameda <br />Courthouse remains significantly back logged. Mayor Cassidy asked for information on the <br />Judge, Court Clerk, and Bond Counsel assigned as he would like to contact them. <br />5. Public Comments <br />None <br />6. Committee Member Comments <br />None <br />7. Adjourn <br />The meeting was adjourned at 9:30 a.m. <br />City of San Leandro Page 3 Printed on 211512012 <br />