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File Number: 16-508 <br />The Committee recommends bringing refunding of Lease Revenue Bonds to Council <br />for approval at an October 2016 meeting with requested analysis. <br />2.B.Budget in Brief/Prioritizing Unfunded Lability Liquidation <br />Budget and Brief was passed out to the Committee for review and discussion. Discussion <br />regarding the budget and increase in unfunded liability, CalPERS update and Alameda <br />County Fire and Public Safety, was led by City Manager Zapata and Assistant Finance <br />Director Fuentes. City Manager Zapata indicated that CalPERS unfunded liability and ACFD <br />retiree health care unfunded liabilities have increased a total of $25 million since last year. <br />The cause for the increase is due primarily to poor investment performance relative to the <br />assumed rates of return used by the actuary. <br />City Manager Zapata stated a report will be provided to Council at a future meeting. <br />3.PUBLIC COMMENTS <br />None <br />4.COMMITTEE MEMBER COMMENTS <br />Mayor Cutter would like to see a report on how the City plans on reconstructing the roads. <br />City Manager Zapata stated that staff is doing an analysis on borrowing on future revenues. <br />Further analysis will be performed. <br />5.ADJOURN <br />The meeting was adjourned at 5:45 p.m. <br />Page 3 City of San Leandro Printed on 10/11/2016