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CITY OF SAN LEANDRO <br />STAFF REPORT <br />Date: March 13, 2000 <br />To: John Jermanis, City Manager <br />From: Tim Hansen, Finance Director % <br />APPROVED AND <br />FORWARDED <br />TO CITY COUNCIL <br />JOW11 Jermanis <br />CitVYanager MO <br />.Xm- a0 <br />Subject: Update Financial Goals for the 2000-2001 Budget <br />SUMMARY AND RECOMMENDATION <br />a3-a0- 00 <br />(ibsi) <br />It is recommended that the Council adopt the attached updated Financial Goals Statement, which <br />will then be included in the 2000-2001 budget document. <br />BACKGROUND <br />The Finance Committee has requested that the Financial Goals Statement be resubmitted to the <br />Committee on an annual basis for review of any changes, additions and/or deletions that might <br />appropriately occur, and that it be submitted to the full Council for approval thereafter. <br />DISCUSSION <br />The City Council originally adopted a set of Financial Values in 1989-1990. Over the years that <br />document has evolved into the attached Financial Goals Statement. Last year the basic statement <br />went through a significant change in form. This year there are a few recommended <br />changes/additions to last year's document, and the recommended addition of a new section on <br />Capital Financing and Debt Management. <br />The changes/additions to last year's document are some update language in the second paragraph <br />of the introduction, some more aggressive language in section I.A.9), and the addition of I.B.1) <br />on debt payment. All of section II, on Capital Financing and Debt Management, is newly added <br />to the statement and covers all aspects of debt and its administration. <br />There will be future additions to this document, as the are developed, for areas such as <br />purchasing, capital improvement program, investments, and risk management. <br />Fiscal Impact <br />None. <br />4219 <br />