CC Min 1992-06-15 Budget - Laserfiche WebLink

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B. RESOLUTION OF INTENTION NO. 11762 TO VACATE A PORTION OF CEDAR STREET IN THE CITY OF REDWOOD CITY PURSUANT TO PART 3 OF DIVISION 9, CALIFORNIA STREETS AND HIGHWAYS CODE; SETTING TIME AND PLACE FOR HEARING ALL PERSONS INTERESTED IN OR OBJECTING TO THE PROPOSED VACATION; AND ORDERING POSTING NOTICE THEREOF C. RESOLUTION NO. 11763 ESTABLISHING SUBMITTAL DATE FOR PROPOSED BUDGET FOR FISCAL YEAR 1992-93, SETTING TIME AND PLACE FOR HEARING THEREON, AND ESTABLISHING DATE OF ADOPTION OF THE FINAL BUDGET FOR SAID FISCAL YEAR ------------------------------------------------------------------------------- 3. STUDY SESSION ON THE BUDGET FOR FISCAL YEAR 1992/93 Mayor La Berge introduced Chuck Ashton, Redwood City Children's Librarian, who prepared the council and audience for tonight's discussion of the proposed budget by telling a story of monetary policies and grave yard tales in the Old West, titled "$4.50." A. Introduction - City Manager Ed Everett City Manager Everett described the one-year budget process instead of the usual two; the organizational format; the City Council guideline that the general fund budget be held to a 4% increase or less; Council priorities of code enforcement, Red Morton building, community center at Redwood Shores, and youth activities; and, service level impacts of a zero based budget. City Manager Everett described the upcoming report from the Water Subcommittee, the proposed increase in water rates from San Francisco and pass through costs and the elimination of seven positions and addition of thirteen positions. B. Overview - Finance Director Gul Ramchandani Finance Director Ramchandani presented the analysis of the budget by fund, using overheads "Where the Dollars Come From", "Where the Dollars Are Spent", "Property Tax", "Property Transfer Tax", "Sales Tax" and "Utilities User Tax" and described Transient Occupancy Tax, Facilities Fees and the impacts of the recession on interest revenues. Director Ramchandani described the negative impacts of the loss of revenues from booking fees; overage from traffic fines; POST reimbursement; cigarette tax; property tax penalties which are now kept by the County, with only the interest returned to the City; and the discussions by state legislators to take away motor vehicle license fees revenues from cities, a proposal to redistribute sales tax by population-based allocations, and reverse AB 8 property tax allocation plan and shift property tax revenues to schools. Adj. Reg. Meeting Minutes June 15, 1992 Page 2 MINUTE BOOK NO. 51 Page No. 109 """'--"""""__"M".' ...--.....