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Mayor La Berge asked if anyone else wished to speak. No one else wished to speak. MIS: BURY/MURRAY TO CLOSE THE PUBLIC HEARING. CARRIED BY UNANIMOUS VOICE VOTE AND HEARING CLOSED AT 9:56 P.M. MINUTE ORDER NO. 92-103 TITLE READ. MIS: MURRAY/STANGEL RESOLUTION NO. 11784 VACATING A PORTION OF CEDAR STREET IN THE CITY OF REDWOOD CITY, PURSUANT TO PART 3 OF DIVISION 9, CALIFORNIA STREETS AND HIGHWAYS CODE, SUBJECT TO THE SATISFACTION OF CONDITIONS STATED HEREIN ADOPTED BY UNANIMOUS ROLL CALL VOTE. -------------------------------------------------------------------------------- B. PUBLIC HEARING - The Recommended Annual Budget Fiscal Year July 1, 1992 - June 30, 1993 (401-02) Affidavit of Publication of Notice is on file. REPORT: Finance Director, July 6, 1992 City Manager Everett reminded everyone that the state of California is considering financial measures to cover their $11 billion deficit which could, and probably will, create financial problems for California cities, and that the budget if adopted tonight could be amended in the future. City Manager Everett advised that the City Council had conducted three separate study sessions to consider the proposed budget. Finance Director Ramchandani presented the final budget as amended including the addition of $31,656 added by the Council; the Seaport Centre Maintenance District operations expenditure projection of $54,000; $27,381 for Congestion Management Program; and $25,134 from Measure A funds for Caltrain Shuttle Service to Redwood Shores. In response to Councilman Stangel's questions, City Manager Everett advised that SamTrans actually runs the shuttle and this will be the last time the City will be charged for this service as it is recognized that this is really a regional service. Councilman Murray asked Director Ramchandani to explain why the "general governmental allocations" that appear in several of the special districts and in the GID 1-64 budget are not double taxation. Director Ramchandani explained that the GID 1-64 is funded by property tax that every property owner pays the same tax rate and the monies are distributed to different funds. In Redwood Shores a certain amount is put in the Maintenance District fund to pay for maintenance, and a very small part of that fund (this year it is $4,900) is used to reimburse the general fund for administrative overhead charged to the District. Mr. Ramchandani explained that if those costs were charged elsewhere it would not affect the amount of tax property owners in Redwood Shores would pay, and to charge general fund Regular Meeting Minutes July 6, 1992 MINUTE BOOK NO. 51 Page 11 Page No. 135 ,- ~ -