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document. He further explained he and Vice Mayor Claire had discussed parameters with the budget team and full agreement was attained. The Performance Measurement standards were included in the budget for the first time and the document layout and readability is greatly enhanced. Vice Mayor Claire thanked Chairperson Ira and explained that although the format does not include line items, the individual department budgets were available for perusal in the Council Study. He stated it was the best budget in terms of readability. II) Welcome (by Ed Everett, City Manager); City Manager Everett explained the various segments of the presentation and that this is the third time the CIP has been presented. He further explained it is over a year long process preparing the budget and went through the chronology of the Council decision making process that led to the proposed budget. City Manager Everett gave examples of increases in productivity in the Clerk, Fire and Human Resources Departments. Examples of collaboration and entrepreneurial ventures by the Library, Finance, Community Development Services, Human Resources, Public Works, Parks and Recreation, Fire Department and Police Department were given. 1II) Financial Overview (by Brian Ponty, Finance Director); Financial Services Director Ponty gave an overview of the General Fund Revenues and Expenditures for each of the next two fiscal years. Overall, he stated the outlook is robust with housing and commercial real estate prices are strong and local sales are showing solid gains. He indicated the situation is not likely to last indefinitely. The funding sources for the General Fund are consistent with the Sales Tax at 30% of revenues and Property Tax at 24 %. The next single largest funding source is revenue from other agencies which accounts for about 12% of the revenues. Expenditures were explained indicating employee costs account for over two thirds of the expenditures. Supplies and services, which include P.G. & E., telephone, professional services and office supplies are the next highest percentage, followed by internal services such as functions provided to us and charged against each other. The smallest portion of the budget is the fixed assets. Looking ahead to the second year of the proposed budget, sales tax and property tax remain the largest sources of funding. Financial Services Director Ponty explained the potential sales tax leveling off due to electronic sales rather than a tangible format leading to the projection of a 3 -1/2% increase in sales tax which is lower STUDY SESSION MINUTES JUNE 5, 2000 PAGE 4 MINUTES Book No.58 Page NO. 122