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6.1.C. - Page 3 <br />The long-term fiscal sustainability of the City is based upon taking prudent, meaningful, <br />and swift actions to address the City's pension obligations. As discussed, the City has <br />already taken many significant steps towards this goal, and staff will work with the City <br />Council Finance and Audit Committee to evaluate the recommendations contained in <br />the Grand Jury report and take additional steps towards addressing the City's pension <br />costs. <br />ALTERNATIVES <br />The City Council could direct staff to modify the response to the Grand Jury report, <br />developing a new response letter for City Council consideration prior to October 15, <br />2018. <br />FISCAL IMPACT <br />There is no anticipated fiscal impact. <br />ENVIRONMENTAL REVIEW <br />This activity is not a project under CEQA as defined in CEQA Guidelines, section <br />15378, because it has no potential for resulting in either a direct or a reasonably <br />foreseeable indirect physical change in the environment. <br />4`11-1 -1) <br />KIMBRA MCCARTHY <br />ASSISTANT CITY MANAGER - ADMINISTRATIVE SERVICES <br />111_ P., kl, <br />MELISSA STEVENSON DIAZ <br />CITY MANAGER <br />ATTACHMENTS: <br />1. Response to Civil Grand Jury Report entitled "Soaring City Pension Costs — Time <br />for Hard Choices" <br />2. County of San Mateo Grand Jury Report entitled "Soaring City Pension Costs — <br />Time for Hard Choices" <br />