|
<br />.. ...,.
<br />. .. . " : . ,; , ,~ '.' ,.
<br />
<br />
<br />
<br />
<br />,.:.
<br />
<br />!:
<br />
<br />. . . . . " '
<br />. , .'- .
<br />.... .. ... ..
<br />:; .am.ounted to $10.250.3.24. The. primary .diff~.reri~e'between this figure.and th~ enti~-wide investment em:nings'is. .;u
<br />.the rec"lassification of certain"investrnent- earnings.to their respective: program revenues.; At the end of fiscal year. ..
<br />2007/08, the totalinvest.ments, including caslFwith fiscal agents, cash :at banks, :and. petty ca'sh, '..stood at
<br />$192,98 1 ,087~ . .:
<br />
<br />. .
<br />
<br />.. ....: Redwood City's investment objectives. are to maintain: Jiq.uidity. and .to. minimize:credh .and : market risks: while
<br />. :maintaining a competitive. yield on its portfolio. Accordingly,.deposits were either insured by federalaepository
<br />.,' . ;: insurance or collateralized: . , .
<br />
<br />. .
<br />.. .
<br />. ..
<br />,Risk Management and.Self-Insurao.ce Fund. :..... ,.: .:' .
<br />.'In-July1990. the City joined the Ba)~ Citi~s ,Joint Powers Insurance Authority.to meet"its:generalliability insurance.: '
<br />needs. Bay Cities is a general liability irisurance pool con~i~ting of 17 San Francisco. Bay Area:' public agencies. ':.
<br />c. The:pool provides, throu.gh .rejnsurance,:$l~OOO.,O~)(fof covefag~ in excess of the City's $350,000 self-insurance
<br />: retention. : .Claims .administration :aJ1d loss control support to member agencies are also ~prov~ded by the insurance
<br />pool. Bay Cities belongs to theCalifomia Affiliated: Risk Management .Authority (CARMA.) which is an excess..: .
<br />liability:pool comprised.of~.ay':Area cities.and ..five other lo<;al government insurance pools.. CARMA provides,
<br />coverage:from $1,000,001 to $25,000,000. : The layer from $l,OOO~OOl to "$5,000.000 is self-insured by CARMA:.. .
<br />whilethp layer"from $5,00:0,001 to :$2.5.000~OOO. is insured by commercial insurers: ...
<br />
<br />., . , . ,
<br />
<br />Appropriation. Limit ,:'j" :' . :. ' . : . . .
<br />Ankle XlllB of-the California. . State Constitution~ which became effective . in the 1979/80. fiscal year, and which
<br />was modified (by. P.rOpOsiiion Hl) in November 19B9~. establishes,; by. forfllula, an. :appropriation limit for
<br />govermnentaLagendes. Using the appropriations .of fiscal year: 19781:79.:as:t~e:,base .year. the. limit is modified by
<br />. the chan.ge'in.the composite consumer price..index...population,and.the value. of.commercialipropertydevelopment
<br />. , . withinthc'City limits durin.g each fis:cal year:. Article X.llIB ats<-) sets the guideHnes as "to what is to be included in
<br />.. the appropriation limits. : ~ : .. . , . ... .. :
<br />
<br />The appropnatlOnJiniit for .Redwood..City for the fiscal year. 2007/08 is at $288,449,808 while the actual
<br />appropriations subject tai,the limit amounted to..$59,1"77,064..: The foHowing ;gCaph indicates the trend in
<br />appropriations: subject to'limitclti?n: ..
<br />
<br />.! '
<br />
<br />.:: Exc:ludlng General Improvem.nt:and Proprietary FttiJds
<br />
<br />$300.000;000
<br />.. $275,000.000
<br />$250,000,000
<br />$225,000,000
<br />$200,000,000
<br />,: $176.000,000
<br />. $150,000,000
<br />$126.000,000
<br />$100,000,000
<br />$75.000.000
<br />, $50,000,000.
<br />;. $26,000,000 I
<br />$0
<br />
<br />
<br />: E .
<br />
<br />, FY 2004.05.'
<br />
<br />FY 2005-06
<br />
<br />FY 2006-07 . .,. FV 2007.08..
<br />
<br />.. .
<br />
<br />. .
<br />
<br />~t.LimJt .(Sub. to Limk: , : :.;
<br />
<br />:i ::'
<br />
<br />
<br />j "
<br />
<br />
<br />
|