Laserfiche WebLink
A. Approve claims and checks dated June 13, 2011 and the usual and <br /> necessary payments through June 20, 2011. (303) MINUTE ORDER 11-090 <br /> 7. STAFF REPORT(S) <br /> A. . Fiscal Year 2011-2012 Budget Study Sessions. (501) <br /> Dr. Bell provided an overview of what was in store for tonight for Council consideration <br /> (presentation on file). TonighYs presentation will include the Redevelopment Agency, <br /> Sewer Fund, Water Fund and the Capital Improvement Program. One Council Member <br /> noted that Redwood City was named by the San Jose Mercury as "software city". Mr. <br /> Ponty, Finance Director, then provided a financial overview as well as an analysis of the <br /> reserve (presentation on file). He covered general fund revenues, how property taxes <br /> are allocated and used as well as General Fund expenditures. He explained that the <br /> Transient Occupancy Tax (TOT) has been running a little above what is expected and <br /> this is good news but he does not expect it to continue to grow. He noted that the big <br /> unknown is how the Redevelopment Agency (RDA) will turn out and its implications for <br /> Redwood City. He confirmed that the current budget assumptions exclude the Business <br /> License and TOT items (which will be on the November ballot). He explained that the <br /> goal is to close the gap in FY (Fiscal Year) 13-14 and if that occurs he believes we will <br /> have a sustainable organization. He also noted other areas of concern that may impact <br /> the General Fund. <br /> Council Discussion <br /> Vice Mayor Aguirre inquired about the parking fund, its deficit and when this will be <br /> addressed. Mr. Ponty, Finance Director, said that it will depend on Council's actions <br /> and he does not foresee that these subsidies will go away. One Council Member would <br /> like to get a plan to close the gap. City Manager Bell noted that the two components <br /> are price and volume and these need to be looked at. He said that soon the City will <br /> have a new set of eyes with the new Community Development Director and he/she can <br /> look at this with fresh eyes and do more than just tweak it, which is what has been done <br /> in the past. Council inquired about funds coming from citations and Mr. Ponty explained <br /> that citations are a different type of revenue but eventually they flow back into the <br /> General Fund. This Council Member would like to see the new Community <br /> Development Director study a new metering system that might bring us more revenues. <br /> Another Council Member supports a vibrant downtown and believes the two measures <br /> might lead us in that direction. She believes that this will enhance the value of our <br /> downtown properties. <br /> Another Council Member inquired about the secured property tax and this Council <br /> Member would like a better understanding of the residential versus commercial <br /> revenues. Mr. Ponty provided a break down clarifying that 2/3 is attributed to residential <br /> and the rest applies to everybody else. This Council Member wants to be able to tell <br /> the story and this information is useful. She also mentioned that the reserves could <br /> cover an unexpected retirement medical cost. Mr. Bell noted that these discussions <br /> need to continue and this Council Member noted that the Council will also be giving <br /> f <br /> SPECIAL CITY COUNCIL MEETING/BUDGET STUDY SESSION I June 20, 2011 <br /> MEETING MINUTES PAGE 4 <br /> MINUTE BOOK NO. 63 <br /> Page No. 346 <br />