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priorities for excess funds. City manager, David Cavazos stated funds are tracked <br />by departments and are included in their budgets. <br />Councilmember Vince Sarmiento compares Management Partners' forecast as blah <br />versus the new forecast as rosy. Would like to see forecast not too conservative; <br />more reality. May need a rating review. City Manager stated cost of credit rating <br />review is expensive. Previous forecast from Management Partners reflected city <br />Fire Department to Orange County Fire Authority (OCFA) and other assumptions <br />that have changed. <br />5. Unfunded Pension Liabilities and Other Post Employment Benefits (OPEB) <br />Discussion (CMO) <br />We are currently under a five year rate smoothing rule of 8.5% set by CalPERS. <br />The City has met 100% of its actuarial requirements. Retirement health plans are <br />being implemented to help reduce OPEB liability. Recommend establishing an <br />Employee Stabilization Rate Reserve Fund to protect against future rate volatility. <br />6. Development Services Counter Electronic Queuing System — Progress Update <br />(PBA)a <br />Matt Foulkes, Senior Management Analyst, PBA provided brief description of <br />Electronic Queuing System. Currently reviewing RFP's and anticipates taking <br />recommendation to City Council in March. <br />7. Prop 1A — Gas Tax Update (FMSA) <br />City has not received its allocation and is still awaiting figures to the complicated <br />formula. <br />COMMITTEE MEMBER COMMENTS - None <br />STAFF MEMBER COMMENTS -None <br />Adjournment— 1:27 p.m. <br />Teresa Ramirez, C41 -OM <br />Recordi g Secre ry, CD <br />January 27, 2015 (Special) I Finance, Economic Development, & Technology Minutes <br />13A -15 <br />