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to be used for labor costs. Hence resolution needed with council 5 votes, for two- <br /> year use, giving staff direction to make changes. <br /> FY 2017-18 Identified Priorities: Items listed intended to provide information as <br /> discussed and available for council consideration; but not currently part of the <br /> budget. Budget gap would increase if included. Generating additional revenue or <br /> major cost reduction would need to be discussed for FY 18/19. Seeking committee <br /> direction on whether you want to go with base budget or put in any of the other <br /> items. <br /> Mayor Pro Tern Martinez stated Smart Cities concept: "Smart cities" solutions use <br /> advanced information and communication technologies to collect, communicate, <br /> and analyze data to improve the design and operations of a city's core systems and <br /> programs, as well as citizen engagement, for greater efficiency and effectiveness, <br /> thus improving the city's sustainability, resilience, bottom line and quality of life. <br /> How we transition with park ranger program has been asked for by community and <br /> should be put down on list. More plan checkers and inspectors in planning working <br /> with developers by hiring staff to help capture and recover costs and generate <br /> monies. Email will be sent with list of items for consideration. <br /> 6. Discuss Revisions to Budget and Fiscal Policy {Strategic Plan No. 4, ld} - <br /> (FMSA) <br /> Francisco Gutierrez provided presentation on Budget & Financial Policy. Current <br /> policy adopted in 2012 was developed for dealing with recession of 2008 and City <br /> shortfalls. Timeline of 2006 to 2012 reviewed. Current reserve level goals and <br /> value were also reviewed. Reserve levels are based on year-end operating <br /> expenditures. As the budget grows, you're chasing the 20%. Operating reserve <br /> cannot be used to cover budgetary shortfalls unless approved by 2/3 vote of the <br /> City Council. <br /> Robert Cortez added: Two year plan to insure sustainability. If council choses by <br /> 2/3 vote to use operating reserve, the fiscal policy would then require the council to <br /> develop a two year plan. This would then replenish and achieve 20% reserve goal <br /> over a two year period. Committing to be fiscally prudent to raise enough funding or <br /> savings to get reserves back to 20%. <br /> Councilmember Sarmiento inquiring if declaration of fiscal crisis required, but not <br /> stated in policy. Would like staff to check with City Attorney's office if language for <br /> declaration of crisis included. Mayor Pro Tem Martinez would only support one time <br /> use of funds for resolution; not for ongoing costs. <br /> Economic Uncertainty minimum reserve level ranges from 1% to 10% of general <br /> fund revenues; current balance is $3.8M, a little over 1.5%. Economic Uncertainty <br /> can be used to balance the budget upon determination of a structural deficit by a <br /> May 15, 2017 'Economic Development, Infrastructure, Budget & Technology Minutes 5 <br />