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example of where various jurisdictions could benefit. Other areas mentioned by committee members: South Main Street and First Street, could benefit. 4. Update on Rent Stabilization Measures Discussion {Strategic Plan No. 5} - (CDA) Judson Brown, Housing Division Manager, provided proposed outline for Rent Stabilization Measures Work Study Session as requested by council. Session would be in four parts that includes Academic Perspective and Administrative Perspective with expert speakers. Councilmember Sarmiento commented on better enforcement where tenants and renters are treated fairly and equitably. Need thorough discussion on all alternatives that might fit our community. (Item 6 taken out of order.) 6. Comprehensive Annual Financial Report—Audit Update {Strategic Plan No. 4, 1c} (FMSA) Francisco Gutierrez, Executive Director, introduced Nitin Patel, CPA, Partner with White Nelson Diehl Evans LLP (City auditors). Mr. Patel provided a presentation with an overview of auditors' services, responsibilities, opinion & reports and audit results. A Comprehensive Annual Financial Report (CAFR) were distributed to each committee member. Chairperson Martinez commented she would review report over the next few days. Mr. Patel offered to answer any questions or revisit. 5. Unfunded Liability / PARS Update (Strategic Plan No. 4, 11 (FMSA) Sergio Vidal, Assistant Director of Finance, provided an overview of financial report (CAFR) for the Fiscal Year Ended June 30, 2017, Francisco Gutierrez, commented that pension liabilities now have to be reported on the balance sheet with Internal Service Funds. Also one of the bigger issues is workers' compensation for Fire staff. When outsourced, claims were kept in- house and there is no revenue since fire department is no longer here and employees are no longer paying into it. 7. Review the Debt Management Policy (Strategic Plan No. 4, 1} (FMSA) Francisco Gutierrez, Executive Director, provided presentation and overview of SB1029 requirements and the development of Debt Policy for the City. Policy objectives are in alignment with the City's Strategic Plan and CIP. Finance looking for feedback in order to take to City Council in February for formal adoption. Chairperson Martinez stated she is unable to make comment on debt policy as information was just provided today; but will review and provide comment. Would like to know about any EMT feedback as well. Regarding the CAFR, information in arears and is not prospective. In response to Councilman Sarmiento, Mr. Gutierrez stated that staff does monitor, study and compare with other cities in regards to their unfunded liabilities and exposure. Santa Ana is in the middle; part of the group dealing with liabilities. City Manager Godinez added that due to our staffing levels, Santa Ana is a much leaner, hence our liabilities are midrange. January 8, 2018 1 Economic Development, Infrastructure, Budget & Technology Minutes 13A-5