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example of where various jurisdictions could benefit. Other areas mentioned by committee <br /> members: South Main Street and First Street, could benefit. <br /> 4. Update on Rent Stabilization Measures Discussion {Strategic Plan No. 5) - (CDA) <br /> Judson Brown, Housing Division Manager, provided proposed outline for Rent Stabilization <br /> Measures Work Study Session as requested by council. Session would be in four parts that <br /> includes Academic Perspective and Administrative Perspective with expert speakers. <br /> Councilmember Sarmiento commented on better enforcement where tenants and renters are <br /> treated fairly and equitably. Need thorough discussion on all alternatives that might fit our <br /> community. <br /> (Item 6 taken out of order.) <br /> 6. Comprehensive Annual Financial Report—Audit Update {Strategic Plan No. 4, 1c} <br /> (FMSA) <br /> Francisco Gutierrez, Executive Director, introduced Nitin Patel, CPA, Partner with White Nelson <br /> Diehl Evans LLP (City auditors). Mr. Patel provided a presentation with an overview of <br /> auditors' services, responsibilities, opinion & reports and audit results. A Comprehensive <br /> Annual Financial Report (CAFR) were distributed to each committee member. Chairperson <br /> Martinez commented she would review report over the next few days. Mr. Patel offered to <br /> answer any questions or revisit. <br /> 5. Unfunded Liability / PARS Update {Strategic Plan No. 4, 1} (FMSA) <br /> Sergio Vidal, Assistant Director of Finance, provided an overview of financial report (CAFR) for <br /> the Fiscal Year Ended June 30, 2017. Francisco Gutierrez, commented that pension liabilities <br /> now have to be reported on the balance sheet with Internal Service Funds. Also one of the <br /> bigger issues is workers' compensation for Fire staff. When outsourced, claims were kept in- <br /> house and there is no revenue since fire department is no longer here and employees are no <br /> longer paying into it. <br /> 7. Review the Debt Management Policy {Strategic Plan No. 4, 1} (FMSA) <br /> Francisco Gutierrez, Executive Director, provided presentation and overview of SB1029 <br /> requirements and the development of Debt Policy for the City. Policy objectives are in <br /> alignment with the City's Strategic Plan and CIP. Finance looking for feedback in order to take <br /> to City Council in February for formal adoption. <br /> Chairperson Martinez stated she is unable to make comment on debt policy as information was <br /> just provided today; but will review and provide comment. Would like to know about any EMT <br /> feedback as well. Regarding the CAFR, information in arears and is not prospective. In <br /> response to Councilman Sarmiento, Mr. Gutierrez stated that staff does monitor, study and <br /> compare with other cities in regards to their unfunded liabilities and exposure. Santa Ana is in <br /> the middle; part of the group dealing with liabilities. City Manager Godinez added that due to <br /> our staffing levels, Santa Ana is a much leaner, hence our liabilities are midrange. <br /> January 8, 2018 I Economic Development, Infrastructure, Budget & Technology Minutes 3 <br />