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HomeMy WebLinkAboutMin - CC - 2014.03.05 CIT7 G BURLJNGAME m u'co no �Hxo rune O BURLINGAME CITY COUNCIL Approved Minutes Budget Study Session March 5,2014 I. CALL TO ORDER AND ROLL CALL A duly noticed Budget Study Session of the Burlingame City Council was held on the above date in the Lane Community Room of the Main Library. Mayor Michael Brownrigg called the meeting to order at 6:30 p.m. Mayor Brownrigg, Vice Mayor Nagel and Councilmembers Deal, Keighran and Ortiz were all present. II. INTRODUCTORY REMARKS CM Goldman gave the opening remarks and reviewed the agenda for the evening. III. GENERAL FUND MID-YEAR 2013-14 BUDGET STATUS REPORT `- FinDir Augustine reviewed the general fund mid-year budget status report and gave a thorough overview of projected revenues,property tax, sales tax, and transient occupancy tax and general fund revenues. IV. FIVE-YEAR FINANCIAL FORECAST AND BUDGET POLICY ISSUES FOR FISCAL YEAR 2014-15 CM Goldman gave a presentation about the general fund five-year financial forecast and FinDir Augustine provided an overview of property tax assumptions, sales tax assumptions, and transient occupancy tax assumptions. FinDir Augustine reviewed the expenditure assumptions, including increasing Calpers employer rates and retiree medical costs and advised that the City is contributing $2.5M a year to paying down retirees' health benefits. V. GENERAL FUND CAPITAL NEEDS DPW Murtuza gave a thorough overview of General Fund Capital Improvement Program for FY 2014-15. VI. PUBLIC COMMENTS There were no public comments. VII. COUNCIL DIRECTION ON BUDGET POLICY ISSUES Vice Mayor Nagel made a motion to adopt Resolution No. 14-2014 approving the creation of the landfill fund, solid waste operating fund, general liability internal services fund, workers compensation internal 1 Burlingame City Council March 5,2014 Approved Minutes services fund, and OPEB internal services funds, and approving adjustments to estimated revenues and appropriations in the Fiscal Year 2013-14 Budget; seconded by Councilman Deal. The motion was approved unanimously by voice vote, 5-0. The Council also unanimously agreed to assign $500,000 from the undesignated fund balance to a new General Plan reserve to update the City's 45 year old General Plan. Council was also advised that the City Manager will be requesting another$500,000 in the 2014-2015 budget and the City has also applied for grant money. VIII. ADJOURNMENT Mayor Brownrigg adjourned the meeting at 9:20 p.m. Respectfully submitted, Mary Ellen Kearney City Clerk 2 Burlingame City Council March 5,2014 Approved Minutes