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HomeMy WebLinkAbout05.06.2015 SP Minutes @2:00I&I'AN119 Meeting will be held at: CHIAIALL CONFE.RENCE RO()M 400 GRAND AVENITE S01 ITH SAN FRANCISCO, CA WEDNESDAY, MAY 6, 2015 2:00 P.M. Purpose of the meeting: I. Call to Order. 2:00 p.m. 2, Roll Call. Present: Vice Mayor Addiego and Mayor Garbarino. Absent: None, 3. Public Comments. None. 4. Update on Public Facilities at PUC Site: Costs and Bonding Capacity (Jim Steele, Assistant City Manager). Assistant City Manager Jim Steele reviewed three different options concerning the PUC Site: (1) to pursue the full build-out with very little money left over and extensive bond sales; (2) to commit to a limited build-out with more money left over and less bonds needed after debt service; or (3) to pursue the limited build-out and opt for significantly less bond sales, 5. Fiscal Year 2015-2016 Budget Presentation. (Richard Lee, Finance Director). Finance Director Richard Lee presented the five year forecast and how the 2015-2016 Budget fits into future plans. A consistently tight, yet balanced budget was represented with a chart to illustrate the trajectory. Given 84 million dollar revenues and 83.9 million dollar expenditures, there is anticipated to be approximately 60 thousand dollars left in the reserves, which reflects a high, conservative 20% of the 15-20% recommendation leaving the City in good standing. BUDGET SUBCOMMITTEE MEETING AGENDA MAY 6, 2.0X5 PAGE 1 6, Fiscal Year 2015-2016 CIP Presentation. (Brian McMinn, Director of Public Works). Director of Public Works Brian McMinn went over a list of potential City projects to be evaluated, prioritized, and eventually pursued with Capital Improvement Program money. Of the various projects discussed, Subcommittee member's preferred that HVAC replacements and other imperative needs be addressed first, followed by function related concerns assessed through short and long-term goals. 7, Adjournment. Being no further business, the meeting was adjourned at 3:40 P.M. BUDGET SUBCOMMITTEE MEETING MAY 6, 2 ©I5 AGENDA PAGE