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Kay Ayala asked Councilmembers to ask staff if they have met formally or informally with the <br /> Lin's for a new project and if they considered that the referendum is not one year old. <br /> Mr. Fialho said staff met with the Lin's representatives last week at the Lin's request, informed <br /> staff that they were planning to submit a modified development project for the City's <br /> consideration and that they planned to submit it within the next 7 -10 days. Mr. Lowell responded <br /> to the question regarding whether an application can be submitted within one year of the <br /> previous referendum, stating that it depends upon what application is submitted. Staff will <br /> evaluate what is submitted and his office will be reviewing both the Elections Code and their <br /> own procedures. <br /> Stefan Hall and Emily Truax, Pleasanton Youth Commission and members of the Amador <br /> Valley High School We the People Team, announced their efforts to raise funds to go to <br /> Washington, D.C., as they recently won the California State Championship for "We the People" <br /> Team. Funding is being cut and they asked for community support through mailed donations to <br /> the high school at 1155 Santa Rita Road, Pleasanton, CA 94566 or via a donation website at <br /> www.everribbon.com /r /avhsconcivics. A Sweet Tomatoes fundraiser is planned in late March <br /> and they will do their best to bring home the national title. <br /> Councilmembers congratulated students, recognized their hard work, the significant cuts in <br /> funding affecting the program, and wished them much success in fundraising and in the <br /> competition. <br /> Kathy Dowding read into the record a quote from Howard Zinn on war and terrorism, cited total <br /> costs of the wars as $530 million, and read a list of the names of military men and women <br /> whose lives were lost in Iraq and Afghanistan. She invited everybody to a peaceful protest on <br /> March 23, 2011 at 5:00 p.m. at First and Neal Streets. <br /> PUBLIC HEARINGS AND OTHER MATTERS <br /> 16. Consider a resolution accepting the Midyear 2010/11 FY Operating Budget Update <br /> City Manager Fialho stated this is the second year of the two year budget to reflect revised <br /> expenditures and revenues. He introduced Emily Wagner, Director of Finance, to provide the <br /> presentation and said at the conclusion of her presentation, a general overview will be provided <br /> of dates for special meetings related to Council priorities and budget workshops culminating <br /> with the approval of the next two -year budget cycle. <br /> Director of Finance Emily Wagner gave the staff presentation and a description of the adoption <br /> and review periods of the two -year budget cycle, as well as annual audits. She said staff is <br /> updating Operating Funds which include the General Fund, Enterprise Funds, Water, Sewer, <br /> Golf Course, Internal Service Funds, Self- Insurance, Vehicle Equipment and Facility <br /> Replacement Funds, and Special Revenue Funds. <br /> Ms. Wagner discussed the General Fund, stating when the budget was adopted in June 2009 <br /> the City had a balanced budget. Total sources were $87.3 million and total uses were also <br /> $87.3 million. In June 2010, when the 2010/11 FY budget was updated, staff was anticipating a <br /> deficit. Staff was looking at revenues decreasing at $84.9 million and expenditures going up to <br /> $87.6 million, for a $2.6 million operating deficit. Staff recommended at that time that a portion <br /> of the ending Fund Balance or Reserves would be set aside to fund the deficit. <br /> City Council Minutes Page 4 of 8 March 15, 2011 <br />