CCMIN02052019 - Laserfiche WebLink

Bella Beatty, student at Walnut Grove Elementary School, reported that plastic is hurting the earth and wasting money. She would like to see Pleasanton use less single-use plastics. Tara, student at Walnut Grove Elementary School, encouraged the City Council to stop the use of single-use plastics in Pleasanton due to the impacts on the oceans and sea life. Jacob McArdle, student at Walnut Grove Elementary School, expressed his support for receiving straws at restaurants upon request only and advised single-use plastics are killing sea life. Eliana Kops, student at Walnut Grove Elementary School, advised City Council there is an island in the middle of the ocean made of trash that is twice the size of Texas. She expressed concern for the sea life and would like to see a plastic-free Pleasanton. Saanvi Kulkarni, student at Walnut Grove Elementary School, advised City Council that there is more trash in the ocean than sea life. She would like to see restaurants providing single-use utensils upon request only. Edward Joang, student at Walnut Grove Elementary School, suggested restaurants be required to use bamboo straws which is safer for the environment. PUBLIC HEARINGS AND OTHER MATTERS 14. Accept the Comprehensive Annual Financial Report (CAFR) and other related audits for the year ending June 30, 2018. Tina Olson, Director of Finance reviewed the agenda report and provided a PowerPoint presentation addressing the FY 2017/18 CAFR which included: Transmittal Letter, Financial Section, and Statistical Section. The net position is that total assets exceed liabilities at the close of FY 2017/18 by $741.4 million, which is an increase of $3.4 million from the restated beginning FY 2017/18 net position. She reported the restated balance is to account for the Other Post- Employment Benefits (OPEB) liability from the prior year. The assets are $978 million of which $700 million is capital assets which includes the City's right of ways, parks, and buildings. Current and other assets increased by $15.2 million and all cash and investments equal $244 million or 25% of assets. Net position liabilities are $267.3 million with $209.5 million being pension-related liability. The City has enough cash to pay its current liabilities. Ms. Olson reported on governmental funds, which includes the General Fund that has an ending balance of $116.7 million which excludes the liabilities and physical assets. She reported that outstanding debt totals $1.7 million dollars with the large amount of the outstanding debt in the area of business activities. Pension liabilities are $160 million and the OPEB liability is $57.4 million. Livermore-Pleasanton Fire Department (LPFD) will be issuing their separate audited financial statements which was one of the objectives when the City entered into the new Joint Powers Agreement (JPA) with Livermore. Lastly, the auditors did not report concerns with the City's internal controls or with any aspect of the City's financial reporting. Councilmember Brown inquired about the $.8 million "unearned revenue" from slide 10. Ms. Olson explained its money due to the City that hasn't been earned yet and is related to water and sewer connection fees. Councilmember Brown inquired as to the outstanding debt for the Golf Course Capital Lease. Ms. Olson explained the $250,000 listed was for the golf carts which the City recoups through rental fees City Manager Nelson Fialho advised the City would buy or lease the equipment and once the debt is paid off the lease, the City would replace the equipment with a new lease. City Council Minutes Page 3 of 7 February 5, 2019