CCMIN02042020 - Laserfiche WebLink

the $250,000 per year the school district will receive when the project is completed and feels it is a great deal for the schools. Mayor Thorne expressed his support for the project and encouraged staff to get back to residents who asked for clarification on items. MOTION: It was m/s by Pentin/Narum to adopt and waive full reading of Resolution No. 20-1131 certifying the Revised Final Supplemental Environmental Impact Report; adopt and waive full reading of Resolution No. 20-1132 approving a General Plan Amendment to change the land use designations, and introduce and waive first reading of Ordinance No. 2207 approving the JDEDZ PUD Rezone. Motion passed by the following vote: Ayes: Councilmembers Brown, Narum. Pentin, Testa, Mayor Thorne Noes: None Absent: None 12. Accept the Comprehensive Annual Financial Report (CAFR) and other related audits for the year ending June 30, 2019 Finance Director Tina Olson presented the 2019 CAFR, said it is prepared annually by City staff and audited by Maze and Associates. She explained the CAFR is prepared following guidelines recommended by the Government Finance Officer Association (GFOA) and the Governmental Accounting Standards Board (GASB). She provided an overview of the CAFR outline. She noted it includes a Letter of Transmittal which provides additional detail including a list of major City projects, awards, and acknowledgment. This marks the 22nd year the City has received the GFOA Certificate of Achievement. She also noted that the auditors did not report a concern with the City's internal controls or with any aspect of the City's financial reporting. Finance Director Olson provided an overview of the Financial Section which includes the Independent Auditor's Report provided by Maze and Associates, Management Discussions and Analysis, and Basic Financial Statements of the City. She reported the auditors did not report a concern with the City's internal controls or with any aspect of the City's financial reporting. Reported total assets exceeded liabilities at the close of Fiscal Year 2018/19 by $754.8 million, also referred to as the Net Position, which is an increase of $11.9 million from the prior year. The City has $988 million in assets of which $685.9 million is Capital Assets which is a decrease of $14.1 million from the prior year due to asset retirements and depreciation. She reported Current and Other Assets as $302.1 million which is an increase of $23.5 million, and the available monies total $263.6 million. Ms Olson noted the City's total liability is $257.1 million with $210.8 million in Pension Related Liabilities and includes other post-employment benefits (OPEB) Liability, and Livermore- Pleasanton Fire Department (LPFD) Liability. She presented on the Deferred Inflows and Outflows of Resources and noted assets increased by $31.4 million which is the City's contribution and liabilities increased by $7.5 million. She reported the General Fund balance is $29.6 million which is an increase of $2 million from the prior year. Finance Director Olson reported on Internal Service Funds with the largest being the Retiree Health Insurance Reserve and Repair and Replacement. She provided an overview of Outstanding Debt and noted the City retired $1.4 million in debt from 2018. She reported the debt is being repaid to the California Energy Commission for LED lighting, HUD Section 108 Loan for the Access Health Clinic. Golf Course Capital Lease. California Clean Water SRF Loan, and Water Revenue Bonds, Series 2017. City Council Minutes Page 8 of 10 February 4. 2020