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10. REPORTS OF THE CITY MANAGER <br /> <br />Item 10a(1) <br />Overview of the Downtown Project (SR 94:364) <br /> <br /> This item was discussed earlier in the agenda. <br /> <br />Item 10a(2) <br />Review of Downtown Revitalization Plan recommendation for a Downtown Coordinator and <br />continued City financial sunport to the Downtown following the reconstruction of Main <br />Street (SR 94:374) <br /> <br />This item was discussed earlier in the agenda. <br /> <br />Item 10b <br />Modifications to pronosed ba~,-based recycling, system (SR 94:367) <br /> <br />This item was discussed earlier in the agenda. <br /> <br />Item 10c <br />1993-94 Financial Renort (SR 94:365) <br /> <br />Susan Rossi presented the staff report. <br /> <br /> Mr. Pico asked questions regarding the carry-over for retirees' medical reserve and the <br />recession reserve. <br /> <br /> Ms. Rossi indicated the $309,000 for retirees' medical is in addition to the undesignated <br />i~c}~C.' (,(~') n,qrryn~,~'r r~o,T'ves She stated that The reeee.~or, reserve b,~ v~or heep '.!sed. The <br />current balance is the level mat staff' recommends keeping. I'his represents approximately two <br />years of potential impacts from the State. for example if it takes auto in-lieu fees. The rationale <br />is that the reserve provides time to adjust the City budget to compensate for state impacts. The <br />fund represents savings since 1991 from various departments. <br /> <br /> Mr. Pico asked why each proposed budget indicates it is necessary to create a reserve <br />budget and then it is not used. <br /> <br /> Ms. Rossi stated that the budget is adjusted at mid-year and at the third quarter to take <br />into account various savings such as salary savings and increased revenues from sales tax. <br /> <br />11/01/94 <br /> - 17 - <br /> <br /> <br />