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will vote on a certain issue before public input is allowed. He asked whether economic advice for the City is solicited. Ms. Rossi informed him that staff receives information from a variety of sources. Staff is very active in professional associations where the associations have access to economists. The City also employs services such as a sales tax auditor who has access to a lot of information, which benefits the City. Before she makes projections, she spends time talking with businesses in the community. Ms. McKeehan noted that the City does not hire an economist. Mayor Pico pointed out that reports are received from the County of Alameda with regard to property tax projections for the year. Mr. O'Callaghan would like to see projections made out to 2024 rather than 2004, so that the community could see what would happen to the City in that particular period of time. For informational purposes, Ms. McKeehan pointed out that when the General Plan had been prepared, a fiscal analysis was conducted for a 20-year period. In terms of its overall usefulness, just the nature of the changing environment is not helpful. Bruce Torquema_d~, 3022 Adbumi Court, concurred with the previous speaker's comments. He noted that there is a lot of financial uncertainty, which causes him great concern. He has seen home values drop considerably, especially with the higher priced homes. He was hopeful that the City would remain in a position to be able to provide additional services for the citizens of Pleasanton. To follow up on a comment made by Mr. Torquemada, Ms. Rossi mentioned that in t~m~s of updating projections for pwperty taxes, stafftracks residential resales on a weekly basis. Jerry Wagner, 6344 Alisal Street, believed if the City had extra money it should be spent on putting in the bypass road. There were no further speakers. It was moved by Mr. Cmpell, seconded by Ms. Hosterman, to adopt Resolution 03-114 to: (1) amend the 2002-2003 Operating Budget as shown in Appendix A to the staff report; (2) approve the Operating Budget carryovers detailed in Appendix C to the staff report; (3) fully appropriate all General Fund Reserves and make the designations as shown on Exlu~it E; and (4) fully appropriate all other balances as shown in Appendix A of the staff report, and designate them as contingency reserves for ex, ting and future, known and unknown, obligations. Pleasant City Council 13 10/21/03 Minutes