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The roll call vote was as follows: AYES: Councilmembers - Ayala, Brozosky, Campbell, Hosterman, and Mayor Pico NOES: None ABSENT: None ABSTAIN: None James Paxton, 4473 Willow Road, Suite 105, representing Hacienda Business Park, thanked staff for its help. 6_ge Mid-Year and Quarter Three 2003-2004 Financial Report (SR 04:129) Sue Rossi, Finance Director, presented the staff report. Mr. Brozosky pointed out that the Public Art Acquisition Fund as listed in Appendix A has a projected net transfer decrease of $75,000. He asked if this money was being spent on a certain project? Ms. Rossi said staff has reflected the $75,000 as a transfer each year. Staff is a year or so behind in the projects, and rather than transfer the money to the Capital Improvement Program, the funds will remain until a specific project is identified. Mr. Brozosky asked if any money was being transferred out of the Public Art Maintenance Fund? Ms. Rossi said the funds would not be transferred out for any other purpose, as the Public Art Maintenance Fund is specifically designated for public art. Mr. Brozosky asked for clarification as to the purpose for the Tri-Valley Transportation Development Fee Reserve as reflected in Appendix B. Ms. Rossi said that local agencies that participate in charging the transportation development fee can withhold 20 percent to use for local projects. Staff has updated the City's projected revenues and updated the expenditures. There is no specific project for this fund. Mr. Brozosky asked if the Tri-Valley Transportation Development Fee Reserve had been increased pursuant to the latest Tri-Valley Transportation Committee approved increase? Ms. Rossi said that if staff had known about the increase at the time of preparing the staff report it would have been reflected. Staff will be updating this reserve fund at year-end. Pleasanton City Council 15 06/01/04 Minutes