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Mr. Fialho stated that throughout the budget and in his budget message, <br />increases in benefits have been dramatic and will continue to be dramatic over the next <br />several years. In year one, it is estimated that benefit expenses would increase by $4.2 <br />million and in the second year by $2 million with the largest portion of that expense <br />related to pension cost. <br /> <br /> Mr. Fialho further stated that he sincerely appreciated the Council's leadership <br />over the last few months, as it has been difficult working without a fifth Council member. <br />He also wanted to recognize the City Commissions and Committee's who have helped <br />develop the City's Capital Improvement Plan. Finally, he recognized City staff for its <br />dedication and effort and commitment to provide the highest quality of service to the <br />community of Pleasanton. <br /> <br /> Mayor Hosterman on behalf of the Council, thanked staff for its time, effort and <br />commitment to the City of Pleasanton. <br /> <br /> Sue Rossi, Director of Finance, presented the Operating Budget, <br /> <br /> Mayor Hosterman asked for questions from Councilmembers. <br /> <br /> Mr. Brozosky questioned the golf course reserve of $1.6 million and the <br />availability to make the bond payment, <br /> <br /> Ms. Rossi responded that the annual debt service is under $1.6 million dollars. <br />In the event there would be no revenue to make the debt service payment, the golf <br />course reserve would make the payment on the bond. <br /> <br /> Mr. Brozosky asked that if any income received from the golf course would be <br />positive to the reserve. <br /> <br /> Ms. Rossi said yes. <br /> <br /> Mr, Brozosky questioned the ability to borrow against the Vehicle License Fee <br /> (VLF) from the State. <br /> <br /> Ms. Rossi stated that there is another bond issue, that is becoming available in <br /> July and staff is inquiring about it as part of the Governors proposed May budget. The <br /> Governor included funding part of the VLF repayment next year, which has changed the <br /> dynamics. Staff would continue to look into it. <br /> <br /> Mr. Brozosky inquired about the change of Oracle pumhasing PeopleSoft and <br /> whether any sales tax revenue was received. He questioned the possible impact it <br /> might have on sales tax revenue due to that purchase. <br /> <br /> Ms. Rossi replied that it was to early to answer that question due to the lag time <br /> of information. <br /> <br /> City Council Workshop <br /> 4 06/08105 <br /> <br /> <br />