HomeMy WebLinkAboutStaff Report 11/16/2000 (10) 1 Daft;Minutes ofa
City of Petaluma;.California ,
Petaluma Community Development Commission Meeting
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5 Special.Meeting
6 Monday; June 26, 2000
7 ROLL CALL: .
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9 PRESENT: Healy, Cader-Thompson, Keller, Vice Mayor Torliatt, Mayor Thompson •
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11 ABSENT: Maguire, Hamilton, Mayor Thompson.
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• 13 PUBLIC COMMENT
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15 There was no one wishing to speak. 1
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17 COMMISSION COMMENT
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19 There'was no one wishing to speak •
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21 MINUTES The minutes of'February 7, 2000 were approved as submitted.
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1. Adopt Resolution approving Fiscal Year 2000/2001 Petaluma Community
Development Commission`•Budget, (Marangella)
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26 Bryant Moynihan, Dawn Place he attended the budget hearings and saw the revisions
27 also, I saw the latest budget summary that the interim finance director was able to put
28 out. As you know this budget proposes about 7 million dollars in actual revenues and
29 about 10 million in expenditures, so it's,roughly a 3 million.dollar deficit, which we have,
30 bond funds that can cover that from what I understand. Unfortunately there is an
31 inconsistency between the PCDC budget and the City budget and its an inconsistency
32 that came out when the interim finance •director presented this last budget summary:
33 You see it in the transfers in and transfers out not being balanced. In particular the 6.3
34 million dollars, which is being shown in your PCDC budget as a reserve for the flood
35 control project, and not being transferred out, is being shown as a transfer in on. page
36 548 of the city budget. So it's either an expenditure or its not an expenditure. Its either
37 transferred out or its not transferred out. If you look at the revised packet before you, in
38 the detail, detail page 7, it indicates under public improvements you can see the flood
39 control improvement project has 'been an expenditure the last'few years out of PCDC.
40 For some inexplicable reason its not being ishown as an expenditure-out this year So
41 the 6.3 million"dollars should be listed as an expenditure this year, it should be added in
42 the total deficit that is being planned and then transferred out to be consistent with the
43 city budget. Your auditor last year, in reviewing a comprehensive annual financial
44 reports didn't note that there was an 'inconsistency a number of number of reportable
45 conditions including what was item'992 in which it was noted that items concerning the
commission were discussed at the city council meeting •and not brought before the
Draft Minutes Page 1
Petaluma Community Development Commission
June 2e 2000
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1 conditions;including what was item•992 in which it was noted that items concerning the
2 commission were discussed' at the city council meeting and not brought before the
3 commission. If the city's budgeting of 63 million dollar transfer in the commission must •
4 approve :a 63 million dollar expenditure and transfer out in their budget to provide
5 internal consistency. I am asking that'this mistake be corrected.
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7 Mike'Healy; asked staff for a brief comment on Mr.'Moynihan's point on'flood control
8 expendituesishown.
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10 Paula. Cornyn, Interim Finance Director, in the City budget we do have 6.3 million
11 dollars as a'transfer in'if we need it for the flood control project. In the PCDC budget it
12 is listed as a reserve to be used for the flood control project We would be happy to
13 change the;PCDC budget to list itas a transfer in and the money'will only be transferred
14 in if we have to use the 6.3 million:dollars for the flood control project.
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16 MOTION Motion made by Commission Member Keller, seconded by Commission
17 Member Cader-Thompson to Adopt Resolution 2000-11 Adopting Fiscal
18 Year 2000/2001 PCDC Budget.
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20 MOTION PASSED:'4/0/3 (Hamilton, Maguire,Mayor Thompson absent)
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24 ADJOURN The meeting adjourned at 7:35 p.m.
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33 Chairman
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36 ATTEST:
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41 Paulette Lyon, Deputy'Recording Secretary
• Draft Minutes Page 2
Petaluma Community.Development Commission
June 26,2000