2000 MAY 30 SPE MIN - Laserfiche WebLink

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or objections were received. Finance Director Holliman said the City Council had to ratify each year's budget individually on or before July V of each fiscal year, even though it had approved a two-year budget, since the City was a general law city. After announcing the increase in revenue categories and listing specific appropriation increases, Director Holliman said that $140,265 remained unallocated. Staff recommended that said amount be allocated 50% to capital projects and 50% to a PERS rate stabilization reserve. Ann Kolman commented on the subject matter. MOTIONNOTE: After hearing public comment, on motion/second by CM Grimsby/Sanders, the Public Hearing was terminated. Said motion carried with Mayor Pro Tempore Bennett absent. Discussion followed on the Mystery Shop, COBRA issues, PERS rate reserve, PERS actuarial study, repayment to Electric Utility Fund, the standing reserve policy, and tangible public improvement projects, i.e., park improvements, reseeding programs, sidewalks and curbs and gutters. MOTIONNOTE: CM Sanders, seconded by CM DeLaRosa, moved to approve RESOLUTION NO. R-42-00 with ancillary documents and that the City approve a standing policy which allocates 10%, to PERS, of any general fund operating surplus, for fiscal years 1999-2000 and forward, with the remaining balance to capital projects, for tangible public improvement projects such as parks, sidewalks, curbs, gutters and reseeding programs and to direct staff to develop a list of priorities. Brief discussion followed on how the items would be prioritized and when the list would be presented to City Council. Director Holliman informed that the final figure would not be known until October or November, after the audit. CM Sanders restated the primary motion to incorporate the following change to " allocate 25% towards PERS and 75% towards the capital improvement projects." CM DeLaRosa agreed to the restated motion. Motion carried with Mayor Pro Tempore Bennett absent. Consumer Rates for Wastewater Services Chairperson Cook announced that this was the time and place fixed to consider the formation of a Joint Powers Authority between the City of Colton and its Redevelopment Agency to establish the Colton Public Utilities Authority and for consideration of change in consumer rates for wastewater services. Chairperson Cook declared the Public Hearing opened. Deputy City Clerk Delgado submitted the Affidavit of Publication and declared that no protests or objections were received. Ann Kolman commented on the subject matter. CC Spec Mtg May 30, 2000 2