Title
Minutes of the Special Joint City Council and SACIC Meeting Held on March 6, 2018. [SACIC] (City Clerk)
Body
UNAPPROVED
MINUTES OF THE SPECIAL JOINT MEETING OF THE
CITY COUNCIL AND SUCCESSOR AGENCY
TO THE COMMUNITY IMPROVEMENT COMMISSION (SACIC)
TUESDAY- -MARCH 6, 2018- -6:59 P.M.
Mayor/Chair Spencer convened the meeting at 7:01 p.m. and led the Pledge of Allegiance.
ROLL CALL - Present: Councilmembers/Commissioners Ezzy Ashcraft, Matarrese, Oddie, Vella and Mayor/Chair Spencer - 5.
Absent: None.
ORAL COMMUNICATIONS, NON-AGENDA
None.
CONSENT CALENDAR
Mayor Spencer announced the Financial Statements [paragraph no. 18- CC/18- SACIC] was removed from the Consent Calendar for discussion.
Vice Mayor/Commissioner Vella moved approval of the remainder of the Consent Calendar.
Councilmember/Commissioner Matarrese seconded the motion, which carried by unanimous voice vote - 5. [Items so enacted or adopted are indicated by an asterisk preceding the paragraph number.]
(*18- CC/18- SACIC) Minutes of the Joint City Council and SACIC Meeting Held on February 6, 2018. Approved.
(18- CC/18- SACIC) Recommendation to Accept the Fiscal Year 2016-17 Audited Financial Statements and Compliance Reports.
The City Auditor made comments regarding liabilities that will be in upcoming Financial Statements; urged caution on future budgets.
Mayor/Chair Spencer requested clarification on the amount of the unfunded pension liabilities.
The City Auditor responded the net pension liabilities is $227,324,871; Other Post-Employment Benefits (OPEB) is $39,668,326.
Mayor/Chair Spencer inquired whether there is an estimate of the deferred maintenance.
The City Auditor responded the deferred maintenance does not appear in the financials because it is not required.
Mayor/Chair Spencer inquired whether there is a payment plan for the unfunded pension liabilities.
The City Manager responded Council has set aside money towards paying the amount down; stated last fiscal year, money was set aside and 50% of any surplus is directed to go towards the unfunded liability; staff will bring the item back to Council during the mid-year budget.
Mayor/Chair Spencer inquired about the highest amount the City will have to pay, to which the City Manager responded $34 million.
Mayor/Chair Spencer inquired whether that is for one year payment and which year the payment is due.
The City Manager responded in 2025.
Mayor Spencer inquired when staff will return to Council.
The City Manager responded the mid-year budget cycle will be on the next Council meeting.
Councilmember/Commissioner Matarrese requested clarification on OPEB; stated at one point, public safety employees were paying into the fund.
The City Manager responded a contribution brought the fund from 0% funded to the 12% funded range.
Councilmember/Commissioner Matarrese inquired whether deferred maintenance can be listed in the Auditor’s report although it is not required to be listed.
The City Manager responded the matter can be discussed at the mid-year budget cycle.
Councilmember/Commissioner Matarrese stated that he would like to be ahead of the curve on said issue.
The City Manager stated staff has collected data and has deferred maintenance figures.
Mayor/Chair Spencer inquired whether the deferred maintenance can return at the next meeting.
The City Manager responded the issue cannot be brought back at the next meeting but would be included in the mid-cycle budget.
Councilmember/Commissioner Matarrese moved approval of accepting the reports.
Councilmember/Commissioner Ezzy Ashcraft seconded the motion, which carried a unanimous voice vote - 5.
ADJOURNMENT
There being no further business, Mayor/Chair Spencer adjourned the meeting at 7:18 p.m.
Respectfully submitted,
Lara Weisiger, City Clerk and Secretary, SACIC
The agenda for this meeting was posted in accordance with the Sunshine Ordinance.