Of bonds and several few minutes ago documents including the second vegetation of trust and gave our executive director authority to enter into the contracts. On february 11th this year i was here to look at the Financial Statements for our 5 year financial projection that are included in the preliminary official statement. So today were asking you to approve the preliminary statement and authorize the document to potential investors and to approve the certificate. The preliminary official statement is a document to really let investors know what could go wrong with the port of San Francisco and explain our Capital Strategies and risk factors its required by the security and Exchange Commission it must be accurate and complete so well make it up to the date of publication. The continuing certificate is an agreement we make to provide key Financial Information annually. For the life of the bonds and youll see in attachment two the form of the disclosure it includes the po s and which ta
Fiscal officer while i had to be away and they both jumped into my shoes and filled them well, i must say and john spent a lot of evenings and weekends so thank you, john. Also here is the rest of the finance team who all collaborated on this and the bond team shawn from hawkins our disclosure council and bob and christen from t s m our Financial Advisors thank you and week. I mentioned the team just to make the Port Commission feel secure we have a complete team reviewing our Financial Statement from our disclosure and bond council and co bond council ship and harden the sdpoofz and our underwriters and steve serving as co underwriter. So the commissioners are familiar with the plan for 2014 port revenue issuance in may of last year you saw and approved our financing plan that gave us access inform the plan and december of last year on the 12th you approved the issuance of bonds and several few minutes ago documents including the second vegetation of trust and gave our executive direc
Second. All in favor, say i. I. Any opposed. Public comment . Seeing none. All in favor, say i. I. Opposed . Content item item 11 a requests the approval of the preliminary statement relating inform the bond and 30 years its relationship to the Revenue Bonds. Good afternoon. Commissioner president katz elaine support staff were near the final leg of revenue bond issuance for 2014. Before i start, i want to say a special thanks to the executive director to monique and john our fiscal officer while i had to be away and they both jumped into my shoes and filled them well, i must say and john spent a lot of evenings and weekends so thank you, john. Also here is the rest of the finance team who all collaborated on this and the bond team shawn from hawkins our disclosure council and bob and christen from t s m our Financial Advisors thank you and week. I mentioned the team just to make the Port Commission feel secure we have a complete team reviewing our Financial Statement from our disclosu
The Police Department we need more people coming in our Police Department there were literally years we didnt hire anyone. So the Public Safety hiring model is on deck. Weve been provided with an overview new hires their anticipated to exposed our retires and were looking at thirty retirements and as i stated well have 82 new hires into the department this should have a reduction in our overtime and ill explain whats happening with the new construction you see in the mission bay. As a result of the net increasing with the staffing were lower than the Previous Fiscal Year the amount of overtime is directly related to the Police Department to the number of personnel we have on staff. In addition, we have worked closely with the department of hearsay and the local 798 to have a hard cap of 11 hundred hours this was fully implemented this past fiscal year we see a performance if our fire prosecution due to do on and on construction supervisor wiener. Its staffing positions its similar wher
Hard copies for your as well this slide basically give us an omaha budgeted in total our budgeted is 356 million for the 20142015. Of which 329 million is operating budget covers the fire desperation and the specialized unit and the Fire Investigation unit and the training distinction and our support bureau. The nonyou fund is the airport which are fully funded by airport and the port of San Francisco. The next slide give us a brief overview regarding the sources of our budget. Heres a look at the source that make ups our budget the dependent on the general fund to fund our operations about 70 percent and the remaining are from state revenues and Public Safety sales tax and those are the ways in which the department generated the medical Emergency Services. And but you can see the general fund is 2 3rds of our funding. Particularly weve seen Grant Funding for our department. Next slide as we look at how the department has a Program Funding break down the large majority is designated fo