Page 23 - Budget Stabilization News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Budget deficit from the department of Public Health, how does this proposed increase impact that because im assuming this is something based on whats been communicated to me around the department of Public Health, this is a consistent issue and so when we look at potential growth, are we looking at the fact that were also absorbing the deficit or we will maybe need to absorb the deficit of the department . Thats an excellent question, so included in that first number on the page, the 141. 9 Million Dollars is our best projection of what that supplemental will cost the city next year, so that n...

Gives you an early sense of the kinds of solutions that will be necessary to balance the next two year budge so to the degree that you would like to give me feedback about that, that would be helpful as well. Thank you, ms. Howard, supervisor breed . Thank you, what are we talking about in terms of the amount of money were looking at if we were to absorb the increase in Hotel Tax Revenue into the general fund . I dont know if i have that number off the top of my head. I do have it at my table. Can i get it for you in a moment . Yes, thank you. Okay, colleagues . Any other questions at this tim...

Increases in either of those categories but that in the subsequent years, modest increases should be provided. And so thats that one. And then this next one is really focused on onetime revenues in savings, so youll see in the plan that we recommend reducing the reliance on these onetime sources just because its not rel lie financially prudent to use onetime money to fund your ongoing cost, its like getting a Birthday Gift from your grandmother and using it to pay your rent every month, its not going to be there next month, so its the more financially responsible thing to do is to use those on...

The Budget Stabilization reserve is our side by side reserve that was created dlu the financial policies through the board of supervisors and it was crafted so that we can continue to put away money in a reserve and be able to withdraw it a little more flexibly than a rainy day reserve allows, we cannot make changes to the rin nee day reserve without going to voters whereas this is locally sponsored and with twothirds vote, we can make changes to the rules of this particular reserve. Again, it augments the rainy day reserve, and itss a designated, mitigates some negative effects of downturns o...

Today to transfer to the project will only cover the construction, the increase in Construction Costs. There will be a need for increases also what we call the soft costs, delivery costs for the additional 25 months. And there are also significant risks remaining on that project. So, we are at the same time negotiating a final change order for the discovery of those features with the contractors. All that to say that we will need to go back to our commission and to this committee in about april or may. We will come back and seek from you an approval for additional revisions to the program cost...