Page 24 - Budget Stabilization News Today : Breaking News, Live Updates & Top Stories | Vimarsana

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 costs. Now, any increases in the program on that project in the program, we will want to compensate by with savings. So, at the same time we are undertaking a very comprehensive assessment of all remaining projects with t...

72 million of current revenue. And in the next slide well show you exactly what sources that 72 million comes from. Baseline contributions, that is, we have to pay 9. 5 million to get to our base lines. Department of operations, if you take all of the revenue, gains and losses, all the expenditures, deficits and surpluses, we end up with a net of almost 19 million short. The pending supplementals, both approved and pending before the board of supervisors amount to 6. 4 million to the general fund. And then the use of the general re serve of 32. 2 million. We are assuming you will need to use a...

Youll also remember that we have closed labor contracts in the first year of this budget and they do open up again in the second year. We also, as part of the election in november, had some changes that affect our outlook due to proposition c [speaker not understood] passing. So, overall this number will not be new to you. We have projected shortfall in the first year of 129 million and in the second year 263 million. Largely driven by expenditures outpacing Revenue Growth. And ms. Howard, just within that context with the expenditure growth, within that can you tell us a little bit more about...

To get to our base lines. Department of operations, if you take all of the revenue, gains and losses, all the expenditures, deficits and surpluses, we end up with a net of almost 19 million short. The pending supplementals, both approved and pending before the board of supervisors amount to 6. 4 million to the general fund. And then the use of the general re serve of 32. 2 million. We are assuming you will need to use all of that reserve in order to balance the budget. And then the deposits to reserves, because of our increases to revenue, amount to 11 million. So, that brings us to a projecte...

Item number 7, resolution authorizing the general manager of the Public Utilities commission to execute a 20year lease, for 52,324 annually with an annual increase of 4 percent, with Los Altos Hotel associates, llc, for approximately 47,916 square feet of land known as Bay Division Pipelines 3 and 4, parcel no. 232a, located in the city of los altos, santa clara county, california, for Hotel Parking and recreation purposes. Thank you very much. We have the puc here. Good afternoon, chair farrell, members of the committee. John updike, director of real estate. So, this item is a lease of just o...