101-Fiscal Strategic Plan Committee Recommendations.pdf
OFFICE OF ADMINISTRATIVE SERVICES
CITY HALL
10300 TORRE AVENUE • CUPERTINO, CA 95014-3255
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STAFF REPORT
Agenda Item _____________ Date: September 21, 2010
Subject
Implement short and long term fiscal strategies recommended by the Fiscal Strategic Plan
Committee as a result of the Hewlett Packard relocation to Palo Alto.
Recommendation
Consider implementation of the following strategies:
1. Adopt the Fiscal Year 2010/11 Fee Schedule;
2. Pursue ERAF property tax corrections with the State;
3. Consider deferral/elimination of various CIP projects for Fiscal Year 2010/11:
a. Reduce various Blackberry Farm Infrastructure Improvements ($75,000);
b. Scale down the Radio Station Antenna Relocation ($10,000);
c. Defer the Emergency Van Upgrade ($75,000);
d. Defer Wilson Park Irrigation System Renovation ($150,000);
e. Reduce various Park Path and Parking Lot Resurfacing Projects leaving $75,000 for
safety issues only ($175,000);
f. Defer various Trail Resurfacing at School Fields ($125,000);
g. Defer the Temporary Dog Park on Mary Avenue ($210,000).
Description
As a result of the announcement of Hewlett Packard’s relocation to Palo Alto, the Fiscal Strategic
Plan Committee met to discuss the timing and financial impact to the City due to this relocation,
and to re-visit all revenue and expenditure strategies that would place the City in as favorable
financial position as possible. The Committee is proposing the above three strategies for City
Council implementation.
Sustainability Impact None
Fiscal Impact
The above measures would bring in approximately $45,000 in fees, a potential of over $1 million
per year in ERAF property tax shift revenues, and up to $820,000 in CIP deferrals and/or cut backs.
Prepared by: Carol Atwood
Approved for Submission by: David W. Knapp, City Manager