Council will shuffle reserve funds to better reflect purpose
Finance will be the theme of Tuesday’s Claremont City Council meeting, May 22, set for 6:30 p.m. in the Claremont City Council Chamber, 225 W. Second St.
The potential purchase of Golden State Water Company real property interests will be discussed in Tuesday evening’s closed session, which begins after a brief public comment session at 5:15 p.m. After direction given by the city council earlier this year, Claremont staff has been working on gathering information regarding the possible costs of acquiring the city’s water system.
The council will also tackle the implementation and renaming of several reserve fund accounts in the administrative portion of the night’s agenda. This will include renaming the General Reserve Fund to the Operating and Environmental Emergency Reserve to better reflect its purpose. The General Reserve serves as a natural and fiscal emergency account, holding 25 percent of the General Fund Operating budget for such scenarios, should they arise.
In addition to the renaming of the General Reserve, city staff proposes the council designate a Maintenance of Operations Reserve and an Equipment and Facility Revolving Reserve, and allocate $500,000 of unassigned General Fund money into each of those accounts. By establishing dedicated reserve funds for specific purposes, the city can better manage resources and plan for the use of unassigned fund balances, according to a city report prepared by Finance Director Adam Pirrie and Senior Management Analyst Brad McKinney.
The Claremont City Council will also make a decision on a proposed amendment to the Purchase and Sales agreement for a 2.66-acre property located on the south side of Base Line Road, just south of Towne Avenue. The amendment includes increasing the price, currently listed at $1.75 million, to $1.9 million and the deposit to $230,000. The property was purchased through a series of acquisitions in 2005 to 2006 for a total cost of slightly over $1.96 million.
In addition, the council will update the public on the status of its 2012 priorities list. A few of the 37 priority items included a focus on economic development, establishing contracts with the city’s police unions and adopting an updated city sustainability plan.
The council will also review an event request for a 40th anniversary celebration of El Barrio Park, presented by the Arbol Verde Preservation Committee. The gathering will also recognize the centennial of the Arbol Verde community and the release of Mexican American Baseball in the Inland Empire. The committee is asking the city to co-sponsor the event for an estimated $370, though members claim the true value of the sponsorship is $620. The event is proposed to take place at El Barrio Park on Saturday, June 16.
The council will reconvene with the Claremont Police Management Association (CPMA) in closed session at 5:30 p.m. prior to the regular meeting. The CPMA is the only employee group with an outstanding contract agreement.
Those who wish to comment on any item are invited to public comment at 5:15 p.m. prior to the recess to closed session. The council will reconvene at 6:30 p.m. View the full agenda at www.ci.claremont.ca.us.