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File #: 2015-1221   
Type: Motion / Motion Response Status: Consent Calendar
File created: 7/24/2015 In control: Board of Directors - Regular Board Meeting
On agenda: 9/24/2015 Final action: 9/24/2015
Title: MOTION by DuBois, Knabe, Butts and Najarian that the funds derived from advertising receipts be deposited into the Risk Allocation Matrix Internal Savings Account (RISA) along with the Parking Revenues pending further recommendations from the CEO later this year.
Sponsors: Board of Directors - Regular Board Meeting
Indexes: Advertising, Ara Najarian, Diane DuBois, James Butts, Motion / Motion Response
Related files: 2015-1038, 2015-1264

Meeting_Body

FINANCE, BUDGET AND AUDIT COMMITTEE

SEPTEMBER 16, 2015

 

Preamble

Motion by:

 

Director DuBois, Knabe, Butts and Najarian

 

September 16, 2015

 

Relating to File ID 2015-1038: Risk Allocation Matrix Internal Savings Account

 

The Chief Executive Officer is recommending depositing all additional net revenues generated from Parking revenues into the Risk Allocation Matrix Internal Savings Account (RISA), pending Board approval of the full concept later this year.

 

We believe this is an excellent idea and this recommendation would be further enhanced with the addition of revenues derived from advertising receipts.

 

These funds are of the same non-restricted General Fund money. Therefore, given the CEO’s “RISA” strategy, these revenues should also be added to those funds being temporarily placed into the Risk Allocation Matrix Internal Savings Account for further review with the CEO later this year.

 

Title

MOTION by DuBois, Knabe, Butts and Najarian that the funds derived from advertising receipts be deposited into the Risk Allocation Matrix Internal Savings Account (RISA) along with the Parking Revenues pending further recommendations from the CEO later this year.