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.