City Council Celebrates Two Proclamations, Accepts Year-End Financial Report | News from the city of Coronado
The Coronado City Council met on Tuesday December 7 where the meeting began with two proclamations celebrating the citizens of Coronado; Ed Walton Day and Garry J. Bonelli Day.
Mayor Bailey, speaking on behalf of Ed Walton Day, said: “While Ed Walton was hired in 1988 as an associate engineer, rose through the ranks to senior engineer and took on his retirement as a municipal engineer after 33 years of service. And while his extensive technical and institutional knowledge and specific experience of the peculiarities of Coronado’s infrastructure and project history have been an extremely valuable asset to the city. And while Ed participated in a regional body such as SANDAG, the City Transportation Advisory Committee and the Metro Wastewater Technical Advisory Committee, which benefited the city in terms of access and contribution to regional decision-making, and served in 2009 as president of the American Public Works Association’s San Diego and Imperial County Chapter, and currently serves as the chapter’s liaison with the national organization.
The mayor went on to list Walton’s many accomplishments, including the replacement of Transbay’s main force, improvements to Adella Plaza and Rotary Plaza, the Coronado Coastal Campus Force Main naval base, and more. “Ed has strived to provide the best possible service to the citizens of Coronado and has received praise from residents for his professionalism and responsiveness,” Bailey continued. “His leadership, his commitment to his team, its residents and the city will leave a lasting legacy that will last for decades in his projects and his staff as he mentored. Thus, on behalf of the Municipal Council of the Town of Coronado, I hereby proclaim December 10, 2021, Ed Walton Day. Walton expressed his gratitude for the recognition, for being a part of Coronado and for the support of his family, team and the city over the years.
Mayor Bailey then spoke to outgoing port commissioner Garry Bonelli. “One of the posts that the city appoints, which represents our city at regional level, is the post of port commissioner,” he began. “Gary has been in this position for several years and frequently reports to the board on all the work the port does to improve San Diego Bay and our entire region. Bonelli asked, “You’re not going to read all of this, are you?” So, with laughter from all present and humor from Bonelli, Mayor Bailey said: “Now, on behalf of the Municipal Council of the Town of Coronado, I hereby proclaim December 7, 2021, Garry Bonelli Day. in the town of Coronado. Mayor Bailey thanked him for all his accomplishments and Bonelli thanked the town and the people of Coronado for allowing him to serve the community for the past eight years.
The proclamations were followed by the official swearing-in of the new Coronado Port Commissioner, Frank Urtasun. “I am delighted to serve you,” added Urtasun after taking the oath. “Big shoes to fill in, I don’t have to tell you everything. Garry Bonelli has done an outstanding job for this city. I have had the pleasure of serving in previous roles where I have served with others. Admirals / Naval Commissioners who represented the Town of Coronado who also did an outstanding job.… I am excited to get started and look forward to working with the community.
After a brief period of oral communications regarding the open space at the ferry landing stage, the meeting moved to agenda items and the board heard a presentation regarding the Full Annual Financial Report (ACFR) for the year ending. ending June 30, 2021. According to the ACFR, the city’s income and spending has seen some changes mainly due to the continued influence of the pandemic, but overall these government funds have seen a slight positive trend with an increase in the total year-over-year fund balance of $ 843,088 (the 2021 year-end balance is $ 176,398,884). City staff presented this as an indication of the economic recovery, although they do not expect aspects such as transitional occupancy tax and sales tax to return to pre-pandemic levels in a near future. near future. They also noted that property tax remains an important source of city revenue under current real estate market conditions.
Turning to utilities, city staff noted that proprietary wastewater funds also saw small positive trends in net position, with a year-end balance of around $ 45.6 million. The storm drains fund suffered a slight decrease of $ 70,683 which is subsidized by general fund transfers. The latest utility reported the town’s golf course, which saw a net increase of about $ 1.4 million from last year, largely aided by increased demand for outdoor activities during the pandemic.
A general discussion ensued during which pension and other post-employment benefits (OPEBs) were raised and it was noted that the City is currently maintaining contributions to these at a slightly higher rate. by 7%. A representative of the City’s independent accounting firm, Davis Farr, followed with a presentation regarding the results of their annual audit. No material instances of non-compliance with city and state laws were identified, and no material deficiencies in major material weaknesses in internal control were found. No compliance issues were noted in the accommodation compliance reports or other reports prepared. A single audit was carried out following the financing of the CARES law and no exceptions or findings were noted as to the City’s compliance with these expenses.
After thanking everyone involved for their reports and their work, the board moved a motion to accept and table these reports. The motion was seconded and carried unanimously.
Discussion then turned to logistical considerations for the Lifeline commercial loans previously offered to local businesses to help them financially weather the pandemic until federal support can become available. Two million dollars was initially allocated for these interest-free loans and 1.7 million dollars of these funds were distributed in 2020.
Deputy City Manager Dominique Albrecht presented the current loan repayment situation and the city’s options for implementing a program of economic hardship for borrowers, as the program had a period of forbearance until in 2021. The business community has called for allowing loans to be converted into grants based on factors related to the continuing impacts of the pandemic. By the time of the council meeting, one company had repaid its entire loan while four other companies from the 94 companies that accepted the financial support began to reimburse the City on a monthly basis and others also contacted the City to start the repayment. .
The City’s proposed hardship program suggests allowing borrowers to request short-term temporary forbearance (through a submitted application that would be approved by the City), a loan cancellation option in the event of bankruptcy, or death of the primary borrower (which the companies should complete a formal application and provide proof for for city staff to then work with the city attorney) and that the recovered funds be returned to the general city fund. city. The overall objective of the proposed program would be to allow some flexibility given the lingering uncertainties of the pandemic.
As the council reviewed the current state of the program, council member Tanaka, who was not present during the council’s implementation of the Lifeline Business Loans program, asked the mayor and other council members if they could convey their original intent and public policy goals with how the program was implemented, including thoughts on loan repayment and possible loan forgiveness. Mayor Bailey said their original intention for the program was to serve as a bridge loan; an offer to local businesses that met certain requirements (such as contributing sales tax revenue to the city) to help them financially during the pandemic to help them stay afloat while waiting for stimulus programs to arrive federal and additional funding.
Board members Heinze and Donovan expressed a general preference not to implement a loan cancellation element as part of a hardship program. . That said, the board agreed it was open to flexibility of forbearance based on need, as each business faces different challenges and circumstances in the ongoing pandemic and understands that some may have need more time than others. In the event that a business was unable to repay the loan, there was a consensus that the City could then defer to existing federal or state law regarding such proceedings in the event of bankruptcy, death of the loan holder, etc.
A motion was presented to accept the proposal of the city staff economic hardship program, except that in the mentioned cases of bankruptcy or death there would be a postponement of the current law according to the councils. of the city attorney. The motion was seconded and approved with all council members voting yes.
The next meeting of the Coronado City Council will be on Tuesday, December 21 at 4 p.m. For more information visit https://www.coronado.ca.us/government/city_council.