Title
HEARING - Receive a report on financing alternatives for Capital Asset Acquisitions, as follows:
a) Direct the Debt Advisory Committee (DAC) to develop a set of long-term financing policies for the Capital Improvement Plan (CIP) and to return to the Board periodically with progress reports until the policies are finalized for Board consideration;
b) Request the DAC to adopt an interim checklist to use for individual project evaluation and approval, so that current projects can proceed until the long-term financing policy structure can be completed;
c) Direct the Auditor-Controller to develop necessary accounting systems enhancements to support the implementation of these long-term financing policies. Support systems should include an infrastructure and fixed asset accounting system, a capital accounting system and an enhanced debt accounting system.
CAO Recommendation
APPROVE
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