Will have transfer tax above what we projected in the report on what we see in the current month to date. Under our reserve provisions, 75 of that goes, is deposited to reserves. There are other offsetting revenues that we would also want to be mindful of. Im trying to think of theres a few that kind of, i have my eye on. One is sales tax, one is interest earnings, kind of like a sleeper revenue, but we assumed pretty substantial growth in that, so i dont know where we are going to end the year with that. So, possible news to the good thats easy to know about, and mindful of things that go the other direction. Thank you. The shortest possible answer as always, we do a review of revenue assumptions, the change in may after the revenues that we use to balance, or proposed the balance the mayors budget and a report the next couple of weeks. Thats those additional revenues are in consideration for this budgeting of this fiscal year, is that correct . We are in the process of reviewing what
Year, but what we had as of june 1st. We also reported briefly on the discretionnary general fund. So, the citywide General Fund Budget is increasing by 10. 5 , from 5. 5 billion in the current year to 6. 1 billion in the proposed fiscal year 201920 budget, and after set asides and base lines, 3. 6 billion in discretionary general Fund Revenues in 1920. We also briefly reported on budgetary reserves as you have also heard from the controllers office. These reserves include the rainy day reserve, the general reserve and the budget stablization reserve. According to the majors budget book, 459 million at the end of 1718, 9. 2 of general Fund Revenues, and projected to reach target levels of 10 of revenues during the current year. We also reported briefly on the impact of the november 2018 ballot propositions. Programs in the department of homelessness and Supportive Housing to be funded by proposition c, impose a half percent gross receipts tax on businesses with revenues above 50 millio
We do have a quorum. Item number two, general Public Comment. This item is to all members of the public to address the Treasure Island Development Authority board on matters that are within the subject matter jurisdiction of the Authority Board and that do not appear on todays agenda. In addition to general Public Comments, Public Comment will be held during each item on the agenda. Members of the public may address the board for up to three minutes. You will hear a single chime when there are 30 seconds remaining. Prior to making your comments, please state your name and the o you are representing, if any, for the record. Is there anybody in the audience that would like add to dress the board on items that are not on the agenda . Ok. Seeing none. Item number three, report by Treasure Island director. Thank you, chair and members of the board. Id like to begin my report today by asking Sherry Williams come up and make an announcement. Good afternoon, commissioners. For the record, i am
[roll call] we do have a quorum. Item number two, general Public Comment. This item is to all members of the public to address the Treasure Island Development Authority board on matters that are within the subject matter jurisdiction of the Authority Board and that do not appear on todays agenda. In addition to general Public Comments, Public Comment will be held during each item on the agenda. Members of the public may address the board for up to three minutes. You will hear a single chime when there are 30 seconds remaining. Prior to making your comments, please state your name and the o you are representing, if any, for the record. Is there anybody in the audience that would like add to dress the board on items that are not on the agenda . Ok. Seeing none. Item number three, report by Treasure Island director. Thank you, chair and members of the board. Id like to begin my report today by asking Sherry Williams come up and make an announcement. Good afternoon, commissioners. For the
The etch Treasure Island museum. Good afternoon, madame chairman, members. Were requesting approval of the term sheet for a 66year Lease Agreement with the Treasure Island Museum Association for the operation of the Treasure Island museum where san franciscans can learn about the history of treasure and yerba buena islands. Since 2007, we lease a portion for office space, museum display, storage and cure rating as well as conducting several educational programmes to the general public. The premises consists of approximately 160 square feet of display space located on the ground floor and approximately 1545 square feet of Storage Space located in the basement of the administration building. Tima needs to invest in its facilities and security in knowing it will be able to remain on the premises for an extended period of time in order to attract donors for its operations and improvements needed for its goals. Tima and project staff have negotiated a term sheet with a 66year lease, the pro