Moving averages. This months worst performer on the dow. Plus activism in the restaurant sector. Outback steakhouses Parent Company down sharply. Lets begin with the markets extending this weeks losses, not a lot going right, and today, mike, a lot of it surrounds china and worries about not just growth but the debt burden as well. You wouldnt say its a new factor bits been on the list o worries. You have one of these situations where once you have this pretty sharp break in momentum to the upside, several weeks ago, some breakdowns in the longer term trend, some concerns about, you know, valuation that were always there that are being exacerbated and why has the yield become unanchored, treasury yields, and even global yields . All that stuff in the mix and then you have the related concern of, oh, what might what stress points might we see emerge out of that . All thats in the mix. I do think, also, yesterday, with the yields making those new kind of 15year highs, you started to see
Successful we started with those 3 initiatives by the way wes we needed to know things we have a measurable impact and set tasks to get to those ends points and measure the end points to see how well, were doing. It seems to me the one of the key to success is the allocate resources completely unequally because the initiatives have unequal benefits and so i still want to go a level deeper how well, do we do that as a department. I can take a stab at that one of the things we can do we fund a majority of those funding it is not the 1. 1 over thirty something Million Dollars so one of the things well be looking at rfping out according to need and rereflecting what the new need is as we really out new rfps well have to look at go where the targeted pongsz and how do we get money back to them and this is what the federal government did they look at the country and thats why we dont get as much money we may have to do the same as we move into this direction we control the dollars and have t
Street but that supporting the ambulance on call for that and Human Trafficking we shared that from our area of massage work in looking out those businesses making sure theyre not doing Human Trafficking and hire a Health Working to secure the issues this is a work order to their program an security those so those initiatives will come into the program and many will be contracted out. So just the last step in the budget process the budget goes to the further be it resolved for two hearings in late july generally the usual if possible there will be changes at that phase but usually not and no changes by the mayor at the beginning of august so overall the budget is likely to remain essentially in this form it is a great form weve had an incredible amount of support and i think pretty much universally the priorities weve identified going to the budget process weve come out of the budget process with something to show for it were pleased with the budget in the form it is going to the full
To be sure we are heading in the right direction thats how to get to be sure were all on the same page we wont if everybody is doing theyre on thing or what they think is the most successful we started with those 3 initiatives by the way wes we needed to know things we have a measurable impact and set tasks to get to those ends points and measure the end points to see how well, were doing. It seems to me the one of the key to success is the allocate resources completely unequally because the initiatives have unequal benefits and so i still want to go a level deeper how well, do we do that as a department. I can take a stab at that one of the things we can do we fund a majority of those funding it is not the 1. 1 over thirty something Million Dollars so one of the things well be looking at rfping out according to need and rereflecting what the new need is as we really out new rfps well have to look at go where the targeted pongsz and how do we get money back to them and this is what the
Cover what those changes were that happened in the board so ill talk through a little bit about the reductions. Mr. Wagner im not sure youre talking into the microphone. And director Barbara Garcia b will talk 0 through the add back as every year we work with the boards budget analyst to identify places they can trim and look at it things such as positions that have not been filled for an extend period of time or pots of money not stepped up to the plate on a prior fiscal year and put those reductions and we negotiate with them based on what we can accept so we did to agreement with them on the list of items that is in front of you, we dont each year any of those are going to have a intunlt Service Impact for us theyre reasonable there are are about 1. 2 million worth of one time reduction but the board may put that into the top section those are the recommendation of a position to a later start data or some are close out of oneonone one time dollars there are 1. 5 million on the ongoi