Subcommittee on social sushlg held a hearing on the impact of coronavirus on Social Security. Several raised concerns about a payroll tax cut which they said would reduce funding for the program. The subcommittee on Social Security will come to order. I want to welcome all of our witnesses and audience members. Thank you, everyone, for joining with us today as we all bear up under covid19 and address technologically to coming together. We will begin with Opening Statements by myself and the Ranking Member followed by testimony from our witnesses, and the opportunity for each member to ask questions. Well dispense of the practice observing givens rule and instead go in order of seniority for questioning. Alternating between minority and majority. Members will be responsible for muting and unmuting themselves throughout the proceedings. I thank you all for your patience as we navigate this new technology in order to continue serving our country in this great time of need. With that, i wo
Witnesses and audience members. Thank you everyone for joining with us today as we all bear up under covid19 and address technologically to coming together. We will begin with Opening Statements by myself and the Ranking Member. Follow the by testimony from our witnesses and the opportunity for each member to ask questions. We will dispense of our practice of observing givens rule and instead go to go in order of seniority for questions. Alternating between minority and majority. Members will be responsible for muting and unmuting themselves throughout the proceedings. I thank you all for your patience as we navigate this new technology in order to continue serving our country in this great time of need. With that, i would like to again welcome everybody to the ways and means social subcommittee virtual hearing on the impact of covid19 on Social Security and its beneficiaries. Again, let me add my thanks to the member and of course our witnesses who have joined us today at the ways an
Committee member and board president london breed to my left. Our clerk is ms. Erica major. Ms. Major do you have any announcements. Yes. Please silence all cell phones and electronic devices. All documents submitted to the clerk and items will be on the clerk and items will be on the october 18 board of supervisors agenda unless otherwise stated. Thank you. Could you please read the first item. Item 1 is a hearing to receive presentations from the citys external auditor Macias Gini Oconnell and kpmg llp. Thank you. Do we have a representative from the Controllers Office. Ms. Frank. Yes, good morning supervisors i am here to introduce the external auditors. First you will hear from m go and kpmg senior manager. Great and what is the status of the consolidated annual Financial Report . Hows that coming along . Eer. Starting the final phase right now and putting in adjustments so we dont have the Financial Statements together yet but anticipated it will be completed in november around th
Information on reporting retaliation that when fraud is loudly to continue it jeopardizes the level of service that City Government can provide in you hear or see any dishelicopter behavior boy an employee please report it to say Whistle Blower Program more information and the whistle blower protections please seek www. Led the meeting to order please turn off the Electronic Devices they interfere with equipment in the room stand for the pledge of allegiance allegiance allegiance of america and to the republic for which it stands, one nation under god, indivisible, with liberty and justice for all. Commissioner president loftus id like to call roll at this time. Commissioner president loftus commissioner Vice President turman commissioner marshall commissioner dejesus commissioner mazzuco commissioner hwang commissioner melara commissioner president loftus we have quorum also with us is deputy chief for intern chief tony chance lane good evening and welcome to the Police Commission. It
Appears to have been temporary. Indicators for the Second Quarter have so far pointed to a sizable rebound. This recovery is a key factor supporting the committees expectation that Overall Economic activity will expand at a moderate pace over the next few years. Despite lackluster Economic Growth the job market continued to improve early in the year. During the First Quarter job gains averaged nearly 200,000 per month, just a bit slower than last years pace. And the Unemployment Rate held near 5 even though notably more people were actively looking for work. However, more recently, the pace of improvement in the labor market appears to have slowed markedly. Job gains in april and may are estimated to have averaged only about 80,000 per month. And while the Unemployment Rate fell to 4. 7 in may, that decline occurred because fewer people reported that they were actively seeking work. A broader measure of unemployment that includes individuals who want and are available to work but have