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From YouTube: Finance for March 30, 2020
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C
D
C
E
D
F
C
B
C
H
C
E
C
G
J
G
You,
mr.
chairman
councillors,
so
as
we
normally
report
to
you
on
a
quarterly
basis,
this
report
is
a
financial
summary
of
our
results.
Financial
results
for
the
city
through
the
first
half
of
FY
23,
December
31st
of
2019.
At
the
time
of
publication
of
this
report,
the
magnitude
of
the
impact
of
the
corona
virus
pandemic
on
city
revenue
sources
is
unknown.
So
that
being
said,
this
report
does
not
include,
as
it
normally
does,
a
projection
of
our
revenues
for
the
remaining
fiscal
year
or
a
projection
of
our
expenditures.
G
So,
given
the
decline
of
the
city
revenue,
the
city
is
rude
about
re-evaluating
our
planned
expenditures.
What
you
all
voted
on
last
year
in
our
April
budget
hearings
for
the
remainder
of
FY
20,
but
we
will
be
coming
back
to
you
with
an
update
in
the
next
few
months
about
the
status
of
those
expenditures
so
moving
on
to
our
revenue
and
our
expenses
through
the
end
of
December.
G
The
main
takeaway
from
this
report
is
that
the
city's
economy
and
our
financial
performance
for
the
city
through
December
31st,
was
very
strong,
the
largest
single
source
of
revenue
to
the
city.
As
you
all
understand
is
our
gross
receipts
tax,
which
has
increased
over
the
same
period
last
year
by
a
fifteen
percent,
and
this
was
also
over
performing
our
budgeted
expectations.
So
that
is
the
good
news.
Just
as
a
reminder.
Our
GRT
is
67%
of
our
general
fund
revenues.
G
G
As
far
as
the
non-personnel
costs,
I
was
able
to
pull
a
Fran
Dunaway
and
her
team
were
able
to
pull
for
us
tonight
that,
as
at
the
end
of
the
third
quarter,
which
is
today,
we
have
about
2027
open
POS
for
a
total
of
51
million
unspent
at
the
moment.
So
these
are
the
types
of
stats
as
we
move
forward.
These
are
the
areas
where
we're
going
to
be
looking
to
see
expenditures
savings
for
the
four
months
of
the
fiscal
year
that
are
the
three
months
of
the
fiscal
year
that
remain
as
of
today.
G
G
Art
folio
will
be
reviewed
by
Bradley
Fitch,
our
planning
and
investment
officer,
and
our
investment
poor
for
portfolio
has
also
performed
extremely
well
in
the
first
half
of
FY
20.
You
will
share
those
results
with
you
in
a
moment
as
well,
and
he
will
also
share
that.
We
have
made
a
few
strategic
changes
in
our
portfolio
composition
in
the
last
few
weeks
to
adjust
for
the
current
financial
crisis
that
we
are
in
and
finally,
as
you
all
are
aware,
the
US
government's
monetary
and
fiscal
policy
response
coronavirus
pandemic
is
unprecedented
and
will
undoubtedly
be
welcome.
G
So
I
want
to
close
the
summary
of
this
by
saying
that
our
staff
has
been
working
diligently,
some
of
whom
join
us
today
to
continue
to
closely
monitor
our
city
revenue
and
our
expenditure
profile,
and
we
will
make
adjustments
where
necessary
in
the
months
to
come,
as
we
also
see
declines
in
our
revenue,
but
wanted
to
focus
you
on
the
fact
that
this
is
an
update
through
the
first
half
of
the
fiscal
year,
where
our
revenues
were
performing
very
strongly.
So
with
that
I
will
turn
it
over
to
Clayton.
L
Afternoon
the
numbers
I
am
presenting
are
for
the
first
six
months
only
although
I've,
given
you
more
information,
if
you've
got
this
report,
it
goes
all
the
way
through
actual
March
receipts.
Now
my
work
is
on
a
cash
basis,
so
there
is
a
difference
between
that
and
the
accounting
for
it.
So
there's
just
it's
been
explained,
I
believe,
but
my
reporting
is
what
we've
received
on
a
cash
basis.
So
far
for
fiscal
20,
we
have
exceeded
the
receipts
of
5th
fiscal
19.
L
L
I
L
G
G
L
I'd
be
glad
to
on
what
my
report
represents
on
the
cash
basis,
the
actual
wire
transfer
we
received
from
the
taxation
and
revenue
department.
So,
for
instance,
in
month
of
October,
we
would
receive
10,000,000
288,000
from
taxation
and
revenue
that
would
be
for
gross
receipts
earned
for
the
month
of
August.
There's
a
two-month
lag
from
when
it's
earned
by
the
time
it
takes
tax
and
Rev
to
report
and
remit
to
us.
L
C
C
L
L
More
questions
on
gross
receipts
tax,
we're
kind
of
giving
you
a
overview
here,
but
if
we
can
dig
into
it,
if
you
have
questions
any
other,
you
think
the
graph
is
very
helpful
in
this
case.
Where
you
can
see,
FY
2012
is
white
up
until
February.
We
were
doing
extremely
well,
and
this
is
what
Mary
was
indicating,
and
it's
is
its
visual
on
this
graph
to
see
what
we
were
tracking
compared
to
the
previous
five
years.
L
That's
on
and
how
about
in
regards
to
what
we
budgeted.
We
budgeted
we're
at
fifty
eight
point:
five
percent
of
the
budgeted
revenue
for
the
first
six
months
and
I
believe
that
was
calculated
based
on
the
accrual
method,
so
we're
given
giving
consideration
to
that
two
month.
Timing,
because
the
budget
is
prepared
on
that
same
accrued
basis,
that
that
agrees
with
the
financial
statements.
The
general
ledger
is
kept
on
the
accrual,
but
on
that
basis
we
were
fifty
eight
point.
L
Five
percent
of
the
total
year's
budget
we'd
received
in
the
first
six
months,
though,
to
to
be
clear
that
includes
the
months
of
May
and
June
of
fillet.
Nineteen
all
the
way
through
only
October,
the
my
actual
cash
receipts
and
I
have
my
Excel
spreadsheet.
So
I
can
actually
tell
you
what
those
numbers
are
for
the
four
months
on
the
accrued
basis.
It
is
61
point
nine
million
compared
to
a
budget
of
I
believe
that
was
a
hundred
and
twelve
thousand
I
mean
one
hundred
and
twelve
point
seven
million
right.
L
C
L
G
Not
actually
on
the
first
full
month
of
economic
impact
will
actually
be
April
2020
this
this
next
month,
starting
tomorrow,
so
we
will
not
receive
that
revenue
into
the
city
until
the
end
of
June,
which
is
the
end
of
our
fiscal
year.
That's
why
it's
extremely
important
for
us
not
to
wait
for
June
to
start
rolling
back
the
expenditures
that
we're
making
as
a
city,
so
at.
G
I
think
that's
why
I
Clayton
is
going
into
such
detail
about
the
cash
versus
the
accrual
method.
We
will
see
an
impact.
The
first
impact
to
our
GRT
that
we
are
expecting
to
see
will
be
in
the
month
of
May.
That
being
said,
we
do
have
this
modified
accrual
basis
of
accounting,
so
the
revenue
that
is
earned
in
April,
May
and
June.
We
will
not
receive
mental
June,
July
and
August.
So
there
is
this
delay
as
we
are
closing
out
our
fiscal
year,
which
is
extremely
important
for
us
to
understand
all.
L
Right,
I'm
thinking
that
the
actual
cash
we
receive,
the
wire
transfer
that
comes
in
next
month
in
April
is
still
going
to
be
based
on
February
activity
and
I,
don't
believe
we
we
saw
the
real
effect
of
the
turndown
that
month,
so
I'm
agreeing
with
Mary
that
it's
the
May
receipt,
where
we're
going
to
see
quite
a
decline
from
the
FY
19
number.
Okay,.
C
L
C
I
know
what
it's
directed
to
Mary:
oh
okay,
let's
finish
the
report
Mary
and
then
we'll
talk
about
what
you
know
and
I
know
right
now.
It's
all
conceptual
and
there's
a
lot
of
kind
of
guessing
but
I'd
like
to
I
think
the
committee
would
like
to
have
an
idea
of
what
worked
what
the
administration
is
thinking
about.
C
L
F
L
Up
in
front
of
me
now,
I'm
going
to
be
moving
to
page
8,
okay,
so
the
real
quick
recap
of
what
happened
is
the
middle
of
the
second
paragraph,
the
property
tax
received
during
the
first
six
months.
This
is
cash
basis,
was
4.3
million
in
FY
19
and
2.1
million
FY
20,
and
the
reason
for
that
is,
there
was
a
piece
of
legislation
that
affected
the
county
House
bill,
407
that
caused
them
to
get
their
property
tax
bills
out
late.
We
did
receive.
L
C
L
C
G
G
Yes,
so
in
FY
19
we
actually
saw
a
dip
in
property
tax
and
we
are
expecting
to
be
pretty
much
on
target
and
F
in
the
current
fiscal
year.
That
being
said,
that
was
the
original
projection,
the
unfortunately,
as
I
mentioned
in
the
report,
it
is
very
realistic
for
us
to
expect
the
payment
distribution
in
May
and
in
June
to
be
lower
due
to
the
economic
crisis
and
the
loss
of
income.
So,
unfortunately,.
F
G
So
we
are
continuing
to
work
with
the
county,
the
county,
treasurer,
the
County
Assessor's
Office
to
pull
down
information
and
data
to
help
us
understand
how
the
valuation
has
increased
over
those
two
years,
but
our
property
tax
has
actually
decreased
so
that
well
that
analysis
is
still
pending
and
we
again
we
are
working
with
the
county
to
help
get
the
data
for
us
to
understand
those
trends.
Better.
Okay,.
C
And
property
tax-
it's
it's!
The
second
half,
that's
due
in
April
that
people
have
to
pay
property
owners.
Okay
and
do
we
know-
is
there
any
like?
We've
talked
about
relief
or
rent
payments
relief
for
mortgage?
Has
there
been
any
action
in
regards
to
property,
tax
relief
or
extensions
for
property
tax
payments?
Mr.
G
C
L
Lodgers
tax
revenue
earned
for
the
first
two
quarters
of
FY
nineteen
seven
point:
1
million
as
compared
to
seven
point.
Eight
million
in
FY
2008
been
going
up
every
single
year
as
the
table
on
the
same
page
would
indicate.
There's
been
a
constant
rise
and
if
I
was
I,
didn't
open
up
the
excel
sheet
on
lodgers
tax.
Yet,
but
I
can
do
that
for
you
I.
K
L
We
received
the
7.3
we
received
6.5
and
FY
19
looking
for
their,
but
when
I
look
at
the
next
three
months
that
I've
got
posted,
we
are
also
in
excess
by
a
slight
amount.
By
about
four
hundred
thousand
more
for
the
next
three
months,
/
FY
19
as
well
so
largers
tax
was
doing
well.
It
was
continuing
to
track
higher
right
up
until
this
issue
hit
and
we
will
see
the
effect
of
that
in
April
one
month
earlier
than
we'll
see
the
effect
of
the
gross
receipts,
tax
I
think.
G
It's
really
important
to
note
at
this
point
that
the
city
has
delayed
deferred
payment
of
the
lauder
tax
under
the
exec,
the
mayor's
executive
order.
That
being
said,
we
are
still
requiring
entities
to
report,
even
though
they
will
not
be
remitting
payment.
This
was
extremely
important
for
us
to
be
able
to
understand
exactly
what
clayton
is
referring
to
how
how
starkly
Lajja
taxes
declined
in
the
month
of
March.
Given
the
current
crisis
that
were
in
now.
C
L
All
right,
thank
you.
Do
you
want
to
point
out
on
the
bottom
of
page
nine
there's
just
a
quick
graph
of
this
current
year,
but
I
did
go
all
the
way
back
to
school,
15
and
the
ratio
of
short-term
rentals
to
the
hotel
motel.
It
was
5%
and
it's
it
was
5%
in
FY,
15
FY.
Sixteen,
then
it
started
rising
in
FY,
17
18
to
about
10%,
FY,
19
and
20.
G
Just
as
a
point
of
clarification
on
that
5%
in
FY,
15
equated
to
about
five
hundred
thousand
just
under
five
hundred
thousand
and
at
the
end
of
FY
19
that
16%
equated
to
about
two
million
we've
quadrupled
the
revenue
that
we
are
bringing
in
from
this
sector.
We
know
that
there
is
much
more
to
be
done
as
the
study
last
year
indicated,
and
we
look
forward
to
continuing
to
work
legal.
F
G
Really
patient.
He
has
also
done
this
analysis
with
the
break
out
month
by
month,
which
we
can
email
to
the
committee.
I
believe
this
was
a
request
of
councilor
Carol
Carol
Romero
works
at
our
last
quarterly
update.
So
since
then,
Clayton
has
a
performance
analysis
and
we
can
show
you
the
breakdown
between
the
short-term
rental
and
the
hotel
motels,
going
back
for
the
entire
five-year
period.
A
A
A
So
we
at
least
we've
earned
income
for
January,
February
and
March.
However,
April
May
and
June
the
portfolio
earnings
will
be
negligible
when
we
get
farther
down
and
we
look
at
and
I'm
on
page
10
when
we
look
back
at
say
turn
six
on
page
11,
look
back
at
what
we
earned
in
you
know:
FY
16,
that's
what
the
bar
is
going
to
look
like
for
April,
May
and
June.
A
Otherwise,
we
added
twenty
million
dollars
to
the
portfolio
as
a
net
transfer
in
that's
more
or
less
from
the
robust
tax
collection
that
Clayton
discussed
for
the
first
half
of
the
year
on
page
10,
the
composition
of
the
portfolio,
and
this
really
gets
to
the
heart
of
the
strategy
that
Mary
had
talked
about
so
right
now,
most
of
the
portfolio.
The
green
bar
is
money.
Market
mutual
funds
and
the
purple
is
individual
government
securities.
A
The
difference
is
government
funds
only
invest
in
government
securities,
Treasuries
and
agencies,
the
prime
money
market
funds
invested
in
government
securities,
but
also
commercial
paper,
corporate
notes,
bank
loans.
Thank
your
acceptance,
notes,
mortgage-backed
securities
asset,
backed
securities
for
credit
card
and
auto
loans,
but
more
of
a
full
market.
A
The
transaction
that
we
did
is
in
other
financial
crises.
What
happens
is
the
financial
markets,
especially
the
short
term
money
market
sees,
and
you
can't
move
your
money
and
you're
stuck
where
you
are.
This
happened
in
2009
when
we
had
the
financial
crisis
it
happens
routinely
during
these
type
of
events,
given
that
I
suggested
to
both
Mary
and
the
plate
and
the
treasurer
that
we
need
to
move
out
of
the
prime
funds
and
move
that
money
into
government
funds.
A
One
of
the
things
about
the
prime
funds
is:
when
financial
markets
cease,
they
have
a
thing
called
the
gate
and
it
limits
the
access.
You
have
to
your
money
and
you
can't
withdraw
it
when
you
want
it
and
that's
what
happened
in
the
money
market
funds
after
we
divested
50
million
from
the
prime
funds
and
moved
to
the
government
fund,
so
we
were
making
sure
that
we
had
the
liquidity
we
need.
A
So
the
last
chart
is,
is
total
investment
income
by
month.
This
goes
through
the
month
of
February.
You
can
see
that
in
the
light
blue.
That's
current
fiscal
year,
2020
we've
had
a
good
year
so
far
again,
I'm
really
expecting
marg
to
be
somewhere
between.
You
know
down
from
February
about
half
as
much,
but
then
it
would
be
looking
more
like
the
darker
blue
bar.
It
would
be
very
negligible
investment
income,
given
that
you
know
what
the
yield
curve
is
low
and
as
flat
as
it
is.
A
A
The
markets
have
uncie's,
there's
now,
liquidity
back
into
the
the
money
markets,
and
but
we
also
saw
the
one-year
t
bill
last
week,
actually
have
a
negative
yield
and
that's
when
somebody
would
buy
a
bond
knowing
that
they
are
going
to
pay
a
hundred
and
one
dollars
and
in
90
days
get
a
hundred
dollars
back,
never
seen
that
before
in
the
u.s.
they
have
it
in
Europe,
but
not
so
much
here.
C
I
C
I
So
when
you
said
we
take
out,
it
was
good
that
we
took
out
our
investments
from
the
primary
money
market
because
it
you
can
have
access
to
it.
They
freeze
the
money,
but
does
that
what
happens
when
you
move
the
money
into
the
money
market?
The
government
money
market
I'm,
considering
that's
from
what
I
hear
somewhat
volatile
as
well?
So
what's
the
advantage.
A
I
And
then
the
other
question
they
had
I
think
chair.
You
mentioned
about
the
property
tax.
So
when
you
look
at
our
overall
revenue
at
the
beginning-
and
it
shows
the
percentage
that
year
to
date
and
property
taxes
at
15%,
does
that
mean
that
we
just
haven't
collected
because
of
the
time
period
of
collections
for
property,
taxes
and
I
know
it's
a
month
behind
as
well,
but
I'm
just
curious?
G
G
That
we
have
received
so
if
you
were
called
back
to
the
conversation
that
Clayton
had
about
cash
versus
accrual,
so
everything
that
is
reported
through
December
31st
is
what
we
will
attribute
to
FY
20
and
what
had
already
been
received
at
that
time,
and
so
the
month
of
December
had
not
been
received
as
of
December
31st,
and
that
was
a
significant
amount,
as
you
can
see,
on
the
chart
the
table,
rather
on
that
same
page
for
property
tax,
as
well
as
an
another
bump
in
the
month
of
January.
Oh
okay,.
I
Just
checking
on
that
and
then
I
think
you're
going
to
talk
a
little
bit
more
about
possible
projections
for
revenue
in
a
bit
here.
So
yeah.
C
C
Okay
Mary:
will
you
talk
to
us
now
about
what
your
you've
been
thinking
as
far
as
cuts
we're
gonna
have
to
make
in
this
fiscal
year
and
then
later
on
under
the
agenda?
We'll
talk
about
next
fiscal
year,
but
we
know
that
given
what's
gonna
happen
now,
March
April,
I'm
sure
you're,
considering
some
types
of
cuts.
So
what
did
what
are
you
guys
thinking
and
then
what
role
do
we
have
as
the
Finance
Committee
when
it
comes
to
that
great.
G
Thank
you
for
those
questions.
Mr.
chair
counselors.
The
way
that
we're
looking
at
this
is
in
two
buckets:
it's
our
expenditure
lovers
and
our
revenue
lovers.
We
know
that
the
revenue
is
decreasing.
So
now
we
have
to
start
pulling.
Some
of
these
expenditure
levers
to
start
to
be
able
to
have
a
balanced
budget
at
this
time,
as
I
mentioned
before
salaries
and
benefits
are
the
largest
general
fund
expense
at
66
percent
of
the
total
expenditures
so
and
I
believe.
G
Similarly,
on
our
benefits
side,
this
will
be
something
that
is
not
does
not
impact
FY
20,
but
benefits,
as
we
have
also
presented
to
the
group
in
Prior
during
prior
finance
committee
meetings.
Benefits
are
a
significant
cost
to
the
city,
I
believe
our
a
on
benefits,
consultants
act
as
if
there
was
anything
better
than
the
Cadillac
plan.
You
know
what
would
be
the
next
theater
or
platinum
or
a
higher
tier
than
a
Cadillac,
and
that's
exactly
what
the
city
offers
as
far
as
our
health
benefits.
G
Currently,
so
it's
a
very
generous
plan
and
those
are
the
types
of
changes
that
we
look
forward
to
working
with
this
committee
on
that
would
impact
FY
21
and
not
the
current
year.
Moving
on,
as
I
mentioned,
we
have
over
2000
purchase
orders
that
are
open
as
of
today,
the
end
of
the
third
quarter,
so
our
staff
will
start
to
the
department
director
to
review
those
open.
Pos
are
full.
It
totals
about
50
over
15
million
of
unspent
expenditures
at
the
time.
G
G
Highlights
of
that
also
travel
is
another
large
category,
and
since
we
are
limiting
travel
as
also
the
mayor
and
the
governing
body
and
have
discussed
previously,
and
that
will
also
be
a
savings
going
forward,
our
procurement
team
is
also
working
on
for
the
current
year
as
well
as
into
FY
21
citywide
procurement.
So
what
does
that
mean?
C
G
Chairman
and
we
did
speak
with
the
Department
of
Finance
and
Administration
today-
and
their
guidance
to
us
going
forward
not
just
for
the
current
year,
but
also
for
the
next
fiscal
year,
is
to
continue
to
adjust
our
budget
through
the
budget
adjustment
process
that
we
normally
handle.
We
can
adjust
our
budget
as
you
all
do,
every
two
weeks
by
voting
on
budget
adjustment
resolutions,
we
can
adjust
it
up
or
or
we
can
also
adjust
it
down.
G
So
if
we
determine
that,
we
need
to
shrink
our
budget,
we
can
come
back
to
the
Finance
Committee
and
the
governing
body
through
this
budget
adjustment
process,
which
would
then
be
reported
to
the
Department
of
Finance
and
Administration.
That
being
said,
as
far
as
cutting
expenditures,
we
look
forward
to
working
with
you
to
understand
where
your
priorities
are
in
terms
of
reducing
services
or
reducing
different
budget
line,
items
and
I
think
this
group
is
very
well
equipped
to
be
able
to
give
us
some
guidance
and
advice
on
that.
G
F
G
That,
mr.
chairman
councillor,
O'meara
Wirth
mission-critical,
are
definitely
the
direct
services
that
the
city
is
considering
to
offer
at
this
time.
So
Public,
Health
and
Safety,
for
example,
our
Police
Department,
our
fire
department,
as
well
as
our
youth,
is
providing
clean
drinking
water.
Continuing,
provide
trash
and
courting
for
us
as
a
group
also
to
really
understand
what
the
city
is
legally
required
to
do.
F
Sorry
I
had
to
unmute
again
and
is
that
something
that
you
are
compiling
so
that
we
kind
of
understand
where
that
kind
of
bottom
is
and
then
we
can
I
don't
know
understand.
I
don't
know.
Is
that
the
right
way
to
go
about
this
understand,
then
what
we
can
do
beyond
that,
given
where
our
revenues
may
be?
F
G
I
think
for
the
current
fiscal
year
we
will
be
looking
at
as
those
260
vacant
positions
and
more
as
they
become
vacant.
So
we
can
provide
you
with
a
list
of
those
and
working
with
HR
working
with
the
city
manager
and
the
mayor
and
the
departments
understand
kind
of
the
first
cut,
what
they
deem
as
mission-critical,
and
then
we
can
share
that
with
you.
Yeah.
F
I
Thank
You
mr.
chair
councillor,
Romero
worth
covered.
Some
of
my
questions.
I
think
what
I
was
wanting
to
understand
is
again
about
the
POS
and
what
are
those
projects
that
are
just
in
the
pipeline
that
need
to
be
completed
and
it
just
takes
a
while,
like
some
of
the
POS,
often
are,
or
if
it's
just
stuff
that
we
have
open,
that
can
can
wait
and
I
guess
that's
why
I
would
like
to
know,
understand
that
analysis
and
then
I
think
friend
and
I
talked
a
little
bit
about
this.
I
But
when
we're
talking
about
citywide
procurement,
just
doing
things
smarter,
she
she
explained
a
little
bit
to
me
about
that.
Maybe
you
can
share
a
little
bit
more
about
what
that
means.
You
gave
example
pens,
but
it
was
also
like
thinking
about
fleet
and
thinking
about
ways
that
we,
when
we
order
it's
not
just
per
department,
it's
like
citywide
and
that
we're
doing
we're
getting
a
cost
savings
because
of
the
way
we're
ordering
or
purchasing
so
I.
Don't
know.
A
fewer
friend
would
want
to
just
elaborate
on
that.
Yeah.
G
G
M
Thank
you.
Can
you
hear
me?
Yes,
okay,
hello,
mr.
chair
and
council,
yes,
I
did
have
a
discussion
with
Councilwoman
Bri
all
the
other
day.
We
did
talk
about
some
ways
of
saving
and
the
citywide
price
agreements
are
important
to
me.
I
just
launched
one
for
on-call
services
for
Janet
on
call
services
for
janitorial
services,
I
just
launched
it.
M
It
is
going
out
and
will
be
up
on
April
3rd,
and
that
is
critical
for
the
city's
needs
right
now,
with
all
the
cleaning
of
buildings
and
different
offices
and
such
so,
we
did
our
first
launch
yay
I'm
excited
about
that,
but
the
other
types
of
procurements
we
were
looking
into
and
that
I
did
discuss
was
also
the
fleet.
We
were
talking
about
fleet
vehicles,
exactly
what
Mary
said
to
see.
If
everybody
can,
you
know
cookie-cutter
every
single
same
vehicle
see
what
the
needs
are.
Leasing
is
an
option.
M
It's
not
what
I
prefer,
but
it
is
an
option
and
it's
also
a
good
way
to
save
funds.
So
with
that
being
said,
they'll
also
be
automotive
parts
I'm.
Looking
at
that
to
do
a
citywide
price
agreement
because
we
have
multiple
fleets
in
different
departments-
it's
not
just
all
one
and
also
with
the
food
I
know
that
there
is
some
statewide
price
agreements,
but
there's
also
the
CES
agreements
for
food.
I
M
I
And
I
think
I
think
that's
all
I
have
for
now
curious
more
about
as
we
look
at
physicians,
how
that's
gonna
play
out.
We've
we've
been
there
before
some
of
us
have
been
on
the
council.
It's
really
challenging
and
then
also
benefits
and
how
to
make
adjustments
to
the
health
care
coverage.
E
You
mr.
chair,
regarding
benefits,
this
actually
might
be
a
question
that
we'll
have
to
talk
to
Bernadette
about
I
know
that
we
are
a
self-insured
plan.
Have
we
looked
at
potentially
the
kind
of
if
it
might
be
beneficial
to
move
away
from
the
self-insured
plan,
given
how
much
that
could
potentially
cost
us
at
this
point
with
a
pandemic
coming
on.
G
Given
the
current
scenario
of
increased
health
care
costs
related
to
the
public
health
crisis,
we
have
not
looked
at
that,
so
what
we
can
do
is
in
future
Finance
Committee
meetings.
We
can
invite
our
benefits
consultant
a
on.
They
did
provide
us
a
presentation
last
year
about
our
benefits
and
the
plan,
and
we
can
do
that
again,
but
this
time,
in
light
of
our
current
health
care
crisis,
that
we're
facing
I,
think
that
would
be
wise.
E
And
then
you
know,
as
councillor
O'meara
worth
and
burial
mentioned,
I'm
also
curious
about
those
2000
POS
talking
to
our
different
departments
on
projects
you
know
looking
at,
for
example,
our
capital
improvement
projects.
Those
have
gotten
have
gotten
started
those
that
are
going
to
be
as
crucial.
You
know,
you
know,
as
I
mentioned
mission-critical
things,
that
we
really
need
to
be
moving
forward
with
and
making
those
decisions.
E
So
if
we
can
be
getting
information
from
all
the
different
departments
on
what
those
projects
look
like
what
those
views
are
where
they
are
on
the
project-
and
you
know
based
on
the
director's
assessments
of
what
they
feel
needs
to
move
forward.
You
know
what
that
priority
list
looks
like
now,
knowing
that
that
priority
list
has
to
be
a
lot
tighter.
N
E
G
What
we
can
provide
it
sounds
like
we're:
mapping
out
our
next
few
Finance
Committee
meetings
as
well
as
we
move
through
the
questions
from
each
of
the
different
counselors.
So
what
we
can
ask
is
for
Regina
to
provide
an
update,
I
think
she
provides
an
update
to
the
public
works
committee
on
a
regular
basis
as
to
the
status
of
each
of
the
projects,
but
I
think
if
we
want
to
have
her
present
to
the
Finance
Committee.
G
E
Be
that
was
also
my
other
question.
You
know:
do
we
do
we
foresee
the
stake
clawing
back
more
of
that
money
that
they
have
dedicated
to
these
projects?
We
know
that
they
already
did.
You
know
the
governor
vetoed
some
of
the
capital
improvement
money
that
we
were
supposed
to
get,
but
you
know:
do
we
foresee
that
also
coming
or
it
in
the
future,
but
this
special
legislative
session
that
we
assume
will
happen.
G
Mr.
chairman
councilor
Ken
Sanchez
more
than
likely.
Yes,
that
is
what
we
had
to
look
forward
to
in
our
future.
So
I
think
having
this
body
have
the
understanding
of
what
funds
have
already
been
spent.
What
has
already
encumbered
what
shovels
are
in
the
ground?
I
think
that
would
be
helpful
information
going
into
a
legislative
session
where
there
is
a
possibility
of
capital
outlay
dollars
being
swept
back.
Mr.
chairman,
on
that
point,.
F
E
Last
question
just
has
to
do
with
you
know:
I
know
that
we
just
transferred
some
money
from
the
rail
yard
fund
over
to
the
general
fund
and
I
think
Mary.
You
mentioned
that
this
is
something
else
that
you're
looking
at.
Where
else
do
we
have
flexibility
within
these
funds,
and
that
would
also
be
something
that
I'd
really
be
interested
in
hearing
more
about
and
potentially
having
a
presentation
on
it's,
you
know
what
does
that
look
like?
C
B
B
G
Different
scenarios,
mr.
chairman
council
area
Lyndell,
at
this
point
we
do
have
an
F
white
twenty
one
budget
base
budget
that
was
established
when
the
crisis
hit
about
two
weeks
ago,
the
budget
staff
had
been
working
extremely
diligently
and
in
collaboration
with
department
directors
and
the
mayor
and
the
city
manager
to
put
this
package
together
at
this
point.
What
we've
had
them
do,
instead
of
because
we
were
going
to
project
an
increase
in
revenue,
a
slight
increase,
but
given
the
state
of
the
economy,
we
were
projecting
an
increase
in
revenue.
G
We
were
also
considering
additional
investments
so
realistically,
the
entire
month
of
February
we
spent
discussing
with
department,
directors
and
staff
the
different
priorities
and
the
different
investment
ideas
through
eat
throughout
each
of
the
different
departments.
Unfortunately,
at
this
point
we
have
had
to
put
a
pin
in
that
and
actually
start
to
completely
reverse
our
thinking
about
what,
as
you
were,
indicating
what
are
going
to
be
some
of
our
primary
areas
for
revenue
projection.
You
we
see
that
is
that
a
10%
is
it
a
20%?
G
You
may
recall
from
some
of
the
prior
presentations
that
the
finance
team
has
given
to
this
committee
over
the
course
of
the
last
recession.
Over
the
course
of
three
years.
The
city
lost
15
million
in
GRT
revenue
alone,
and
so
again
we
are
unsure,
as
the
second
quarter
report
states.
At
this
point,
the
magnitude
and
the
duration
of
this
crisis.
We
know
it
will
be
steep.
It's
like
the
rug
has
been
pulled
out
from
underneath
and
unlike
last
time,
when
there
was
that
15
million
did
decrease
over
multiple
years.
G
So
at
this
point
we
are
expecting,
as
we
were,
sharing
with
you
earlier,
the
actual
revenue
and
the
month
of
April
to
be
significantly
under
what
we
were
expecting.
So
this
is
an
immediate
FY
2000.
At
this
point,
we
are
pivoting
to
from
the
FY
21
base
budget
and
the
revenue
projections.
Again,
as
you
mentioned,
is
it
going
to
be
10
percent
15
20
%
lower,
and
where
is
that?
Where
are
we
gonna
see?
Those
decreases?
G
Is
it
in
the
utility
funds,
but
the
utility
funds
continue
to
provide
service
residential
services,
but,
as
we
see,
businesses
potentially
closing
in
the
future
that
might
impact
services
that
the
utilities
provide
to
the
commercial
sector.
So
we're
going
to
potentially
see
a
decrease
to
the
utility
funds
as
well.
So
that
will
be
a
different
impact
than
the
impact
to
the
general
fund
and
our
revenue
sources
and
the
general
fund.
G
G
But
right
now
our
priority
is
addressing
our
FY
2010
dition
and
where
we
are
going
to
start
and
how
we
are
going
to
start
working
collaboratively
with
our
budget
team
and
our
directors
and
the
city
manager
and
the
mayor
to
make
the
adjustments
that
we
need
to
make
and
then,
as
soon
as
stabilized
and
we
feel
like.
We
have
a
good
plan
for
the
remaining
three
months
of
the
fiscal
year.
G
Then
we
can
pivot
to
and
resume
our
planning
for
FY
21,
as
we
do
know
a
little
bit
more
about
how
this
is
going
to
bottom
out.
If
it's
going
to
be
a
steep
V
curve
and
we're
gonna
drop
very
quickly
and
then,
as
soon
as
the
economy
gets
restarted
and
we're
all
able
to
go
out
into
the
public,
whether
it's
a
couple
of
two
or
three
or
four
months,
the
V
then
starts
to
bounce
back
up
or
if
we
just
see
a
steep
decline
and
then
a
flat
line
of
that.
G
F
F
Don't
know,
ask
a
patch
well
heck
of
a
better
way
to
phrase
it
but
and
I
think
you
know
once
I,
once
we
have
a
clearer
picture
of
our
financial
situation,
I
I
think
we'll
be
in
a
better
position,
also
to
suggest
to
the
legislature
what
would
be
critical
for
our
continued
operation
and
providing
the
essential
services
to
the
community.
So
just
wanted
to
add
that
that,
and
particularly
at
the
federal
level,
we're
going
to
need
to
know
what
kinds
of
things
we
might
be
eligible
for.
H
B
My
thoughts
are
that
nothing
is
too
small
to
consider-
and
you
know,
we've
been
talking
about
fleet,
okay.
Well,
here's
an
idea:
maybe
we
don't
buy
new
cars
for
a
year.
Maybe
we
say
you
know
what
we're
not
going
to
be
buying
a
new
fleet
this
year.
If
we
can
limp
along
for
an
extra
year
with
these
cars,
then
maybe
that's
what
we
have
to
do.
B
Instead
of
spending
seven
eight
hundred
thousand
dollars
next
year
on
cars
or
trucks,
I
know
we
have
a
schedule
for
it,
but
I
think
that
those
are
the
kinds
of
considerations
that
we
need
to
go
to,
that
nothing
is
too
small
to
be
considered
a
place
to
save
money,
because
I
think
we're
going
to
need
to
save
a
crazy
amount
of
money
to
keep
just
the
basics
going.
I,
don't
want
to
be
the
prophet
of
doom
here,
but
I
want
to
be
realistic.
B
You
know
when,
when
you're
treading
water
and
trying
to
find
your
way
out
of
this,
it's
hard
to
be
looking
to
the
future
and
planning
for
when
we
recover
from
this
it's
really
hard
to.
But
that's
a
really
important
part
of
this
also
is
having
you
know
in
the
last
recession,
when
we
got
the
tarp
program
having
projects
that
were
in
fact,
shovel
ready
and
projects
that
we
could
move
ahead
on
quickly
and
that
we
were
eligible
for
those
monies.
B
B
So
chair
I'd
like
to
spend
more
time
talking
about
this,
but
those
are
just
my
initial
thoughts
with
it
and
I
will
say
that
last
time
around,
we
were
not
able
to
dig
our
way
out
of
15
million
dollars
with
extra
existing
existing
unfilled
positions,
and
we
won't
be
able
to
do
it
this
time
either.
So
those
are
my
initial
thoughts.
Thank
you.
C
C
I
had
a
discussion
with
the
mayor
the
other
day
and
what
I
don't
want
is
I,
don't
want
Mary,
you
and
the
staff
and
the
mayor
for
that
matter
to
go
through
all
this
work,
putting
together
budget
cuts
without
any
input
or
information
from
us,
and
then
you
bring
it
to
us
and
we're
like
wow.
How
come
you
decided
to
cut
here
or
where
did
this
come
from?
C
C
F
F
C
Would
be
great
because
what
I
want
to
do
if
possible,
is
compile
a
list
of
issues
things
that
we
need
to.
We
would
like
information
on
and
then
I
like
to
actually
set
up
a
subcommittee
of
members
of
the
Finance
Committee
and
have
the
subcommittee
meet
in
between
Finance
Committee
meetings
and
then
bring
back
reports
and
I
actually
would
like
councillor
Romero
worked
and
Councilman
Dowell
to
sit
on
that
subcommittee.
C
The
rest
of
us
could
join
it,
especially
if
it's
an
area
we're
interested
in
like
counselor,
Casa
Sanchez
talked
about
how
counselor
via
Rael
talked
about
procurement.
But
to
me
it
would
be
really
helpful,
like
I
said
Mary,
and
we
can
start
working
on
this
and
at
least
giving
you
our
ideas
and
what
we're
concerned
with
and
then
hopefully,
when
you're
developing
the
budget
with
the
mayor
and
Doral,
you
could
say
hey.
C
This
is
what
the
Finance
Committee
is
concerned
with
or
looking
at
or
and
so
because,
like
I
said,
I
want
to
have
a
smooth,
that's
possible
budget
hearings,
because
we've
done
a
lot
of
this
work
ahead
of
time
and
not
you
know,
I
don't
want
to
see
this
massively
cut
budget
for
the
first
time
at
budget
hearings.
I,
don't
think
that's
fair
to
any
of
us
great
thoughts
from
the
committee.
F
The
employees
that
we
have
will
be
very
important
and
I
think,
as
Ms
McCoy
said,
you
know
making
sure
that
we're
providing
the
city's
essential
services
are
also
going
to
be
really
important
filters
for
us.
So
I
don't
know
those
are
just
a
few
that
come
to
the
top
of
my
head.
But
maybe
there
are
you
know
a
handful
of
things
that,
as
we
look
at
at
this
task
ahead
of
us,
they
help
guide
us
and
help
us.
I
C
C
D
Just
wanted
to
remind
the
chair
in
the
and
the
committee
that,
if
you
have
three
members
together
even
between
finance
committees,
that
Custer's
the
quorum
and
you'll
have
to
have
minutes
and
an
open
meeting
and
everything
just
as
if
it's
a
regular
committee.
So
you
take
that
in
consideration
that
with
a
subcommittee,
it
will
have
to
be
an
open
meeting.
If
you
have
a
quorum
and
that's
three.
Okay,.
I
C
G
Is
absolutely
one
of
our
priorities
both
for
the
state
manager,
the
mayor,
a
cenarf
staff
department,
directors
going
forward?
I,
don't
think
we
want
to
do
across
the
board,
10%
cuts,
which
is
very
rudimentary
and
basic.
We
really
want
to
take
a
more
sophisticated
approach
and
really
be
able
to
understand.
You
know
the
in
of
the
decisions
that
were
making
you
know
not
just
on
our
staff
but
on
our
constituents
right
on
the
folks
that
you
all
represent
right.
F
And
mr.
chair
I
mean
maybe
what
we
should
be.
It
sounds
like
there's
a
bit
of
interest
in
this.
Among
all
the
members,
as
you
would
imagine,
there
would
be,
and
maybe
what
we
need
to
do
is
look
at
just
having
a
few
more
finance
committee
meetings,
just
adding
a
few
more
to
the
calendar.
If
we
all
want
to
dive
into
this
and
given
the
open
meetings
requirements
and
of
course
we
want
to
comply
with
that.
So
that
might
be,
you
know,
W.
F
G
Mr.
chairman
and
councillors
just
to
review
the
schedule
as
we
go
forward,
the
FY
21
budget
is
due
to
DFA
by
June
1st
as
Alexis
litera.
The
budget
director
and
I
spoke
with
the
head
of
local
government
today,
and
he
did
confirm
that
the
budgets
are
still
do.
However,
I
believe,
as
I
mentioned
previously
to
the
governing
body.
G
The
DFA
is
allowing
us
to
submit
our
FY
20,
but
as
a
placeholder
for
FY
21,
and
then
what
we
can
do
is
through
our
quarterly
reporting
and
our
budget
adjustments,
the
first
of
which
is
due
on
July
31st
to
DFA.
We
can
continue
to
revise
our
budget
as
we
understand
the
economic
impact
and
the
impact
to
the
city's
revenue
streams,
as
we
go
forward
and
almost
take
this
on
a
month-by-month
basis,
but
very
similar
to
how
we,
how
you
all
approve
the
budget
adjustments
every
two
weeks.
G
We
then
compile
that
as
an
amended
budget
and
submit
to
DFA
on
a
regular
basis,
and
that
is
what
Donnie
and
Brenda
from
DFA
recommended
that
we
do
going
forward.
We
are
also
going
to
be
having
a
series
of
meetings
with
the
Municipal
League
and
the
local
government
division,
together
with
other
finance
and
budget
directors
throughout
the
state,
to
garner
ideas
and
understand
how
other
local
governments
are
dealing
with
this
crisis
as
well.
G
So
a
few
things
that
I
would
like
to
point
out
on
that
is
that
I
think
the
conversation
today
has
really
focused
around
expenditures
and
what
expenditure
lovers
we
have
to
pull
during
this
crisis
going
forward.
I
would
also
like
to
point
out
a
few
areas
where
expenditures
are
already
set.
For
example,
bond
proceeds,
the
2018
GRT
bond
has
to
be
spent
85%
of
that
revenue
has
to
be
spent
within
three
years.
That
is
a
solid
amount
of
revenue.
You
can
almost
be
seen
as
a
counter
cyclical
measure
if
we
continue
forward
with
those
capital.
G
Expenditures
in
our
community
same
goes
for
the
gas
tax
bond,
the
last
gas
tax
bond
I
think
Regina
and
her
team
have
been
continuously
updating
you
on
the
progress
with
that
with
that
revenue
source.
So
those
are
expenditures
that
will
continue
to
move
forward
and
continue
to
support
expenditures
in
our
community.
G
That
being
said,
an
additional
support
to
our
community
that
this
committee
can
also
look
at
our
changes
to
the
procurement
code.
Where
do
we
want
to
focus
our
policy
changes
to
support
our
local
businesses,
our
local
or
our
small
businesses
in
Santa
Fe,
and
how
do
we
change
the
procurement
code
and
those
small
and
local
business
preferences
to
support
our
community
here?
So
that's
another
policy
change
that
we
could
bring
forward
in
these
discussions
and
understand
the
impact
to
expenditures
if
we
do
make
those
changes.
In
addition,
blad
nice,
where.
G
And
I'm
glad
you
brought
up
the
point.
I
was
the
next
bullet
point
that
I
had
taken
notes
on,
while
you
were
speaking
earlier
councillor
Romero
worth
that
federal
money,
as
we
have
seen
in
the
family's
first
act
and
then
two
trillion
dollar
packages
that
was
passed
last
week
are
essentially
in
different
categories
and
the
more
the
city
can
align
our
priorities
along
with
those
categories,
the
better
our
chances
are
to
receive
that
federal
support
in
the
months
ahead.
G
That
will
also
inform
where
some
of
our
budget
priorities
are
for
FY
21
and
then
the
third
it.
So
that's
really
our
revenue
package
to
a
revenue
lever
and
not
necessarily
an
expenditure
lever.
Another
revenue
lover
that
is
also
extremely
important
that
you
also
alluded
to
councillor
Romero
worth
is
the
state
the
potential
help
that
we
can
get
from
the
state
government.
G
That
being
said,
I
want
to
point
out
two
areas
where
we're
starting
to
compile
a
legislative
package
ahead
of
a
special
session
that
we
would
like
to
focus
on
primarily
is
the
internet
sales
tax
in
the
current
year
and
again,
for
next
year,
we
are
seen,
is
a
flat
disbursement
on
a
monthly
basis
of
$62,000
of
GRT.
This
was
the
Legislature's
effort
to
close
the
internet
sales
tax
loophole.
G
So,
while
the
state
gathers
information
about
how
the
internet
sales
tax
is
distributed
throughout
local
governments,
they
have
used
a
methodology
that
enables
the
city
of
Santa
Fe
to
receive
a
flat
sixty-two
thousand
dollars
per
month
for
FY
2008
when
t1
and
so
as
part
of
our
legislative
package.
We
look
forward
to
encouraging
the
taxation
and
revenue
department
in
the
governor's
office
to
actually
make
those
adjustments
in
real
time
and
FY
21.
G
We
know
a
lot
of
our
commerce
now
is
being
pushed
from
bricks
and
mortar
to
the
Internet,
and
so,
if
we
can
take
advantage
of
that
increase
in
GRT
from
closing
that
internet
sales
tax
loophole
in
FY
21
and
not
wait
until
FY
22.
That
is
an
additional
revenue
lever
that
we
can
push.
In
addition
to
that,
there
are
certain
funds
as
councillor
Kassovitz
Sanchez
was
referring
to
that,
such
as
the
railyard
fund
that
we
can
look
to
to
support
general
expenses.
General
municipal
purpose
expenses.
G
Right
now,
most
of
those
funds
are
authorized
in
city
ordinance.
However,
there
are
a
few
funds,
such
as
the
lodgers
tax
that
are
actually
governed
by
state
statute,
and
so,
as
we
look
forward
to
building
our
legislative
agenda
and
our
legislative
requests,
it
would
be
to
see
how
we
can,
for
this
time,
broaden
the
allowable
uses
for
our
balances
and
the
lodgers
tax,
and
so
again
that
would
be
something
that
would
require
a
state
statute,
a
change
to
state
statute.
G
As
opposed
to
something
that
this
body
could
do
change
to
city
ordinance,
so
that's
really
where
we
would
be
looking
to
work
collaboratively
and
and
put
forward
a
plan
to
our
legislative
delegation
to
support
as
they
go
into
a
special
session,
and
these
are
changes
that
we
would
hope
could
have
could
be
effective
in
FY
21.
So
we
could
see
those
additional
that
additional
revenue
coming
into
the
city
as
well,
and
we
look
forward
again
to
other
ideas
that
come
up.
G
G
I
I
think
just
hearing
that
just
music
to
my
ears
about
lodgers
text
and
changing
that,
but
I
think
I
thought
that
to
be
something
that
we
voted
on
as
it's
not
something
that
you
changed
the
constitutional
level,
maybe
council
Romero
worth
knows,
but
I
think
there's
been
always
this
idea
of
bludgers
tax
being
able
to
be
used
and
dispersed
in
looking
at
the
community
benefit,
as
that
also
benefits
tourism,
but
I,
know
I
thought
there
was
more
to
it
than
that
than
just
changing.
It.
I
G
Mr.
chairman
councilor
via
rail,
we
can
work
with
our
city
attorney
to
look
into
that
as
we
continue
to
flesh
out
these
ideas
and
again,
these
are
ideas
at
this
point.
These
are
you
know,
every
ideas
being
brought
to
the
table
and
considered.
These
are
two
that
we're
considering
at
this
time,
and
we
will
work
with
our
so
the
attorney's
office,
as
well
as
our
our
city
lobbyists,
to
pursue
these
further.
It
is
also
set
in
city
ordinance,
so
we
would
also
have
to
change
city
ordinance
at
state
statute
is
the
key
here.
I
E
F
E
B
Know
thank
you
chair.
Thank
you.
Mary
I
appreciate
the
email
that
you
sent
out
and
the
topics
the
way
that
they're
listed
I
think
that
it's
important
for
us
to
start
work
on
this.
As
a
committee,
and
you
know
all
the
comments,
I
think
that
that
we're
all
pretty
well
braced
for
what
we're
in
for
and.
B
B
What's
what
we're
looking
at
and
I,
don't
think
anybody
wants
to
read
about
any
of
this
in
the
newspaper
instead
of
hearing
about
it
and
internally
and
discussing
it
and
working
on
it
and
I
think
that's
really
important
for
us
to
work
on
this
together
and
everybody
have
input
and
know
that
it's
kind
of
a
long,
hard
process.
But
those
are
just
my
comments,
it's
time
for
us
to
work
on
it.
Thank
you.
C
Thank
You
councilman
Dell.
So
if
you
can
take
a
look
at
the
email
over
the
next
few
days,
add
some
things
that
are
missing
and
then
we
need
to
talk
about
the
best
way
to
proceed
with
getting
this
information
to
the
the
Finance,
Committee
and
I.
Think
it's
gonna.
It's
gonna
benefit
both
ways.
Obviously
it's
gonna
keep
us
informed,
but
it's
also
going
to
inform
you
meri
and
the
manager
and
the
mayor
about
where
what
our
perspective
is
as
a
Finance,
Committee
and
so
I.
F
C
Ideas
the
best
way
to
do
this.
It
sounds
like
right
now
we
might
have
to
look
at
additional
finance
committee
meetings.
So
if
you
can
start
taking
a
look
at
that
Mary
and
we
can
start
pulling
the
committee
members
about
well-
maybe
it's
one
one
more
a
month
or
two
more
and
then
obviously,
if
we
can
keep
stuff
on
the
consent
calendar,
then
maybe
we
can
tackle
some
of
these
things
during
a
regular
scheduled
meeting.
C
E
Thank
you
just
a
real,
quick
question
about
you
mentioned
updating
this
document
is
there
a
way
that
you
would
like
to
do
this?
That
there's
not
you
know
five
different
versions
of
the
same
document
that
then
somebody
has
to
compile,
and
we
or
list
you
know
is
there
any
shared
drive
we
could
use
or
anything
like
that,
since
we
have
to
do
this
all
virtually
at
this
point,
I'm.
C
G
G
So,
as
you
all
are
looking
for
ways
to
continue
to
collaborate
and
move
forward,
I
would
recommend
their
Microsoft
version
of
shared
documents
is
office
365.
So
you
can
create
an
English
word
document
and
share
that
you
can
create
a
calendar
and
share
that
you
can
also
create
an
Excel
document,
so
we
can
all
look
at
or
work
on
as
well.
So
that
is
something
the
finance
team
has
been
getting
adjusted
to
as
well
in
these
last
few
days.