welcome, dan kaplan. >> thank you, commissioners. i'm here to give an overview of the budget proposal as it stands today, and as you remember, we go through a process of working internally then making a proposal to the mayor's office, which we are set to do on february 21st, and then, we'll go into a period of time where the mayor's office will be asking us questions, and we will be answering and discussing various other people will be talking to the mayor's office, as well, and ultimately, that -- that will all result in the mayor proposing a budget, which will happen on june 1st of this year, and then, the budget process will move to the legislative phase, and the budget and legislative analysts will prepare reported and analysises related to the mayor's proposal, and that will be discussed with the board and hearings will be held and we'll ultimately get to the place where the board makes some changes possibly but then ultimately votes on and approves the budget for the city, and that will happen right at the beginning of july. so

all in favor of the budget as -- all in favor of the fiscal year budget presented by dan kaplan. motion to approve? >> motion. >> second? >> second. >> all in favor, aye. any opposed? none. motion carries. thank you to the staff for providing very, very good, useful information, and bringing clarity to a process that is frequently opaque. okay. back to the rest of the agenda. item a, review and approval of the medicare improvements for patients and providers act, contract mi-171806, associated budget and subsequent amendments. welcome back, michael. >> hello, again, commissioners. the item before you today, the department of aging announced they made funding available for area agencies for the mippa program. we have to enter into a contract with california department of aging to access the fund. that contact has been added to your packets. part of the execution of that contract requires it coming before the commission for e approval. again, mippa sounds for medicare improvements for patients and providers act. there are two main things, increase low-income subsidy, and that's sub

for the record, for the record, i'm dan kaplan.

for the record, for the record, i'm dan kaplan. i am the deputy director of the human services agency for administration. and i guess i'd like to start off by talking about our process and where we are in the process and then we will go into the substance of this presentation. so, the department of aging and adult services is of course part of the human services agency. and the human services agency has within it a sort of a large support staff area. it does a number of things, but one of the things we do is we develop the budget for the agency, of course, we do that in cooperation with shireen mcspadden and deputy directors like cindy and joe, and program directors throughout the agency. and we do it with a budget staff and emily gibb and tiffany wong are two of the members who have worked on the daa is budget this year. we reach out to the program offices throughout the agency to ask them to identify areas of new need, changing regulation, changing law. changes in the patterns of consumption of services. and then potentially inno

dan henson joining us on the boe and marc chandler stays with us. we speak with the chief executive officer of rio tinto. jacalked dividends with mr. ques. and that tomorrow, robert kaplanying corrections are healthy and the u.s. and global markets have gone for an extended run without a correction. ask him to elaborate on that. this is bloomberg. ♪ ♪ taylor: this is "bloomberg surveillance," i'm taylor riggs. let's get your bloomberg business flash. the parent of snapchat delivered its first upbeat quarterly reports and going public last year. orrth quarter sales better-than-expected, 72% and the number of active daily users broke 18%. that has snap shares soaring in premarket trading. dissing is trying to stem the tide of people dumping his espn cable channel. the company is revealing more information about the espn streaming service that will be introduced in the next few months that will cost for 99 a month -- $4.99 a month which will give subscribers access to thousands of live sports events a year. they are close to five and million dollar deal for the los angeles times. he is one of the major shareholders. journalists at the l.a. times have been at odds with the