administrative code. this is an action item. >> good morning. deputy director for finance and administration. i have an update to the administration code. the authorities administration code directs the authority with a method of appointment of employees and policy consisted of the authority's operations and management. the last of the administration code was in july 2007 -- the last review of the administration code. we made two changes to the administration code. the first, where you can see on page 12 of your packet, is related to the employee performance evaluation of the executive director conducted. we would like to recommend a change that the executive director's performance evaluation take place on december 31 instead of july 1 of each year and where the recommendation should be for the prior 12 months instead of what the pack it indicates as the current year of the evaluation. this was a request made by share --chair mirkarimi in june. the other changes relate to consistency within the codes -- updating the date the actual committee and board meetings take place, and just a few updat

. >> i am deputy director for finance administration. this item starts on page 11 of your package. we will have a short power point presentation, and then i will turn it over to our executive director. this is your second look at the fiscal year 2010-2011 budget. we've had one change in estimates. we have worked with the comptroller's office and took a look at the state board of equalization revenue information and have decreased sales tax revenues by $2.3 million. we are anticipating total revenues for fiscal year 2010- 2011 to be $129.2 million. let me take you through the presentation. as you are well aware, we are required by the puc code to adopt the budget by june 30, 2010 of each annual year. the annual budget consists of six different components. estimates for sales tax revenue, a federal, state, operating cost, and financing and debt service costs. your budget package includes four different attachments. on page 14, you have attachment a, which is the preliminary fiscal year 2010-2011 budget. this is an executive view of the budget. attachment b is fiscal year 2010-2011 an

deputy director for finance and administration. i have a quick update for the investment and cash report balance. as directed by the authority's investment policy, we bring before you the status of investment and the compliance of the cash balances for the authorities. for the june 30 -- as of june 30, we have approximately $97 million sitting in the cash accounts. approximately 94% is in the city and county treasury pool. we also have funds sitting in a money-market account with deutsche bank in compliance with commercial paper inventor. currently, with a $97 million balance, we have sufficient liquidity and funds for the next six months. we have no problem forcing and the expenditures in the next year. if there are any questions, i would be more than happy to answer them. commissioner mar: seeing no questions, let's open this up for public comment. is there anyone from the public that would like to speak? seeing none, public comment is closed. thank you for the informational items. we have one last information item. >> item 7, in

administration. elaine is a longtime member of the city and county of san francisco. the department of finance and administration is the second- largest division out of six at the port. it oversees the regular finance functions, which john and i cannot wait to pass back. tina olson left in november 2009, and in the interim nine months, we have a five-year financial forecasts, our first- ever two-year budget, our 10- year capital plan, etc., etc. thank you so much for coming back and joining us. elaine has worked for many different from a tiny city, including the san francisco airport finance division, the board of supervisors has a legislative and budget analyst, and most recently, she was the chief financial officer for the department of city planning, so we are extraordinarily lucky to have recruited her to the port, and i wish you a tremendous term, and there's plenty of work still to do, so i did not want to think we did adopt want you to think we did it all in your absence -- i did not want you to think we did it all in your absence. please welcome elaine. next, the project manager in the

deputy director finance and administration. the purpose of this informational item is to advise you on any material changes to the biennial annual operating and capital budgets. from the proposed budget that the port commission approved on march 9, 2010. both budgets have changed. as a result of the mayor's office and board of supervisors review. starting first with the operating budget, the fiscal year 2011 budget is 66 million,

deputy director finance and administration. the purpose of this informational item is to advise you on any material changes to the biennial annual operating and capital budgets. from the proposed budget that the port commission approved on march 9, 2010. both budgets have changed. as a result of the mayor's office and board of supervisors review. starting first with the operating budget, the fiscal year 2011 budget is 66 million, $382,000. these changes are a result primarily of reductions in salary and fringe benefit costs from the public employee wage concession agreement, and that goes for both years. also significant as the reduction in countywide cost allocation. the cost of the work orders increased overall in fiscal year 2010-2011 $640,000, due to increases as police department services here the planning department for ceqa review, and the workers' compensation budget because of higher than anticipated cost the entire year. these increases were offset by reductions in work orders. the annual budget, which were allocated

finances detailing. the obama administration. charge me borrow your marginal last word here where you invest your i usually am going to hear my say. gold so while i'm very kosher commodities but the physical stuff i mean the physical as it were not some paperwork on there's eighty times more paper there than the physical metals and then in asia style emerging markets even though william mentioned but i also wanted a really really really create there are actually those people in the united states who are aware of what's happening what you just ask about the tea partiers and why our way our way or where there is growing in their beds needs to be tightened for example the woman there on ron paul the texas congressman ron paul who was also the president before so that's that's really one of the few also they have but right now they don't look like they want any chance to do more to move ahead and dangle our general election and see where the economy goes maybe we'll all get together in the next corner many thanks to my guest today in

the obama administration said the plan could be financed by scrapping tax breaks for oil and gas companies. france faces further traffic disruptions from strikes planned for late monday. the cause is the presentation of a pension reform bill. the state aims to raise the minimum retirement age from 60 to 62 with a full pension available at 67 instead of 65. the government says that without changes, the french pay-as-you- go pension system would run up annual deficits of 50 million aroseuros by 2020. the plan to mobilize millions of protestors. >> the latest cease-fire declaration from the separatist group has been met with skepticism in spain. the interior minister said the announcement was insufficient because it did not include a permanent renunciation of violence and the dissolution of the group. according to video released on sunday, they decided to end defensive armed actions in favor of the democratic process. it has been blamed for hundreds of deaths over the past quarter decades. strong aftershocks have continued to rock new zealand. authorities in christ church and extended the sta

the obama administration said the plan could be financed by scrapping tax breaks for oil and gas companies. france faces further traffic disruptions from strikes planned for late monday. the cause is the presentation of a pension reform bill. the state aims to raise the minimum retirement age from 60 to 62 with a full pension available at 67 instead of 65. the government says that without changes, the french pay-as-you- go pension system would run up annual deficits of 50 million aroseuros by 2020. the plan to mobilize millions of protestors. >> the latest cease-fire declaration from the separatist group has been met with skepticism in spain. the interior minister said the announcement was insufficient because it did not include a permanent renunciation of violence and the dissolution of the group. according to video released on sunday, they decided to end defensive armed actions in favor of the democratic process. it has been blamed for hundreds of deaths over the past quarter decades. strong aftershocks have continued to rock new zealand. authorities in christ church and extended the sta

around the world and that is going to create jobs all this other talk is finance is the tail what are you the obama administration. charge me bar and i want to give marginal last word here martin where you invest in am i going to hear my ear.

and gas sectors as well as shipping and finance and if they go ahead with this additional set of sanctions, that will put more pressure on the obama administration to take aggressive action, too. >> five seconds. >> john, the new black panther party case that is causing things on the right, they will come out with the findings in september and you will hear more about the minute man cases of where minute men at six different polling places intimidated hispanic voters and that was also dropped by the bush administration and the obama administration did not pick it up. >> quickly, proof will emerge in some of the nuclear powers. don't forget to join us on twitter and facebook. bye bye.

finance tax committee. so i don't see any good sign in the government's policy discussion. >> mm-hmm. >> reporter: but ueno supports the kan administration for taking action to send the yen lower in the global currency markets just a day after the prime minister was reappointed. >> the intervention was surprise also for me. so to move the market in the timing was excellent at present. however, whether the intervention is success or not is decided after some weeks or even some month. if we see stronger numbers of u.s. economy, then the dollar is going to be bought and the yen is going to be sold. so then the japanese intervention is going to be a success. >> well, moving on to japanese government bonds, considering kan's fiscal policies and considering the states of world economies right now, how do you think the japanese government bond market will perform from now on? >> we have already found the upper side of the range. so now the market is beginning to search for the lower side. u.s. situation and the bank of japan movement, those two keys for the market movement in the near future. mr. kan is on the fiscal belt tightening side, but h

condit is seeking to put a new step on his administration and party leadership after surviving a challenge for his job earlier this week contact the post of finance and defense but change ten of the seventeen members the new members will be sworn in by emperor akihito. in buenos aires thousands of students and teachers have hit the streets demanding more funding for education protesters cited severe conditions in schools and universities and accuse argentina's top politicians of neglecting free public education critics say most of the country's school facilities haven't been renovated in decades the education ministry says its education budget for two thousand and ten is the highest in the last eight years. time to take a journey now as artie's close team continues its series to the expects warring the vast and varied regions of russia. this time we journeyed to russia in a region of the country's far east it's famous for its serenity beauty unique wildlife and the island also boasts large energy resources rich in oil and natural gas the areas of particular interest to the country's energy giants who had a chance to experience the riches of the i

internet and watching video the obama administration wants to double the spectrum available and auion it off to private companies to reduce the federal deficit d to financeew public sety communications network. >> this is the prime thing th everyone wants and the question is, how do we use this to better our society and reduce the federa budget? >> reporter: it's expected to sell for billions of dollars because exting frequenes can't keepace with the demand for more band width. >> if we dent give me spectr, we will all be much more limited in what we can do wi our mobile devices. we're capping today at at & t is between 2 and 3 gigs of what used to be an you will you can eat data plan. >> reporter: marvin, an expert in media policy and visiting scholar at stanford, expects years of fhting to free up the air waves. the spectrum is currently used by tv stations and government agencies. >> you'll see a knock down, drag out fight to hold on to this worth billions of dollars to broadcasters and could bworth billions to at & t, verizon or google and others. >> reporter: opening up more spectrum is expected to stimulate the economy, creating new start-ups and j

a fully developed administrative record in a timely manner, something that is easily said it takes a lot of work and it is important to get these details direct in terms of the finances and business of the city. the issue of the note of the directors hearing, if the person is given time, they can of beer and that time give testimony and there will be a finding made by the building official. that order is now the critical factor once you are done with the appeals and various processes. that is the document that has been reported on the title. with that there are basically two tracks that occur. one is the compliance permit, which might involve penalties, etc., and then there is the assessment of the cost. those two actions need to be taken for us to lift the revocation and release it from the title. if someone fails to pay the assessment costs, we have many orders of abatement still on properties. on a manual basis we do this annually, replacing those costs with reporting and interest charges on the tax bill according to the board of supervisors occurring within the next two weeks of august 3. generally that is the way that the process works right now. the timing and

finance department will come up with a policy and legal will draft the language. commissioner norton: we have resolutions in process. i would like some backtrackicheg so we can make sure whatever is administratively approved before the next board meeting is not going to push us over. it is making sure we close this loophole, and to make sure until we get that language down that we are not approving more than the limit at a given point. i am not being very clear. >> we as staff are violating the policy the board approved if we are going aboave the threshold. you made that adopted. we just need to discuss with you the process that we will put in place so we can make sure that is not happening. >> there is one other thing related to this if i may. another part of this whole process that hasn't been -- that we haven't figured out the mechanics of yet is how to get the reports on what has been administratively approved by the board. frankly, to review them, i had to look at the orangals in the file, which i prefer not to do. i don't want to be responsible for messing up the order or whatever. that is the only way to have done it before this meeting. that is all there was, the originals. >> commissione

finance department will come up with a policy and legal will draft the language. commissioner norton: we have resolutions in process. i would like some backtrackicheg so we can make sure whatever is administratively approved before the next board meeting is not going to push us over. it is making sure we close this loophole, and to make sure until we get that language down that we are not approving more than the limit at a given point. i am not being very clear. >> we as staff are violating the policy the board approved if we are going aboave the

administration says it worked the first time. they want to try it again. also creating a new infrastructure bank that would financehose projects, and all of this paid for by rolling back oil and gas tax breaks. now, on wednesday, the president goes to cleveland and he's going to talk about a different idea, $100 billion in research tax breaks for small businesses. the idea being if small businesses can get this tax break, they'll be in a better position to create new jobs. these tax breaks ran out, they expired in december. president obama is hoping to make them permanent. as you said, unemployment nationally now at 9.6%. the obama administration and the democrats headed into an election trying everything they can to create some new jobs, especially in the next two months. garvin? >> thank you very much, tracie. >> the downturn in the economy is also leading to a downturn in births. bay area hospitals say fewer babies were born in 2009 than the year before. doctors say they've heard from many patient ws who would be parents but say the economy does not put them in position to give them the best opportunities. the

>> i would like to separate the steps that we took in the prior administration took to bring stability to the housing financeystem. those are critical. it is not a statement that the future system should look like the past. it is the opposite. as we figure out what the new system should look like, we can not disrupt the market. we cannot disrupt the ability of homeowners to get mortgages. it is critical to maintain so that congress can decide what the right system is for the future. >> the gentleman's time has expired. >> the rule agreed to on september 12 includes the liquidity requirements for banks that will encourage them to effectively buy the debt of fannie and freddie as well as mortgage backed securities. the banks will be required to have enough high-quality liquid assets. fannie and freddie count as high-quality debt. how can you ensure that they will not take on more risk than they can effectively handle? >> let me say a little bit about the capital rules and then maybe turn it over to director demarco. the capital rules are important to bring stability to the system. increasing the capital requir

financing al qaeda in. spain has been trying to nab him for two years. >> mark, thank you. >> a victory for the obama administration in the debate over stem cells. yesterday a federal appeals court ruled government-funned embryonic stem cell research can continue for now. they ordered last month to block that research, a decision that is being appealed. of. >>> former president carter is expected to be released from a cleveland hospital this morning. mr. carter was admitted yesterday after experiencing an upset stomach during a flight from atlanta. the 85-year-old former president plans to resume his book tour today. >>> and actress lindsay lohan is back in rehab this morning. yesterday the new photo was released showing her on her west hollywood terrace reading a self-help book called "the power of rest" she voluntarily checked into rehab yesterday. she must stay there until her next court date, which is october 22nd. mark your calendar for that one. dave price, let's switch things up a bit here, a first check of the national weather this morning. >> from one stormy situation to another. let's see what is happenin

finance. this is really not development aid being the central part of the story. the obama administrationtheir speech got this right. their speech got this right. they said this is not just about aid but a whole broad approach to economic reform in the four countries. give them access to trade it global finance and a whole sweep of the issues they need to be able to grow. development aid is a small part of the story. host: 10 more minutes with our guest. add on our line for democrats. caller: hello. caller: hello. i saw the president's o speech in front of the u.n. they cut short on the is really speech. i have not heard any reason why they were. why were they not there? why have we not heard about it darks guest: this is the first i have heard of this. i can only guess they had a bilateral meeting with the palestinians or something along that. i would be surprised if there was any kind of intended snub. host: on our independent line from cambridge. caller: what is the real purpose of the united nations darks -- nations? [unintelligible] guest: the answer is very few. the united states ha

finance unit but denies it was a bribe. >> students at one bay area high school are still in shock after a fatal car crash. the reason the school district is questioning the actions of teachers and administrators>> there has been another surprising discovery in the san francisco bay. the second in the past four days. >> good morning. san francisco drivers facing a pretty good commute right now. i will tell you more about the morning drive to work and the bay weather straight ahead. our real national pastime? saving money. and like baseball people love their stats. i started bringing my lunch to work -- 50 bucks a week in my pocket. here's a good one: state farm insures 40 million drivers. more than geico and progressive combined. i saved because i'm accident-free. of course, with so many ways to save including discounts of up to 40%, having that many customers shouldn't be a surprise. so ask a neighbor about state farm, then call an agent at 1-800-state-farm or go online. >>> good morning. we have low clouds and breeze from sfo to fairfield and vacaville and napa the wind has picked up out of the west- southwest. highs 60s and 70s. >> 5:22. a utah national guard general apologizing and taking