it over to megan wallace who is our budget manager, and daly dunham, but i would like to thank lawrence brown and he managed the capital review this year. 25 projects came in and we are submitting 7 to you for approval. we had an internal review work who did a lot of work on these projects and finally i want to thank brad benson, not only for guiding the development of the capital plan but for negotiating the pg&e settlement which is generating the big one-time source of funds that we're recommending for investment today. with that, i'll turn it over to megan . >> good afternoon, i'm megan wallace from port finance. in 2009 voters approved a charter amendment that required the city to begin a two-year budget process that had an alternating 5 year financial plan update on alternating years. the goal of such planning is to shift the focus from short term budgeting and problem solving to a longer view of financial planning. this allows city staff to develop thoughtful solutions for problems and maximize the potential upside and opportunities that we face in our budget. this is the third official