. >> members of the committee, i'm leo levinson and i'm the deputy director for finance and administration for the successor agency. our administrative budget is approximately $10 million. our overall budget is around 300 million, that's mostly debt service and bond proceeds. but in terms of administration, it's about $10 million. our salary budget is about 4 million. >> so, i don't know -- so, what was your initial reaction when you saw the material weakness from the suggestions from the audit? >> well, actually, at the time this audit came about, i was with the controller's office where i was a division director. and, so, i guess to some degree i have a response to the material weakness. in january, i was invited and asked to take an assignment with the successor agency specifically to address the situation. and as what had already been in place was the transition -- the former redevelopment agency used to use its own financial system that was separate from the city's system, a system called j.d. edwards. and the capacity to really use that system had declined, especially with the loss o

furtherance of the previous actions that you have taken to the budget and with that i would like to ask leo levinson who is the director of finance and administration to present this item. >> thank you, chair johnson and commissioners, i am the deputy director for finance and administration. >> and i will be brief on this i am and happy to answer the questions. this is a follow up on the matter that you heard previously and there has been an informational memo since then and this will enter into the liability with the alie ant insurance services not-to-exceed, 166,000 and but today i have heard from alliant actually not-to-exceed amount will be below 160,500. and so consistent with the annual value of the short term contract, we are operating under now. but we entered into a 3-month contract with alliance within our purchasing guidelines for 33,000 dollars, that takes us through september, 29th. and this will allow us to enter into a full year for the 160,000 level. and we are very familiar with alliance, and they provide, the property insurance, to the city, and for us through the city's contract,