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worth it. We should be looking for other sources of revenue rather than trying to <br />maximizing yield. It’s kind of like I’m satisfied with what we have right now. So, as far <br />as in my division, we’re a small division. The other departments looking at their revenue <br />streams and how it can maximize or enhance those that they control. You can look it up <br />in all types of revenues that we have. As far as my agency, my division, it’s not going to <br />make a huge impact. <br />MS. WONG: <br /> Thank you. <br />MS. O’HARA: <br /> I just have one last question. As Gloria pointed out, we have these <br />three subcommittees for our Cost of Government Commission, is your division using <br />micro fische? <br />MR. OKUMOTO <br />: No. We’re on the scanning system. <br />MS. GARSON: <br /> You mean Laserfiche? You don’t say micro fische anymore. <br />MS. O’HARA <br />: Laserfiche, I’m sorry. <br />MR. OKUMOTO <br />: Yes, we are scanning. <br />MS. NICHOLSON: <br /> Any other questions? <br />MR. TAKABA: <br /> How does interest rates affect expenses? Your interest expense. <br />MR. OKUMOTO <br />: On the flip side, we’re not getting much revenue from our investments <br />but we’re getting very good interest rates for our bond floats. The last one we did in <br />July, we’re at an all time low. So in that respect we’re saving money from that side. <br />MR. ARMOUR: <br /> Will you be refinancing any of the old bonds? <br />MR. OKUMOTO <br />: We have one issue that is getting to that sweet spot, so we’re looking <br />at that. Right now we have some savings but we want to get it so that, what we’re <br />dealing with is that we’re advanced refunding which means there is a 10 year call point <br />with no penalty which we call it for 10 year point. So we want to be close to that 10 year <br />point because if you’re calling before, its called an advance refunding, you have to put <br />this maturities that are before the 10 year call point into an escrow and they earn <br />interest. But interest rates are so low, so it takes away from the portion that after the <br />10 year point. So kind of like one of the closer to the 10 year call point and then do the <br />refunding. <br />MS. NICHOLSON: <br /> Okay shall we move through. Who would like to go next? We have <br />two new people who have joined us. If you could introduce yourselves and say what <br />department you’re with. <br />MS. LUGO: <br /> I’m Molly Lugo from the Office of the Corporation Counsel and I handle <br />collection work. <br />6 <br /> <br />