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211 <br />Regular Council Meeting <br />7/18/94 <br />Page Seventeen <br />IVir. Brett said this combines all of the debt service into one debt service fund as opposed <br />to the three that were out there before. It is a more updated standard of the accounting <br />procedures in governmental finance. It takes the Recreation impact fund and the <br />scholarship fund and merges them into the Recreation Fund. <br />r-O Mr. Fixler said he recalled years ago when the scholarship fund was set up, they had to <br />M do that separately because there was concern regarding who would oversee this fund if <br />M there were problems. He remembers discussion whether Recreation could use any of <br />< that money a couple of years ago on some playground equipment. Mr. Fixler said now, <br />z you are going to be lumping that money into the Recreation Fund. He asked if this now <br />? isn't pretty much what we couldn't do according to our previous Finance Director a few <br />years ago? <br />Mr. Brett said his rationale was that one of the primary sources of funding for the <br />Scholarship Fund was a transfer from the Recreation Fund. Since you already merged <br />the two... <br />Mr. FixTer said that is not 100% correct because the proceecls from the race went to the <br />IZecreation Fund but immediately went from the Recreation Fund to the Scholarship <br />Fund. That money was untouchable. That money was earmarked for the Debbie <br />I iudaclco Scholarship Y'rogram. 1VIr. Fixler asked if Mr. Brett is now saying that he is <br />going to take the scholarship money and lump them into Recreation and saying that <br />Recreation will have full use of that money. He asked if he was sure he wants to do <br />that. <br />Mrs. Cinco said we can look in that further. <br />A brief discussion was held. <br />Mr. Busa and Mr. Ferrante withdrew their motion to suspend the rules -of Council <br />requiring an ordinance to be read on three separate occasions. <br />Ordinance No. 94-45 remains on first reading. <br />ANY OTHER MATTER THAT MAY COME BEFORE COUNCIL <br />Mr. Basile said when he used Wiley Park last weekend a dog was running loose and he <br />had to call the Police Department. <br />CLOSING COMMENTS