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Minutes of the Regular Meeting of Couricil Tuesday, January 17, 2012 . Page 5 . . 2011 -$14.6 million. So, thaYs from $9.5 to $14.6. Of that change, $3.6 between 2010 and 2011 reflects the increase in the tax rate. What that tells us is that in other areas, regardless of the rate increase, we are seeing an increase in revenues and in fact our General Fund revenues jumped from 2009 total revenues of $1234 million, 2010, $13.2, not quite a million inerease and then it jumped in 2011 $17.35 million in total revenue. I would note lhat in a lot of other communities, they are not faring as well. We have been very very foriunate. At the same. time we have been mindful of keeping expenditures down. In 2009 when we really entered into a lot of austerity measures, the total expenditares were $11.6 million, 2010, we were able to use up a little bit following the vote. We paid back some retro pay as per the commihnent with our employees. Total expenditures were $12 million and in 2011, $13.45 million. Ron can explain some of those inflationazy factors. There are also some projects that we undertook that we had held off doing primarily dealing with essential infrastructure, most notably witli the Aintree subdivision. We are. projecting similar road improvements. It's about a million dollaz project. We expect azound a$700-750,000 project to do the North Aintree azea. We are, since yesterday when I met with Department Heads, we will be looking at possibly adding some other streets. We also have to revisit the septic to sewer conversion which is a very costly process for Eastgate, Meadowood, Thomapple. Every year we have looked to find some ways to fund through State and Federal dollazs. It's become a much tighter race to be able to get those dollars. That's something we will revisit in conjunction with managing our finances. Gonsistent with that overall approach, you may recall we looked at about five different categories. Another is Yooking at oui total outstanding debt. In 2009, we were at $16.32 million total debt. We paid down just. under $1:4 million between 2009 and 2010 so it stood at $14.96, ' just under $15 million at the end of 2010, and at the end of 2011, down to $13.27 million which is really exactly what Ron had tracked when we published our article last April. We are projecting to pay down another $1.63 million this year which would reflect between 2009 : and the end of 2012 paying down about a third of the total outstanding debt. Sticking on.to the track the schedule that Ron has projected, we would look to pay down about another million or so, about a million and a half. We would get down to just under $10 million. So our goal has been to stay on track between 2009 to 2013, and in that five yeaz period pay down about 40% of the debt. Our reserves; which is another area that Ron has been very attentive to: At the end of 2009,.we were at just under $870,000 in our reserves. 2009 was really prabably the most challenging year for us, between 2008 and 2009 as we looked at the bubble that burst in the mazkefs overall. But in 2010 and again in part because we were able to start channeling the additional dollars in revenues, we salted away and $2.9 million was the measure of our-reserves at the end of 2010 and at the end of 2011, this past April we had projected looking at all factors a$3.2 million reserve. We have actually more than doubled that. We are at $6.8 million reserves.