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Special Mtg Minutes <br />3-31-03 <br />Page 4 <br />operating revenues, here is the effect on cash balances at the end. They are all positive. There are <br />positive cash balances in each of those projected at the end of the year for 2003 all the way <br />through 2007. <br />Council President Buckholtz said your point is, at worse case scenario there is less cash balance <br />at the end of the year. <br />Mr. Brett said no. In the worse case scenario there is sufficient cash to cover. <br />Council President Buckholtz addresses Mr. Marquardt. You're concern is that there is a drop in <br />the cash balances? <br />Mr. Marquardt said, I'm just looking at the numbers, my interpretation of them looked like there <br />was a gap when you look at just the operating, things that we're obligated to, operating expenses <br />and service and dept. <br />Council President Buckholtz said, you're asking if we're using dept to cover operating expenses? <br />Mr. Brett said, we're not using dept to cover operating expenses. You are not allowed to use dept <br />to cover operating expenses. All of the dept issuance is in either the capital improvement funds <br />or the dept service funds. They are not in either the special revenue funds or the general funds. <br />All retirement and dept services are in the general fire retirement fund. All that activity is <br />excluded from any the of operating or special revenue funds, with the exception of transfers from <br />the general fund to the bond retirement fund, which would be operating revenue subsidizing dept <br />service. <br />Council President Buckholtz asked, any comments? <br />ROLL CALL: Ayes: Mr. Buckholtz, Mrs. Cinco, Mr. Riter, Mr. Marquardt, <br />Mr. Marrie, Mxs.lVlills, Dr. Parker <br />1Vays: None <br />Motion Carried <br />Ordinance Enacted <br />OPEN PORTIO <br />Council President Buckholtz said, I have been asked by Lee to make sure everyone knows that <br />Alan Bennett passed away. He was a former Mayor of Mayfield Village, Councilman, and <br />volunteer Fireman. The Funeral Service will be Wednesday April2nd at 11:00 and the Schulte <br />Funeral Home. The family will receive friends Tuesday 2-4 and 7-9 p.m. Everyone received <br />noticed. <br />Mrs. Mills added, there will be a reception after the services at the cemetery in the Community <br />Room.