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Session 1868 <br />February 10, 2003 <br /> <br />AGENDA ITEM # 1 -CONSENT CALENDAR: <br /> <br />The City Manager, Frank Ollendorff, recommended that the Council adopt the <br />Consent Calendar including: <br /> <br />Parking Lot Resurfacing at Community Center and Golf Course- <br />The addition of up to $24,000 to the contract with Microsurfacing, Inc. <br />to improve the parking lots at Ruth Park Golf Course and the <br />Community Center. He stated that these amounts had been budgeted <br />and that supplementing the existing contract would be more <br />economical than soliciting new bids for these projects. <br /> <br />Elgin Pelican Sweeper for Streets Department- <br />Mr. Ollendorff advised Council that Key Equipment appeared to be the <br />only vendor in the Midwest region capable of supplying the street <br />sweeper specified by the Central Garage. He recommended <br />purchasing the sweeper from Key Equipment for their bid of $112,500, <br />which was within the budget estimate. <br /> <br />3) General Fund Quarterly Budget Transfers- <br /> <br />The City Manager recommended approval of transfers including <br />expenditure and revenue accounts as necessary to keep a balanced <br />budget through the first two quarters of the current fiscal year. <br />The transfers fell into several categories: <br /> <br />1. $560,000 in additional expenditures for a variety of grant <br /> projects offset by revenue increases in the same amounts. <br /> <br />A net increase over the budget amount for a variety of <br />expenditures totalling $200,000 such as major expenditure <br />increases for medical insurance and accelerated computer <br />network installation. <br /> <br />Most of the cost for a new aerial fire truck was charged to <br />reserves built up for this purpose in prior years as previously <br />agreed. <br /> <br />He estimated a net revenue shortfall, primarily caused by the <br />economic downturn, which will total $976,000 and which <br />consisted primarily of below budget estimate sales tax <br />revenues. He advised the Council that reserves from prior <br />years had been established precisely to cover such cyclical <br />shortfalls and were adequate to meet University City's short- <br />term needs. Mr. Ollendorff stated that if economic recovery was <br /> <br />2 <br /> <br /> <br />