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in reserves specifically for building improvements. For the year, the amount transferred <br />from the general fund unobligated reserves was an estimate of $40,000 as it relates to the <br />difference between the amount of revenues and expenditure. The general fund <br />unobligated fund balance will be repaid during the current fiscal year as the City receives <br />reimbursement for grant expenditures of $1,025,379. <br /> <br /> <br />The previously distributed list of accounts represents the fourth quarter budget transfers <br />that require Council approval to balance the General Fund Budget. A net increase of <br />$217, 251 is required to balance the FY ’06 budget. <br /> <br />6. Setting of Council Schedule <br /> <br />2007 University City Calendar <br />As we begin to prepare for the a vital component is the <br />scheduling of Council meetings. The Charter simply states that Council will meet once a <br />month. You decide how many meetings, what time, when and where you meet. Based on <br />feedback, I’ve prepared two sample calendars Option 1 with Council meetings on first and <br />third Mondays (with the exception of April due to Passover). Meetings are moved forward <br />to the next Tuesday in the event that a Federal or religious holiday falls on the regular <br />date. There is only one meeting set for July, August and December. While this <br />scheduling method provides consistency in terms of meetings, a drawback would be that <br />Tuesday meetings will be in conflict. There are occasions that the Arts and Letters <br />Commission, Historic Preservation Commission or Pension Board might meet on the same <br />night. Thursdays are the only “meeting free” night consistently. Option 2 represents a <br />Monday meeting only schedule. Quarterly study sessions have been incorporated into <br />both options. What are your preferences? <br /> <br />H:\AGENDAS COMBINED\2006\AUGUST\AUGUST 28 2006.DOC <br /> <br />