2007-02-26 Council Agenda - Laserfiche WebLink

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VERSION 1 City stated that the staff recommended no change in the Single Family zoning on a couple of lots as an assurance to maintain its current single- family residential nature. In the future, if Mr. Deutsch wanted to expand to these remaining single-family zoned properties, he would have to submit another proposal to the Planning staff. The Public Hearing was adjourned at 7:05 p.m., to the next Public Hearing on February 26, 2007, at 6:30 p.m. CITY MANAGER’S REPORT 1. Gatesworth Expansion Gatesworth expansion was continued to the next Council meeting, February 26, 2007. 2. Introduction of Deputy City Manager/Finance Director Janet Watson. Ms. Janet Watson the new Deputy City Manager/Finance Director of University City was briefly introduced and she introduced Mr. Mike Williams of Hochschild, Bloom & Co. to continue his presentation on the independent report his firm prepared from their audit findings of University City. 3. Comprehensive Annual Financial Report by Mr. Mike Williams of Hochschild, Bloom & Co. Ms. Brot asked if the figure presented in the retirement fund was what University City should anticipate would have to be funded. Ms. Ricci asked if it meant benefits payable. Mr. Mike Williams said that it meant benefits payable in excess of money available. He said it is funded over a period of many years. Mayor Adams said that University City’s actuary has told Council that the fund would need to be paid into yearly and Mr. Williams was just reporting the numbers he had been given by the actuary. In addition, Ms. Brot inquired the source of the figures that supported the deficit budget number. Mr. Williams said the third section, Statistical Data, showed the trend information over a ten year period. This was reported in a new way this year. He explained the performance of the general fund and other funds citing their detail over a period of years. Ms. Ricci asked Mr. Williams if anything he reported for University City stood out or appeared to be of concern compared to audits done by his firm of other municipalities. Mr. Williams said that this was an unqualified report, meaning they did not find any problems which needed to be addressed.