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February 5, 2007 <br /> <br /> <br />CITY MANAGER’S REPORT <br />1. Gatesworth Expansion <br />Gatesworth expansion was continued to the next Council meeting, February 26, <br />2007. <br /> <br />2. Introduction of Deputy City Manager/Finance Director Janet Watson. <br />Ms. Janet Watson the new Deputy City Manager/Finance Director of University <br />City was briefly introduced and she introduced Mr. Mike Williams of Hochschild, <br />Bloom & Co. to continue his presentation on the independent report his firm <br />prepared from their audit findings of University City. <br /> <br />3. Comprehensive Annual Financial Report by Mr. Mike Williams of Hochschild, <br />Bloom & Co. <br /> <br />Ms. Brot asked if the figure presented in the retirement fund was what University <br />City should anticipate would have to be funded. Ms. Ricci asked if it meant <br />benefits payable. Mr. Mike Williams said that it meant benefits payable in excess <br />of money available. He said it is funded over a period of many years. Mayor <br />Adams said that University City’s actuary has told Council that the fund would <br />need to be paid into yearly and Mr. Williams was just reporting the numbers he <br />had been given by the actuary. In addition, Ms. Brot inquired the source of the <br />figures that supported the deficit budget number. <br /> <br />Mr. Williams said the third section, Statistical Data, showed the trend information <br />over a ten year period. This was reported in a new way this year. He explained <br />the performance of the general fund and other funds citing their detail over a <br />period of years. <br /> <br />Ms. Ricci asked Mr. Williams if anything he reported for University City stood out <br />or appeared to be of concern compared to audits done by his firm of other <br />municipalities. Mr. Williams said that this was an unqualified report, meaning <br />they did not find any problems which needed to be addressed. <br /> <br />Ms. Brot said that University City had experienced a large over-run on its capital <br />projects that affected the City’s reserve fund balance. In 2006 the reserve fund <br />balance was 15 percent and in 2007 it was to be 17 percent. She wanted to <br />know if this was an adequate balance compared to that of other cities the size of <br />University City. <br /> <br /> <br />UNFINISHED BUSINESS <br />BILL 8923 <br />1. — AN ORDINANCE AMENDING CHAPTER 34 OF THE MUNICIPAL <br />CODE OF THE CITY OF UNIVERSITY CITY, MISSOURI, RELATING TO <br />ZONING DISTRICTS ESTABLISHED PURSUANT TO SECTION 34-22 <br />THEREOF, AND ENACTING IN LIEU THEREOF A NEW OFFICIAL ZONING <br />MAP, THEREBY AMENDING SAID MAP SO AS TO CHANGE THE <br /> 4 <br /> <br />