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Year 2003-2004 in June, 2003, Council directed staff to report back after the State budget <br /> adoption with updated estimates and recommendations. Attached to her staff report was a <br /> worksheet that included original estimates and revised estimates. Joiner noted that the <br /> Finance and Investment Committee had met to consider the budget adjustments and <br /> recommendations. The Committee recommended that all budget adjustments be <br /> approved by the City Council, with the exception of $16 000 for the undergrounding <br /> phone survey. The Committee wanted more information on this request. <br /> Steve Schmidt, Undergrounding Subcommittee member, was present to answer questions <br /> of the Council and Committee. He explained that the phone survey would be undertaken <br /> by a professional research firm that had performed a similar survey for Manhattan Beach <br /> during their investigation of undergrounding of utilities. The survey would provide the <br /> Town with the necessary information to make a decision on whether to proceed with the <br /> project. Schmidt added that it was a good leverage of dollars considering the potential <br /> cost of undergrounding utilities to the Town. <br /> The budget adjustments to the Operating and Capital Improvement Program Budgets for <br /> Fiscal Year 2003-2004 Based on Adopted State Budget will be considered by Council for <br /> approval at their next regular schedule meeting of November 20, 2003. <br /> 5. PRESENTATIONS FROM THE FLOOR <br /> None <br /> 6. ADJOURNMENT <br /> Mayor Pro Tem O'Malley thanked the Finance and Investment Committee for their <br /> participation in tonight's meeting. He noted it had been a good dialogue. Administrative <br /> Services Director Sarah Joiner and Accountant/Office Manager Cindy Higby were praised <br /> for their efforts and congratulated on the excellent financial statement presentation and <br /> auditors findings. <br /> Mayor Cheng thanked everyone for their participation. <br /> MOTION SECONDED AND CARRIED: Moved by O'Malley, seconded by Fenwick <br /> and passed unanimously to adjourn the Special City Council meeting at 6:30 p.m. <br /> Respectfully submitted, <br /> <br /> KaCA <br /> ren J t <br /> City Clerk <br /> The minutes of the November 17, 2003 Special City Council Meeting were approved at <br /> the December 4, 2003 Regular City Council Meeting. <br /> 3 Special City Council Meeting Minutes <br /> November 17,2003 <br />