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Minutes of an Adjourned Regular Meeting <br />�w February 5, 1997 <br />Town of Los Altos Hills <br />City Council Adjourned Regular Meeting <br />Wednesday, February 5,1997,5:00 P.M. <br />Council Chambers, 26379 Fremont Road <br />1. CALL TO ORDER AND ROLL CALL <br />Mayor Hubbard called the Adjourned Regular Meeting of the City to order at <br />5:00 p.m. in the Council Chambers at Town Hall. <br />2. <br />Present: Mayor Hubbard and Councilmembers Casey, Dauber, <br />Johnson and Siegel <br />Staff: City Manager/City Engineer Jeff Peterson and City Clerk <br />Pat Dowd <br />Press: None <br />Finance Jim Steiner, Chairman; Art Bernstein, David Struthers and <br />Committee: Lew Throop <br />A. 1996 Accomplishments <br />The Finance Committee submitted a summary of 1996 acitivities and accomplishments. <br />Their report noted that the committee had reviewed and commented on the following <br />topics: 1) 1996-97 Annual Operating Budget; 2)199697 Capital Improvement Budget; 3) <br />1996 Auditors comments; 4) Building Fees (May 1996); 5) Finance Software System <br />Request for Proposals and Purchase Recommendation; 6) Various financial reports <br />(mid -year, annual comprehensive, etc.) and 7) began discussion of reserves policy <br />recommendation to the City Council. <br />Jim Steiner, Chairman, addressed the reserve policy and said the committee hoped to <br />have a recommendation to the Council by spring. This recommendation would include <br />in what categories the reserves should be held, the appropriate amount of reserves and <br />a comparison with the Town's funds. <br />Febmary 5, 1997 <br />Adjourned City Council Meeting <br />