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MOTION, SECONDED AND CARRIED: Councilman Kubby moved, seconded by Deputy
<br />Mayor Davey, and carried unanimously, that the application for variance for
<br />tennis court by Dale W. Junta, be approved, all six conditions required for
<br />%W such variance having been found to have been met.
<br />2. Review of Proposed Budget for Fiscal Year 1973-74.
<br />The City Manager reviewed the proposed budget for Fiscal Year 1973-74.
<br />Following preliminary discussion of the proposed budget, the City Manager
<br />was directed to forward copies of the budget to members of the Planning
<br />Comm ss Ion.
<br />Speaking from the floor, and requesting that her remarks be Included in the
<br />record, Mrs. Pat Standring Inquired concerning page numbers missing from
<br />the proposed budget. The City Manager stated that certain page numbers
<br />were excluded to conform to the budget's system of showing figures on one
<br />page, with explanation of figures on the facing page, and that a sheet list -
<br />Ing these excluded page numbers Is Included In the budget.
<br />Speaking from the floor, and requesting that her remarks be Included In the
<br />record, Mrs. Harold Schick stated that she had heard, and had read In the
<br />paper, that the Town had $1,000,000. Mrs. Schick Inquired whether that
<br />figure Included everything existing In t me deposits, and all the monies
<br />that the Town had had.
<br />The City Manager stated that the total estimated expenditures for the 1973-
<br />74 fiscal year total $1,020,000. Mr. Lawson stated further that the reve-
<br />nues and other monles available for 1973-74, including time deposits and
<br />all other montes In the bank (approximately $640,000), total $1,333,000.
<br />Mrs. Schick stated her understanding that the security the Town had had In
<br />the bank was Included In the expenditure. Mr. Lawson replied that It was
<br />Included, stating that the budget Is a total financial picture. Mrs.
<br />Schick stated her belief that the Town, In that case, was not holding Its
<br />tax rate, because while the tax rate remained at $.40, assessed valuation
<br />was increasing, so that actually the Income accruing from taxes Is increas-
<br />ed.
<br />Mr. Lawson stated that the General Fund reserve, currently at a level of
<br />$110,000, does not represent the entire $649,000 In the bank, adding that
<br />that amount Includes sewer money, monies earmarked for storm drainage, last
<br />year's gas tax accumulation, and money accumulated so far this year but not
<br />spent, so that the $649,000 is not the Town's reserve, but rather the
<br />Town's reserves have been, and currently are, the General Fund amount, now
<br />standing at $110,000.
<br />Following discussion, it was agreed that all Council members would be con-
<br />tacted to schedule a special meeting for the purpose of studying the pro-
<br />posed Budget for Fiscal Year 1973-74, pr l or to the Counc I l's first regular
<br />meeting In June.
<br />It was the consensus of Council to declare an official public hearing on
<br />` the Proposed Budget for Fiscal Year 1973-74, for the regular Council meet -
<br />Ing of June 6, 1973.
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