1996-11-20 (2)
8 MINUTES OF JOINT SPECIAL MEETING OF THE CARDIFF SANITATIQN
DISTRICT, SAN DIEGUITO WATER DISTRICT AND ENC/NITAS CITY COUNCIL
NOVEMBER 20, 1996, IMMEDIATELY FOU 0 WING THE
REGULAR MEETING, 505 SOUTH VULCAN A VENUE
Since this was a joint special meeting held after the' regular City Council meeting, Mayor Bond
chaired the meeting.
Present: Board Members James Bond, Lou A$pell, John Davis, and Chuck DuVivier.
Absent: Board Member Gail Hano.
Also City Manager Wasserman, City Attorney Krauel, City Clerk Cervone, Assistant
Present: City Manager Benson, Financial Services Manager Suelter, Budget Officer Hill, and
Deputy City Clerk Greene.
There being a quorum present, the meeting was in order.
.
8 None.
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Jl. Sol \"-'" ~rt 0" Finaa~ &o\l~ r~ ~~~; I~:et ~':...~:..:
Actual B.DnIDa Fund BaJanc~ for FIScal Year -. . 8
City Manør Benflo9ì
Budget Officer Hill reviewed the swnmaryreport on fmancial results for FY 1995-96, and reported
on actual beginning fund balances for FY 1996-97.
Ms. Hill stated. that interest earnings played a notable roll in all funds for the fiscal year. The City's
pooled investment income totaled $2.9 million for the year compared to an earlier projection of
$2.25 million, which represented 28% over budget. The average investable amounts exceeded
projections by approximately 12-15%, mainly due to large cash inflows in the Transnet fund and
capital and operating spending below expectations.
Ms. Hill stated this was an information item only, and no Council action was required.
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11/20/96 CSD Joint Special Meeting
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None.
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Board Member Bond declared the meeting adjOUJ11ed at 9:20 P.M.
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By: Kathy Greene,
Deputy City Clerk
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