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MONDAY,' NOVEMBER 28, 1988 <br /> <br />Made a part of these minutes, as addenda thereto, are the following documents: <br /> <br />Report of the Council Members of the Committee on Efficiency <br />in Government of Martinsville City Council on Martinsville <br />Five-Year Financial Forecast, as originally presented by the <br />City Administration on November 2, 1988, and as subsequently <br />revised (excluding exhibits attached thereto); and <br /> <br />City Manager Brown's Response to the foregoing report, <br />presented under date of November 28, 1988 (exCluding <br />attachments). <br /> <br />In connection with the first-named report hereinabove (prepared by Councilmen <br />William C. Cole, Jr., and Allan McClain), and with regard to policy <br />considerations, the following questions were raised and/or the following <br />suggestions were offered: <br /> <br /> I. What is the reason for the existence of the Enterprise Funds? <br /> <br /> II. Should money in excess of the net profit (of the Enterprise <br /> Funds) be transferred from these funds if such transfers would <br /> reduce the accumulated surplus in such funds below the minimum <br /> levels recommended by the City Administration? <br /> <br /> III. Should Council permit expenditures to rise more rapidly than <br /> revenues from currently available sources? <br /> <br /> *** <br /> <br /> TO BALANCE IN 1989-1990 <br />1. Add $110,000 to revenue for 2-year real estate reassessment; <br /> <br />2. Increase water rates by 10¢ (per 1,000 gallons, and increase <br /> sewer rates by 13¢ (per 1,000 gallons of water used); <br /> <br />3. Transfer to General Fund from Electric, Water and Sewer Funds <br /> the same amounts as are being transferred in the current <br /> 1988-89 year; <br /> <br />4. Allow no increase in General Funds expenditures <br /> (appropriations); <br /> <br />5. Initiate study to determine how to increase Electric Department <br /> profits; <br /> <br />6. Discuss the future of the Electric Department's Escrow Fund; <br /> and <br /> <br /> <br />