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: <br /> <br />October 12, 1999 <br /> <br /> Fiscal Year accounts for the positive variance in expenditures. <br /> Overall Fund balances declined almost $700,000 during August. <br /> The largest decreases occurred in the Schools ($590,000) and <br /> Capital Reserve Fund ($599,764). The decrease in the School <br /> Fund is a normal occurrence because it receives almost no <br /> revenues during August. The decrease in the Capital Reserve <br /> Fund was the result of expenditures on Albert Harris. The Electric <br /> ($305,947) and Refuse ($236,832) Funds both reported large <br /> increases. This was the result of strong revenue collections and <br /> very small expenditures. Major expenditures in both of these funds <br /> are transfers to other funds. Transfers are not normally completed <br /> until the end of each quarter thus artificially minimizing <br /> expenditures until that time. Overall seven funds improved, eight <br /> declined and one remained unchanged." Council Member Roop <br /> asked, "At the end of the process, what will be with the CD that was <br /> withdrawn from?" Mr. Bartlett replied, "What is now borrowed for <br /> school improvements this year could be refinanced and used for <br /> more community improvements, arbitrage. Also, no CD has been <br /> cashed." He added, "1 look closely at cash flow with the City <br /> Treasurer." <br />Jerry Brock, Chief of Fire - "The Regional Fire School will be held October <br /> '16-'17, '1999, at the Martinsville High School and the DuPont <br /> Training Center. We have '177 pre-registered and expect <br /> approximately 200. Regarding the grant from the Virginia <br /> Emergency Medical Services, we appeared before the area council <br /> and received the highest score that they can give. Also, the Fire <br /> Department received a Life Achievement Award from the <br /> Residential Fire Safety Institute for having no fatalities in '1998. <br /> Only '17 departments received this award statewide and only 903 <br /> nation-wide." <br /> <br />Council Member Roop stated, "Hurricane Floyd did tremendous damage to the <br /> <br />City of Franklin, Virginia. The City's working with the Red Cross. 100% of donations <br /> <br />will be sent to Franklin. Some Electrical Department employees are working in Franklin. <br /> <br />The City Employees are conducting a drive for cleaning supplies, food, and other non- <br /> <br />perishable items." <br /> <br />Dewey Cashwell, Assistant City Manager, stated, 'q'he Mayor of Emporia, <br /> <br />Virginia, has invited the City of Martinsville to participate in the "Virginians for Virginians" <br /> <br />program. Local elected officials would visit the other at least once." Council Member <br /> <br /> <br />