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Regular City Council Meeting February 14, 2005 Page 9 Discussion of the pension fund. Mayor Fendley inquired as to whether anyone had anything else for Tom. Councilman Bell-Motion to Accept the Audit Report for fiscal year 2003-2004. Councilman Poston-second. Motion carried - 7 ayes, 0 nays. B.Presentation by City Manager regarding status of City finances. Tony Williams referred the City Council to page 16 of the Audit Report - Statement of Revenues and Expenditures and Changes in Fund Balance for the Governmental Funds. The revenues were $22,928,420.00 and the total expenditures were $26,000,000.00 and it clearly shows you that is a deficiency of revenues to expenses of $3,551,765.00. On page 17, you transferred in from other sources, $1,322,568.00 so that you ended the year down $2,229,197.00. You started the year with a fund balance of $5,720,370.00 and you ended the year with $3,890,736.00. The term fund balance is not cash balance, it is not bank balance - it is more on the line of equity, because there are receivables in that number. In the water and sewer fund which is the operating account, the payable is in overdraft of $2,397,610.00. The insurance trust fund is in an overdraft of $688,379.00. The last 3 years you have spent more than you took in, to the tune of $4,478,546.00. Tony informed the City Council that the City has depleted its reserves and stated that anyone in any kind of business needs a reasonable level of reserves. No entity can survive by consistently spending more than you earn. To correct the problem is fairly simple, you either raise your income or you reduce your expenses. Tony is going to put a plan together in the next couple of weeks to reduce expenses and present it to the City Council. 11.Consideration of and action on the following Ordinances: ORDINANCE NO. 2005-006: AN ORDINANCE OF THE CITY COUNCIL OF THE CITY OF PARIS, TEXAS, AMENDING CHAPTER 14, ARTICLE II, DIVISION 2, SECTION 14-34(a) OF THE CODE OF ORDINANCES OF THE CITY OF PARIS TO INCREASE THE ANNUAL PERMIT FEE FOR FOOD ESTABLISHMENTS; CREATING A NEW SUB-SECTION (b) THERETO ESTABLISHING A PERMIT FEE FOR TEMPORARY FOOD ESTABLISHMENTS; REVISING CURRENT SUB-SECTION (b) and (c) TO (c) AND (d); AMENDING CHAPTER 14, ARTICLE II, DIVISION 3, SECTION 14-51 THROUGH 14-55 OF THE CODE OF ORDINANCES OF THE CITY OF PARIS TO PROVIDE FOR A FOOD HYGIENE CERTIFICATE RATHER THAN A FOOD HYGIENE DECAL AND TO INCREASE THE ANNUAL FEE FOR FOOD HYGIENE TRAINING; PROVIDING A REPEALER; MAKING OTHER FINDINGS AND PROVISIONS RELATED TO THE SUBJECT; AND