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Regular City Council Meeting <br />July 14,2003 <br />Page 31 <br /> <br />McCarthy, that the City of Paris not start any new day work that exceeds <br />$25,000.00 for the total project until the policy has been adopted; and that staff <br />be instructed to look at the cost of all items of labor and material and get the <br />best price or fire the contractors on any existing work; and that the City <br />Attorney be instructed to work with the City Manager on a new policy <br />ordinance, or what ever is necessary to stop this for the future; and set down the <br />specifics of what can and what cannot be done. The motion carried 6 ayes, 0 <br />nays. <br /> <br />City Attorney Schenk presented the following petitions for rezoning: Rev. <br />Henry Starks, Lot 18, City Block 259, from a One-Family Dwelling District No. <br />2, to a Multiple Family One zoning; Gary Ensey, Lots 6 & 7 Block E of the <br />East Suburban Estates Addition from Agricultural District to Multiple Family <br />One District. <br /> <br />Mayor Fendley referred the petitions to the Planning and Zoning Commission <br />for their study and recommendation at their meeting scheduled for August 4, <br />2003, and before the City Council August 7, 2003. <br /> <br />Gene Anderson, Director of Finance, came forward to discuss the quarterly <br />financial report. He explained to new Council Members that he gives them <br />information on the key operating funds. Mr. Anderson said he usually states <br />the cash position and in the main operating fund, that being the General Fund, <br />at the end of June 30, 2003, there was $5,968,581.00 in cash and investments. <br />He advised that they normally like to keep a minimum of two months of <br />operating cash balance, three is preferable, but two is minimum, which is <br />$3,578,293.00 and three months operating funds is $5,367,440.00. He said the <br />city was just about where he thinks it needs to be. <br /> <br />He said in the Water and Sewer Fund we have discussed that in detail and at <br />the end of June the city was $1,699,000.00 in the hole. The City Council has <br />already taken action to try to rectify that with the adoption of the rates. The <br />other primary operating funds currently are construction funds, which is money <br /> <br /> <br />