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40 <br />COUNCIL MEETING MAY 26, 1992 <br />3. The State has reduced aids to municipalities. <br />4. General Fund balance increased approximately $95,000.00 to <br />approximately $1,200,000.00. Mr. Espe said that he concurs <br />with the City position of generating fund balance reserves. <br />5. Mr. Espe noted that the Sewer and Water Utility Fund <br />continues to see losses. However, this trend should change <br />as the utility system expands. <br />Mayor Reinert noted that the Annual Financial Report and the <br />Management Report are available for inspection by the public and <br />encouraged all those with questions to contact the city hall. <br />Mr. Schumacher explained that these two (2) reports are the <br />"bible" the City lives by. He noted that all funds are stronger <br />this year except for the Sewer and Water Utility Fund. The City <br />Council will monitor this fund. <br />Mayor Reinert thanked Mr. Espe for attending this evening. <br />Council Member Neal moved to accept the 1991 Annual Financial <br />Report and the Management Report as presented. Council Member <br />Elliott seconded the motion. Motion carried unanimously. <br />Council Member Bergeson noted that several suggestions were made <br />by the auditor. He asked that Mr. Schumacher report on whether <br />he agrees with the suggestions and how long it will take to <br />implement response to them. Mayor Reinert explained that this is <br />usually done prior to preparing the following years budget. <br />The City Council took a five (5) minute recess at 8:58 P.M. <br />PUBLIC HEARING, SHORES OF MARSHAN LAKE, PUBLIC IMPROVEMENTS <br />Mr. Schneider explained that this plat is located on Lake Drive <br />in the area where Forjay Green Houses operated. A feasibility <br />report was prepared by TKDA. The subdivision consists of 54 lots <br />and the estimated cost of the improvements is $857,549.46 which <br />would be assessed entirely to the developer of the subdivision. <br />Mayor Reinert opened the public hearing at 9:05 P.M. <br />Mr. John Powell, TKDA used the overhead projector and outlined <br />the improvements proposed for this subdivision. He noted that <br />utilities will be extended from the Wenzel Farms area and a <br />temporary lift station will be constructed near the southwestern <br />portion of the subdivision. Mr. Powell also noted that the water <br />line scheduled to be constructed along Lake Drive will be a 12 <br />inch line that can be extended north when other property is <br />PAGE 11 <br />