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City Council Study Session Meeting Minutes May 8, 2001 Page 8 • 1 Budgetary comparisons in the financial statements and must include both the 2 original budgets as well as amended budgets, a reconciliation between the fund- i basis and the government-wide financial statements, and other types of financial 4 data required by previous GASB pronouncements. 5 Mr. Bonniwell stated that the requirements of this statement are effective in three phases based 6 on a government's total annual revenues in the first fiscal year ending after June 15,1999. He 7 indicated that earlier implementation of this Statement was encouraged but not required. 8 The Council discussed the items reviewed by Mr. Bonniwell and thanked him for coming. 9 VI. REVIEW ITEMS. 10 Mayor Cavanaugh mentioned the Stonehouse and the rumors of closing it down. The Council 11 discussed the rumors, the pull-tabs, and the Sports Boosters. Mayor Cavanaugh indicated that he 12 would like the City Council to determine a process by which it is decided to shut down the 13 Stonehouse, in order to prevent them from being forced to do so in an unprepared manner. 14 City Manager Momson recommended that the appropriate people from the Stonehouse and 15 Sports Boosters be invited to the next City Council Study Session in June. *6 Mr. Mornson reviewed a request for the Concert Series to be given some grant money. 17 Councilmember Hodson recommended that the Concert Series be given a one-time $2,000 grant. 18 The Council agreed. 19 Motion by Hodson, second by Sparks, to give the Concert Series a one-time$2,000 grant. 20 Motion carried unanimously. 21 Councilmember Horst stated that there was a request for new carpeting in the Community 22 Service classrooms. He recommended that the Council approve a $3,000 budget for the carpet. 23 Motion by Horst, second by Sparks to give $3,000 toward the new carpet for the Community 24 Service classrooms. 25 Motion carried 4-1. Councilmember Thuesen abstained. 26 VII. INFORMATION AND ANNOUNCEMENTS. 27 Councilmember Hodson mentioned the annual Village Gardeners Sale that would take place next 28 week. 29 Councilmember Sparks mentioned the series of entertainment that will be happening in the fall 30 over at the High School in October. She stated that tickets needed to be purchased by May 25`h for the fall entertainment.