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75 . <br /> March I,1978 <br /> The regular meeting of the Everett City Council was called to order at <br /> 8:45 am,March 1,1978 in the Hearing Room of the County Courthouse with <br /> President Gipson presiding and all councilmen in attendance except Council- <br /> man Langus. <br /> 1978 CASH FORWARD PROJECTS <br /> Bill Cushman,Finance Director,presented the following report to the council: <br /> Foliating the close of the 1977 fiscal year,Finance identified that the <br /> • <br /> general government departments experienced a level of expenditure which <br /> averaged 998 of the budgeted appropriations. At the same time,the rwvenues <br /> of the departments approached 1046. <br /> cTah::trzszriotprh2:tImorth:h:cymittmo,$e!:36,000 of available cash dat <br /> • <br /> Of the$716,000 carried forward,we have suggested two iioithtiows.Plaved <br /> upon its disbursal. First,in recognition of the loss of sales tax revenue <br /> from food,we can anticipate a loss of$100,000. Secondly,we recommend a <br /> cash flow reserve of$100,000 be held in the general fund for the purpose <br /> of meeting daily operating expenses and thereby relieve the pressure for <br /> inter..loan activity. Thus,we recommend the following use of the cash <br /> available: <br /> Total available 0716,000 <br /> Less food tax short fall 100,000 <br /> Less cash flow reserve 100,000 <br /> Net available for <br /> 1978 projects $516,000 <br />,—, gtotTggt:=°:mgt tIg='Wtggg:gagotgg:!'e'"v"a''e"d a 1i" <br /> Because the cost of all projects submitted for review far exceeded the . <br /> money available,they were set forth during an administrative review in a <br /> suggested order'of priority. The following list represents the first 15 . <br /> items that qualified within the limits of$516,000. <br /> 1. Study of City-School Transit Consolidation 0 1,000 <br /> 2. Silver Lake Matching Funds 13,500 • <br /> 3. Silver Lake Road Vacation 43,000 <br /> 4. Everpark 1977 Operating Deficit 12,100 <br /> • <br /> 5. Everparlt 1978 Operating Deficit 39,500 <br /> 6, CBD Parking Study <br /> 7. Maple Heights Bridge 206,000 <br /> 8. Merril Ring Bridge . 15,000 . <br /> 9. Evergreen Way Project 100,000 <br /> 10.Traffic Signals 14 projects) 8,000 <br /> 11.Human Needs 15,000 <br /> 12.Library Second Floor 5,000 <br /> 13.Everpark Repair <br /> 11 25,000 <br /> 14.Park Construction neficit 28,400 <br /> 3,500 <br /> 5516,000 <br /> ::=1:c7=7=1 gglrii::0=ItIT'$:fi,gN:gutlt gge12.2:°1978. <br /> .•. <br />