* This transcript was created by voice-to-text technology. The transcript has not been edited for errors or omissions, it is for reference only and is not the official minutes of the meeting.
          [00:00:13]
          OKAY. 
          GOOD EVENING, EVERYONE. 
          UH, TODAY'S MONDAY, MARCH 21ST, UH, 
          [1. CALL TO ORDER]
CALLED THE CITY COUNCIL SPECIAL MEETING TO ORDER AT 5:30 PM. 
          AND WE DO HAVE A QUORUM OF CITY COUNCIL 
          [(a) Receive a presentation and consider possible action on the Fiscal Year...]
ITEM NUMBER TWO, OUR DISCUSSION AND POSSIBLE ACTION TO A RECEIVE A PRESENTATION IN A CON AND CONSIDER POSSIBLE ACTION ON THE FISCAL YEAR 2021 COMPREHENSIVE ANNUAL FINANCE REPORT. 
          WE HAVE A PRESENTATION BY ELENA PORTIS, OUR DIRECTOR OF FINANCIAL SERVICES. 
          GOOD EVENING, MAYOR AND MEMBERS OF COUNCIL. 
          THIS EVENING, WE HAVE GREG PETERSON WHO IS A PARTNER WITH WEAVER AND TIDWELL, OUR EXTERNAL AUDITOR. 
          HE WILL BE PRESENTING THE ANNUAL CONFERENCE OF FINANCIAL REPORT FOR THE FISCAL YEAR ENDING SEPTEMBER 30TH, 2021. 
          THANK YOU, ELENA. 
          I APPRECIATE, UH, THE MEMBERS OF THE FINANCE COMMITTEE MEETING FOR TAKING THE TIME TO MEET WITH ME, MEET WITH ME AND GO OVER THE REPORT IN GREAT DETAIL. 
          SO, UH, WHAT I'VE PRESENTED HERE TONIGHT IS GOING TO BE A SUMMARIZED VERSION, UH, KIND OF HIT THE HIGH NOTES OF, UH, OF THE RESULTS OF THE AUDITS. 
          AND ALINA IS MY PRESENTATION. 
          OKAY, HERE WE GO. 
          SO OVERVIEW OF THE PRESENTATION, WE'LL TALK ABOUT THE OPINION THAT WE RENDERED ON THE FINANCIAL STATEMENTS. 
          UM, AND THEN WE'LL GO OVER SOME OF THE RESULTS OF THE GOVERNMENTAL FUNDS ENTERPRISE FUNDS. 
          AND THEN WE'LL TAKE A QUICK LOOP QUICK LOOK AT THE, UH, TOTAL, UH, GOVERNMENT WIDE, UH, ASSETS AND LIABILITIES. 
          SO WE CONDUCTED OUR AUDIT IN ACCORDANCE WITH GENERALLY ACCEPTED GOVERNMENT AUDITING STANDARDS, AS WELL AS WE ALSO CONDUCTED OUR AUDIT IN ACCORDANCE WITH UNIFORM GUIDANCE, UH, WHICH IS REQUIRED FOR, UH, THE SINGLE AUDIT PORTION OF OUR AUDIT PROCESS. 
          AND I'M HAPPY TO, UH, REPORT THAT WE ARE ISSUING CLEAN UNMODIFIED OPINIONS ON BOTH THE FINANCIAL STATEMENTS AND THE SINGLE AUDIT. 
          THAT IS THE HIGHEST LEVEL OF ASSURANCE THAT YOU CAN RECEIVE IN AN AUDIT IS AN UNMODIFIED OPINION. 
          WHEN WE CONDUCTED OUR SINGLE AUDIT, WE SELECTED THE CORONA VIRUS RELIEF FUND IS THE FEDERAL PROGRAM TO TEST. 
          AND THAT GAVE US 93% COVERAGE OF YOUR TOTAL FEDERAL EXPENDITURES, WHICH IS ROUGHLY THAT PROGRAM HAD ABOUT $5 MILLION OF FEDERAL EXPENDITURE. 
          SO THAT ONE PROGRAM GAVE US 93% COVERAGE OR TOTAL FEDERAL EXPENDITURES. 
          NEXT WE'LL LOOK AT SOME OF THE RESULTS, UM, THAT ARE WITHIN THE FINANCIAL STATEMENTS. 
          SO HERE, WE'RE LOOKING AT THE GOVERNMENTAL FUND INCOME STATEMENT, AND WE'LL TAKE A LOOK AT THE FIRST COLUMN HERE, WHICH IS THE GENERAL FUND, WHICH IS THE PRIMARY OPERATING FUND OF THE CITY. 
          UH, SO YOU HAD TOTAL REVENUES OF $62.8 MILLION, WHICH WAS A 15% INCREASE OVER THE PRIOR YEAR. 
          MOST OF THAT INCREASE IS DUE TO PROPERTY TAX VALUES INCREASING, UM, AS WELL AS YOU'VE RECEIVED A $5 MILLION OF REVENUES FROM THE COVID PERONA RELIEF FUND THAT WE TESTED AS PART OF OUR SINGLE AUDIT PROCESS. 
          SO THOSE TWO THINGS COMBINED REALLY MADE UP THE LARGEST PORTION OF YOUR INCREASE IN TOTAL GENERAL FUND REVENUES, AND ACTUALLY HAVE TOTAL GENERAL FUND EXPENDITURES OF $53 MILLION. 
          THAT'S ABOUT A 5% INCREASE OVER THE PRIOR YEAR. 
          UH, MOST OF THAT INCREASE IS DUE TO A THREE AND A HALF PERCENT INCREASE IN SALARY RAISES YEAR OVER YEAR. 
          SO THAT WAS THE BIGGEST COMPONENT TO THAT 5% INCREASE IN TOTAL EXPENDITURES. 
          AND ACTUALLY YOU HADN'T THAT'S OTHER FINANCING SOURCES AND USES, UH, WHICH WAS A DECREASE OF $1.2 MILLION NETTING TO A POSITIVE INCREASE IN YOUR GENERAL FUND FUND BALANCE OF $8.4 MILLION, UM, LEADING TO AN ENDING FUND BALANCE OF 35.5 MILLION. 
          SO WHAT WE'D LIKE TO DO IS WE'D LIKE TO LOOK AT THE ENDING FUND BALANCE IN RELATION TO YOUR TOTAL OPERATING EXPENSES. 
          SO FROM CURRENT OPERATIONS, YOUR ENDING FUND BALANCE HAS ABOUT SEVEN MONTHS WORTH OF OPERATING EXPENSES IN IT. 
          SO ASSUMING THAT EXPENDITURES ARE FLAT YEAR OVER YEAR, CONSISTENT YEAR OVER YEAR, YOU HAVE ROUGHLY SEVEN MONTHS OF OPERATIONS IN FUND BALANCE, WHICH IS AGAIN, A VERY HEALTHY POSITION TO BE IN. 
          UM, YOU KNOW, THERE ARE A LOT OF CITIES AND OTHER GOVERNMENTAL ENTITIES STRUGGLE TO, TO HIT THE THREE MONTH MARK AND YOU ARE SITTING AT ROUGHLY ABOUT SEVEN MONTHS. 
          SO, UH, YOU HAVE A VERY, VERY HEALTHY GENERAL FUND FUND BALANCE. 
          NEXT, WE'LL TAKE A LOOK AT YOUR DEBT SERVICE FUND. 
          SO THIS IS THE FUND THAT ACCOUNTS FOR YOUR INS PROPERTY PORTION OF YOUR PROPERTY TAX RATE, AS WELL AS ALL YOUR DEBT SERVICE PAYMENTS. 
          SO YOUR PRINCIPAL AND INTEREST PAYMENTS, YOU HAVE TOTAL REVENUES OF $10.1 MILLION AND ROUGHLY EXPENDITURES OF $10.1 MILLION. 
          UH, YOU HAD A SLIGHT DECREASE IN FUND BALANCE OF APPROXIMATELY $33,000, UH, THAT CAUSED AN ENDING FUND BALANCE OF 6.5 MILLION. 
          NEXT, WE HAVE YOUR CAPITAL PROJECT FUND, 
          [00:05:01]
AND THIS IS THE FUND USE TO ACCOUNT FOR A BOND ISSUANCES. 
          THE MONEY GOES INTO THE CAPITAL PROJECT FUND. 
          IT GETS SPENT DOWN THROUGH CAPITAL IMPROVEMENTS. 
          UH, FOR THE CURRENT YEAR WE HAVE REVENUES OF $9.1 MILLION. 
          UM, THE BIGGEST PIECE OF THIS REVENUE STREAM IS FROM YOUR METRO TAX. 
          UH, YOU ALSO HAVE INTERGOVERNMENTAL REVENUES OF $3.8 MILLION INCLUDED IN THERE IS A $2.8 MILLION CONTRIBUTION FROM FORT BEND COUNTY FOR THE KNIGHT ROAD EXIT LOOKING AT TOTAL EXPENDITURES, YOU HAVE $16 MILLION. 
          AGAIN, THIS IS PRIMARILY COMPRISED OF CAPITAL IMPROVEMENTS. 
          SO THIS WOULD BE ROAD IMPROVEMENTS, BUILDING IMPROVEMENTS, UH, VEHICLE PURCHASES, EQUIPMENT PURCHASES, UM, ARE INCLUDED IN THIS $16 MILLION NUMBER. 
          YOU HAVE YOUR OTHER FINANCING SOURCES AND USES. 
          I JUST WANT TO POINT OUT THAT YOU HAVE SEVEN APPROXIMATELY $7 BILLION IN DEBT ISSUANCE ACTIVITY. 
          UM, THAT'S BECAUSE OF THE 2021 GEO NCO BONDS THAT WERE ISSUED, THOSE GET ACCOUNTED FOR IN THE OTHER FINANCING SECTION. 
          UM, SO THE NET CHANGE IN YOUR FUND BALANCE FOR THE CAPITAL PROJECT FUNDS WAS A POSITIVE 70,000, WHICH RESULTED IN THE ENDING CAPITAL PROJECT FUND BALANCE OF $31 MILLION. 
          SO ESSENTIALLY THAT'S $31 MILLION OF UNSPENT BOND PROCEEDS THAT ARE USED TO FUND FUTURE PROJECTS. 
          NEXT, WE HAVE THE TERSE THREE SANTA FUND. 
          UM, WE HAVE TOTAL REVENUES OF $2.8 MILLION. 
          MOST OF THAT REVENUE IS COMING FROM THE VARIOUS GOVERNMENTAL ENTITIES THAT ARE PARTICIPATING WITHIN THAT TERM ZONE. 
          UM, THAT TERS REVENUE IS USED TO PAY DOWN THE DEBT SERVICE, UM, FROM THE CAPITAL IMPROVEMENTS, THE LONG-TERM FINANCING OF CAPITAL ASSETS THAT ARE ACCOUNTED FOR IN THAT PROJECT. 
          UM, SO YOU CAN SEE, WE HAVE TOTAL REVENUES OF 2.9 MILLION. 
          WE HAVE DEBT SERVICE EXPENDITURES OF $2.1 MILLION. 
          THE NEXT TWO ITEMS ON THAT INCOME STATEMENT, BASICALLY NET. 
          UM, SO WE HAVE SOME LONG-TERM ASSETS THAT ARE BEING FINANCED OF ABOUT $8.5 MILLION. 
          UM, THOSE GET PUT ON THE BOOKS AS CAPITAL OUTLAY AND AS ANOTHER FINANCING SOURCE FOR THE FINANCING PORTION. 
          SO YOU HAVE A TOTAL POSITIVE CHANGE OF $674,000, WHICH INCREASED FUND BALANCE TO $5.8 MILLION. 
          THE NEXT COLUMN, THE NON-MAJOR GOVERNMENTAL FUND COLUMN. 
          SO THAT IS AN AGGREGATION OF ABOUT 20 FUNDS. 
          THOSE 20 FUNDS ARE SMALL. 
          THEY'RE NOT LARGE ENOUGH TO MAKE IT INDIVIDUALLY ON THE FACE OF THE FINANCIAL STATEMENT. 
          SO THEY ALL GET AGGREGATED INTO THIS ONE COLUMN. 
          UM, I CAN SAY THAT MOST OF THIS ACTIVITY ON THE REVENUE SIDE IS FROM YOUR TERMS AND YOUR PITH FUNDS. 
          YOU HAVE SOME GRANT FUNDS ALSO INCLUDED IN THERE. 
          UH, YOUR TOTAL REVENUES ARE 7.7 MILLION TOTAL EXPENDITURES OF 4.9. 
          UM, YOUR OTHER FINANCING SOURCES AND USES NETS 1.6 MILLION CAUSING A POSITIVE CHANGE IN FUND BALANCE OF 4.3 MILLION LEADING TO AN ENDING FUND BALANCE OF $22.5 MILLION. 
          NEXT, WE'LL TAKE A LOOK AT YOUR PROPRIETARY FUND INCOME STATEMENT. 
          SO THIS, THESE ARE YOUR BUSINESS TYPE ACTIVITIES. 
          SO THIS WOULD BE YOUR WATER WASTEWATER FUND, YOUR SURFACE WATER FUND, AND THEN YOUR NON-MAJOR GOVERNMENTAL OR ENTERPRISE ACTIVITIES. 
          AGAIN, WHAT WE DO IS WE AGGREGATE THESE SMALLER FUNDS INTO THIS ONE COLUMN, UM, INCLUDED IN THAT NON-MAJOR IS GOING TO BE YOUR A SOLID WASTE FUND AND YOUR GOLF COURSE FUND. 
          SO GOING OVER TO YOUR WATER AND WASTEWATER FUND, THERE ARE TOTAL REVENUES THERE OF $8.3 MILLION. 
          THAT'S ROUGHLY ABOUT A 17% INCREASE OVER PRIOR YEAR, WHICH IS PRETTY CONSISTENT WITH WHAT WE SAW WITH THE INCREASE IN NUMBER OF CUSTOMERS BEING SERVED. 
          THERE WAS ALSO AN INCREASE ABOUT $1.2 MILLION IN TAP FEES. 
          AND THAT WAS BECAUSE THERE WERE TWO NEW COMMUNITIES THAT KIND OF WENT ONLINE THIS YEAR, UH, DRY CREEK AND PARKS EDGE. 
          SO THOSE TAP FEES WERE ABOUT 1.2 MILLION. 
          NEXT. 
          WE HAVE TOTAL OPERATING EXPENSES OF ABOUT $6.6 MILLION. 
          UM, THERE WAS A $1.2 MILLION INCREASE, UH, YEAR OVER YEAR. 
          AND THAT WAS AGAIN TO SERVICE THE ADDITIONAL CUSTOMERS THAT YOU HAD ALSO TO BUY SOME ADDITIONAL WATER CAPACITY. 
          UM, SO THOSE TWO FACTORS CONTRIBUTED TO YOUR CURRENT INCREASE IN EXPENSES, UM, DOWN IN YOUR, UH, CONTRIBUTIONS AND TRANSFER SECTION. 
          YOU'LL SEE YOU HAVE A CAPITAL CONTRIBUTION OF $1.9 MILLION, AND THAT IS FROM MUD 48 AND 47 FOR, UM, UH, WATER WASTEWATER IMPROVEMENTS. 
          UM, SO ENDING IN YOUR WATER SEWER FUND, YOU HAD A NEGATIVE $2 MILLION CHANGE IN THAT POSITION, UM, RESULTING IN AN ENDING NET POSITION OF 32.5 MILLION BUCKS. 
          NEXT WE'LL LOOK AT YOUR SURFACE WATER TREATMENT, UH, FUND THERE. 
          YOU HAVE APPROXIMATELY $10 MILLION IN REVENUES. 
          THAT'S PRETTY CONSISTENT, PRETTY FLAT YEAR OVER YEAR. 
          UM, WHEN WE MOVED DOWN TO EXPENSES, WE SEE YOUR TOTAL EXPENSES OF $7.1 MILLION. 
          UH, THERE WAS SOME ABOUT TWO, TWO AND A HALF MILLION DOLLAR INCREASE OVER PRIOR YEAR. 
          UM, PART OF THAT IS THERE'S ABOUT A $500,000 INCREASE IN PURCHASE 
          [00:10:01]
OF WATER. 
          AND THEN YOU HAD ANOTHER, UH, YOU HAD, UH, A ONE-TIME PAYMENT OF $2 MILLION, UM, TO PAY FOR SOME, UH, CAPITAL IMPROVEMENTS. 
          SO THAT'S A, THAT WAS A ONE-TIME FEE OF $2 MILLION IT'S INCLUDED IN OPERATING EXPENSE. 
          NEXT YOU HAVE, UM, YOUR NON-OPERATING REVENUES AND EXPENSES, UH, WHICH NET DOWN TO A NEGATIVE $2.1 MILLION, YOUR TRANSFERS IN AND OUT. 
          AND THAT TO A POSITIVE 4.7 RESULTING IN A POSITIVE CHANGE IN NET POSITION OF $5.9 MILLION IN AN ENDING NET POSITION OF 36.7 MILLION. 
          AGAIN, WHEN WE LOOK AT YOUR OTHER NON-MAJOR FUNDS, AGGREGATED TOGETHER, REVENUES ARE RELATIVELY FLAT. 
          THERE WAS ABOUT A 500, $600,000 INCREASE YEAR OVER YEAR, THAT IS IN LARGE PART DUE TO INCREASE REVENUES AND THE GOLF FUND. 
          UM, YOUR EXPENSES WERE RELATIVELY FLAT YEAR OVER YEAR, A SLIGHT INCREASE AGAIN, JUST WITHIN THE, UH, THE GOLF FUND, UH, ALL THAT CONTRIBUTED TO A POSITIVE CHANGE IN YOUR NET POSITION OF $720,000 RESULTING IN A POSITIVE, UH, ENDING NET POSITION OF $320,000. 
          NEXT, WE'LL TAKE A LOOK AT YOUR, UM, THE TOTAL ASSETS OF LONGTERM LIABILITIES OF THE CITY. 
          WHAT WE'LL DO IS WE'LL JUST FOCUS ON THE TOTAL COLUMN ON THE FAR, RIGHT? SO WE HAVE TOTAL CURRENT AND OTHER ASSETS OF $162 MILLION, ABOUT 134 MILLION OF THAT IS IN CASH AND INVESTMENTS. 
          UM, SO A VERY LARGE PORTION OF THOSE CURRENT ASSETS ARE IN CASH AND INVESTMENTS THAT ARE HIGHLY LIQUID. 
          UH, NEXT YOU HAVE CAPITAL ASSETS OF 309 MILLION. 
          SO THAT'S AN AGGREGATE OF ALL THE BUILDINGS, INFRASTRUCTURE VEHICLES, UM, YOU NAME IT, IT'S ALL THOSE LONG-TERM CAPITAL ITEMS INCLUDED IN THEIR NET OF DEPRECIATION AND THEY TOTAL TO $309 MILLION. 
          UM, WE HAVE OTHER LIABILITY OR EXCUSE ME, YEAH. 
          OTHER LIABILITIES OF ABOUT $20.7 MILLION, UH, THAT IS COMPRISED AS ACCOUNTS PAYABLE AND ACCRUED WAGES. 
          UM, THOSE TYPES OF LIABILITIES TYPICALLY HAVE LIKE A 30 DAY BURDEN PERIOD. 
          UM, SO THOSE ARE, UH, WHAT WE'RE LOOKING AT. 
          SO PLENTY OF CASH AND INVESTMENTS AVAILABLE TO PAY THOSE, THOSE CURRENT LIABILITIES. 
          WE HAVE LONG-TERM LIABILITIES OF 242 MILLION. 
          AGAIN, THAT'S COMPRISED LARGELY OF YOUR OUTSTANDING BONDS AND YOUR CONTRACTUAL OBLIGATIONS ALSO INCLUDED IN THAT NUMBER IS YOUR PENSION AND YOUR OPEB PLAN, YOUR HEALTH CARE PLAN FOR YOUR RETIREES, SO THAT THOSE ARE ALL INCLUDED IN THAT A LONG-TERM LIABILITY NUMBER OF 242 MILLION. 
          THEN YOU HAVE ENDING NET POSITION FOR THE TOTAL CITY OF $210 MILLION. 
          I THINK THAT REALLY KIND OF HITS THE HOT POINTS THAT I WANTED TO PRESENT TONIGHT. 
          I'M GOING OVER KIND OF THE RESULTS OF THE AUDIT. 
          AGAIN, I THINK IT WAS A VERY CLEAN AUDIT. 
          UM, ONCE YOU GET UNMODIFIED OPINIONS ON IT, YOU CAN'T REALLY ASK FOR ANYTHING REALLY MORE THAN THAT. 
          UM, I JUST WANT TO SAY THANK YOU TO ELENA AND HER GROUP FOR GETTING US ALL THE INFORMATION THAT WE'VE REQUESTED. 
          IT WAS, IT WAS A LOT OF, IT'S A LOT OF INFORMATION IN AN AUDIT AND THERE WAS GIVEN TO US VERY TIMELY. 
          UH, WE KNOW THAT IF WE HAVE QUESTIONS, WE CAN GO DIRECTLY TO THEM AND THEY WILL ALWAYS HAVE THE ANSWER FOR US. 
          SO WE APPRECIATE ALL THAT, ALL THAT SHE DOES AND HER GROUP. 
          UM, AND I'M HAPPY TO ANSWER ANY QUESTIONS YOU WANT ME TO HAVE ONE? YES, SIR. 
          THE, UH, THE 1.9 THAT YOU TALKED ABOUT FROM MUD 46 AND 47, WAS THAT THE WALK ME INTO THAT AGAIN. 
          UH, SO THAT WAS A CONTRIBUTION FROM THOSE MONTHS FOR SOME CAPITAL IMPROVEMENTS. 
          I BELIEVE IT WAS FOR A WASTEWATER FACILITY OF ABOUT ONE POINT. 
          WAS THAT THE ONE THAT WE, UH, WE COLLECTED BACK EACH CHOICE, THE ONE POINT WAS IT THE CONTRIBUTION FOR THE EXPANSION OF THE MUSTANG BY YOU PLANT? BUT I KNOW THAT SASHA AND TODD ARE HEAVILY INVOLVED IN THAT. 
          SO IF YOU'D LIKE ADDITIONAL INFORMATION, THEY CAN PROVIDE IT, BUT THAT'S A SEPARATE AMOUNT FROM THE AMOUNT THAT YOU'RE REFERRING. 
          OKAY. 
          THANK YOU. 
          ANY OTHER QUESTIONS? THIS WAS PRESENTED BEFORE US, UM, THE FINANCE COMMITTEE TODAY, AND, UM, I WANT TO SAY THANK YOU TO ELENA AND YOUR TEAM FOR, UM, ALL THE WORK THAT YOU DO TO, UH, HAVE A MODIFIABLE UNMODIFIED, UNMODIFIED REPORT, WEIRD, BUT UNMODIFIED REPORT. 
          SO THANK YOU TO YOU AND YOUR TEAM, WHICH IS THE HIGHEST, HIGHEST LEVEL OF ASSURANCE YOU CAN GET. 
          YEAH, THAT'S WHAT HAPPENS WITH YOU? LET ACCOUNTANTS NAME THINGS FROM A FINANCE COMMITTEE. 
          WE DON'T NEED TO AUDIT THE AUDITOR ANYMORE, IS THAT, 
          [00:15:02]
UH, I MEAN TO COUNCIL MEMBER CLOUDERA'S POINT, UM, AND TO YOUR GREG, OUR TEAM'S DOING A GREAT JOB, UM, TO BE RATED AS SUCH SHOWS THE HARD WORK AND THE CONTINUE FOR RUSSIAN AND, AND, AND IMPROVEMENTS THAT WE MAKE TO EVEN BE BETTER. 
          SO I THINK YOU ALL, IS THERE A MOTION TO ACCEPT THE FISCAL YEAR 2021 COMPREHENSIVE ANNUAL FINANCE FINANCIAL REPORT? THE MOOD. 
          SECOND, IT'S BEEN A MOTION BY MAYOR PRO TEM BONEY SECOND BY COUNCIL MEMBER KLAUSER. 
          IS THERE ANY FURTHER DISCUSSION? I JUST WANTED TO CONCUR WITH MY COLLEAGUES AND ALSO SAY THAT, YOU KNOW, IT JUST FEELS GOOD TO KNOW THAT WE HAVE A STRONG FINANCIAL POSITION AND WE'RE NOT GOING TO BE UP IN THE NEWS FOR, YOU KNOW, THINGS THAT MANY OTHER CITIES, UH, GET SLAPPED ON THE WRIST ABOUT. 
          SO THANK YOU AGAIN. 
          UH, ELENA AND FATINA AND TEAM I, THERE ARE NO FURTHER DISCUSSIONS. 
          THOSE IN FAVOR OF THE MOTION, PLEASE SAY, AYE. 
          AYE. 
          THOSE OPPOSED TO THE MOTION PLEASE SAY NO, NO MOTION CARRIES SIX ONE. 
          THANK YOU. 
          THANK YOU. 
          ITEM NUMBER 
          [3. CLOSED EXECUTIVE SESSION]
THREE ARE CLOSED SECRETIVE SESSION. 
          THE TIME IS 5 46. 
          [4. RECONVENE]
THE TIME IS 7:23 PM AND THE CITY COUNCIL. 
          NOW WE'LL RECONVENE INTO OPEN SESSION. 
          THERE'S NO ACTION ITEM NUMBER EIGHT. 
          THERE ARE NO FURTHER BUSINESS HEARING. 
          NO OBJECTIONS. 
          THIS MEETING IS ADJOURNED AT 7:24 PM.
* This transcript was created by voice-to-text technology. The transcript has not been edited for errors or omissions, it is for reference only and is not the official minutes of the meeting.