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I . I . - decreasing engineering fees and plan check fees tied to construction and building activity. Director Ponty described two transfers into the general fund: a one-time only payment of - $2.9 million from the Belmont School District for maintenance costs of the Redwood Shores Community Center and park, and revenue from NPDES to reimburse the general fund for this federally mandated program. On the expenditure side, Director Ponty, highlighted the increased expenditures for the Redwood Shores Fire Department; Community Development Department decreased expenditures coincides with the drop off of building activity; Park and Recreation increased expenditures due to the new Red Morton Community Center, Redwood Shores Community Center and more parkIands. Director Ponty said the bottom line, if there were no new revenues or cuts, 1996/97 would result in a $I8K surplus, and 1997/98 would result in a $235K deficit (less than 6/10 of 1 % of the total revenues and transfers into the General Fund.) Director Ponty said the staff would produce a balanced budget for 1997/98 based on Council decisions during the budget process. As the 1997/98 deficit is erased the out year deficits decrease as well. Director Ponty said during the Saturday presentations there will be a direct tie-in to how the budget, at a glance, meets the Council goals and objectives, and further discussion of revenues not discussed tonight. Mayor Hartnett said that "the budget analysis shows in this 2-year budget we will be ~ adopting, that if we adopt it as is that we would be in balance for the first fiscal year and slightly out of balance the second fiscal year. In the budget recommendations to us we are presented options that we can decide on within the next week that will put is in fact in balance ... for that second fiscal year.....In your macro view tonight you are showing us where we would be if we don't make certain policy decisions, but in the reports we have, we have sufficient options presented to us should we choose to select those options to overcome that (deficit) and to in fact, (be) in balance in each year." Director Ponty said "That is correct." Mayor Hartnett added, "If we made no other policy decisions, that does not mean that we are in deficit, in fact we have approximately $4.9 million in reserves....so that we would be nowhere near deficit." Director Ponty said "That is correct," and added that previous Councils had directed staff to maintain that $4.9 million figure in reserve. 2) Presentation of the Human Services Financial Assistance Program recommendation by the Housing and Human Concerns Committee REPORT: Human Services Financial Assistance Supplementary Budget Materials 1996- I 997 MINUTE BOOK N. 54 Page No. 295 - MINUTES JUNE 17, 1996 SPECIAL COUNCIL MEETING PAGE 6