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<br />37f <br /> <br />I <br /> <br />The General Fund had a cash reserve at 12/31/77 of approximately $340,000. <br /> <br />The council has designated $100,000 of the $340,000 cash reserve as a contingency <br /> <br />for an anticipated Utility Fund deficit, leaving an unencumbered cash reserve <br /> <br />of $240,000 in the General Fund. <br /> <br />The Utility Fund Operations resulted in a deficit of $44,194 in fiscal <br /> <br />year 76/77. A transfer has not been made yet from the General Fund to the <br /> <br />Utility Fund for this deficit. In addition the combined cash reserves for debt <br /> <br />Service in the Utility Fund were $96,204 which was $54,796 less than the <br /> <br />requirements of the Series 1951 and 1951-A Bonds, and the 1968 Junior Lien <br /> <br />Revenue Bonds. <br /> <br />Total Revenues received from Revenue Sharing as of 9/30/77 were $2,037,251 <br /> <br />with expenditures of $1,871,352 leaving a balance of $165,89.9. This entire <br /> <br />III amount has been appropriated for specific expenditures. <br /> <br />The Interest and Sinking Fund for general obligations had a reserve ba.lance <br /> <br />of $160,301 which included U.S. Treasury Bonds for $69,000 and City of San <br /> <br />Marcos 1956 Street Improvement Bonds of $61,000. <br /> <br />The Cemetary Perpetual Care Fund had Certificates of Deposit of $52,629 <br /> <br />and U.S. Government Securities of $108,774. Of the Certificates of Deposit, <br /> <br />$24,882 matured on 11/14/77 and was converted into a U.S. Treasury Note. 'rhe <br /> <br />remaining Certificates of Deposit in the amount of $15,000 and $12,747 will <br /> <br />be converted into U.S. Treasury Notes upon maturity on 11/14/79 and 9/28/78 <br /> <br />respectively. Cash on deposit was $4950. <br /> <br />I <br />