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July 8, 2004 <br />Page 2 <br />It was moved by Jacobson, seconded by Berger, and carried 5-0, to <br />approve the Consent Calendar as presented. <br />7. DEFERRED MATTERS <br />A. Public Hearing — Fiscal Year 2004-2005 Budget <br />1. Adoption Of Proposed Budget, Resolution Number 070804-A <br />Holt declared the Public Hearing open. <br />Ward stated that the 2004-2005 budget is balanced and based on a 25 <br />percent property tax revenue reduction, due to the anticipated tax shift; the <br />state budget crisis is still not resolved; and most capital projects have been <br />deferred. He commended staff for their team effort on the budget. <br />Lewanda said that the budget has been modified slightly from the one <br />discussed at the June 24 Board meeting. She invited questions. <br />In response to Board inquiries, Ward said that it is the non -enterprise special <br />districts that will suffer a larger percentage shift from the anticipated tax shift, <br />and Conejo Valley Unified School District has deferred participation in the <br />Outreach Program. <br />Holt stated Board appreciation for staff budgetary efforts. <br />Holt closed the Public Hearing. <br />It was moved by Gibson, seconded by Lange, and carried 5-0 to <br />adopt Resolution Number 070804-A approving the fiscal year 2004- <br />2005 budgets for all funds and policy matters contained in the body <br />of and attachments to submitted memorandum; that it be read in title <br />only and all other readings be waived. <br />8. NEW ITEMS <br />None <br />