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Minutes 7-25-96 <br />Page 2 <br />7. DEFERRED MATTERS <br />A. Public Hearing - Fiscal Year 1996-1997 Budget <br />Gillette declared the public hearing open. <br />Ward explained that Jorgensen would discuss revenue <br />aspects of the budget. <br />Jorgensen referenced the submitted budget material, <br />presented an overview of revenue projections, and stated <br />that: there are no major budget changes this year; $5 <br />million is the estimated property tax, current secured; <br />$109,000 currently held by the County to augment ERAF <br />(Educational Revenue Augmentation Fund) will revert back <br />to the District; assessed valuations are up slightly; <br />interest earnings will be similar to last year's; Sports <br />Leagues and Tournaments' revenue has decreased; the <br />Leggett Court grant has increased the Other Government <br />Agencies' revenue category significantly; revenue and <br />expenses are both down slightly; and current revenue is <br />up about $330,000. <br />In response to Gillette's request, Jorgensen said that <br />a graphic comparison of recent years' budgets will be <br />part of the budget adoption package; and in the past few <br />years, revenues and expenditures have changed similarly. <br />As no one was in attendance who wished to address the <br />Board, the public hearing was continued to the next <br />meeting. <br />8. NEW ITEMS <br />A. Approval Of Memorandum Of Understanding Between Hidden <br />Canyon Homeowners Association And The Conejo Recreation <br />And Park District Regarding Assumption Of Maintenance <br />Responsibilities <br />Sorensen recounted the two-year discussions between the <br />homeowners' association and the District, relative to <br />their assumption of maintenance responsibilities for a <br />small parcel of land owned by the District at the <br />northeast corner of Thousand Oaks Blvd. and Via Colinas <br />and their desire to provide landscape treatment <br />consistent with their property on the west side of the <br />entrance to the association. He reviewed provisions of <br />