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HomeMy WebLinkAbout1989-02-14 - City Commission Budget Workshop Meeting Minutes269 rgM9s 7525 NORTHWEST 88TH AVENUE TAMARAC, FLORIDA 33321-2401 r 3U n�f"�f3 TELEPHONE (305) 722.5900 /alr�ilnl� ��L��tk`��C3V February 8, 1989 NOTICE OF CITY COUNCIL BUDGET WORKSHOP MEETING There will be a City Council Budget. Workshop Meeting on Tuesday, February 14,. 1989 at 3:00 P.M. in Conference Room #1 (Room 103), City Clerk's Office, Tamarac, City Hall, 7525 N.W. 88th Avenue, Tamarac, Florida. All meetings are open to the public. L] CAE/gt f CAROL A. EVANS CITY CLERK AN EQUAL OPPORTUNITY EMPLOYER POLICY OF NONDISCRIMINATION ON THE BASIS OF HANDICAPPED STATUS CITY OF TAMARAC CITY COUNCIL WORKSHOP MEETING TUESDAY, FEBRUARY 14, 1989 CALL TO ORDER: Mayor Abramowitz called this meeting to Order on Tuesday, February 14, 1989 at 3:00 P.M. in Conference Room #1 (City Clerk's Office). RESENT: Mayor Norman Abramowitz Vice Mayor Jack Stelzer Councilman Dr. H. Larry Bender Councilman Bruce Hoffman Councilman Henry Rohr ALSO PRESENT: John P. Kelly, City Manager Ken Burroughs, Finance Director Robert J. Foy, Director of Utilities/ Engineering Robert Hoyt, Deputy Finance Director Pauline Walaszek, Special Services Secretary City Manager Kelly said the purpose of this meeting was to address the concern regarding the surplus in the Utilities Budget. He said when he was hired as the City Manager in July, 1986, he was asked by the City Council to closely monitor the Utilities Department. He said when Ken Burroughs was hired as the Finance Director, he asked Mr. Burroughs to straighten out the Utilities Account which has been done very effectively. City Manager Kelly said Mr. Burroughs corrected some of the concerns expressed during the Budget process. He said the Budget format presented last year allowed for interpretations that there was a surplus in the Utilities Fund. He said Mr. Burroughs broke down the accounts specifically which allows the Budget to be more understandable. City Manager Kelly said the past Budgets were too consolidated; however, the forthcoming Budgets would be identifying the Funds more specifically. He said the surplus identified in the present Budget was under one million dollars. Referring to the Reports submitted to the City Council, (SEE ATTACHMENTS), City Manager Kelly said there was $1,496,390.00 on hand; however, when $500,000.00 transfer from the Utilities Fund to the General Fund was deducted, the amount was approximately $996,390.00. At 3:05 P.M., City Attorney Doody ENTERED the meeting. City Manager Kelly said the total assets for the current year were $46,000,000.00, which was the operation of the Utilities Department. He said the total Operating Budget for the year would be approximately $20,000,000.00; therefore, with this type of money requirement, it was vital to have and anticipate some surplus. He said if there was no surplus in the Utilities Budget, he would be very upset because it was imperative that a surplus existed. Page 1 2/14/89 City Manager Kelly said one million dollars was barely adequate as a surplus because of the anticipated expenditures in the future that would require the City to have the money on hand. He recommended that the City Council consider no more reductions or transfers from the surplus in the Utilities Fund. At this time, City Manager Kelly announced that Stan Brooks, Representative from Touche Ross, was present. City Manager Kelly said Ken Burroughs and Bob Hoyt have been working diligently on the Utilities Budget and Mr. Brooks was working closely with them to see that the transactions were correct. He said he was very confident that these figures were true and accurate. City Manager Kelly said there was a consolidation of accounts last year and he asked Ken Burroughs to explain the break down of the Accounts.. Ken Burroughs, Finance Director, said the formal Audit Report contained 2 Pages regarding the Utilities Operations, which was a consolidation of 11 Funds that were indicated on the larger Report in a breakdown. He said this year's Report would contain the consolidation as indicated on the smaller Report. Mr. Burroughs said to clarify the reporting process of the Utilities Department, 11 Funds were created on the Report as they appear on the official financial records of the City. Mr. Burroughs said the key to the surplus and operations of the Utilities Department was indicated in the first and fifth columns of the large Report as "Operating and General Reserve Funds". He said the remaining Funds on the Report were restricted Funds and could not be used for operation purposes. He said all of the Funds, except the last three on the large Report, were mandated by the Bond Indenture. Mr. Burroughs said the first column,"Operating Fund", was the nuts and bolts of the Utilities Department. He said the second and third columns, "Bond Service and Reserve", were required to receive the interest and principal transfers from the Operating Fund, pay the amounts to the Bondholders and hold a reserve equal to two years outstanding principal and interest for unexpected problems. Mr. Burroughs said the fourth column, "Renewal and Replacement", was an amount required in the Bond Indenture and an amount set by the Consulting Engineers to meet any unexpected emergency. He said Hazen & Sawyer, Consulting Engineers, have certified that $500,000.00 was the amount that should be maintained in. this Fund. He said if the Funds were used, they had to be replaced in the current or ensuing year. Mr. Burroughs said the fifth column, "General Reserve", was the Fund that received the excess cash available over and above the amount required to be maintained in the Operating Fund. He said the first column, "Equity in Pooled Cash", in the amount of $826,097.00 was the working capital and was required by the Bond Indenture. He said sufficient cash had to be maintained for two Page 2 F1 1 2/14/89 months covering the Operating Expenses. He said the Funds were technically considered surplus; however, it could not be used because it was working capital. Mr. Burroughs said the sixth column, "In Lieu of Taxes", indicated a -0- amount because the Fund was an in and out Account whereby the Bond Indenture allowed the City to collect from the Utility 4% of the prior year's operating revenues to pay to the General Fund in Lieu of Taxes. He said the Utility was owned by the Government which was exempt from paying taxes. Mr. Burroughs said the seventh column, "Contributions In -Aid of Construction", was the Impact Fees collected for ERC's and used to provide services for future connections. Mr. Burroughs said the eighth column, "Construction", was the residual of the proceeds from the last Bond Issue and could only be used for projects of the Bond Issue or those authorized by the City Council. He said the Funds could only be used on Construction Projects and, if there were no projects, the Funds had to be used to retire future Bonds. Mr. Burroughs said the ninth column, "County Square One Debt", was an agreement with Broward County to connect to the North Regional Wastewater Treatment Plant. He said the City had to put monies aside so that in 1991, when the new expanded Plant was built in North Broward, the City would have the same Funds as the other Cities connected to the Plant. He said the amount needed by 1991 was $1,600,000.00 for Tamarac's share of the debt. He said there was approximately $621,000.00 in the Account. Mr. Burroughs said the tenth column, "Grant Replacement", was a contract with the State of Florida's Environmental Protection Agency (EPA) whereby the City had to set aside sufficient funds on an annual basis to accumulate $2,000,000.00 by the year 2001. He said 2001 was the year that the 201 Sewer Program assets would depreciate fully and the City needed an amount in place to replace the facilities. He said this contract was needed before the Grant monies were approved for the City. Mr. Burroughs said the eleventh column, "Sewer C.I.A.C. Bond Service", was an amount authorized or approved by the Bond Attorney whereby the City could use CIAC Funds to help pay the future principal and interest requirements on the sewer portion of the last Bond Issue. He said the monies were transferred from the CIAC Fund into this Fund and annually the monies were transferred to the Bond Service Fund; however, an amount was reserved for the future. He said the CIAC Impact Fees were assisting in augmenting the Debt Service of the last Bond Issue; however, if the monies were not used in this way, the monies would have to be withdrawn from the Operating Fund. He said this Fund relieved $600,000.00 annually from being used from the Operating Fund. Mr. Burroughs said during the year, the Finance Department has worked on this breakdown process to constructively indicate the Funds. He said there were adjustments made which did not affect the surplus; however, the Funds overall were affected. He said Page 3 2/14/89 because of unforeseen matters and a new computer program, the Audit Report would be released in 3 weeks. He said the amount of time estimated to mechanize the Report was incorrect. City Manager Kelly asked Stan Brooks to comment on the Report given by the Finance Department and on any findings by the Audit. Stan Brooks, Representative from Touche Ross, said he was responsible for this year's Audit Engagement. He said the delay in issuing the Financial Statements was not caused by negative reasons. He said there were unforeseen matters and the City adopted a new computer software program for the creation of Financial Statements. Mr. Brooks said the Audit on the Utilities Department was completed and all of the transactions were justified. He said the amount of $1,494,390.00 identified in the Utilities West General Reserve Fund was the appropriate amount. He said the amount in the General Reserve Fund was the amount available after meeting all of the requirements of the Bond Indenture and meeting the two months of Operating Funds available. He said the sum of monies in the General Reserve Fund resulted from sources other than billings to the Utility Users. He said regarding the refunds since 1979, referred to as "PSC Refunds", the City had approximately $420,000.00 surplus and, in 1987, the surplus was transferred from a Liability Fund to a Surplus Fund, and was now part of the $1,494,390.00 surplus. City Manager Kelly said the TUW Budget was a balance/surplus of approximately $1,494,390.00, less the $500,000.00 transfer, leaving the surplus balance at $994,390.00. He said he felt that this was the minimum surplus needed. C/M Hoffman asked if there would be additional surplus accrued next year if the current utility rates remained the same and, if so, how much based upon the present users of the facility. Mr. Burroughs said he has not looked at the end result for September 30, 1989; however, if all of the figures presented in the Budget for Fiscal Year 1988/89 were completely accurate, the City would maintain but not increase the existing surplus. He said primarily in the current year, approximately $1,000,000.00 was being used for capital improvements. He said a surplus would be created if the capital improvements were not done; however, the capital items were constantly needing replacement. Mayor Abramowitz said the City Manager was recently informed that there was consideration in widening Rock Island Road and, if this should occur, Tamarac would need to accumulate funds for this project. He said the City Manager was not informed of this matter in writing; however, he was informed through telephone communications. He said the surplus matter had to be studied carefully to accommodate future projects. C/M Hoffman asked if TUW water and sewer lines would have to be replaced during the widening of Rock Island Road. Page 4 2/14/89 Bob Foy, Director of Utilities/Engineering, said the substandard facilities would have to be replaced. City Manager Kelly said last year during the Town Meeting regarding the Utilities concerns there were discussions regarding the Safe Water Drinking Act. He said it was advised that each year the Environmental Protection Agency set standards and goals regarding the number of contaminants needing identification each year. He said the City recently received correspondence on this matter. Mr. Foy said the correspondence was received on January 18, 1989, concerning a notice that Tamarac must be in compliance by June 1, 1989, to reduce the PH in the sewer and a matter regarding the raw water supply. He said there would be a meeting on Friday, February 17, 1989 regarding these matters and this compliance may require some of the existing surplus to be spent. C/M Rohr said since the matter regarding the surplus in the Utilities Fund became a concern, this was the first time he heard the actual figures in the Fund. He commended Mr. Burroughs and Mr. Hoyt for doing such a good job in creating a Report that could be understood by the average person. Mayor Abramowitz agreed with C/M Rohr and said he understood the Report and appreciated how the Report was presented to the City Council. City Manager Kelly said during the creation of the Report, he would ask the questions that he felt the City Council would ask regarding the surplus. He said he was very pleased with the result of the Report and the general public was in a better position to understand the Report. Mr. Brooks said surplus meant several different things to several different people. He said the surplus that pertained to the Government was different because it pertained to water and sewer involving Bonds. He said the requirements were that the rates were set according to the Bond Indenture. He said this generated cash; however, there were certain restrictions as to what Funds in which the cash would be placed. He said after the rates were set, the cash was set aside and an amount was remaining. He said the amount remaining was the amount that the City Council was dealing with at this time and referred to as "Surplus". V/M Stelzer said the breakdown Report was caused because of his concerns with last year's surplus. He said the figures in the prior Reports were always consolidated; however, now that the breakdown was made, it was easier to see that last year's surplus could not be returned as refunds. He said a lot of the surplus was earmarked for specific Items and could not be used for anything but those Items. Mayor Abramowitz said the breakdown Report cleared up a lot of the concerns. He said if this breakdown was created because of V/M Stelzer's concerns he was very pleased. Mr. Burroughs said the official Report would be consolidated; however, the Finance Department had the capabilities to issue Supplemental Reports in any degree requested. Page 5 2/14/89 C/M Rohr suggested that these Reports be given to the public so that they are aware of the true figures in the surplus matter. V/M Stelzer said the figures shown in the previous Budget's were accurate; however, this Report was a breakdown of those figures. Mayor Abramowitz said this was a general practice in accounting. He said one was a consolidation and one was a refinement. Herman Gross, Resident, asked why the Retained Earnings indicated a negative figure this year when last year there was $8,374,000.00. Mr. Burroughs said the monies were located in the CIAC Fund. He said the Fund equity increased approximately $5,000,000.00; however, in the prior year, the contributions were $403,000.00 and, this year, the contributions were $16,000,000.00. He said there was no money involved and the matter pertained to bookkeeping adjustment. Bob Hoyt, Deputy Finance Director, said these funds were reclassified last year by moving "Contributions In Aid of Construction" in the amount of $8,495,000.00 from "Contributions" in 1986 to "Retained Earnings" in 1987. He said this year, the Funds were reclassified reducing the "Retained Earnings" and increasing the "Contributions In Aid of Construction". He said the current year Funds were $16,860,000.00. Mr. Gross asked if he could reviewed the Worksheet prepared by Touche Ross rather than waste time on discussing this matter and Mr. Brooks said this information would be available for review. Mr. Gross asked if Touche Ross examined the Report and agreed with the projected figures and Mr. Brooks replied, yes. Mr. Gross asked where the explanation of "Unreserved" could be located in the Report. Mr. Brooks said the assets were taken and placed in a manner that was more understandable to the public. He said the sums shown as unreserved or reserved would be restated on the Financial Statements. Joe Schreiber, Resident, asked if the difference of the Fund was moved into Contributions. V/M Stelzer said last year's Report, Page 66, second column, third figure from the bottom, indicated that the Funds for CIAO were placed in the surplus Fund; however, these Funds were located incorrectly; therefore, the Funds along with $4,487,000.00 of current contributions were placed in the "Earnings Fund". He said the recent reclassification indicated all of the CIAC Funds in a "Contribution/Capital Fund" and $10,673,000.00 in surplus was reduced. He said he reviewed this matter and it was correct. Page 6 2/14/89 Mr. Schreiber had concerns with why there was a 16% depreciation in the value of thecapital equipment and V/M Stelzer said the equipment was.accumulated depreciation for 20 years. Abe Garr, Resident, said the Report was very good and understandable. V/M Stelzer said several professionals reviewed the figures and they were correct. He said the reclassification was done only to allow proper understanding of the figures and the surplus available. City Manager Kelly said before the reclassifications began, Mr. Burroughs informed him that the amount in the General Reserve would be no more than 1.5 million dollars. He said the Report indicated that there was $1,494,390.00 which indicated that Mr. Burroughs was familiar with the figures. He said Mr. Burroughs should be commended for doing such a good job. 1 Mr. Burroughs said he was only as successful as his staff allowed him to be and City Manager Kelly said the Finance Department had a very good staff. With no further business, Mayor Abramowitz ADJOURNED this meeting at 3:50 P.M. �J CAROL A. EVAN S, CITY CLERK This public document was promulgated at a cost of $60.60 or $7.58 per copy to inform the general public, public officers and employees of recent opinions and considerations of the City Council of the City of Tamarac. Page 7 ASSETS Current Assets Cash and Cash Equivalents Cash on Hand Equity in Pooled Cash Accounts Receivable Accounts Receivable Interfund Receivables Due from Other Funds Inventories Inventory of Supplies Restricted Assets Cash and Cash Equivalents Cash with Fiscal Agent Equity in Pooled Cash Accounts Receivable Accounts Receivable Accrued Interest Receivable Investments Investments Property, Plant and Equipment Property, Plant and Equipment Land Buildings Improvements Other than Bldos. Equipment Accumulated Depreciation Depreciation -Buildings. Depreciation -Improvements Depreciation -Equipment Other Assets Other Assets CITY COUNCIL WORXSHOP 2ITG. 2/14/69 Pg. 1 CITY OF TAMARAC, FLORIDA UTILITIES WEST ENTERPRISE FUNDS COMBINED BALANCE SHEET September 30, 1988 ------------ Memorandum Only ------------ Enterprise Funds Current Year Prior Year f 450 1 450 t 450 2,320,487 2,320,487 1,136,963 970,627 970,627 1,142,292 - - 70O 36,969 36,969 18,848 8,279 9,279 2,516,963 6,717,589 6,717,589 6,831,533 8,823 8,823 - - - 77,563 2,43,991 2,563,891 3,641,976 488,883 488,983 488,883 479,034 479,034 479,034 33,605,680 33,605,680 26,850,720 1,256,574 1,256,574 1,145,695 (120,976) (120,976) (103,234) (4,993,291) (4,995,291) (3,260,383) (754,588) (754,588) (631,084) Prepaid Expenses - - 17,623 Unaaortized Expenses 3,507,362 3,507,362 1,420,263 ---------------- --------------------- -------------------- TOTAL ASSETS S 46,095,793 8 46,095,793 S 41,774,795 ZZZZZZZZZZZtZZ=LSiC� CZ�,LCRZFSZSZZZZZZZZZ SSSSLS�ZZZZZZStYZ-Zi The recoewyino notes to the financial statements are an integral pmrt of this statement. M H 1 cs'r�r cot�1rcL YaorxsTroP .��. 2/14/89 Pg. 1 CITY OF TAMARAC, FLORIDA UTILITIES WEST ENTERPRISE FUNDS COMBINED BALANCE SHEET September 30, 1998 ------------ Memorandum Only ------------ Enterprise Funds Current Year Prior Year LIABILITIES AND FUND EQUITY LIABILITIES Curr Liab (from Curr Assets) Accounts Payable Vouchers Payable S 286,627 1 286,627 1 - Accounts Payable 41089 41089 120,868 Accrued Payables Accrued Payroll Charges 26,467 26,467 20,354 Accrued Leave Benefits 121,202 121,202 141,287 Curr Liab (from Restr Assets) Accounts Payable Vouchers Payable 6,558 61558 - Accounts Payable 13,813 13,813 702,993 Matured Interest Payable 12,599 12,589 21,402 Deposits Payable Deposits 960,387 - 960,387 896,575 Long -Term Liabilities Bonds Payable Revenue Bonds Payable -Serial 24,380,000 24,380,000 24,775,000 -------------------- .................... .................... TOTAL LIABILITIES 25,811,732 25,811,732 26,678,469 FLW EQUITY Contributed Capital Contributions Contributions 16,860,089 16,860,089 403,779 Retained Earnings Retained Earnings Reserves 51551,538 5,551,538 6,317,604 Retained Earnings (3,640,086) (31640,086) 8,374,943 Retained Earnings Designations 1,512,520 1,512,520 - TOTAL FUND EQUITY 20,294,061 20,284,061 15,096,326 '---------------------------------------- -------------------- TOTAL LIABILITIES AND FUND EQUITY i 46,095,793 f 46,095,793 $ 41,774, M ---s z.....a--s--.------s The accompanying notes to the financial statements are an integral part of this statement. t 2I TY `,-114CIL .-70::::S:I0r' :; 1 c. CITY OF TAMARAC, FLORIDA UTILITIES WEST ENTERPRISE FUNDS COMBINED STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN RETAINED EARNINGS OPERATING REVENUES Charges for Services Physical Enviornment Fees. Miscellaneous Revenues Contributions/Donations Miscellaneous Revenues Total operating revenues OPERATING EXPENSES Administration/Operations Personal Services Current Expenses Water Treatment Plant Personal Services Current Expenses Water Distribution Personal Services Current Expenses Customer Services Personal Services Current Expenses Wastewater Transmission Personal Services Current Expenses Wasttveter Treatment Personal Services Current Expenses Non -Departmental. Current Expenses Depreciation Total operating expenses Operating income Year Ended September 30, 1988 ------------ Memorandum Only ------------ --Enterprise--Funds------- -Enterprise-Funds-- ---- Current -Year ---- -`---- - PriorYear = 8,218,973 $ 8,218,873 f 7,970,934 65,506 65,506 90,637 - 19 --------------------- -----------------•-- ----------8-------------------8-28--3-- ----------- --- 8--590- 519,984 519,984 669,053 173,600 173,600 60,593 502009 502,709 354,899 530,753 530,753 521,626 426,864 426,864 371,295 125,215 125,215 67,720 209,865 209,865 209,729 190,984 190,984 287,439 337,055 337,055 328,452 234,949 234,949 225,057 1,763,842 1,763,842 146,894 772,394 430,406 430,406 124,047 ----------1-------------------1--------- 430- 6,691,094 _--_-----"--_ 6,694,084 ----------- 4,950,628 1,590,295 _-------------- 1,590,295 311101962 NOMpPERATING REVENUES (EXPENSES) Non operating Revenues Intergovernmental Revenues State Grants 102,585 Miscellaneous Revenues 102,585 Interest Earnings 1,090,208 11090,208 the accompanying notes to the financial statements are an integral part of this statement. 446,178 1,337,079 I CITY COUNCIL NORY.5I10P 'ITG. 2/11/89 Pg. 1 11 I 1 f a s CITY OF TAMARAC, FLORIDA UTILITIES WEST ENTERPRISE FUNDS COMBINED STATEMENT OF REVENUES, EXPENDITURES AND CHANGES IN RETAINED EARNINGS Special Assessments Miscellaneous Revenues Nonoperating Expenses U. E. Reimbursables Utilities East Back Charges Non -Departmental Debt Service Total Nonoperatino revenues (expenses) Income before operating transfers OPERATING TRANSFERS Operating Transfers In Operating Transfers In Operating Transfers In Operating Transfers Out Operating Transfer Out Operating Transfers Out Total operating transfers Net Income Retained Earnings/Fund Balance, beginning of rear Year Ended September 30, 1988 ---- - Memorandum Only ----------.- Enterprise Funds Current Year Prior Year _ - _ - = 1,487,350 96,360 96,360 1,051,163 (32,325) (32,325) _ (2,059,424) (2,059,424) (2,089,550) (802,596) (802,596) 2,232,220 787,699 r 787,699 _ 5,343,182 4,097,862 4,097,862 7,472,332 (5,515,296) (5,515,296) --__ (7,988,332) (1,411,434) (1,411,434) ""---" (516,000) (629,735) (629,735) .._-`__0 _ 27,182 4,053,707 4,053,707 9,865,365 Retained Earnings/Fund Balance - ..... ---- -------------------- -""--""---"`----`--- end of rear � 3,423,972 t 3,423,972 f 14,692,547 -=zas_za_c-eszeezaee seas=ee:zaas_zaszes nz _ze�_e - e=- esaszese_ The accompanying notes to the financial statements are an integral part of this statement. -Vll _ wW L t cN 1 p 1 W 1 1 C t C w 1 „ a 1 L t M 1 •+ C 1 2 U 1 i u 1 M � J � C f Y� 4 tl Y h w L V pQ W W � L V N • n�i XuL 1 wsgSi+xr risjS .Non r9 tw°+ PE z1o; 1 11 1111 N M Epp yrg 2 r r q q 1 N i N N + N 11 11 N i n n a 1 M 1 MNN N 1 N N 1 N 1 M N n 1 1 en�v'r� N r ; r 1 N N d / 1 p 1 i 1 M t J 1 N w • 1 M N 1 P � N N t .-1 1 f{1�1�j1 w 11 w ~ 1 n 1 1 w 1 N I NN I NNr 1 M 1 1 ,1 M 1 w N 1 m y N M t � •r w t rl M 1 1 N i M 1 w 1 1 • N t t N t N N N t 1Np/ N t w N 1 yl 1 M N , N • 1 1 N N . 1N1 w tl N N M n x N M 11/ 1y1 w p� ./ r 1•r� � p + 1 w 11 y ;1i no R S _ N t 1 M 1 N M 1 M tt M �yc 4 I .~RS�L �N11 6 u •Y LQ �1 W } � � W I E • A c� 4 Y Y 4 N M M Ri pp Y alb N C i $ p W W G=C In Y O p 4 •�Y W C ce O 4 tlC u yr q M Z 4 7 L q O I• 1 1 ; ; ; 1 A ^ !: : f: • � , N 1 1 1 =1. 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