Present: Jonathan Brand, David Clay, Tom Crady, Bob Grey, John Kalkbrenner, Mickey Munley, Jack Mutti, Todd Reding, Paula Smith, Jim Swartz, Frank Thomas, and Karen Voss.

The meeting was called to order at 3:04 p.m.

The Committee discussed the most current fund budget model, which still projects a deficit of approximately $48,000. In so doing, the Committee discussed those areas in which it may be able to find additional savings. It recognized that making across-the-board reductions is not necessarily the best way to balance the budget. Rather, the Committee hopes to evaluate strategic value of specific programs. Discussion ensued.

In addition, the Committee hopes to find additional savings (beyond balancing the budget) to provide enough flexibility to consider those strategic initiatives that have not yet been incorporated into the base budget.

The Committee agreed to meet again on January 17, 2002, to continue its review of the FY 2003 budget and to schedule monthly meetings. At that time, it will also discuss the written FY 2003 budget proposal, which it will receive next week. The Committee also hopes to discuss the FY 2004 and 2005 budget projections.

The meeting adjourned at 4:20 p.m.