STORMWATER QUARTERLY REPORT

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Finance Committee

December 15th, 2008

 

Meeting Minutes

Attendees: Joe Maurer, Chair, Joe Hudson,Committee, Bernice Schreiber,Finance Mgr., George Skipper, Council, John Bourisseau, Council, Wendy Gillund, Council, Leonard Spremulli, Mayor, Chief Pitts, Joe Sciangula,

Meeting Called to Order at 7:00PM

Review of Accounts Payable.

Discussion of various items on the list with satisfactory answers to all questions.

Payables Approved by the Finance Committee for submission to Council.

Review of November Financial Statements.

Discussed various items and received satisfactory answers to all questions

Conclusion of Financial Statement review is that overall we are showing positive comparisons of actual to budget. This as in previous months is primarily due to RITA revenues being in excess of the YTD budget. It appears that the surplus in the General Fund for the entire year will approximate $100,000 to $150,000. In addition, the Finance Committee recommends that $150,000 be transferred to a Capital Equipment and Major Maintenance Fund that will be established by Ordinance.

Budget Discussion

Discussion of various budget items most significant being the need to reduce RITA revenues to $860,000 in anticipation of a weak economy in 2009. A draft of the final 2009 budget was reviewed with some minor adjustments. The budget with the minor modifications was approved and will be submitted to council for approval at the December meeting. A general fund surplus of 40,000 to $50,000 is anticipated in 2009.

Other Discussion Items

Discussion of salt vs. haydite for de-icing roads

Discussion of the RITA meeting for delinquent taxpayers. No report from RITA has been received.

Tony Discenza of Waste Management made a presentation of the recently received Waste Management bid for rubbish removal and recycling

Discussion of the contract with Chagrin Falls for billing of ambulance services to Medicare

Bernice is following up on the JETA deficiency in their $10,000 bond requirement.

Meeting adjourned at 8:20PM

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