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Finance Committee
March 15th, 2010
Meeting Minutes

Attendees: Joe Maurer, Chair, Wendy Gillund, Committee, Bernice Schreiber, Fiscal Officer, Joe Hudson, Council, John Bourisseau, Council

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 February Financial Statements

The Financial Statement review indicates that revenues for the first two months were lower than the budgeted amount, the reason being significantly lower RITA revenues. It is too early in the year to make any assumptions regarding the entire year, however, the recession of 2008 and 2009 will be having a delayed impact on our revenues for the entire year. Expenses are generally in line with the budgeted amounts.

Review of Insurance Policy

The specifics of the insurance policy were reviewed and discussed. The committee approves the renewal of the policy with minor changes. This will result in a cost savings of about $10,000.

Other Discussion Items

Discussion of Ordinance 2010-07 Authorizing the Mayor to enter into a contract for road salt.

Discussion of Ordinance 2010-10 Authorizing the Mayor to enter into an agreement with the Cuyahoga Regional Information system for a Non-Terminal Service Agreement.

Discussion of a draft of a policy for compensation and re-imbursement of employees when attending seminars. Bernice to finalize the policy for the next meeting.

Meeting adjourned at 8:00PM

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