STORMWATER QUARTERLY REPORT

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Finance Committee

January 19th, 2009

Meeting Minutes

 

 

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

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 December Financial Statements

The Financial Statement review indicates that we exceeded the revenue budget by Approx. $180,000 principally due to RITA revenues in excess of budget by $77,000. In addition we received an estate tax settlement of $33,000. Several other smaller items also contributed to the positive revenue comparisons. Actual expenses for the entire year were $23,000 under the budgeted amounts with the Safety, Service and Administrative Departments all recording actual expenses less than budgeted. At the end of the year we had a surplus of approx $263,000. $150,000 0f the surplus was used to establish the Capital Equipment and Major Maintenance Fund. After the transfer we continued to have a surplus in the General Fund of $113,000. I would like to commend all the department heads and committee chairmen for working with Finance to meet and exceed our budget goals for the year 2008.

Other Discussion Items

Discussion of the RITA meeting for delinquent taxpayers held on December 3rd. Bernice had a telephone conversation with a RITA representative that indicated that we would be receiving approx. $29,000.

Discussion of Salt and Haydite for de-icing the roads and the impact on the budget. We discussed passing the ordinance 2009-07 authorizing the purchase of salt through ODOT for the next season.

Meeting adjourned at 8:00PM

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