WWW.THESIS.DISLIB.INFO
FREE ELECTRONIC LIBRARY - Online materials, documents
 
<< HOME
CONTACTS



Pages:     | 1 ||

«Present: Councilman Dwight Clark, Chair Councilman Dave Tadych Councilman Tom Henderson Also Present: Mayor Sutherland, Finance Director Mahoney, ...»

-- [ Page 2 ] --

Minutes of a Meeting of Finance Committee January 13, 2014 Bay Family Service additional amount for 2013 may reflect the contract for the special speaker that was brought in to address the public regarding substance abuse. The city’s share of the contract is $40,000 per year. Mr. Koomar will confirm actual contract amount.

Equipment replacement for Police and Fire Departments still need to be finalized.

Police and Fire Pension numbers for 2014 include the new hires for both departments. It also includes the new payment schedule which requires a 13 month payment schedule per calendar year for the next two years, due to a change from quarterly payments to monthly payments required by the Police and Fire Pension Funds. The year 2014 is the second year of a three year requirement for this additional payment.

The Accrued Benefits Fund is projecting a reduction from last year’s expenses. Mr. Clark noted that there were many retirements and resignations in 2013. Two percent of municipal income tax goes to fund the Accrued Benefits Fund, in the amount of $110,000 to $115,000. Mrs. Mahoney also budgeted a $30,000 transfer from the General Fund.

The Community Band raises their own money, but they have asked for funding from the city this year as well. That has not been incorporated into the 2014 budget.

The General Bond Retirement Fund factors in the amount of $10,000 for the cost of issuing a note. The bond principal of $2,510,000.00 represents part of the initial note that will be done for 2014, including refinancing of the $ 1 million balance for 2013 borrowings plus 2014’s capital needs. Because of paying some debt down, the interest amount is reduced for 2014. This will tie out to the debt report that will be produced by Mrs. Mahoney for the next Finance Committee meeting.

Tree Removal of $20,000 is private property tree removal that is paid by the city and repaid by the residents, or certified to their property tax bill. Mrs. Mahoney would like to add an administrative fee for this service.

The Public Improvement Fund of $344,000 ties into the capital budget for 2014. The Municipal Building Improvements Fund reflects the $215,000 to be transferred out to fund public improvement projects for buildings. The $90,900.00 budgeted for pool improvements/aquatic repairs are for the renovation of the slide and painting of equipment.

Sewer Fund – Total Revenue for the Sewer Fund is budgeted at $2,573,200 for 2014. Total expenses are estimated at $3,033,653. There remains a budget deficit of $460,453. There is cash in the fund which would reduce the negative figure to $330,000. Mr. Clark noted that CT Consultants must be relied on heavily to review the report from the Rocky River Wastewater Treatment Plant. Mayor Sutherland stated that she is still waiting for a meeting to be set up.

There are labor negotiations going on currently with the union at the Rocky River Wastewater Treatment Plant. In initial conversations with Jeff Harrington, the plant superintendent, it was indicated that the company that did the strength and flow study does have all the documentation for the monitors. Mr. Clark commented that the committee would like to exhaust every option Minutes of a Meeting of Finance Committee January 13, 2014 they can before going to Plan B. If Plan B is required, a public meeting will be held with CT Consultants present to address the residents. The Mayor will keep the committee apprised.

Mayor Sutherland noted that the Sewer Fund is an enterprise account that cannot be in a deficit position at the end of the year.

Mr. Lee asked what the cost for the Rocky River Wastewater Treatment Plant was in 2013. The expenses were $625,830. The amount of $902,900 is budget for 2014, according to the latest estimate of Ray Thomas of Rocky River.

The Health Insurance Fund expense for 2013 was $1,300,686. The amount of $1,735,970 is budgeted for 2014. Mr. Clark stated that he is at a loss to understand why such a large increase is being budgeted going forward. This will be discussed further at the next Finance Committee meeting. Mrs. Mahoney stated that she is meeting with Medical Mutual this week and will have more information. Mr. Clark noted that the performance of the fund was better this year than the 2013 budget. The expense amount of $1,461.000 was budgeted in 2013. The amount of $1,300,686 was expended. This favorable $130,000 variance increased the balance in the Health Insurance Fund to $930,000. Mrs. Mahoney stated that with any new hires she budgets a full family coverage, even though the employee could only require single coverage.

Mr. Lee asked if the administration charge is a per employee charge or per claim charge. Mrs.

Mahoney stated that it is about $200 per employee, per month. Mr. Lee asked if the addition of six new employees is going to take us from $198,000 to $240,000. Mrs. Mahoney stated that the increase shown is too high and will be corrected.

Mr. Clark thanked everyone for their participation.

The next Finance Committee meeting will include a year in review for 2013. A pro forma debt report will also be submitted. Health Insurance will also be discussed. Mr. Tadych stated that he assumes the budget draft will be rewritten with the corrections.

The next Finance Committee meeting will be held Monday, January 27, 2014 at 5:30 p.m.

There being no further business to discuss the meeting adjourned at 7:30 p.m.

–  –  –



Pages:     | 1 ||


Similar works:

«Policy Directive Ministry of Health, NSW 73 Miller Street North Sydney NSW 2060 Locked Mail Bag 961 North Sydney NSW 2059 Telephone (02) 9391 9000 Fax (02) 9391 9101 http://www.health.nsw.gov.au/policies/ space space ICAC Report: Cash Handling in Public Hospitals space Document Number PD2005_054 Publication date 25-Jan-2005 Functional Sub group Corporate Administration Accounting Summary Checks and controls and management for cash handling from such things as vendor machines, car parks etc....»

«The Political Impact of International Migration on Sending Countries Devesh Kapur SSRC Migration & Development Conference Paper No. 14 “Migration and Development: Future Directions for Research and Policy” 28 February – 1 March 2008 | New York, NY Social Science Research Council One Pierrepont Plaza, 15th Floor Brooklyn, NY 11201 P: +1 212 377 2700 F: +1 212 377 2727 migration@ssrc.org [Eda Pepi] [Error! Unknown document property name.: 3/16/2009 10:04 AM] [Error! Unknown document...»

«IS CRIME CONTAGIOUS? Jens Ludwig and Jeffrey R. Kling Journal of Law and Economics, forthcoming July 2006 * Georgetown University and NBER; The Brookings Institution and NBER Support for this research was provided by grants from the National Science Foundation to the National Bureau of Economic Research (9876337 and 0091854) and the National Consortium on Violence Research (9513040), as well as by the U.S. Department of Housing and Urban Development, the National Institute of Child Health and...»

«ODISHA DISTRICT GAZETTEERS BARGARH GOPABANDHU ACADEMY OF ADMINISTRATION [GAZETTEERS UNIT] GENERAL ADMINISTRATION DEPARTMENT GOVERNMENT OF ODISHA ODISHA DISTRICT GAZETTEERS BARGARH DR. TARADATT, IAS CHIEF EDITOR, GAZETTEERS & DIRECTOR GENERAL, TRAINING COORDINATION GOPABANDHU ACADEMY OF ADMINISTRATION [GAZETTEERS UNIT] GENERAL ADMINISTRATION DEPARTMENT GOVERNMENT OF ODISHA ii iii PREFACE The Gazetteer is an authoritative document that describes a District in all its hues–the economy, society,...»

«An Economic and Impact Analysis of the Coldwater Mountain Bike Trail Prepared by: Dr. Benjamin B. Boozer Assistant Professor Jacksonville State University Mr. Mike Self Research Analyst Jacksonville State University Prepared for Mr. Joseph Jankoski, Executive Director Calhoun County Community Development Corporation Through: Center for Economic Development Jacksonville State University 700 Pelham Road North Jacksonville, Alabama 36265-1602 July 2012 Special appreciation goes to Gayle Macolly...»

«An Assessment of an Interactive Online Training Course at a Placement and Business Service by Shelley Wynter-Wellington An Applied Dissertation Submitted to the Fischler School of Education and Human Services in Partial Fulfillment of the Requirements for the Degree of Doctor of Education Nova Southeastern University Approval Page This applied dissertation was submitted by Shelley Wynter-Wellington under the direction of the persons listed below. It was submitted to the Fischler School of...»





 
<<  HOME   |    CONTACTS
2017 www.thesis.dislib.info - Online materials, documents

Materials of this site are available for review, all rights belong to their respective owners.
If you do not agree with the fact that your material is placed on this site, please, email us, we will within 1-2 business days delete him.