STORMWATER QUARTERLY REPORT

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Finance Committee

July 14th, 2008

Meeting Minutes

 

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

Dan Tomalin, Clerk/Treasurer

Meeting Called to Order at 6:30PM

Banking Relationship

Presentation by Dell Duncan Pres.& CEO of Ohio Commerce Bank relative to establishing a new banking relationship.

Question & Answer Session with Dell followed. More discussion after Dell left.

Finance Committee recommends that council approve a new banking relationship with Commerce Exchange Bank

Review of Accounts Payable.

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

Review of June Financial Statements.

Discussed various items and received satisfactory answers

Conclusion of Financial Statement review is that overall we are showing positive comparisons of actual to budget. This is primarily due to RITA revenues being in excess of the YTD budget. Because of the nature of the revenues and the manner in which the revenues are received we can not conclude that this trend will be maintained for the entire year.

Other Discussion Items

Will Robinson of PC Alternatives completed his work on the backup and recovery of all police and administrative data. The New system is in place and functioning. Bernice will write a procedure for our manual.

New debris cleanup tool was approved for the service department.

Finance committee recommended at the June meeting that the follow up option which includes subpoena of records for residents not complying with RITA tax filing requirements be implemented. A motion will be made at Council to approve this new procedure.

Revision of the Investment Policy was discussed and will be forwarded to the Law Director for review.

Meeting adjourned at 8:15PM

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