Bentleyville Finance Committee
July 16, 2014 - Meeting Minutes
Attendees: Kathleen Hale, Finance Committee; Bernice Schreiber, Fiscal Officer
John Bourisseau, Council President; Christine Comstock, Council; Kathleen Esposito, Council; Ken Kvacek, Council
Meeting called to order at 6:01 P.M.
Approval of Minutes of meeting Finance Committee of June 18, 2014: Unanimously approved
Accounts Payable: Reviewed and unanimously recommended for payment.
Fiscal officer is concerned that the bill sent by Great Lakes Petroleum is still low.
We want to do an analysis of police enforcement to see what costs are of increased ticket writing really are so we can better understand the numbers. When was the schedule of fines last updated? We need to ask the law director.
Review of Financial Statements:
June YTD, we are $45,000 worse than budget thru because of lower RITA revenue than budgeted; however, in July the trend improves with RITA revenue that was $85,000 higher than expected. Our expenses are $16,000 lower than we had budgeted YTD. Taken together, the 45,000 revenue deficit, coupled with the $16,000 expense deficit, net the village to a position of being $29,000 worse than budgeted overall. We are in the position of the Village finances for 2014 being net positive by $58,000 total YTD. However, by end of July, this position should dramatically improve by an estimated $57,000.
Finance Committee Member Hale wants us to consider ways to raise our revenue. Different ways discussed include going to the voters to raise taxes or reducing the credit residents currently receive towards RITA taxes, which would grow our revenue an estimated $150,000 to $175,000 per year (which would not require going to voters).
Finance Committee recommends that we retain service department personnel by potentially creating a full time position or offering more pay and/or health insurance.
Ordinances are all recommended for approval.
Meeting adjourned at 6:50 P.M.
Minutes submitted by Jonathan Slain, Finance Committee Chair
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