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    Finance Committee
     January 10th, 2012
     Meeting Minutes


Attendees: Joe Maurer, Chair, Wendy Gillund, Committee, Bernice Schreiber, Fiscal Officer, Jonathan Slain, Council, Christine Comstock, Council, Kathleen Hale, Council, Chief Pitts, Lt. Nagle

Meeting Called to Order at 6:00PM

Review of December Financial Statements

The Financial Statement review indicates that Revenues exceeded the budget and prior year by a significant amount.   This was primarily due to RITA  revenues.  Expenses were generally in line or less than the budgeted amounts.  Correspondingly, we exceeded our bottom line budget by approximately $185,000.  $125,000 of this surplus was transferred into the Capital Expenditures and Major Improvements Fund. 

Other Items  
Per Discussion with Regional Income Tax representatives our revenues in 2012 could be substantially less than 2011.  This is reflected in the budget proposed by the Finance Committee.  Finance Committee recommends that the Service Dept. continue with part time employees.  The addition of full time employees and the associated benefits would add a significant burden to the ongoing financial future of the Village. Several items were discussed which will be communicated to the Mayor.     


Meeting adjourned at 7:55PM


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