May 15, 2012
Attendees: Joe Maurer, Chair, Jonathan Slain, Committee, Bernice Schreiber, Fiscal Officer, Wendy Gillund, Council, Christine Comstock, Council, Kathleen Hale, Council,
Meeting Called to Order at 6;30PM
The accounts payable listing was reviewed and approved for payment. Several questions were presented and satisfactory answers were provided by the fiscal officer.
Review of April Financial Statements
The Financial Statement review indicates that revenues were in line with overall budgeted revenues for the year. This was due principally to an Estate Tax receipt of $128,000. Actual RITA revenues were $125,000 less than Budget and $166,000 less than last year. 2012 RITA revenues were approx. 175k vs. 341k last year. At this point the original Finance Committee recommendation of revenues appears to be more in line what we can expect for the year than the current budget.
Expenses were generally in line with budget. We have enjoyed a $20,000 decrease in our insurance premium due to the settlement of various lawsuits.
Caution is recommended regarding discretionary expenditures as we move forward.
We had a presentation by Mark Maag of Lampion Companies relative to replacing the traffic signal with high tech LED lighting. This will significantly reduce ongoing electricity usage. Up front costs are about $1,100 and the committee recommends moving forward to council.
Bernice presented the case for the copying machine and the Finance committee recommends that council proceed with the purchase.
There was discussion of a new Computer for the Administrative staff and there is a recommendation to move the project along.
Bernice presented some options on health care that would be more cost effective. Jonathan Slain will be following up and be prepared to make a recommendation next month.
Joe Maurer consulted with Christopher Brassell regarding proper procedure for purchase of a police car. There is definitely a need for council to make a motion or pass a resolution before the chief can issue a purchase order for a new Police Car. The mere fact that it is in the budget is not approval of purchase but merely an allocation of funds.
Meeting adjourned at 8:15PM
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