STORMWATER QUARTERLY REPORT

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Finance Committee

November 10th, 2008

Meeting Minutes

 

Attendees: Joe Maurer, Chair, Joe Hudson,Committee, Bernice Schreiber,Finance Mgr., George Skipper, Council, John Bourisseau, Council, Ned Sedlak, Council, Chief Pitts, Joe Sciangula,

Meeting Called to Order at 7:00PM

Review of Accounts Payable.

Discussion of various items on the list with satisfactory answers to all questions other than two invoices. Joe Maurer to follow up on.

Payables Approved subject to satisfactory answers to the two exceptions.

Review of October Financial Statements.

Discussed various items and received satisfactory answers to all questions

Conclusion of Financial Statement review is that overall we are showing positive comparisons of actual to budget. This as in previous months 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. It appears that the surplus in the General Fund for the entire year will approximate $50,000 to $100,000.

Budget Discussion

Discussion of various budget items most significant being the need to reduce RITA revenues from the preliminary number of $936,000. Finance committee anticipates that with some belt tightening we can still balance the budget. Joe and Bernice to meet and work out a second draft based on various modifications. Target is to have a final budget for the December Council Meeting.

Other Discussion Items

Discussion of road salt problem

Discussion of the RITA program to subpoena delinquent taxpayer records (Scheduled for December 5th)

Discussion of Equipment needs of the Service Department

Discussion of the need to enter into a contract with Chagrin Falls for billing of

ambulance services to Medicare

Bernice is billing JETA for the deficiency in their $10,000 bond requirement.

Meeting adjourned at 8:15PM

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