STORMWATER QUARTERLY REPORT

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    Finance Committee
     December 17th, 2012
     Meeting Minutes

 

Attendees: Joe Maurer, Chair, Bernice Schreiber, Fiscal Officer, Wendy Gillund, Council, Christine Comstock, Council, John Bourisseau, Council, Kathleen Hale, Council,


Meeting Called to Order at 5:45PM

Accounts Payable
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 November Financial Statements

The Financial Statement review indicates that revenues were $190k over the budgeted amount with $130k of the increase being due to an estate tax receipt. There was also an unusual receipt last year that caused revenues to be approximately $130,000 greater than they would have normally been.
Expenses were $44k less than the budgeted amount, $20,000 of the decrease was the result of a lower insurance premium. It appears that there will be a budget surplus in the range of $250,000k for the year.  The finance committee recommends a transfer to the Capital Equipment Fund of $150,000.

Other Items
Capital requirements for the Safety and Service Departments for 2013 were discussed and approved.  The Contracts for the Law Director, Assistant Law Director, Building Inspector and Village Engineer were all discussed. 
The Ordinance establishing compensation for employees was discussed and approved.

The budget as well as budget related ordinances were discussed and all agreed to move forward and vote at the December meeting

Joe Maurer suggested that the Resolution opposing Municipal Tax Uniformity be removed from the agenda and all agreed.

 

Meeting adjourned at 6.50PM

 


 

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