Village of Mantua
Finance Committee Meeting
February 11, 2010

Call to Order: 6:30 P.M.

Roll Call: Linda Clark, Ben Prescott, Roger Hawkins

Others: Clerk-Treasurer Jenny August, Mayor Donna Hawkins.

Appointment of Committee Chairperson:
Ben Prescott stated that he would like to be Chairperson for the next year. Linda Clark nominated Ben as Chairperson, Roger Hawkins seconds. No other nominations. Linda Clark and Roger Hawkins vote yes, Ben abstains.

Minutes:

Motion to approve the Minutes from the January meeting by Roger Hawkins, seconded by Ben Prescott. Linda abstained because she was not officially part of the committee during the January meeting. Both ayes on vote.

Financial Reports:

Jenny gave the Financial reports. The Fund status at the end of January was $186,165. We will see some nice increases as the Income Taxes start rolling in. Revenues were $104,022. Expenses totaled $90,821. There were no fund adjustments. Water and Sewer reconciled exactly, as did Income Tax, and the bank reconciliation went through with no adjusting factors. We are still in the negative in Water and Sewer, and even worse because we did not even take in enough money for the January transfers. The good news is that next week we can expect some large customers to pay their bills, such as Mantaline, and Crestwood Schools. Hopefully we can catch up a little bit. Ben said a school district was put on Fiscal Watch and was just moved to Fiscal Emergency because they were not able to get themselves out. Jenny has to send reports to Local Government Services every month, and they can see that we are having trouble.

Legislation:

Ben reviewed the legislation that will be presented at the Council meeting Tuesday.

Bills of Resolution:

Motion to recommend the Bills of Resolution to Council by Roger, seconded by Ben. All ayes on vote.

Other Discussion:

$50,000 Grant Money

Citizens:

No citizens attended.

Motion to adjourn at 7:54 P.M. by Roger, seconded by Linda. All ayes on vote.

___________________________
Ben Prescott, Chair of Finance

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Jenny August, Clerk-Treasurer