Village of Mantua
Finance Committee Meeting
April 15, 2010

Call to Order: 6:30 P.M.

Roll Call: Linda Clark, Roger Hawkins, Ben Prescott was absent

Others: Clerk-Treasurer Jenny August, Mayor Donna Hawkins, Chief Harry Buchert, Village Administrator Ed Trego, Council members Linda Schilling and Marty Hura.

Motion to excuse Ben while he attends a funeral by Linda Clark, seconded by Roger. Both ayes on vote.

Minutes:

No discussion or issues with the April minutes.

Motion to approve the Minutes from the April meeting by Linda Clark, seconded by Roger. Both ayes on vote.

Financial Reports:

Jenny gave the Financial reports. The Fund status at the end of March was $417723. Revenues were $192623. Property tax revenues were reduced so we got much less than usual. Expenses including payroll totaled $100,648. We made the quarterly Sterling and Cruiser payments. There were no fund adjustments in the Cash Summary report. Jenny pointed out in this report that in the Sewer Fund we took in $14,206 in revenues, however we spent 21,000. If this keeps up spending $7,000 more than we are taking in, we are really getting in trouble. Something has got to change. Water and Sewer reconciled exactly, as did Income Tax, and the bank reconciliation went through with no adjusting factors. Lastly, Jenny mentioned that she is guestimating that we will be about $50,000 short in Sewer, and $14,000 short in Water, and only for a half year. Jenny said it doesnít make sense to defer the payment if we can somehow get the money. Jenny recommends that we save the deferment for a time that we may not have enough in the account to make the payment. This situation is getting worse. Jenny spoke with a source that said the EPA will eventually be phasing out small sewer plants, and our plant will be getting much more of the business. It is important to keep our plant in good working order. Roger said there is someone in Rural Residential that wants to make 6 or 7 three acre lots and they want to put in septics. Roger says he views this negatively because our ordinances say they canít drill wells and it is meant to support our Water & Sewer plant. Jenny asked if the village can afford to run water & sewer to them. Roger said the property owners would be assessed. Linda Clark asked if someone wants to build, isnít it their responsibility to get the Water & Sewer to that area? Ed said the Developer generally does it, and leaves a performance bond, then in a year or two, it becomes the Villages to maintain. Linda said it is up to Planning.

Motion to recommend financial reports to Council by Roger, seconded by Linda. Both ayes on vote.

Legislation:

Linda 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 Linda Clark. Both ayes on vote.

Other Discussion:

$50,000 Grant Money

Park Lodge Cleaning

Personnel Handbook Changes

Jenny reminded everyone that she will not be attending the Council meeting Tuesday. She will be attending her sonís wedding in Punta Cana.

Motion to adjourn at 8:43 P.M. by Linda, seconded by Roger. Both ayes on vote.

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Linda Clark, Chairing in Benís absence

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Jenny August, Clerk-Treasurer