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City Received $192 in Estate Taxes

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    Posted: Jul 20 2015 at 11:32am
City of Monroe
Finance Committee of Council June 23, 2015
The Finance Committee of Council met at 5:45 pm on June 23, 2015 in the Council Chambers located at 
233 South Main Street, Monroe, Ohio.

Present were: Suzi Rubin, Vice Mayor; Lora Stillman, Council Member; Steve Black, Council Member; 
Kacey L. Waggaman, Director of Finance; and Angela S. Wasson, Assistant to the City Manager/Clerk 
of Council.

Mrs. Waggaman reported that the income tax numbers are still up and she has updated the five- year 
forecast to reflect the wages proposed for the Teamsters. We received $192.00 in estate tax and 
received a reimbursement from a consultant on the Transitional Work Grant Program.

Mrs. Waggaman noted that we are still above target for 2019. She advised that the JEDD revenue 
should be right around the $38,000 that was included in the forecast. The legal expenses were 
higher than expected for the creation of the JEDD as it was never based on what the revenue was 
going to be.

The Finance Committee of Council adjourned at 6:16 pm.
Respectfully submitted,



Angela S. Wasson, CMC
Clerk of Council

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Post Options Post Options   Thanks (0) Thanks(0)   Quote John Beagle Quote  Post ReplyReply Direct Link To This Post Posted: Jul 20 2015 at 12:19pm
This short finance report concerns me. The finance committee report is the overseer of the city finances. It failed to do so in the early 2000's. Doesn't look like the committee is looking very hard into the city finances now. Let's not let history repeat.


----------From the Archives-----------
The Financial Planning and Supervision Commission was ordered by the State of Ohio's Auditors office in August of 2004 when the state ordered the City of Monroe into Fiscal Emergency.1

Monroe was over $6 Million Short
Deficits in 11 city funds totaling over $6 Million forced Betty Montgomery, Ohio State Auditor to skip over Fiscal Watch status and declare Monroe a Fiscal Emergency.

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Post Options Post Options   Thanks (0) Thanks(0)   Quote ClarkWestern1 Quote  Post ReplyReply Direct Link To This Post Posted: Jul 20 2015 at 3:25pm
Didn't you read? The got $192.00 burnin' a hole in their pockets. Say, that might buy enough caulk to plug up "ol Leaky" there at the firehouse...
"Just spittin out words to see where they splatter."
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Post Options Post Options   Thanks (1) Thanks(1)   Quote Doc Quote  Post ReplyReply Direct Link To This Post Posted: Jul 20 2015 at 3:26pm
We are in FAR better shape than we were in 2004 or when I joined Council in 2011.
Council set a hard surplus limit in the General Fund of $3.2M. We are currently sitting with $7,488,735.61 in the General Fund (including encumbrances.)

The lack of detail in the report shouldn't be alarming. We spent most of the meeting going over the latest finance reports.

These meetings are open to the public. They are held before the last Council meeting of the month at 5:45 in the Council library.
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Post Options Post Options   Thanks (0) Thanks(0)   Quote John Beagle Quote  Post ReplyReply Direct Link To This Post Posted: Jul 20 2015 at 3:40pm
I'm sure everything is fine but since most people can't make the meetings, more transparency would be appreciated. After all, prior councils and committees at the city AND the school really didn't understand what what going on with the finances.

History is funny about repeating itself. 


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Post Options Post Options   Thanks (0) Thanks(0)   Quote John Beagle Quote  Post ReplyReply Direct Link To This Post Posted: Jul 20 2015 at 3:44pm
But the big story is his the measly amount of Estate Taxes Monroe gets now thanks to our current governor. 

He redistributed tax money back into the millions of SMBs in Ohio via that reduction in the estate tax. Bad for cities, good for small businesses who used to be taxed out of existence after the death of a principal. 


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Post Options Post Options   Thanks (1) Thanks(1)   Quote Doc Quote  Post ReplyReply Direct Link To This Post Posted: Jul 20 2015 at 3:57pm
I certainly can't argue with any of that BUT I will say that we, as a city, have greatly strengthened our reporting as well as the competency of the department in the last decade. As long as the City stays on the path of fiscal responsibility, accurate reporting, and transparency; things will continue to improve.

The city has recently begun making all finances available for viewing directly online. You can see all of the latest available information here: https://monroeoh.opengov.com/

I highly recommend spending some time on the site and taking a look at where your money goes. It's one of those things that I'm very proud that we've gotten accomplished. I may have not gotten the walking paths, bike trails, and park enhancements accomplished yet but I was looking for more transparency and that's what's been accomplished here. Kudos to the staff.
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