Finance Committee of Council |
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Monroe News ![]() Prominent Voice Citizen ![]() Joined: Oct 12 2010 Status: Offline Points: 4778 |
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City of Monroe Finance Committee of Council February 23, 2016 The Finance Committee of Council met at 5:45 pm on February 23, 2016 in the Council Library located at 233 South Main Street, Monroe, Ohio. Present were: Suzi Rubin, Vice Mayor; Jason Frentzel, Council Member; Keith Funk, Council Member; William J. Brock, City Manager; Kacey L. Waggaman, Assistant Manager/Director of Finance; and Angela S. Wasson, Assistant to the City Manager/Clerk of Council. Mrs. Waggaman advised that she is still trying to close out the year and if there are any changes to the December Finance Reports she will let the Committee know. She reported that income tax is up by 6% for the year and January is also up. Mr. Funk asked about the spike in September of 2014. Mrs. Waggaman explained that a company had overpaid when they filed their return and did not want the money returned as they were sure their payroll would increase. Mr. Frentzel asked about refunds and Mrs. Waggaman replied that they do one large refund process and it is not done in April, but May usually has a decent number. March can also be large because of net profits or quarterly payments. Mr. Funk asked if the number delinquent accounts were comparable to other communities and Mrs. Waggaman was not sure, but indicated that Monroe's was less than 1%. Mrs. Waggaman stated that every three years retirees must file and this is one of those years. Income tax staff did an outreach at Mount Pleasant and went to the School District for a class session. Mrs. Rubin asked about Senate Bill 27 as it relates to the treatment of cancer for firefighters. Mrs. Waggaman was not aware of it and Mr. Brock advised that he believed it should be more specific and not just any cancer that is not related to the job. The Finance Committee meeting adjourned at 6:14 pm. Respectfully submitted, Angela S. Wasso , CMC Clerk of Council |
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Monroe, Ohio Breaking News
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John Beagle ![]() Voice Official ![]() ![]() Joined: Nov 21 2000 Location: Monroe, Ohio Status: Offline Points: 19827 |
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General Assembly: 131Short Title: Firefighter-cancer-presumed to have incurred while on duty-workers' comp/pension fund [ Hide Long Title ]Long Title: To amend sections 742.38, 4123.57, and 4123.68 of the Revised Code to provide that a firefighter who is disabled as a result of specified types of cancer is presumed for purposes of the laws governing workers' compensation and the Ohio Police and Fire Pension Fund to have incurred the cancer while performing official duties as a firefighter.Primary Sponsor: Senator Tom PattonStatus: As IntroducedLegislation Text : View Current Version |
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Monroe News ![]() Prominent Voice Citizen ![]() Joined: Oct 12 2010 Status: Offline Points: 4778 |
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City of Monroe Finance Committee of Council March 22, 2016 The Finance Committee of Council met on March 22, 2016 at 5:45 pm in the Council Library located at 233 South Main Street, Monroe, Ohio. Present were: Suzi Rubin, Vice Mayor; Jason Frentzel, Council Member; Keith Funk, Council Member; William J. Brock, City Manager/City Engineer; Kacey L. Waggaman, Assistant Manager/Director of Finance; and Angela S. Wasson, Assistant to the City Manager/Clerk of Council. ![]() Mrs. Waggaman reported that the income tax was up 5% over January of last year. Last year, January was up 20% over the year before. February we are up 1% for the month making it 4% overall for the year. Mrs. Waggaman presented proposed purchasing policy amendments adding a local vendor bonus, updated to refer to electronic or software, removed the reference to exhibits that were paper, and change the wording to reference the formal bidding process to mirror the current Ohio Revised Code dollar amount. Mr. Funk asked about the oversight for purchasing card expenditures and Mrs. Waggaman advised that there is a separate policy covering that and the department heads oversee this. Mr. Frentzel asked if the policy should reflect a general term rather than specific to Munis in the event that software isn't used any more. Mrs. Waggaman agreed and will make that change. Mrs. Waggaman announced that she will have recommended changes to the utility ordinance and fees ready at the next meeting. Mrs. Rubin requested that consideration be given to "pay-to-throw" regulations in the bid specifications for refuse. Mr. Brock advised that the Center for Local Government is looking into a consortium for trash pickup. The Finance Committee meeting adjourned at 6:16 pm. Respectfully submitted, Angela S. Wasso , CMC Clerk of Council |
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Monroe, Ohio Breaking News
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Monroe News ![]() Prominent Voice Citizen ![]() Joined: Oct 12 2010 Status: Offline Points: 4778 |
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City of Monroe Finance Committee of Council August 23, 2016 The Finance Committee of Council met on August 23, 2016, at 5:45 p.m. in the Council library located at 233 South Main Street, Monroe, Ohio. Present were: Suzi Rubin, Vice Mayor; Jason Frentzel, Council Member; Keith Funk, Council Member; William J. Brock, City Manager; Tina Williams, Director of Finance; and Angela S. Wasson, Clerk of Council. Mrs. Williams sought feedback for the increase in the cemetery rate proposals from the Committee. The proposed rate structure will keep the Cemetery Fund about even and get dome of the small projects taken care of. Also proposed is a change on the time from 3:00 p.m. to 2:30 p.m during weekdays to cut down on the overtime expenses. Mrs. Williams suggested that these rates be reviewed every three years. Mrs. Williams stated that a representative involved in the annual audit will be present at the next meeting of Council. There were minor items found such as, the prohibiting the Income Tax Auditors making adjustments. Adjustments must be made by the Income Tax Commissioner. Further, a revised Certificate of Estimated Resources was not requested. Mrs. Williams advised that proposed storm water rates will be brought to the next Finance Committee meeting. The Finance Committee meeting adjourned at 6:15 p.m. Respectfully submitted, Angela S. Wasso , CMC Clerk of Council |
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Monroe, Ohio Breaking News
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Monroe News ![]() Prominent Voice Citizen ![]() Joined: Oct 12 2010 Status: Offline Points: 4778 |
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City of Monroe Finance Committee of Council October 25, 2016 233 South Main Street, Monroe, Ohio The Finance Committee of Council met at 5:45 p.m. on October 25, 2016, in the Council Library located at 233 South Main Street, Monroe, Ohio. Present were: Suzi Rubin, Vice Mayor; Jason Frentzel, Council Member; Keith Funk, Council Member; William J. Brock, City Manager; Kacey L. Waggaman, Assistant Manager; Tina Williams, Director of Finance; and Angela S. Wasson, Assistant to the City Manager/Clerk of Council. Mrs. Williams reported that the third quarter was up 8% and anticipates that the City will remain at a 6% increase, which is being conservative. Mrs. Waggaman advised that the five-year forecast has been updated and reflects a natural decline. However, there are some capital project amounts that are limited because of our debt limitation. She stressed the need to discuss safety services levies. Mrs. Rubin explained that the minimum balance set for the General Fund was based on four months of expenditures Mr. Funk asked about establishing a sales tax in the entertainment district and was advised by Mr. Brock that a sales tax is a county tax and not a local government option. Mrs. Williams reviewed alternatives for storm water rates that reflected some larger areas of land, due to the impervious surfaces, were paying less than smaller parcels of property. After discussion by the Committee, Mrs. Williams will present to the Committee other alternatives, such as flat rates for residents and commercial property at a future meeting. The Finance Committee meeting adjourned at 6:30 p.m. Respectfully submitted, Angela S. Wasso , CMC Clerk of Council |
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Monroe, Ohio Breaking News
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Monroe News ![]() Prominent Voice Citizen ![]() Joined: Oct 12 2010 Status: Offline Points: 4778 |
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City of Monroe Finance Committee of Council May 23, 2017 The Finance Committee of Council met on May 23, 2017, at 5:45 p.m.in the Council Library located at 233 South Main Street, Monroe, Ohio. Present were: Vice Mayor Suzi Rubin; Council Member Keith Funk; Council Member Jason Frentzel; City Manager William J. Brock; Clerk of Council Angela S. Wasson; Assistant Finance Director Deborah Armitage; and Financial Operations Specialist Dawn Levandusky. Mrs. Rubin brought up the City of Mason’s policy of residents that pay property tax receiving a credit on their income tax. She is not in favor of a property tax and noted that the school may be putting a property tax levy on the ballot soon. If the income tax is increased by one half percent the residents that own property would not be asked to pay the increase. She suggested asking for one half percent increase with .35% going to safety services and .15% going to capital improvement projects. Some of our vehicles would be capital improvement projects and parks is a need today but, not later. Mr. Brock added that this would allow us to keep additional monies in the General Fund to support the seven new firefighters currently paying for the grant. Ms Levandusky reviewed the proposed amendments to the water ordinance that include an increase in the deposit for renters from $75.00 to $200.00. This will help with unpaid bills on foreclosed property. Another change is adding a trip charge that will be added when water is disconnected and reconnected as opposed to the current one time charge of $50.00 for both. The Finance Committee meeting adjourned at 6:22 p.m. Respectfully submitted, Angela S. Wasson, CMC Clerk of Council
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Monroe, Ohio Breaking News
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Monroe News ![]() Prominent Voice Citizen ![]() Joined: Oct 12 2010 Status: Offline Points: 4778 |
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City of Monroe Finance Committee of Council June 27, 2017 The Finance Committee of Council met on June 27, 2017, at 5:45 p.m. in the Council Library located at 233 South Main Street, Monroe, Ohio. Present were: Vice Mayor Suzi Rubin; Council Member Jason Frentzel; City Manager William J. Brock; Director of Finance Tina Williams; Clerk of Council Angela S. Wasson; and Income Tax Commissioner Kristina Mayes. Mrs. Williams reported that the there is approximately $5.5 million in the General Fund and, as of the end of May, income tax receipts are up by 4% and up 11% year-to-date. The withholdings are coming in bringing June up by 24% so far. We did budget conservatively with a 5% increase. In reference to the previously established target amount of the General Fund to be $3.2 million, Mrs. Williams advised that the Government Finance Officers Association recommends two months of operating revenues or expenses. She is recommending that a formal policy be adopted. She noted that without the additional revenue the present targeted balance will not be met in 2019. She suggested a target balance of $4 million. Mr. Frenzel supported a $4 million target balance and, if the increase in income tax doesn’t pass, we should formalize a policy. Mrs. Williams is looking into refinancing some of the bonds that could save approximately $150,000 per year. Mrs. Rubin asked if the terms would change. Mrs. Williams advised it will not change the terms and some may be paid off early. Mrs. Williams announced that the audit report was released and will be filed with the State this week. She will bring the report to the next Finance Committee. General discussion was held regarding some of the selling points for the income tax increase. The Finance Committee meeting adjourned at 6:25 p.m. Respectfully submitted, Angela S. Wasson, CMC Clerk of Council
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Monroe, Ohio Breaking News
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Monroe News ![]() Prominent Voice Citizen ![]() Joined: Oct 12 2010 Status: Offline Points: 4778 |
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City of Monroe Finance Committee of Council September 12, 2017 233 South Main Street, Monroe, Ohio The Finance Committee of Council met on September 12, 2017, at 5:45 p.m. in the Council Library located at 233 South Main Street, Monroe, Ohio. Present were: Suzi Rubin, Vice Mayor; Keith Funk, Council Member; Jason Frentzel, Council Member; William J. Brock, City Manager/City Engineer; Tina Williams, Director of Finance; and Angela S. Wasson, Assistant to the City Manager/Clerk of Council. Mrs. Williams reported that the income tax is up 40% and 17% for the year. We are over $100,000 were we were last year. She added that this is due to the withholdings. They are preparing for the business returns in October. Mrs. Williams updated the five-year forecast changing the conservative 5% annual increase to 10% for 2017. Mr. Funk asked if this included figures in the event the levy on the upcoming ballot is passed and Mrs. Williams replied that it does not. Mrs. Williams pointed out that the JEDD is going well and we are receiving $45,000 from that and expect to see $400,000 from building permits due to upcoming projects such as, Amazon. She noted that the 2017 expenses are meeting the current appropriations for the year. She will continue to keep the actual budget expenses in the reports. With respect to the debt payments, Mrs. Williams stated that they will drop from $500,000 to $90,000 in 2020. Mr. Brock advised that if we do not get the levy passed he felt that we can drop back three firefighters and still maintain the level of service. Mr. Funk suggested that we put the City in a position to prepare for that to be safe. Reporting on the refuse rates, Mr. Brock explained that it would be approximately 2.8 years before the rates would increase to $14.41 to maintain a $100,000 cushion in the trash account. He suggested looking at slowly increasing the rates in 2019 and 2020. The Finance Committee meeting adjourned at 6:09 p.m. Respectfully submitted, Angela S. Wasso , CMC Clerk of Council |
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Monroe, Ohio Breaking News
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Monroe News ![]() Prominent Voice Citizen ![]() Joined: Oct 12 2010 Status: Offline Points: 4778 |
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City of Monroe Finance Committee of Council November 14, 2017 The Finance Committee of Council met on November 14, 2017, at 5:49 p.m. in the Council Library located at 233 South Main Street, Monroe, Ohio. Present were: Suzi Rubin, Vice Mayor; Jason Frentzel, Council Member; Keith Funk, Council Member; William J. Brock, City Manager/City Engineer; Deborah Armitage, Assistant Finance Director; Heather Rippl, Finance Specialist; Kacey L. Waggaman, Assistant City Manager; and Angela S. Wasson, Clerk of Council/Assistant to the City Manager. Mrs. Armitage reported that the income tax collections are down in October, but still up by 12% for the year. Mrs. Waggaman reported that the income tax amnesty program resulted in a total tax and interest collected in the amount of $8,206.12 and $6,385.05 of penalty waived. There were 677 letters sent and the Income Tax Commissioner was able to clean up a lot of the accounts prior to switching software. In response to Mr. Funk’s inquiry, Mrs. Waggaman explained that after seven years the income tax is unable to be collected. She added that staff had a bankruptcy attorney come in for training and they are implementing an assessment based on that training. Mr. Frentzel asked if this will be implemented again and Mrs. Waggaman advised that it will either every three or five years. Mrs. Waggaman asked that the Committee review the draft Capital Asset Policy that she would like Council to adopt prior to the end of the year. She explained that they will need to have a vendor come in again and perform an inventory of everything and they will be able to utilize the Munis module for this program. She stated that the policy includes the GFOA Best Practices and increases the amount from $500 to $10,000. However, the computers, while not valued at $10,000 each, will be included to assist each department keep track of the age of the computers. Mr. Frentzel asked if the software will figure out the depreciation and Mrs. Waggaman replied that it would. The Committee inquired about tracking the recent income tax increase. Mr. Brock stated that staff is currently working on a procedure for this. The Finance Committee meeting adjourned at 6:12 p.m. Respectfully submitted, Angela S. Wasso , CMC Clerk of Council |
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Monroe, Ohio Breaking News
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John Beagle ![]() Voice Official ![]() ![]() Joined: Nov 21 2000 Location: Monroe, Ohio Status: Offline Points: 19827 |
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"She stated that the policy includes the GFOA Best Practices and increases the amount from $500 to $10,000. However, the computers, while not valued at $10,000 each, will be included to assist each department keep track of the age of the computers." This makes not sense to me.
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The privilege of a lifetime is being who you are.
-Joseph Campbell |
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Max HC ![]() Voice Citizen ![]() Joined: Nov 13 2012 Location: Monroe Status: Offline Points: 839 |
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Democrats.
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MElass ![]() Prominent Voice Citizen ![]() Joined: Sep 11 2013 Location: Monroe Status: Offline Points: 1640 |
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Is this Bureaucratic "gobblydegook"? |
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Monroe News ![]() Prominent Voice Citizen ![]() Joined: Oct 12 2010 Status: Offline Points: 4778 |
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City of Monroe Finance Committee of Council December 19, 2017 The Finance Committee of Council met on December 19, 2017, at 6:30 p.m. in the Council Library located at 233 South Main Street, Monroe, Ohio. Present were: Suzi Rubin, Vice Mayor; Jason Frentzel, Council Member; Keith Funk, Council Member; William J. Brock, Council Member; Kacey L. Waggaman, Assistant Manager; and Angela S. Wasson, Assistant to the City Manager/Clerk of Council. Mrs. Waggaman briefly reviewed the financial items Council will consider during the meeting at 6:30 p.m. She advised that in the beginning of 2018, proposed storm water rates and a proposal to phase in the refuse rates will be presented for consideration. She reported that the year-to-date tax revenue is still up 11%. Mrs. Waggaman informed the Committee that interviews for Director of Finance will begin next week and there were not many applications and very little with government experience. Mrs. Waggaman added that the salary is on the low side and she is in the process of putting together a compensation study. Mrs. Rubin supported the compensation study noting that you wouldn’t want to be at the top, but perhaps in the top three. Mr. Frentzel asked about the tracking of the income tax increase so that it is used for what Council intended it to be used for. Mrs. Waggaman replied that income tax staff is looking at their new software to attempt to create an internal service fund to track this information. Mrs. Rubin suggested that Council continue to review long range plans at put away funds for these plans and to provide for a reserve. The Finance Committee of Council adjourned at 6:14 p.m. Respectfully submitted, Angela S. Wasso , CMC Clerk of Council |
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Monroe, Ohio Breaking News
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Monroe News ![]() Prominent Voice Citizen ![]() Joined: Oct 12 2010 Status: Offline Points: 4778 |
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City of Monroe Finance Committee of Council January 8, 2018 The Finance Committee of Council met at 5:50 p.m. on January 8, 2018, in the Council Library located at 233 South Main Street, Monroe, Ohio. Present were: Jason Frentzel, Council Member; Keith Funk, Council Member; William J. Brock, City Manager/City Engineer; Kacey L. Waggaman, Assistant City Manager; Deborah Armitage, Assistant Finance Director; and Angela S. Wasson, Clerk of Council/Assistant to the City Manager. In response to Mr. Funk’s inquiry, Mrs. Armitage advised that the CAFR must be completed by June 30th. Mrs. Waggaman reported that the permanent appropriations will be presented to Council in February or March. She explained that in the Munis software the 2018 temporary budget is placed in a pending file and doesn’t permit running a monthly report yet; however, it doesn’t hold up any purchases. She noted that the December report will be sent out as soon as possible. Mrs. Armitage reported that the income tax revenue for December is up by 10% for 2017, but down 2% compared to last year. Mr. Frentzel asked what Monroe pays the City of Middletown for and Mr. Brock explained that it is part of a bond payment for a water tower that was constructed jointly between the City of Monroe and the City of Middletown. Mrs. Armitage informed the Committee that storm water rates and trash rates would be presented at the next Finance Committee meeting. The Finance Committee meeting adjourned at 6:02 p.m. Respectfully submitted, Angela S. Wasso , CMC Clerk of Council |
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Monroe, Ohio Breaking News
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Monroe News ![]() Prominent Voice Citizen ![]() Joined: Oct 12 2010 Status: Offline Points: 4778 |
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City of Monroe Finance Committee of Council September 10, 2019 The Finance Committee of Council met on September 10, 2019, at 5:45 p.m. in the Council Library located at 233 South Main Street, Monroe, Ohio. Present were: Jason Frentzel, Council Member; Keith Funk, Council Member; Christina McElfresh, Council Member; William J. Brock, City Manager; Kacey L. Waggaman, Assistant Manager; Karen Ervin, Director of Finance; Deborah Armitage, Assistant Finance Director; and Angela S. Wasson, Assistant to the City Manager/Clerk of Council. Mrs. Ervin had Mrs. Armitage switch the decimal point so you can see that the General Fund cash balance is closer to $4 million rather than $3 million. Mrs. McElfresh asked how much of our money is put into mutual funds or something that would yield some sort of interest. Mrs. Ervin stated that anything not used on a regular basis will be invested, but did not know the exact number. Mrs. Waggaman referred to the reports that show the value of the different investment accounts. Mr. Funk asked about a year-to-date budget as that would provide a better perspective of where we are. Right now it looks as if we are doing great, but it is the first half of the year with the collection of income tax. Mrs. McElfresh noted that the report shows the income tax collected and asked where it lists what has been paid out in refunds. Mrs. Ervin advised that there is not a line that lists that information. Mrs. McElfresh asked if there was a better way to handle the refunds as it seems like it took a lot of manpower. Mr. Funk recalled that the Committee was reassured that it would be okay prior to placing this on the ballot. Mrs. Ervin explained that it is the first year and next year will not be as bad. Mr. Funk noted that we are also without an Income Tax Administrator. Mrs. McElfresh expressed concern about staying on top of things and if there is a way to alleviate that stress we should look at that. Mr. Funk stated that we were assured by staff that we had the manpower and everything would be fine and we may be looking at a solution to a problem that doesn’t exist. If that changes I would have expected to hear from staff. Mr. Frentzel doesn’t want to judge anything off of the first year. Mr. Brock pointed out that staff got through it even with the reduction in staff. Mrs. Ervin presented a health indicator list from the Auditor of State’s office. This gives you the criteria what the Auditor of State’s office looks at for a watch or fiscal emergency. One of the reports is specific to the City of Monroe and based on Generally Accepted Accounting Principles (GAAP). Mrs. Waggaman explained that cash is like our checkbook. GAAP takes into account the assets and depreciation. For example, we cannot go sell our roads and that is part of our assets and increasing our worth. Mrs. Ervin referred to the report that measures our unrestricted net assets. It looks at what we own and not what we owe. Our cash value is decreasing on purpose because we are investing in our capital assets. The money is shifting from our unrestricted into our assets. The next cautionary indicator is a declining trend of 5 to 10 percent over a 3 year period. This is the General Fund balance versus the General Fund revenue. Basically, the cash reserves. We are intentionally spending down the cash reserves to invest in capital assets. Also, to give us a more reasonable cash reserve when we talk about the three month/four month. It was at one point 7 or 8 we want to get that down to something more acceptable; especially before we go into negotiations. Indicator seven looks at just our income tax revenue. Last year between 2017 and 2018 we had a decrease of income tax revenue. What this doesn’t account for is that we increased our tax revenue to two different funds. It is only looking at the General Fund and not the one-half percent increase. Indicator nine is if our expenses exceed our revenues. The ratio is less than 100%. Again, we intentionally over spent to use our cash reserve. This is something we planned for. Next year you will see this is no longer read because it was not intentional to spend down our fund balance. In response to Mrs. McElfresh’s inquiry Mrs. Ervin explained that she is still working through some null accounts for OpenBooks.gov. She will take a look at the other sections as time allows. Mrs. Waggaman distributed point factoring information from Clemens Nelson and asked that the Committee take some time to review. The survey has not been completed yet. Mrs. McElfresh asked if you get more points for having a degree in the field you are in rather just a degree in an unrelated field. Mrs. Waggaman stated it is not, but if that is what the Committee would like to do we can. Mr. Frentzel thought it was supposed to be that the number of degrees is the same for every position. For example, if your position requires as Associates and you have a Masters, they do not receive more points. Mrs. Waggaman advised that they are working on the final two job descriptions and they will be finalized. The Finance Committee meeting adjourned at 6:21 p.m. Respectfully submitted, Angela S. Wasson, MMC Clerk of Council
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Monroe, Ohio Breaking News
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