Village Finance Officer’s Report to Council

FINANCE OFFICER’S REPORT

Council Meeting

April 7, 2015

• Income tax collections 2015 vs. 2014 as of 1/31/2015:

Month                   2015                     2014           2015 Over/Under

Jan                       49,240                  75,676                  (26,436)

Feb                       56,150                  50,883                     5,267

Mar                       48,628                  60,840                  (12,212)

Total                     (33,381)

• Difference in income tax collections – 2015 vs 2014

Decrease in collections: Estimated taxes withheld for the next filing year.

1. Decrease in collections: Taxes withheld from employees.

• Collections to Note:

329. Henry Twp Fire Contract: $39,329.79
330. Wood County Recycling Grant: $3,432
331. MARCS Radio Grant: $47,322.33
332. SRO Fee’s to date: $7,004.91
333. Wood County Park Improvement Grant: $3,395

• Great Lakes EMS collections are listed as a separate handout.

• Appropriation explanation:

SECOND READINGS

224. Appropriation Ordinance: $1,224.66 added to the 2015 EMS budget for Vehicle Repair. These funds are being expended from General Fund insurance proceeds

THIRD READINGS

1. Appropriation Ordinance: $1,040 added to the 2015 budget for police education and training fees. The police department received grant proceeds in January for the same amount.

580. Appropriation Ordinance: $580.99 added to the 2015 budget for fire equipment. The fire department received grant proceeds in February for the same amount.