Finance - December 15th 2014

MINUTES OF THE FINANCE COMMITTEE MEETING
Monday, December 15, 2014 – 7:30 p. m.
Main Conference Room – Mayfield Village Civic Center

The Finance Committee meeting was held on Monday, December 15, 2014 in the Main Conference Room at the Mayfield Village Civic Center.  Mr. Marquardt called the meeting to order at 7:30 p.m.

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Present: Mr. Marquardt, Mr. Saponaro, and Mr. Marrie

Also Present: Mr. Jerome, Mr. Wynne, Chief Edelman, Mr. Metzung, Mr. Marrelli, Mr. Thomas, Chief Carcioppolo, Mr. DiNardo, Ms. Wolgamuth, Mr. Esborn, and Mrs. Betsa

1. Discussion of a motion to authorize expenditure in an amount not to exceed $8,366.33 to Valley Freightliner for repair to Service Department truck 3 engine. (Straw vote approved for expenditure of $15,681.52 on 11/19/14).

Mr. Metzung reported that Cummings came forward and helped warranty some of the repairs that were made to the truck. 

Mr. Marquardt asked, do we have any other money coming back, possibly?

Mr. Metzung replied, when I talked to Valley today, no. 

Mr. Marrie asked, does this fall under warranty?

Mr. Metzung replied, no.   It really came down to 12,000 miles and this truck’s broke, what’s going on?  I called Cummings and it made a difference. At first they were not going to warranty anything.

Mr. Marrie stated, good job.  You saved $7,000.

The Committee recommended Item #1 for approval.

2. Discussion of a motion to authorize expenditure in the amount of $11,570.00 to Mayfield City Schools for Wildcat Sports & Fitness Rental for 2014 (pass through).

The Committee recommended Item #2 for approval.

3. Discussion of a motion to acknowledge receipt of financial reports for November 2014 and to approve of same as submitted.

The Committee recommended Item #3 for approval.

4. Discussion of a motion to authorize transfer from the General Fund to the Street Construction Maintenance and Repair Fund to cover salt purchases, traffic signal mast arms, and the 2014 road program the sum of One Million Eight Hundred Thousand Dollars ($1,800,000).

Mr. Saponaro asked, everything we are doing from Item #4 through 20 have all been approved as expenditures and now we are making the necessary transfers?

Mr. Wynne stated, they were in the budget.  There were four transfers where the amounts have changed.  These items are up for final approval by Council.

Mr. Saponaro asked, they were in the budget and these are all budgeted items that have been approved, even the ones approved that have changed?  Now we are just making the transfers?

Mr. Wynne replied, correct.

Mr. Saponaro asked, is this housekeeping or above and beyond?

Mr. Wynne replied, it’s above and beyond. 

Mr. Marquardt asked, this is just an adjustment?

Mr. Wynne replied, yes, $1.8 million was initially $1.6 million. We had to bump it by $200,000 to cover the additional salt purchases we had to make during the summer and then the cost of construction on the Civic Center driveway. That money will be paid back to us in the form of a grant that we will not receive until the first quarter of next year.

The Committee recommended Item #4 for approval.

5. Discussion of a motion to authorize transfer from the Sanitary Sewer Relief Fund to the Sanitary Sewer Conversion Fund to cover the projected costs of the Eastgate/Meadowood project the sum of Two Million Seven Hundred Sixty Four Thousand Dollars ($2,764,000).

Mr. Saponaro asked, is that budgeted or above budget?

Mr. Wynne replied, budgeted.

The Committee recommended Item #5 for approval.

6. Discussion of a motion to authorize transfer from the General Fund to the Sanitary Sewer Relief Fund for future sewer conversion projects the sum of Six Hundred Thousand Dollars ($600,000).

Mr. Wynne stated, this is budgeted.

The Committee recommended Item #6 for approval.

7. Discussion of a motion to authorize transfer from the General Fund to the Infrastructure Improvement Fund to cover costs relating to Village flooding issues and various D&I projects the sum of One Hundred Thousand Dollars ($100,000).

Mr. Wynne stated, this was originally $25,000. We had to increase it by $75,000 to cover the costs of the work we had to do on the flooding issues on Beta and also the Wiley basin.

The Committee recommended Item #7 for approval.

8. Discussion of a motion to authorize transfer from the General Fund to the General Bond Retirement Fund to cover current and future debt payments not funded by T.I.F., Special Assessment and Property Tax Revenue the sum of Nine Hundred Thousand Dollars ($900,000).

Mr. Wynne stated, this was originally $600,000. We had some tax collections this year above budget so we wanted to take some of that additional money unplanned for and put it in the Bond Retirement Fund for next year so that we can fully pay off the $1.1 million in Notes we have that we roll over annually.

The Committee recommended Item #8 for approval.

9. Discussion of a motion to authorize transfer from the North Commons T.I.F. Fund to the General Bond Retirement Fund to offset debt payments the sum of Eight Hundred Seventy Four Thousand Three Hundred Eighty Seven Dollars and Twenty-Two Cents ($874,387.22).

Mr. Wynne stated, the money we get from the T.I.F.s go into the T.I.F. Fund. We transfer them from the T.I.F. fund to the Bond Fund to pay the debt.  Our T.I.F. revenues are quite a bit above budget this year from what we planned for. These are actual receipts that came in from the five companies.

The Committee recommended Item #9 for approval.

10. Discussion of a motion to authorize transfer from the Governor’s Village T.I.F. Fund to the General Bond Retirement Fund to offset debt payments the sum of Seventy-Eight Thousand Nine Hundred Three Dollars and Ninety Cents ($78,903.90).

The Committee recommended Item #10 for approval.

11. Discussion of a motion to authorize transfer from the Heinen’s T.I.F. Fund to the General Bond Retirement Fund to offset debt payments the sum of Sixteen Thousand Four Hundred Twenty Nine Dollars and Four Cents ($16,429.04).

The Committee recommended Item #11 for approval.

12. Discussion of a motion to authorize transfer from the Skoda, Minotti T.I.F. Fund to the General Bond Retirement Fund to offset debt payments the sum of Fourteen Thousand Two Hundred Twenty Four Dollars and Two Cents ($14,224.02).

Mr. Marquardt asked, how come they were higher this year? 

Mr. Wynne replied, property re-evaluations.

The Committee recommended Item #12 for approval.

13. Discussion of a motion to authorize transfer from the OMNI Hotel T.I.F. Fund to the General Bond Retirement Fund to offset debt payments the sum of  Seventy Four Thousand One Hundred Fifty Three Dollars and Twenty-Three Cents ($74,153.23)

The Committee recommended Item #13 for approval.

14. Discussion of a motion to authorize transfer from the Police Pension Fund to the General Fund to offset pension costs the sum of Fifty One Thousand Dollars ($51,000).

Mr. Wynne stated, this is in the budget.

The Committee recommended Item #14 for approval.

15. Discussion of a motion to authorize transfer from the Police Operating Fund to the General Fund to offset operating expenses the sum of Sixty Four Thousand Dollars ($64,000).

Mr. Marrie asked, budget also?

Mr. Wynne replied, yes.

The Committee recommended Item #15 for approval.

16. Discussion of a motion to authorize transfer from the General Fund to the Community Room Fund to cover the cost of future construction the sum of One Million Dollars ($1,000,000).

Mr. Wynne stated, this was originally $300,000.  In light of some of the reports back from the architect firm and the meeting we had with the Mayor on potentially changing course from what we were going to do, we felt that with the extra tax money we had coming in this year, we would put an additional amount aside to cover the cost.

Mr. Saponaro asked, what is currently in now?

Mr. Wynne replied, we have about $350,000 in the Fund now.

The Committee recommended Item #16 for approval.

17. Discussion of a motion to authorize transfer from the General Fund to the Civic Center Fund to cover future capital needs the sum of One Hundred Thousand Dollars ($100,000).

Mr. Marquardt asked, what might those be?

Mr. Wynne replied, we had budgeted $70,000 this year to replace the boilers.  We did not need to do so.  I thought it would be a good idea just to have the money in that fund so that when that time does come, we will have it set aside. 

The Committee recommended Item #17 for approval.

18. Discussion of a motion to authorize transfer from the General Fund to the Capital Improvement Fund to    cover the cost of entryway, lighting and sidewalk projects, the sum of Two Hundred Thousand Dollars ($200,000).

Mr. Marquardt asked, where is this?  Mr. Wynne replied, the entryways were for Aintree and Hanover. The lighting was the Library driveway. The sidewalk project was from the fire station to Beta. That did not happen this year but we still transferred the money anyway.  It should happen next year.

The Committee recommended Item #18 for approval.

19. Discussion of a motion to authorize transfer from the General Fund to the Green Corridor Construction Fund to cover costs associated with the trail system the sum of One Hundred Fifty Thousand Dollars ($150,000).

Mr. Wynne stated, that was budgeted.  We had some money in the Fund already. We had money coming in for the NOACA Grant. This is just the balance of what was not covered in the Grant and previous Fund balance.

Mr. Marquardt asked, it’s already spent?

Mr. Wynne replied, yes. We have not fully paid Mr. Excavator yet for the project.

The Committee recommended Item #19 for approval.

20. Discussion of a motion to authorize partial return of 2013 advance to the Green Corridor Construction Fund from the General Fund the sum of Nine Hundred Thirty-One Thousand Seven Hundred Forty Seven Dollars and Fifty-Four Cents ($931,747.54)

Mr. Wynne stated, this is lower.  It was originally $1,067,417.58. This is the money we are getting from NOACA. As we pay Mr. Excavator, I submit those bills to NOACA and we get our percentage back.  The final payment to Mr. Excavator won’t be until next year some time. We still have another $136,000 coming from NOACA.

The Committee recommended Item #20 for approval.

21. Discussion of the First Reading of Ordinance No. 2014-26, entitled, “An ordinance appropriating funds for current expenses and expenditures of Mayfield Village, Ohio for the period from January 1, 2014 and ending December 31, 2014 and declaring an emergency.”  Introduced by Mayor Rinker and Council as a Whole.

The Committee recommended Item #21 for approval.

22. Discussion of the First Reading of Ordinance No. 2014-27, entitled, “An ordinance appropriating funds for current expenses and expenditures of Mayfield Village, Ohio for the period from January 1, 2015 and ending March 31, 2015 and declaring an emergency.”  Introduced by Mayor Rinker and Council as a Whole.

The Committee recommended Item #22 for approval.

23. Discussion of Resolution No. 2014-30, entitled, “An Emergency Resolution authorizing and directing the Mayor and Director of Finance to file an application with the Ohio Department of Natural Resources for funding through the Recreational Trails Program.”  Introduced by Mayor Rinker and Council as a Whole.

Mr. Esborn stated, I sent a memo out about this.  We structured the application to get the maximum award allowed in the program. It’s a little confusing because there are eligible costs and total costs. We built it to try and get the most.

Mr. Saponaro and Mr. Marrie recommended Item #23 for approval.

Mr. Marquardt voted no.  We have put enough money into the trail system at this point.

Mr. Saponaro stated, the only question I have on this is, Jim McKnight, the Landscape Architect, Ron, are you able to do some of the things we are contracting out with this individual?

Mr. DiNardo replied, no.  All the trail stuff is landscape-related.  His background is more suited for the designs he has been working on.  Frankly, it is a good thing we have him hired because we keep it in-house and you have some control over the Landscape Architect and what the Village wants and needs.

Mr. Saponaro stated, he’s not in-house.  He’s not you. 

Mr. DiNardo replied, no, he’s a paid consultant.  It is something which is what he does.

Mr. Saponaro stated, okay, to answer the question, you could not do what he does because it’s different?

Mr. DiNardo replied, yes.

24. Discussion of Resolution No. 2014-32, entitled, “A Resolution Requesting the Cuyahoga County Fiscal Officer to adjust the amended official certificate of estimated resources for 2014.”  Introduced by Mayor Rinker and Council as a Whole.

Mr. Wynne stated, we submit this to the County at the beginning of the year and at the end of the year to show the balances of our estimated receipts for the year.  Just like the budget adjustments for expenses, there were also some for revenues.  We have to inform the County of budget adjustments from the revenue side.  From the County’s standpoint, our beginning Fund balance plus our revenues have to be greater than our expenditures.

The Committee recommended Item #24 for approval.

25. Discussion of Resolution No. 2014-33, entitled, “A Resolution Requesting the Cuyahoga County Treasurer to Advance from the Proceeds of Tax Levies for the Collection Year 2015.” Introduced by Mayor Rinker and Council as a Whole.

Mr. Wynne stated, this is just telling the County to send money when you get it instead of holding it.

The Committee recommended Item #25 for approval.

ANY OTHER MATTERS

There being no further business, Mr. Marrie, seconded by Mr. Saponaro, moved to adjourn.  The meeting concluded at 7:45 p.m.

Respectfully submitted,

Mary E. Betsa, Clerk of Council