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Minutes of the Regular Meeting of Council Tuesday, January 21, 2014 Page 16 Motion to acknowledge receipt of financial reports for December 2013 and to approve of same as submitted. Mrs. Mills, seconded by Mr. Marquardt, made a motion to acknowledge receipt of financial reports for December 2013 and to approve of same as submitted. Council President Buckholtz asked if there were any questions or comments. Mr. Wynne would like to highlight a few things to touch on for the year. We will have our normal Town Hall meeting where we talk about the results for the year as well as our budget for 2014. This past year was really a very good year. For our General Fund, we budgeted revenues of $14.8 million. We came in at $18.4 million. Our revenues exceeded budget by $3.6 million. Our Operating Expenses in the General Fund excluding transfers were budgeted at around $13 million. They came in at $12.4 million. Our Operating Expenses were $600,000 under budget. From a capital projects standpoint, some of the more significant projects during the year: the new ambulance came in under budget by $33,000; the road program came in under budget by $100,000; Highland Road sidewalk came in under budget by $52,000; and the soccer field restroom came in over budget by about $49,000. On the Greenway Trail, the project just started this Fall and will be completed in 2014. We had originally been awarded funding from that project from NOACA of $600,000. Administration went back to NOACA. That funding was increased to $1,067,000. From the standpoint of our fund balances, our General Fund or our Rainy Day Fund which we kind of like to refer to it, when you exclude the advance we had to make to the Greenway Corridor Fund just temporarily until we got the money from NOACA, our rainy day fund grew by $10.1 million to $11.7 million. We have also put away $300,000 into the Community Room Fund for future plans. We put away $1.5 million into the Sanitary Sewer Conversion Fund for the project to take place starting this year. Also, we put $300,000 additional into the Debt Retirement Fund to be used for future expenses. Council President Buckholtz stated, good report. Any other questions? There were none. Roll Call: AYES: All NAYS: None Motion Carried Financial Reports for December 2013 Acknowledged and Approved