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Minutes of the Regular Meeting of Council <br />Monday, Apri125, 2011 <br />Page 5 <br />BUILDING - John Marrelli <br />There was nothing to report. <br />ENGINEERING - Tom Cappello <br />There was nothing to report. <br />LEGAL DEPARTMENT - Joe Diemert/Diane Calta <br />There was nothing to report. <br />F'IRE - Chief Mohr <br />Chief Mohr replied, we have two things on the agenda for tonight and I will comment when that <br />time comes. <br />FINANCE - Ron Wvnne <br />Mr. Wynne stated, just a brief comment on our budget. I think everybody has been aware of the <br />discussions in the media about the State budget cuts and how they are impacting municipalities <br />and school districts. The impact to us locally over the course of time, not immediate, and the loss <br />of local government revenue and the commercial activity tax will eventually end up being about <br />$300,000 a year and then on top of that just briefly they had a vote to repeal the estate tax. If that <br />goes through and is finalized, the effective date for that I believe is not unti12013, so any estate <br />tax proceeds that we are entitled to we will still receive for the next couple years but starting <br />2013 that is going to be phased out 100%. A couple years ago we got an estate tax settlement for <br />about $800,000, so some years it's good and a real benefit to us and other years it's not a big part <br />of our budget but the positive thing about the estate tax is we don't really budget a significant <br />amount of money and rely on it in our normal operations. <br />Mayor Rinker stated, if I can just add to that because I think it's worth our paying attention to <br />this. Fortunately from the Village's standpoint, as Ron has given an overview, while it does <br />affect us, our bottom line is not affected as much as many other communities and local <br />governments. Every school district, library, I've seen this with the Metroparks, regional <br />governments, across the board, the proposed cuts are very very substantial and a lot of these <br />organizations had already been apprised going into this year to set certain benchmarks. The <br />pending legislation is basically double the impact of what was even predicted at the beginning of <br />this year. So, we have to pay attention to it because we're seeing a lot of our neighbors and a lot <br />of other organizations that are going to be taking some preriy serious hits, not the least of which <br />is our school district. It looks like the pushback state-wide is such that there may be some <br />significant changes in the legislation, but right now it's kind of a moving target. It's hard to see. <br />What's encouraging from our standpoint is that we are at least trying to be as proactive as we can <br />be. We just have to keep a weather eye out.