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Miniites of the Regular Meeting of Council _ <br />Monday, January 23, 2017 <br />Page 27, <br />There was none. <br />ROLL CALL: AYES: All Motion Carried <br />NAYS: None Expenditure Approved <br /> <br /> <br />. Motion to authorize expenditure in the amount of $6,916 to Creative Microsystems,. <br />Inc. for 2017 supporf for Finance and I'ayroll Systems. (Finance Department) <br />Mrs. Mills, seconded by Mr. Marrie; made a motion to authorize expenditure in the amount of. <br />$6,916 to Creative Microsystems, Inc. for 2017 support for Finance and. Payroll Systems. <br />(Finance Department) <br />Council President S.aponaro asked, discussion? <br />There was none. <br />ROLL CALL: AYES: All <br />NAYS: None <br />Motion Carried <br />Expenditure Approved <br />. Motion to acknowledge receipt of financial reports for December 2016 and to <br />approve of same as submitted. (Finance Department) <br />Mrs. Mills, seconded by Mr. Jerome, made a motion to acknowledge receipt of financial reports <br />for December 2016 and to approve of same as submitted. (Finance Department) <br />Council President Saponaro asked, discussion? <br />Mr. Wynne stated, I would like to just highlight a few things on my report. We closed out the <br />year. The total sum of all of our Fund balances net of purchase commitments that we have made <br />that is still open at the end of the year is $22,529,000. Our General Fund or our rainy day fund <br />net of commitments is $13,883,000. We had $3.3 million put aside for the final sanitary sewer <br />conversion project that we are going to be tackling hopefully this year. We have $2.2 million put <br />aside for the stormwater management project that we are going to be doing on Beta Drive. We <br />are also starting to put money away so we can call our bonds but not until 2022. We will need <br />$1.7 million at that time to call those and pay them off early so we are starting to put money <br />aside for that. We . have $978,000 put aside for that already. We have $9.5 million in <br />investrnents which has generated about $88,000 in interest income during the year. Finally, our <br />outstanding debt at the end of the year was $5,649,000.