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Minutes of the Regular Meeting of Council <br />Monday, April 19, 2021 <br />Page 7 <br />Now for the financial State of the Village: <br />FINANCIAL POSITION. <br />2020 was a surprisingly strong financial year in Mayfield Village. Our income tax collections <br />totaled approximately $21 million, an increase of about $740,000 over 2019. The vast majority of <br />the Village's revenue comes from income tax dollars paid by those who are employed in the <br />Village; that tells us that even though many employees were working from home, our business <br />base remains stable and healthy, and continues to support the services and amenities enjoyed by <br />residents of Mayfield Village. <br />Our total general fund revenues for 2020 totaled approximately $24.9 million, an increase of <br />almost $177,000 over 2019. <br />In 2020, we received grant dollars totaling about $470,000. Most of this was in the form of a grant <br />from the State of Ohio to help fund the Parkview Inclusive Playground Project. This year, the <br />State of Ohio has also granted us $200,000 to put toward ADA improvements at the Civic Center. <br />In 2020, our general fund expenditures, exclusive of year-end transfers, were $14.6 million. This <br />amount represents a decrease in spending of about $1.3 million from 2019. <br />Our general fund balance as of Dec 31, 2020 was $33.6 million, an increase of about $8.8 million <br />over our balance on Dec 31, 2019. We ended 2020 with total outstanding debt of $3.4 million, <br />down from $16.3 million in 2010. We currently have over $3.7 million set aside in the debt <br />retirement fund to pay off our remaining debt and will do so when it is economically beneficial <br />and permissible. <br />2020 CAPITAL PROJECTS. <br />Capital Projects completed last year include: <br />The annual Road Program, which consisted of concrete road repairs on SOM Center Road, <br />North Commons Blvd., Parkview Drive, White Road, Wilson Mills Road, Highland Road, <br />Lander Road, SOM Court, Bramblewood Lane and Thornsway Drive. <br />The All -Inclusive Parkview Playground. <br />Installation of Beta Entryway Signage. <br />Extension of the Wilson Mills Sidewalk from Hanover Road to Echo Drive. <br />In addition to these capital projects, we hired three additional firefighters. As a result of the <br />pandemic, many Fire Departments in the area were no longer permitting their full-time <br />members to work part-time for other departments. This made staffing in our own Fire <br />