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A <br />Minutes of the Regular Meeting of Council <br />Monday, June 20, 2022 <br />Page 10 <br />Mr. Wynne stated, I just want to make a few comments on the income tax situation from the <br />standpoint of refunds to update Council. As of today, the best guestimate for refunds since tax <br />season started is about $700,000. We are starting to see it taper off now that the tax filing <br />deadline has passed and RITA is starting to work through the refunds. The main numbers, we <br />showed income tax collections of $4.6 million. Those year-to-date numbers are net of $80,000 <br />in refunds. So, there's still another $620,000 to flow through our numbers. You will see another <br />$86,000 when I report the month of June's numbers which will then leave about $434,000 that <br />will start impacting us from the month of July going forward. RITA's starting to catch up. We <br />had our annual COG meeting the other day with RITA and they said they are probably about six <br />to eight weeks away yet to actually catching up with the volume of refunds they are trying to <br />process at the moment. That's the impact to us. If $700,000 is where we end up, that's a lot <br />better than we had thought initially going into the budget preparation. I will keep an eye on it <br />and keep reporting back to Council if there are any significant changes. <br />Council President Schutt asked, any questions for Mr. Wynne? <br />Mr. Murphy stated, Ron, the last time you reported it, I think it was in the $300,000 range, so in <br />the past month or so it has doubled which is understandably so. <br />IcMr. Wynne stated, yes. <br />Council President Schutt asked any other questions for Mr. Wynne? <br />There were none. <br />Council President Schutt stated, thank you, Mr. Wynne. <br />There were none. <br />ROLL CALL: AYES: All Motion Carried <br />NAYS: None Financial Reports for <br />May 2022 Acknowledged <br />And Approved as Submitted <br />• First Reading of Resolution No. 2022-26, entitled, "An Emergency Resolution <br />Authorizing Mayfield Village to expend funds in an amount not to exceed $145,000.00 to <br />Wichert Insurance for its 2022 Property & Liability Insurance Renewal." <br />Mr. Murphy, seconded by Mrs. Jurcisek, made a motion to suspend the rules of Council <br />requiring a Resolution to be read on three sperate occasions. <br />ROLL CALL: AYES: All Motion Carried <br />NAYS: None Rules Suspended <br />