02.20.23 MEETING MINUTES - Laserfiche WebLink

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Minutes of the Regular Meeting of Council Monday, February 20, 2023 pg. 3 So, in total with the General Fund, we end up the year with a budget balance of $36.7 million. The total deficit for the year is $5.2 million. Of that $5.2 million, $4.2 million is from operations and the other $1 million will be transferred out of the General Fund to cover the road projects for the year. Are there any questions on the General Fund numbers? There were none. The next Fund is the Street Construction Maintenance and Repair. This will highlight the $1,671,000 in revenue. $1,000,000 of that again is the transfer from the General Fund and $425,000 is also the transfer from the General Fund but represents the grant money that is coming in for the road projects. With the expenditures of $4,083,000, $535,000 of that is money that is still owed on the 2022 projects. We have four main road projects planned for this year. Some might happen, some might end up being pushed into next year. We have the Phase II Worton Park Project which is budgeted at $1.3 million. We have our General Asphalt Resurfacing Project which is $900,000. We have the Road Project on Ridgebury which is $600,000 and on Wilson Mills, in conjunction with the County and Highland Heights, it's $250,000. In addition to that, there's $150,000 in the budget for the traffic signals with the school and Highland Heights at the new driveway opening that is going to be at Miner Road. The Community Room revenue is $225,000. $175,000 is the insurance proceeds coming in due to the water damage project. $175,000 is in the expenditure side for the work that is being done. Civic Center revenue is $250,000. That's the ARPA grant we are getting from the County. We are figuring $325,000 of the expenses are for the energy -efficient upgrades we are doing to this facility with those funds. At the end of the year, we are going to have $2.3 million in our Debt Retirement Fund. Outstanding at the end of the year with interest will be $2,044,000. We have about $300,000 extra in the Debt Retirement Fund. So, if we are in a position where either this year or in future years we need to borrow funds for capital projects, this money would be able to make installment payments on that financing. That position will be good. We can borrow some funds and be able to pay it down without having to go into the General Fund immediately to make the payments owed on that. With regard to the Capital Improvement Budget, $1 million of that revenue is for photo enforcement, $2,156,000 in expenditures, $400,000 are for the professional fees we have to pay for the photo enforcement. We owe $490,000 on 2022 projects that have not been completed yet and for cars and vehicles that we ordered and are still waiting for them to come in. In 2023, we have $325,000 budgeted for the Aintree North sidewalks, $275,000 for various concrete improvements throughout the Village and $650,000 for a variety of vehicles and equipment needs for all of the departments. The last item is the Sanitary Sewer Conversion Fund. The money is there for sanitary sewer relief for Aintree Park. This is something that's been recommended to us several years ago by the Sewer District to invest money on flooding issues we had in that neighborhood. We kept pushing it and