04.15.24 MEETING MINUTES - Laserfiche WebLink

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Minutes of the Regular Meeting of Council Monday, April 15, 2024 Page 4 expenditures, exclusive of year-end transfers, were $15.8 million, down a little from $16 million in expenditures for 2022. What that means is that for 2023 our earnings exceeded our spending, so that is good. Our general fund balance as of Dec 31, 2023 was $42.2 million, an increase of about $200,000 from Dec 31, 2022. Careful spending and favorable interest rates on the Village's reserves have allowed us to maintain that balance. We ended 2023 with total outstanding debt of a little under $2 million, down from $16.3 million in 2010. We currently have the funds set aside in the debt retirement fund to pay off our remaining debt and will do so when it is economically beneficial and permissible. I pointed out last year that when I first took office, the Village's general fund balance was $12.3 million. It grew to its current level as the result of careful planning and even more careful spending. Under the watchful eye of Ron Wynne, we have been conservative about spending throughout my tenure, but even more so since the pandemic. We have spent cautiously, continuing to limit capital projects, maintain budget levels, and maximize grant opportunities. 2023/2024 CAPITAL PROJECTS • Civic Center ADA and Energy Efficiency Improvements. During 2022, we successfully applied for a $250,000 grant from Cuyahoga County to continue to make improvements to our Civic Center. The grant utilized Federal funds from the American Rescue Plan Act. Our grant application focused on Civic Center ADA and energy efficiency improvements, including exterior door and window replacements, a new HVAC unit, interior door replacement, ramp construction for access to Reserve Hall, and website upgrades for ADA compliance. The design phase of this project has been completed and bids were opened last Friday. Council's approval of recommended contractors will be sought in the coming weeks with work expected to take place this summer. • Improvements at The Grove. The Village also successfully applied for second round of County ARPA funding to install permanent restrooms at The Grove. As you have probably all seen, work on this much -needed infrastructure project began in February and it is coming along very well and is expected to be completed in the next several weeks, in time for our summer season. • Worton Park Culvert Replacement Project. Phase 1 of the Worton Park Culvert Replacement Project, which included replacing two culverts, was completed last fall. Three additional culverts still need to be replaced on Norman, Woodlane, and South Woodlane. $1.3 million has been budgeted for this project and we continue to work with the Sewer District to develop the best possible plan. The acquisition of two properties is underway to allow more natural