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Minutes of a Meeting of the North Olmsted Parks and Recreation Commission March 5, 2007 percent reimbursement. Ms. Copfer said it was a property tax roll back. A residential owner- occupied home gets money from the state so that you don’t have to pay ten percent of your taxes. It’s a rollback; however, that could change at any point in time, and the residents would be responsible for that. There is also a 2.5% senior citizen reduction. Mr. Baxter asked about the commercial activity tax reimbursement. Ms. Copfer said that the state keeps reducing certain taxes. It’s getting phased it; so the City won’t know for a while yet how it will affect the City. Mr. Baxter said it doesn’t matter, but it’s not based on millage, so how do you decide how much the Rec should get. Mr. Copfer said the Rec gets all of it that’s associated with millage because it’s a replacement tax. It gets separated into all the funds that get tax revenues which would be the general fund, the general obligation, bond retirement, library, sewer, fire and police pension and Rec. It’s allocated on the same percentages. Ms. Copfer wanted to know if there were any other questions. Ms. Kanis said she called Mr. DiSalvo today and had her questions answered. Mr. Baxter asked the Commissioner if he had more money to spend than was thought because there were last year’s carryovers. Ms. Copfer said that every year the Rec has some carryover; it’s not really a surplus, it just goes back into the Rec’s budget, the Commissioner continued. Ms. Copfer said that for 2007 there is a $16,000 carryover. We plan on getting $1.1 million from property taxes and $1.6 million from other sources, which is charges for services; so that there would be a total of $2,334,000 in estimated resources for 2007, and the Rec is budgeting to spend $2,321,000. There will be $13,000 left over if everything goes as planned. Mr. Dailey thanked Ms. Copfer for her excellent presentation, as did Ms. Kanis. Ms. Copfer said that the Rec Department tells her they are pulling the same information in an Excel spreadsheet, but they are pulling it from the Finance Department’s accounting system. They are the ones who are tied to the bank and handle the audit. This happened at Springvale where there was a mistake in their spreadsheet, and it was throwing it way off, but internal management was looking at it. Always use information from the Accounting Department. A year ago, we started doing daily th deposit recording; it used to be once a month spreadsheet. It would be the 15 of the next month, and by the time the Finance Department balanced it to the bank account, it would mean two months. So at any point in time, Rec can look in the system and see where they’re at. If anyone comes up with any questions or concerns, you can go to the City’s website under Finance, or you can go to the Auditor of State’s website so you can browse and peruse and look at whatever you want without having to print it all out. Mr. Dailey said Carrie is one of the few Finance Directors that receives awards for her financial reporting to the state. She does a good job. copferc@north-olmsted.com Carrie then gave her e-mail address: Page 6