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<br />Sgni-Annual Debt Interest Payment <br />On Jury 1st I paid $546,612.62 in semi annual interest expense on <br />$11,660,772 of outstanding bond debt. <br />Real Estate Tax <br />Yesterday I received the recap of 1st half Real Estate, Public <br />Utilities, and Special Assessment taxes. By the end of this month we <br />will have received $2,431,299.30 of which $1,291,146.81 belongs to the <br />General Operating FLu~d. This is up $199,372.73 and $226,244.80 <br />respectively from the same period last year and does not ac~cnunt for <br />increases in Personal Property Tax. <br />East Ohio Gas <br />I met with Mr. Robert Zufall of East Ohio Gas and made <br />arrarx~esrents to have all gas bills mailed directly to the Finance <br />Department at 5200 Dover Center Road and to include a written <br />explanation of where the gas was consumed. Over the years, as new <br />installations were put on line, the bills would be mailed to the <br />address of the meter or the old houses. Gas bills were going to sewer <br />lift stations and everywhere and then being forwarded to the Finance <br />Departrtient for paymnt via inter-office mail. The variety of names <br />used on the bill made it almost impossible for East Ohio Gas to survey <br />the Cities usage. The could only identify 4 of the 12 meters. <br />These actions will riot only allow a proper survey and monitoring <br />of gas consumption but also insure .accurate posting of expenses by <br />future finance department personnel and timely payments. <br />I ordered an 18 month survey of gas consumption to be delivered <br />later this moa~th as well as schedule one annually. This will assist <br />future department heads and administrations with their expenses. <br />19f~7 Audit <br />The 1987 audit by Arthur Young and Cccnpany has been submitted to <br />the Auditor of State and should be released soon. Our copies are <br />currently at the printer for duplication and I will forward them on to <br />you as soon as they are available. <br />P.E.R.S. <br />Upon reoa~erLdation of its actuary, the P.E.R.S. Board agreed to <br />continue the same rates in 1990 as are in effect this year. Those are <br />13.95$ paid by the employer and 8.5$ paid by the employee. <br /> <br /> <br />