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Council Minutes of 10/21/2003
<br />contracts on May 3, 2003. The local participating agency program (LPA) is relatively
<br />new. The current policy was issued on January 25, 2001, and it supercedes the policy
<br />effective November 17, 1997. So, this is the first time the city has utilized this funding
<br />method and grant program. This has been a learning process which will help in future
<br />projects. For this project, the city will be fronting the money to pay the contractor, and it
<br />will take about four weeks for ODOT to reimburse the city. That reimbursed money will
<br />then be used to pay the next installment to the contractor, and the city will be reimbursed
<br />again. The city will be fronting about $250,000 the first time, and then after that it will
<br />all be ODOT reimbursed money. The cost for interest lost on the money for about a
<br />month at .0065% is $13 5.
<br />Councilman McKay, chairperson of the Finance Committee: 1) The Finance Committee
<br />met on Tuesday, October 14. In attendance were committee members Limpert, Kasler
<br />and McKay; Councilpersons Gazeau, Nashaz, Miller and Dailey; Mayor Musial, Law
<br />Director Dubelko, Finance Director Copfer, Safety Director Jesse, Springvale Manager
<br />Young, Fire Chief Klecan and Bus Manager Terbrack; guests. The following agenda
<br />items were discussed:
<br />^ The financial condition of Springvale. Expenses were reduced by $212,650. This
<br />still leaves a shortfall of $90,000 which must be transferred from the General Fund.
<br />The reduction in expenses included $82,000 from the Operations, $42,571 from Bond
<br />Retirement, $62,775 from the City Administration, $25,304 from the employer's
<br />share of Hospitalization. The revenue that was lost due to the weather from May to
<br />September was $123,000. Lost from the ballroom cancellations was $36,800. The
<br />proposed revenue for 2003 for the whole operation was $1,250,000, which is based
<br />on 34,000 rounds of golf. The ballroom income was estimated at $400,000. Wet
<br />weather and cancellations aze responsible for the lack of revenue along with the
<br />downturn in the lower economy. Springvale is below projections by 22%. The
<br />Metropolitan Golf Course is below projections by 20%; Westlake by 23%, Briarwood
<br />by 9% and the Links by 10%. A resident asked what the cost would be for the audit
<br />at Springvale and was informed that the city does not have any information on the
<br />audit at this time.
<br />• Ordinance 2003-135, an ordinance to make and transfer appropriations for current
<br />expenses and other expenditures for the City of North Olmsted for the yeaz ending
<br />December 31, 2003. The transfers are in the following divisions and line items:
<br />Building inspection staff was reduced by $5,000; Operations was increased by
<br />$5,000. Under General Administration reductions included longevity by $10,000,
<br />retirement and vacation by $40,000, and hospitalization by $100,000. Transfer to
<br />Springvale was $90,000. Springvale Outside Services was reduced by $7,000, City
<br />Administration Fee by $62,775, Organization and Travel by $1,000, License and
<br />Permits by $1,500, Hospitalization by 525,304, Gas and Oil by $5,000, Maintenance
<br />and Supplies by $18,000, Utilities by $20,000, Capital Improvements by $6,000,
<br />Outside Service and Maintenance by $7,000; Equipment Maintenance by $5,000,
<br />Bond Retirement principal by $42,571. Due to the fact that the city had failed to
<br />request the state to pay the contractor of Lorain Road directly and the city has to
<br />make the payments, proof of payments must be sent to ODOT for the
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