03/04/2025 Meeting Minutes - Laserfiche WebLink

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Sewer Fund Revenue is following the rate plan for North Olmsted residents per ordinance, which rates increased 2%. Note that while we received a good amount of tap -in fees in 2024, we traditionally do not budget tap in fees as they vary based on new development in the city and are intended for capital, not to use for operations. Olmsted Township is billed by CDW as well to each user, but the rates are determined based on calculations from contractual agreements and will be based on 2025 budgeted costs. Fairview Park is a master meter calculation based on operations and capital agreements, but estimated based on 2024 actual costs per met. Nom two other one-time revenue source items in 2025 are planned for: • $1,250,000 a federal reimbursement for the Clague Rd force main project that was completed mid -2024 • The OWDA loan for the Spruce EQ basin project that we will receive in mid -2025. We have advanced monies from the fund balance reserve to start the project due to certain timing issues with land clearing. Healthcare premiums paid into the self-insured healthcare fund were reduced to 11 months this year as the fund balance is deemed adequate. This was an effort to use our financial flexibility, to keep more resources in the General Fund. Transfers and advances between funds— Attachment 3 In 2025 funds are not being transferred to the Separation Pay Fund, the Budget Stabilization Fund, or the Casualty Loss Fund. These too are efforts to utilize our financial flexibility to keep more resources in the General Fund, with weighing against the adequacy of these funds. The separations slowed down last year and it is anticipated to continue for this year, so the reserve will be adequate. The Casualty Loss Fund had received significant influx of transfers from the General Fund in the last two years for traffic infrastructure damage from accidents; however, we have eventually received some insurance proceeds from the peoples' insurance. These reserves are reviewed quarterly, One-time transfers include the General Fund transferring $425,000 to the Sidewalk Maintenance Program, and the Recreation Fund transferring the tower lease for the park to the capital improvement fund. The 2701 Pay Fund does have transfers planned this year as 2026 is when the 27th pay year occurs. The debt transfer for payment of the bonds and loans is based on the debt service requirements — with the debt service for Recreation coming completely from the GO Bond Retirement Fund as well as a portion of Springvale, debt service. IN