HomeMy WebLinkAbouttreasreport12-May2012.pdfVILLAGE OF CAYUGA HEIGHTS
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TREASURER’S REPORT: MAY 14, 2012
1. Financial Reporting – April FYE2012 balance closing is in progress.
2. Abstract – As distributed.
3. Bond and BAN Financing –
The Finance Committee recommends full payment of the $230,000 BAN
financing the Fire Truck. The BAN is due on May 31st. General Village funds
will be used for the payment.
RESOLVED approve payment in full to Chemung Canal Trust Company in the
amount of $233,680 to retire debt on Bond Anticipation Note, 2011 financed for
the acquisition of a fire engine, including apparatus and incidental costs from
General Fund Surplus.
The Finance Committee further recommends the payment of $75,000 to
Tompkins Financial to reduce the debt incurred for the repair of the Village
Water System and renewal of a BAN for the remaining $850,000 at 1.5% for
one year. Water funds are to be used for the payment.
RESOLVED approve payment of $75,000 to Tompkins Financial to partially
retire debt on Bond Anticipation Note, 2011 financed for upgrades to the
Village’s water system from Water Fund Surplus.
RESOLVED approve renewal of a Bond Anticipation Note for the remaining
$850,000 at 1.5% for one year with Tompkins Financial financed for upgrades
to the Village’s water system.
4. Revenues – Balances as of April 30, 2012
Deposits: $280,690.17
Expenditures: $255,647.50
Checking and Savings: $2,823,751.13
5. Budget – Adopted and submitted to NYS OSC.
FYE2012 Budget Modifications: Appropriate from A1990.400 Contingency
A1110.410 Justice – Contractual
Additional $1,000 due to computer issues
A1325.410 Treasurer – Contractual
Additional $1,000 due to use of contractor
A1410.410 Clerk – Contractual
Additional $2,330 due to training and higher cost of supplies
A1420.410 Attorney – Contractual
Additional $5,000 due to ZBA issues
A1620.410 Village Hall – Contractual
Additional $1,000 due to unforeseen costs
A1640.410 Central Garage – Contractual
Additional $6,500 due to unforeseen equipment repairs
VILLAGE OF CAYUGA HEIGHTS
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FYE2012 Budget Modifications: Continued
A1680.410 Info Tech – Contractual
Additional $4,000 due to computer issues
A5142.490 Snow – Equipment Maintenance
Additional $4,643.69 due to unforeseen equipment failure
A8020.400 Planning – Contractual
Additional $2,625 due to preparation of Comprehensive Plan
A8160.490 Refuse – Equipment Maintenance
Additional $2,500 due to unforeseen equipment repairs
FYE2013 Budget Modification:
Remove Mayor’s mobile phone plan from the Village’s group plan and
add monthly reimbursement.
RESOLVED to approve modification of the Mayor’s compensation to include
$100 a month for mobile phone reimbursement.
6. Transfers – Transfers this month to Trust & Agency sufficient to cover payroll, ADP
fees, and Retiree Health Benefits. Funds were transferred from Savings sufficient to
cover March’s Abstract.
7. Audit – No activity.
8. Approval of Abstracts – (Resolution Required)
RESOLVED to approve Abstract #12 consisting of vouchers #1084 - 1164 in
the amount of $234,858.30 and instruct the Treasurer to make payments
thereon.
9. Request for a Special Board Meeting May 30, 2012 for review and approval of Abstract
#13. Abstract #13 will cover vouchers received and processed representing expenses
for FYE2012 enabling a “cleaner” close of the Fiscal Year.
Respectfully submitted,
Treasurer