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EXHIBIT 2015-020
VILLAGE OF CAYUGA HEIGHTS
TREASURER’S REPORT
May 18, 2015
1. Audit
FYE2014 external audit has been completed by CDLM. Written report is available in the Clerk’s Office.
2. Budget
a. Constitutional Tax Limit reporting has been submitted and accepted by NYS OSC.
b. Real Property Tax Cap reporting has been submitted and accepted by NYS OSC.
c. The Village’s FYE2016 Adopted Budget and all required supporting schedules have been submitted
and accepted by NYS OSC.
d. The Adopted Budget has been posted on the website.
3. Tax Levy
The Tompkins County Board of Assessment is in receipt of all information required to produce the tax
statements for year 2015. Delinquent water payments of $19,351.28 and delinquent sewer payments of
$5,355.21 have been relevied for collection onto the tax bills.
3. Bond and BAN Financing
a. May 15, 2015 an interest only payment in the amount of $10,950 is due on the fire station.
b. On May 22, 2015 the Water Improvement Bond Anticipation Note (BAN) of $700,000 will be paid
with $250,000 from the Water Fund (F) and a five year Statutory Installment Bond of $450,000.
Tompkins Financial is the financing institution; the interest rate of 2.35%. The Finance Committee
met on May 14, 2015 to review payment options. Mayor Supron joined the meeting providing a
quorum and a resolution was passed to proceed with the financing as stated.
5 Year Term 75,000.00$ 700,000.00$
pay down amt financed 175,000.00$
250,000.00$
FYE2016 FYE2017 FYE2018 FYE2019 FYE2020
450,000.00$ 360,000.00 270,000.00 180,000.00 90,000.00 -
90,000.00$ 90,000.00 90,000.00 90,000.00 90,000.00 90,000.00
2.35%10,575.00 8,460.00 6,345.00 4,230.00 2,115.00
TOTAL ANNUAL PYMT 100,575.00 98,460.00 96,345.00 94,230.00 92,115.00
FYE2016 BUDGET 75,000.00 principal
25,000.00 interest
4. Revenues & Expenditures – April 2015 reporting
5. Current Expenses - Unaudited Abstract #16 dated May 18, 2015 as distributed.
6. Approval of May Abstract –
BE IT RESOLVED THAT: Abstract #16 for FYE2015 consisting of TA vouchers 103 - 111 in the amount of $
16,001.11 and Consolidated Fund vouchers 859 - 934 in the amount of $ 218,263.65 is approved and the
Treasurer is instructed to make payments thereon.
7. Special Board Meeting
Requesting an additional May meeting of the Board on May 28 for the audit and approval of Abstract #17. Creation
of an abstract listing as many remaining FYE2015 vouchers as possible reduces the number of required accruals
to close the fiscal year.
Respectfully submitted,
Joan M. Mangione