Jackson Center council creates fund, talks finances

Staff report

JACKSON CENTER — The Jackson Center Village Council met Monday to create a fund, move around some money, and discuss finances.

The council voted to pass a resolution creating an enterprise improvement fund. Village Administrator Bruce Metz explained this resolution is necessary to create a fund for a pass through for the grant money the village will receive for the water line project at the school for an upgrade from a six-inch to a 12-inch line. They have $35,000 from the Community Development Block Grant for the material for the job.

They also voted to approve an ordinance authorizing certain adjustments in the 2016 annual appropriations of public funds for the village during the 2016 fiscal year. Metz again explained this ordinance is necessary to make adjustments in appropriations for the $35,000 grant money that will be received to purchase the materials for the Davis/Linden Streets water main project.

Council Member Larry Wahrer reported the Finance Committee met prior to the council meeting and May was another good month. The month to date revenue exceeded month to date expenses by about $33,000. The income tax receipts were just over $129,000 for the month of May.

Wahrer reported the village is running about 33 percent ahead of last year and if you compare income tax receipts for the first five months of 2009 to the first five months of 2016 they are $302,000 ahead. Wahrer went on to say they had many expenses including purchasing gravel for Hamer Street and they paid off the dump/snow truck we purchased in 2011. The ending balance is about a half a million ahead of last year.

The next village council meeting is scheduled for July 11, 2016, at 7 p.m. in council chambers.

Staff report