Finance and Administration Committee Minutes
March 7, 2011
Present: Joe Bartley, Janet English, Ellen Lustgarten, Craig Totaro, Stephen Wagner
Guest: Bob Stokes
There were no visitor comments.
The Borough spends 38% of its budget and 57% of tax dollars on the police department budget. As such Mr. Stoke, a consultant on many crime related matters, was invited to talk with the committee about issues and ideas related to community involvement, economic development, and police strategies and their effect on crime. The issue will be brought to the Economic Development Committee to determine how these issues should be followed up.
Ms. Lustgarten presented some issues to pay attention to regarding the 2011 budget. The General Fund opening balance for 2011 was $280,000, not the $108,000 originally budgeted. This was due to the sale of large properties and the accompanying payment of delinquent taxes owed on those properties. As such, the 2011 revenue for Prior Year Taxes will be lower than originally budgeted. Other under-budgeted revenue items such as recycling revenue, use and occupancy permits, lower interest on variable interest loan, etc. will likely offset this shortfall.
The Lansdowne Economic Development Corporation is currently operating with a $25,000 deficit forcing them to use reserve money for operating expenses. Although the organization’s program revenue has increased and there are plans to implement several revenue-generating projects to support local businesses, the loss of state and local funding has not yet been recouped by program income. In addition, most municipalities allocate funds to their Main Street programs. The Committee recommends to the Council that the Borough contribute $5000 to the LEDC to assist them in their work.
The audit is almost complete and may in fact be submitted before the March 31st deadline.
There were no grant updates in addition to those discussed at the Council’s Business meeting on March 2nd.
The Committee adjourned to Executive Session to discuss a personnel item.
The next Finance and Administration Committee meeting will be held on April 4th.