HomeMy WebLinkAboutDocumentation_Planning and Zoning_Tab 01_1/21/2021 (2)Agenda Item #1.
Infrastructure Surtax Oversight Committee
STAFF MEMO '
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Meeting: Infrastructure Surtax Oversight Committee - Jan 21 2021
Staff Contact: Nilsa Zacarias, Director of Department: Community Development
Community Development
Discussion of the 2020 Village Surtax Expenditure Report
Discussion of the 2020 Village Surtax Expenditure Report
infrastructure surtax cover memo 2020
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Agenda Item #1.
TO:
FROM:
DATE:
SUBJECT:
Memorandum
Village Infrastructure Surtax Citizen Oversight Committee
Hugh B. Dunkley, Finance Director
December 17, 2020
Infrastructure Surtax Annual Report — FY2020
During the fiscal year ended September 30, 2020, The Village elected to use infrastructure surtax funds on the
following qualified expenditures:
Description of Expenditure
Country Club Sidewalk Replacement Project —Phase
Harris Portable Radios — NorthComm (Police)
Pathway Maintenance — FY2019 Adjustment
Total FY2020 Expenditures
Amount
173,013.65
129,008.03
10,836.50
312,858.18
Please find below a summary of the revenue and expenditures to date as September 30, 2020:
Fiscal
IMP-.
lapIMP
Date or
Revenue Received
$282,840.01
$411,020.73
$422,754.30 404,869.99
$1,521,485.03
Investment Income
-0- -0- -0- 3,484.26 3,484.26
Balance at End of Year $219,565.01 -0- $422,754.30 $518,250.37 $518,250.37
Please bear in mind that the balance at the end of the reporting period does not take into account the purchase
of a new rescue vehicle which was ordered during FY2020 but which has not yet been received. The total cost
for this vehicle is $298,660.28. As such, the unencumbered balance of the infrastructure funds at the end of
the year amounts to $219,590.09. This remaining balance is restricted for future infrastructure projects.
If you have any questions, please do not hesitate to contact me at 561.768.0424.
cc: Jeremy Allen, Village Manager
Nilsa Zacarias, Community Development Director
Doug Chambers, Director of Public Works
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