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Village Examines Finances

February 20, 2012

NEW BREMEN — An area village took a look at its finances during a special meeting this weekend.

New Bremen Village Councilors met on Saturday morning to discuss capital projects to go ahead with this year.

To begin, Village Administrator Wayne York noted the village ended up spending approximately $400,000 more on capital projects in 2011 than it planned.

“That brought us down to an actual cash balance of the first year of $174,000 in the Income Tax Fund,” York said, adding that amount already showed the encumbrances from carry-over projects.

York noted the village received its first income tax settlement on Jan. 31, bringing the village’s balance to $620,000.

“Twice a year we have to send out operating transfers to help the General Fund, Street Fund, to the parks to the pool, to the Lockkeeper’s House, we usually try to do those in May and in December,” he said. “They’re big numbers, so you immediately have to start thinking, ‘OK, we have to cover this.’”

York gave councilors a projected amount for tax receipts per quarter based on 2011 receipts and an estimated number for transfers — with the village generating approximately $2.7 million, not including the transfers.

“By doing Bear and these other expenses of $400,000 last year, that ran our year-end cash balance down to a less-than-comfortable level, $174,000 is less than comfortable,”  York said. “So — I think a half a million is the target for year-end.”

Councilors then went down the list of “wish list items” from the village departments — not including the electric fund because it is self-sustaining — discussing each project.

For 2012, councilors approved the following projects: Improvement to the Bremenfest parking lot, additional water test wells, improvements to the New Bremen Parks Department building, the purchase of a new parks department mower, the purchase of a 3/4 ton, four-wheel drive pickup truck, the purchase of a new fire department tanker, replacement of the South Main/Franklin Street sanitary sewer, asphalt resurfacing of East Second Street and other various locations, the purchase of an additional tornado siren for the Amsterdam Road area, replacement of the Lions Park storm sewer, driveway wingwalls at the Lockkeeper’s House, replacement of the backhoe and preparing for lagoon dredging. Councilors decided to wait on three projects to not include in the 2012 budget pending income amounts: Replacement of the First Street sanitary sewer and water main, a sewer lift station stand-by generator and a water treatment plant stand-by generator.

The next regularly scheduled meeting of the New Bremen Village Council is at 6:30 p.m. Feb. 28 at the municipal building.

 

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