Golf Manor finance committee reviews April balances, benefits-pool outlook and year-end encumbrance errors

Golf Manor Village’s Finance Committee reviewed the village’s April financial report, an insurance-pool update and an accounting issue that will require temporary appropriation adjustments.

“For the month of April fiscal year of 2025, [the village] had a combined bank balance of $4,078,623.02,” finance staff member Eric said, adding that $251,230.44 was in the village’s primary checking account and $2,127,232.94 was in a high-interest savings account. Eric also reported $91,199.30 in general-fund income-tax receipts for April and a first biannual real-estate-tax disbursement of $1,357,428.32 from the Hamilton County Auditor.

The committee’s nut graf: the numbers show available cash, ongoing revenue gains and some year-end accounting cleanup that will affect this year’s appropriations. Eric said the village has earned new interest income from a savings program (about $10,000 combined over the month) and noted that homestead rollback funds from the State of Ohio were still outstanding at the time of the reconciliation.

During the budget items segment, staff member Luis explained an encumbrance lapse: purchases made in 2024 were not recorded as encumbered and instead were paid against 2025 budgets. “Somehow, it got missed,” Luis said. He told the committee that roughly $67,000 of year-end surplus should be adjusted downward by about $14,000 for those purchases, and that staff would recommend a temporary appropriations amendment so affected line items remain solvent for 2025.

The committee also received a report on the Center for Local Government Benefits Pool, the health-insurance pool the village joins. Staff said the pool now expects about a 5.5% increase in medical costs for 2026, down from earlier projections in the high single digits; staff discussed a recommendation to move to a less costly prescription-drug plan that could save roughly $200,000 across the pool. A speaker cautioned that reserve and actuarial numbers mentioned during the pool briefing were approximate and should be confirmed before relying on them for final budget decisions.

The committee did not take a final vote on a budget adoption at the meeting; staff said a draft of the full 2026 appropriations will be presented in June with a public hearing and a July approval opportunity.

Less-critical details: the report listed 30 outstanding payments totaling $33,147.63, and staff said they will continue to monitor appropriation spend and make adjustments as necessary.