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Finance and public works updates: June finances steady, Mounts Park bid packet in preparation, paving near completion
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Summary
Staff reported June revenues at about 56% of budget and expenditures at about 46% year-to-date; engineers are finalizing bid documents for Mounts Park remediation and stabilization and the township’s rotary paving program is nearly complete.
Miss Elliot reported the township’s June financials, saying revenues are roughly 56% of the annual budget year-to-date and expenditures are about 46% of the budget year-to-date, putting the township broadly in line with the same point last year. She said July’s cash flow will reflect new bond activity.
Mister Wright told trustees consulting engineers are finishing a large bid packet for the first phase of the Mounts Park improvement project (remediation and stabilization) and that staff are awaiting permits from the state and the U.S. Army Corps of Engineers before bringing a contractor recommendation at the second meeting in August. He also said the township’s annual rotary paving program, contracted to Barrett Paving through Warren County, is wrapping up with only Rivers Bend neighborhood remaining, weather permitting.
Trustee Souza reported the township secured an investment-grade bond rating of double A2 for the financing of the public works project and said preliminary valuation of a planned Kroger Marketplace looks higher than earlier estimates, which could produce TIF revenue that helps fund roads and infrastructure next tax year.
Other non-financial items included event announcements: an introduction-to-kayaking class at Mounts Park on July 30 (registration full, wait list available), a planned sunflower field with blooms expected in late September and an invitation to community events including a movie in the park and the county fair.
