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Finance Committee reviews monthly spending and flags roughly $200,000 in cyber breach costs for council action
Summary
Finance staff reported departments are generally on track but service spending is elevated after a $250,000 intersection payment; staff will request an appropriations amendment of about $200,000 at the next council meeting to cover cyber breach remediation expenses that the village must front before insurer reimbursement.
Speaker 2 presented a monthly appropriation overview and targets for committee tracking, explaining the monthly target is approximately 16 2/3% of annual appropriations and the payroll benchmark is about three pay periods out of 26 (roughly 11.5%) because the village pays biweekly. He said admin/clerk combined were at about 14.1%, within expectations, while the service department is higher mainly because of a recent intersection…
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