Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Municipal Finance topic
No spam. Unsubscribe anytime.
Norwich trustees transfer estate funds and adopt budget measures for 1994
Summary
Trustees voted to move large estate funds into checking to satisfy a county audit/payment request and adopted temporary appropriations and tax levy rates for the 1994 budget year.
The Norwich Township Trustees moved significant funds in 1993 and took steps to set the township’s 1994 fiscal framework.
In February trustees approved a resolution moving estate-tax funds into short-term Treasury notes; later, in a distinct action, the board voted to transfer $1,164,168.33 from an investment account into the primary checking account and to issue a warrant for $1,162,044.46 to the Franklin County Auditor related to the William Davis estate refund. The transfer and warrant were approved by motion and recorded in the minutes with trustee votes noted as unanimous where recorded.
Nut graf: Beyond the one-time estate transactions, trustees adopted temporary appropriations and a tax-resolution for 1994 that set millage rates and accepted the county budget commission’s certified rates. The board also approved routine actions such as bank-depository bidding and contract renewals that are part of annual fiscal housekeeping.
At the December reorganization trustees accepted the Budget Commission’s certification and adopted the tax rates listed in the minutes: General Fund 1.50 mills (amounts as certified), Police District Fund 1.30 mills and Fire Fund 10.00 mills. Trustees also approved temporary appropriations for 1994 and passed motions to keep trustee pay monthly and to cover insurance-rate increases for the year.
Ending: The minutes show the township completed the estate refund action and put in place the administrative budget steps needed ahead of the 1994 fiscal year; trustees will monitor audit follow-up and bank-depository arrangements.
