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Timberlake posts annual General Fund surplus but records $40,170 monthly deficit in December
Summary
Fiscal Officer John H. Roskos reported a General Fund year‑end surplus of $133,046.62 for 2024 but a December monthly deficit of $40,170.16; higher uniform expenses and early pension withholdings were cited as drivers.
Fiscal Officer John H. Roskos told the Village of Timberlake council on Jan. 21 that the Village closed Dec. 31, 2024 with a General Fund balance of $458,539.85 and a year‑to‑date surplus of $133,046.62, which included a $15,000 transfer to a Police Cruiser Capital Fund.
Roskos reported December revenue of $22,241.95 against expenditures of $62,412.11, producing a monthly deficit of $40,170.16. He attributed the month’s higher spending to unbudgeted uniform and clothing expenses (including vests) and the early payment of OPERS and Ohio Police and Fire withholding for December. December revenue was also $3,758.05 less than estimated, though overall revenue for 2024 was $96,320.42 higher than the prior year; income tax revenue rose by $87,916.74 year over year.
Council moved to approve the December 2024 financial reports during the meeting; Mrs. Marra made the motion and Mrs. Joyce seconded. The motion carried with all voting in favor. Fiscal Officer Roskos also provided a brief annual financial summary of all village funds for 2024.
