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Clifton Treasurer details finances: $1.19 million on hand; Haunted Trail nets $41,546
Summary
Treasurer Marilyn Barton reported a Summary of Cash Balances of $1,187,572.81 as of Nov. 30, 2017; the Haunted Trail event brought $49,790.53 in revenue and $41,546.28 net income after $8,244.25 in expenses; CIF Streetscape Phase 2 payment of $7,921.25 to J2 Engineering was recorded pending VDOT reimbursement.
Town Treasurer Marilyn Barton provided the Council with financial statements for the period ended Nov. 30, 2017, attached to the meeting materials.
Barton reported a Summary of Cash Balances totaling $1,187,572.81. She highlighted event and committee items: the 2017 Haunted Trail event generated $49,790.53 in revenue and incurred $8,244.25 in expenses, leaving a net income of $41,546.28. Committee fundraising entries included Clifton Film Festival sponsorships and Homes Tour receipts. Barton also noted a contractual payment of $7,921.25 to J2 Engineering for Streetscape Phase 2, which the Special Projects Committee submitted and expects to requisition for reimbursement from VDOT as the third draw for FY18.
The Council voted to accept the Treasurer's report, 5-0. The financial attachments provided detailed Profit & Loss schedules, event reports, and a CIF project summary; the Treasurer asked council members to advise if they did not wish to receive paper copies at the meeting.
