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Finance Committee accepts April financials; flags ARPA balances and recommends $50,000 transfers
Summary
Melbourne Village's Finance Committee unanimously approved April 2025 minutes and financial statements, reviewed completed capital items and a small fraud investigation, and endorsed a plan to make incremental transfers (recommended $50,000) to cover low money‑market balances and general‑fund outlays while ARPA funds remain in a separate account.
The Melbourne Village Finance Committee on May 20 unanimously approved its April 2025 minutes and financial statements and spent the bulk of the meeting reviewing recent capital expenses and ongoing cash‑management needs.
During the meeting Ross Whitley asked for—and the committee approved—a motion to accept the April minutes (motion by Teri Maxner; second by Mary Murphy). Later the committee likewise approved a motion to accept the April financial statements and place them on file for audit (motion by Sandra Smith; second by Teri Maxner).
The minutes list several completed actions: the Commission approved purchase of a replacement generator for $13,959 with installation scheduled for June 5; street repairs were completed at $11,070; a new checking‑account change revealed a $2,280 fraud that is still under investigation (the minutes note a possible connection to 'sod'); and a building‑department contract was signed to piggyback CapGov services with a non‑Brevard town. The six‑month budget‑to‑actual adjustments approved by the Commission were reflected in the financial reports presented to the committee.
Town clerk/treasurer Heather Roberts reviewed the cash and investment balance workpaper. She told the committee that the PNC money‑market account is low and will require transfers to cover upcoming expenditures. The minutes record that ARPA funds are held in an "SBA" account while the general fund has already covered related expenses; Roberts recommended moving funds in $50,000 increments and documenting each transfer on the workpaper. The Finance Committee agreed on the concept but did not record a formal transfer vote in the minutes.
Heather and a colleague, Gary, also reported a review of investments and stated that currently all funds are allocated to appropriate "buckets." No further action on investments was recorded.
The meeting record notes that Heather is assembling documentation to request an insurance refund for safety equipment purchases (the policy allows a 50% refund up to $2,000). The committee adjourned at 8:00 p.m.; its next meeting is scheduled for June 17, 2025.
