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Finance Committee approves December minutes and financials as audit work begins
Summary
Melbourne Village Finance Committee on Jan. 21 approved its December 2024 minutes and financial statements, noted the 2024 audit has started on site, and reviewed completed actions including insurance renewal, payroll reconciliations, a new copier purchase and tree-maintenance funding.
On Jan. 21, 2025, the Melbourne Village Finance Committee met at the Town Office and unanimously approved the December 2024 minutes and financial statements, placing the financials on file for the 2024 audit that began on site that day. Ross Whitley called the meeting to order at 7:17 p.m.
Committee members approved a motion to accept the December minutes (moved by Kim Zarillo; seconded by Teri Maxner) and later approved a motion to accept the December financial statements and place them on file for audit (moved by Teri Maxner; seconded by Kim Zarillo). Both motions passed unanimously with four committee members present: Ross Whitley, Kim Zarillo, Teri Maxner and Gary Howell.
Town Clerk/Treasurer Heather Roberts presented a list of completed actions for committee review: the employee insurance renewal (with staff to remove a non-existent employee from the renewal quote, which is expected to reduce the overage to less than $1,000), payroll account "true ups" (Social Security Payable, Medicare Payable, Withholding Payable) and an updated ARPA report. The committee also noted adjustments to FPL hurricane billings, the purchase of a replacement off‑the‑shelf copier for approximately $500 after the Commission canceled a Kemper contract, and the Commission's $10,000 approval for tree removal and trimming identified in town maintenance work.
Committee members reviewed cash and investment balances and noted a transfer of funds from PNC to the SBA to pursue a higher interest rate while keeping deposits under FDIC insurance limits. Heather Roberts flagged that recent Florida League investment funds were showing a loss and should be monitored. The building department net activity surplus will be reallocated to administration costs for a more realistic view of total costs; that change is on hold until the audit is finalized. Roberts also updated the ARPA funds activity report to include larger projects and alternate expenses for remaining estimated items; the ARPA reporting cycle ends in April.
The Finance Committee adjourned at 7:43 p.m.; its next meeting is scheduled for Tuesday, Feb. 18, 2025.
