HomeMy WebLinkAbout2023-01-08_Sinking Fund Agenda1. Opening of Meeting
2. Approval of Minute No. 56 dated January 20, 2022
3. Approval of 2023 Debt Service Payments
(Total: $3,710,059)
4. TO BE NOTED FOR THE RECORD: It is noted for the
record that the revenues and other financing sources
budgeted for 2023 to meet the current year's obligations
are transfers from the general fund.
TO BE NOTED FOR THE RECORD: It is also noted for the
record that all members of the Sinking Fund Commission
have been provided with additional documents dealing
with the recent debt obligations through the year 2033.
These documents are available for review in the Finance
Department.
6. Adjournment
Attachments
cc: Commissioner Diana Irey Vaughan, Chair of Sinking Fund Commission
Commissioner Nick Sherman, Vice Chair of Sinking Fund Commission
Commissioner Larry Maggi
Controller April Sloane
Treasurer Tom Flickinger
Finance Director Joshua J. Hatfield
Chief of Staff Michael Namie
Chief Clerk Cynthia Griffin
Solicitor Jana Phillis Grimm
Administrative Assistant Joyce Thornburg
Secretary Paula Jansante
Minute No. 56
Washington County Commissioners
Washington, PA, January 20, 2022
The Sinking Fund Commission of the County of Washington met on Thursday,
January 20, 2022, at approximately 2:54 p.m. in the Public Meeting Room of the Courthouse
Square Office Building, Washington, Pennsylvania, with the following members being
present: Commissioners Diana trey Vaughan, Larry Maggi and Nick Sherman; Controller
April Sloane; and Treasurer Tom Flickinger. Also being present: Chief of Staff Mike Namie;
Solicitor Jana Phillis Grimm; Finance Director Joshua J. Hatfield; Chief Clerk Cynthia Griffin;
Human Resources Director Shelli Arnold; Administrative Assistant Marie Trossman;
Secretary Paula Jansante; and Prothonotary Laura Hough
Annointment of Officers
Mrs. Vaughan entertained nominations for the position of Secretary.
Moved by Mr. Sherman, seconded by Mr. Maggi to appoint Ms. Sloane to serve as
Secretary of the Sinking Fund Commission.
Roll call vote taken:
Ms. Sloane - Yes; Mr. Flickinger - Yes; Mr. Sherman - Yes; Mr. Maggi - Yes;
Mrs. Vaughan- Yes.
Motion carried unanimously.
Approval of Minutes:
Mrs. Vaughan entertained a motion to approve Minute No. 55 dated January 21,
2021.
Moved by Mr. Flickinger, seconded by Mr. Maggi, to approve Minute No. 55 as
written.
Roll call vote taken:
Ms. Sloane Yes; Mr. Flickinger - Yes; Mr. Sherman - Yes; Mr. Maggi - Yes;
Mrs. Vaughan- Yes.'
Motion carried unanimously.
Approval of 2022 Debt Service Payments
Mrs. Vaughan entertained a motion on the approval of 2022 Debt Service Payments
beginning on March 1, 2022 and ending on September 1, 2022. Debt Service Fund totals for
the year are $3,793,726.
Moved by Mr. Sherman, seconded by Mr. Maggi, to approve the 2022 Debt Service
Payments.
Roll call vote taken:
Ms. Sloane- Yes; Mr. Flickinger - Yes; Mr. Sherman - Yes; Mr. Maggi - Yes;
Mrs. Vaughan - Yes.
Motion carried unanimously.
Revenues and Other Financing Sources
It was noted for the record that the revenues and other financing sources budgeted
for 2022 to meet the current year's obligations are as follows:
Opening Balance: $0
Revenues
Real estate taxes $0
Interest earnings $0
Rent $0
Total Revenues $0
Other Financing Sources: General Fund $3,798,726
Transfer
County Authority $0
Total Other Financing $3798,726
Sources
TOTAL AVAILABLE $3,798,726
It was also noted for the record that all members of the Sinking Fund Commission
have been provided with additional documents dealing with the recent debt obligations
through the year 2033. These documents are available for review in the Finance
Department.
There being no further business, Mrs. Vaughan declared the meeting adjourned at
approximately 2:57 p.m.
THE FOLLOWING MINUTES SUBMITTED FOR APPROVAL:
2023
ATTEST:
SECRETARY