HomeMy WebLinkAboutCOMM - Meeting Minutes - 47 - 1-24-2013 - SINKING FUND227
1
I Minute No. 47
Washington County Commissioners
Washington, PA, January 24, 2013
The Sinking Fund Commission of the County of Washington met on Thursday,
I January 24, 2013, at approximately 11:15 a.m. in the Public Meeting Room of the Courthouse
Square Office Building, Washington, Pennsylvania, with the following members being present:
i
I Commissioners Larry Maggi, Diana Irey Vaughan and Harlan G. Shober, Jr.; Treasurer Francis
King; and Controller Michael Namie. Also being present: Finance Director Roger Metcalfe;
4
Director of Administration Scott Fergus; Chief Clerk Mary Helicke; Solicitor J. Lynn DeHaven;
i
I Administrative Assistant Joyce Thornburg; and Observer -Reporter representative Barbara Miller.
Approval of Minutes
Chairman Maggi entertained a motion to approve Minute No. 46 dated January 19, 2012
Moved by Mrs. Irey Vaughan, seconded by Mr. Shober, to approve Minute No. 46 as
I written.
Roll call vote taken:
Mr. Namie — Yes; Mr. King — Yes; Mrs. Irey Vaughan — Yes; Mr. Shober — Yes; Mr.
P Maggi — Yes.
Motion carried unanimously.
I Public Comment
None.
Approval of 2013 Debt Service Pavments
j Chairman Maggi entertained a motion on the approval of 2013 Debt Service Payments
beginning on March 1, 2013 and ending on December 1, 2013. Debt Service Fund totals for the
year are $4,107,633.
Moved by Mrs. Irey Vaughan, seconded by Mr. Shober, to approve the 2013 Debt
�I Service Payments.
Roll call vote taken:
Mr. Namie — Yes; Mr. King — Yes; Mrs. Irey Vaughan — Yes; Mr. Shober — Yes; Mr.
Maggi — Yes.
Motion carried unanimously.
Revenues and Other Financing Sources
It was noted for the record that the tax rate for debt purposes for 2013 is 2.05 mills on
each dollar of assessed valuation. it was also noted that the revenues and other financing sources
budgeted for 2013 to meet the current year's obligations are as follows:
Opening Balance: $1,100,000
Revenues
Real estate taxes $3,035,226
228
Interest earnings 15,000 ~V4
Rent 401,318 {
Total Revenues $3,451,544
Other Financing Sources:
County Authority $0
Tourism 75,000
Total Other Financing Sources $75,000
TOTAL AVAILABLE $4,626,544
It was 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
2027. These documents are available for review in the Finance Department.
There being no further business, Chairman Maggi declared the meeting adjourned at
approximately 11:17.
THE FOLLOWING MINUTES SUBMITTED FOR APPROVAL:
f/V y 1 ,2014
ATTEST:
�.
SECRETARY
11
1