HomeMy WebLinkAboutCOMM - Meeting Minutes - 52 - 1-17-2018 - SINKING FUND1
Minute No. 52
Washington County Commissioners
Washington, PA, January 17, 2018
The Sinking Fund Commission of the County of Washington met on Wednesday,
January 17, 2018, at approximately 2:41 p.m. in the Public Meeting Room of the Courthouse
Square Office Building, Washington, Pennsylvania, with the following members being
present: Commissioners Larry Maggi, Diana Irey Vaughan and Harlan G. Shober, Jr.;
Treasurer Francis King; and Controller Michael Namie. Also being present: Director of
Administration Scott Fergus; Finance Director Joshua J. Hatfield; Solicitor J. Lynn DeHaven;
Chief Clerk Cynthia Griffin; Administrative Assistant Joyce Thornburg; Executive Secretary
Randi Marodi; and Observer -Reporter representative Barbara Miller.
of Minutes
Mr. Maggi entertained a motion to approve Minute No. 51 dated January 19, 2017.
Moved by Mrs. Vaughan, seconded by Mr. King, to approve Minute No. 51 as written.
Roll call vote taken:
Mr. Namie - Yes; Mr. King - Yes; Mrs. Vaughan - Yes; Mr. Maggi - Yes;
Mr. Shober - Yes.
Motion carried unanimously.
ADDroval of 2018 Debt Service Pavments
Mr. Maggi entertained a motion on the approval of 2018 Debt Service Payments
ing on March 1, 2018 and ending on September 1, 2018. Debt Service Fund totals for
lthe year are $3,550,811.
it Moved by Mrs. Vaughan, seconded by Mr. Shober, to approve the 2018 Debt Service
Wayments.
Roll call vote taken:
't Mr. Namie - Yes; Mr. King - Yes; Mrs. Vaughan - Yes; Mr. Maggi - Yes;
Mr. Shober - Yes.
Motion carried unanimously.
Revenues and Other Financine Sources
It was noted for the record that the tax rate for debt purposes for 2018 is 0.17 mills
each dollar of assessed valuation. It was also noted that the revenues and other
ancing sources budgeted for 2018 to meet the current year's obligations are as follows:
Opening Balance:
Revenues
Real estate taxes
Interest earnings
Rent
$931,135
$2,708,217
8,000
377.532
99
Total Revenues $3,093,749
Other Financing Sources:
County Authority $0
Total Other Financing $0
Sources
TOTAL AVAILABLE $4,024,884
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 2033. These documents are available for review in the Finance Department.
There being no further business, Mr. Maggi declared the meeting adjourned at
approximately 2:42 p.m.
THE FOLLOWING MINUTES SUBMITTED FOR APPROVAL:
2018
ATTEST. /'� ✓/��^% - X
SECRETARY
7