HomeMy WebLinkAbout2024_01-18_Sinking Fund Agenda_No. 58 WASHINGTON COUNTY
SINKING FUND COMMISSION
AGENDA
WASHINGTON COUNTY
Pennsylva�a=1781=
Thursday, January 18, 2024
1. Opening of Meeting
2. Appointment of Officers
3. Approval of Minute No. 56 dated January 20, 2023
4. Approval of 2023 Debt Service Payments
(Total: $3,710,058.76)
5. 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.
It is also noted for the record that all members of the Sinking Fund Commission
were provided with additional documents detailing the recent debt obligations
through the year 2033. These documents are available for review in the
Finance Department.
6. Adj ournment
Attachments
cc: Commissioner Nick Sherman, Chairman
Commissioner Electra S. Janis, Vice Chair
Commissioner Larry Maggi
Controller April Sloane, Sinking Fund Secretary
Treasurer Tom Flickinger
Assistant Finance Director Adam Petris
Chief of Staff Daryl Price
Chief Clerk Cynthia Griffin
Solicitor Gary Sweat
Administrative Assistant Debbie Corson
Minute No. 57
January 19, 2023
The Sinking Fund Commission of the County of Washington met in Public Meeting Room G-
16,in the Courthouse Square at 95 West Beau Street,Washington, Pa.,with the following members in
attendance: Commissioners Diana Irey Vaughan,Larry Maggi, and Nick Sherman.Also present were
Solicitor Jana Grimm; Chief Clerk Cindy Griffin and Administrative Assistant Joyce Thornburg; Chief
of Staff Mike Namie;Executive Assistants Marie Trossman and Randi Marodi; Financial Director Josh
Hatfield; Controller's Office Representatives Deputy Heather Sheatler,Joelle McWreath and Brittany
Mosco;Treasurer's Office Representatives Deputy Treasurer Lisa Rice and Donna Connell; and
residents Bruce Bandel, Bonnie Rankin, Corey McConn.
Mrs. Vaughan called the meeting to order at approximately 2:53 p.m.
Approval of Minutes
Mrs. Vaughan entertained a motion to approve Minute No. 56, dated January 20, 2022.
Moved by Mr. Sherman; seconded by Mr. Maggi, approving Minute No. 56, as written.
Roll call vote taken:
Mr. Sherman—Yes;Mr. Maggi—Yes;Mrs. Vaughan—Yes.
Motion carried.
Representatives from both the Controller's Office (Heather Sheatler); and the Treasurer's Office
(Lisa Rice) were in attendance but did not vote and did not object.
Approval of 2023 Debt Service Payments
Mrs. Vaughan entertained a motion on the approval of the 2023 Debt Service Payments
beginning on March 1, 2022 and ending on September 1, 2022. Total debt payments for the year are
$3,710,058.76 and
Debt Service Fund totals are $3,715,059.
Moved by Mr. Sherman; seconded by Mr. Maggi, approving Minute No. 56, as written.
Roll call vote taken:
Mr. Sherman—Yes;Mr. Maggi—Yes;Mrs.Vaughan—Yes.
Motion carried.
Representatives from both the Controller's Office (Heather Sheatler); and the Treasurer's Office
(Lisa Rice) were in attendance but did not vote and did not object.
Revenues and Other Financing Sources
It was noted for the record that the revenues and other financing sources budgeted for 2023 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 3,715,059
Transfer
County Authority 0
Total Other Financing Sources 0
TOTAL AVAILABLE $3,715,059
*Includes $5,000 budgeted for administrative costs.
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 2:58 p.m.
THE FOLLOWING MINUTES WERE SUBMITTED FOR APPROVAL:
, 2023
ATTEST:
SECRETARY