HomeMy WebLinkAbout2024-01-18_Sinking Fund_Min No 58_APPROVED MINUTE BOOK 249
SINKING FUND COMMISSION WASHINGTON COUNTY, PENNSYLANIA
IMR LIMITED E1316649LD
Minute No. 58 January 18, 2024
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 Nick Sherman, Electra Janis and Larry
Maggi. Also present were Solicitor Gary Sweat;Chief Clerk Cindy Griffin and
Administrative Assistant Debbie Corson; Chief of Staff Daryl Price; Executive Assistant
Randi Marodi;Assistant Finance Director Adam Petris;Controller April Sloane and Deputy
Controller Heather Sheatler;Deputy Treasurer Lisa Rice.
Mr. Sherman called the meeting to order at approximately 10:44 a.m.
Am)ointment of Officers
Mr. Sherman entertained a motion to appoint a Chair. Ms.Janis made the motion to
appoint Mr. Sherman as Chairman. It was seconded by Mr. Maggi.
Roll call vote taken:
Ms. Sloane—Yes;Mr. Maggi—Yes;Ms.Janis—Yes;Mr. Sherman—Yes.
Motion carried.
Deputy Treasurer Lisa Rice was in attendance but did not vote and did
not object. Treasurer Tom Flickinger was absent.
Mr. Sherman entertained a motion to appoint Electra Janis as Vice Chair. Mr. Maggi
made the motion to appoint. It was seconded by Mr.Janis.
Roll call vote taken:
Ms. Sloane—Yes;Mr. Maggi—Yes;Ms. Janis —Yes;Mr. Sherman—Yes.
Motion carried.
Deputy Treasurer Lisa Rice was in attendance but did not vote and did
not object.Treasurer Tom Flickinger was absent.
Mr. Sherman entertained a motion to appoint Larry Maggi as Secretary. Ms. Janis
made the motion to appoint. It was seconded by Mr. Maggi.
Roll call vote taken:
Ms. Sloane—Yes;Mr. Maggi—Yes; Ms.Janis—Yes;Mr. Sherman—Yes.
Motion carried.
Deputy Treasurer Lisa Rice was in attendance but did not vote and did
not object. Treasurer Tom Flickinger was absent.
Mr. Sherman entertained a motion to appoint Tom Flickinger as Treasurer. Ms.Janis
made the motion to appoint. It was seconded by Mr. Maggi.
Roll call vote taken:
Ms. Sloane—Yes;Mr. Maggi—Yes;Ms.Janis —Yes;Mr. Sherman—Yes.
Motion carried.
Deputy Treasurer Lisa Rice was in attendance but did not vote and did
not object.Treasurer Tom Flickinger was absent.
250
MINUTE BOOK
SINKING FUND COMMISSION WASHINGTON COUNTY, PENNSYLANIA
IMR LIMITED E1316649LD
Approval of 2023 Debt Service Payments
Mr. Sherman 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 the 2023 Debt
Service Payments.
Roll call vote taken:
Ms. Sloane—Yes;Mr. Maggi—Yes;Ms.Janis—Yes;Mr. Sherman—Yes.
Motion carried.
Deputy Treasurer Lisa Rice was in attendance but did not vote and did
not object. Treasurer Tom Flickinger was absent.
Revenues and Other Financings 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,Mr. Sherman declared the meeting adjourned at
approximately 10:48 a.m.
THE FOLLOWING MINUTES WERE SUBMITTED FOR APPROVAL:
2025
ATTEST: �[ �
SECRETARY