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Oh,mmtncr Road <br /> Y' t <br /> PERSONNEL AND FINANCE <br /> U!r the Qlrmmon Council of the 014 of Doutli I41eub: <br /> The August 7 , 1987 meeting of the Personnel and Finance <br /> Committee was called to order by its Chairman, Councilman <br /> Beverlie J. Beck, at 1 : 50 p.m. in the Council informal meeting <br /> room. <br /> Persons in attendance .included : Councilmen Taylor , Beck, <br /> Barcome and Puzzello; Michael Vance , Carol Sanders , Eugenia <br /> Schwartz, Ted Latkowski, Steve White, John Leszczynski, members <br /> of the news media and Kathleen Cekanski-Farrand . <br /> Carol Sanders noted that she prepared a revised schedule of <br /> meetings listing the specific pages of the proposed budget for <br /> the Committee's review (copy attached). Also highlighted was a <br /> copy of the August 5 , 1987 letter to Council President Serge <br /> briefly outlining an overview of the budget prepared by Michael • <br /> Vance (copy attached) . She further indicated that one cent ($ .01) <br /> equals forty-three thousand eight hundred dollars ($43 , 800.00) . <br /> • <br /> Mr. Michael Vance then gave an overview of the budget <br /> process. He indicated that Carol Sanders did the majority of the <br /> work with regard to the preparation of the proposed budget. He. <br /> then reviewed a series of charts with the Committee members, . <br /> which charts are as follows: <br /> 1988 Revenue <br /> Increases : <br /> Property taxes $ 1 , 361 , 000. 00 <br /> Park fees 65 ,000.00 <br /> Pension relief 313 ,000. 00 <br /> Intangible and excise taxes 569 , 000.00 <br /> Case in lieu of taxes 43 ,000.00 <br /> Cash out of balance 458 , 000. 00 <br /> Total $ 2 , 809 ,000 .00 <br /> Losses : <br /> Barrett Law $( 80, 000 . 00 -) <br /> Interest i 150,000.00 -) <br /> Total $ 230, 000.00 <br /> Net Revenue Increase $ 2 , 579, 000.00 <br /> Excluding MVH and CCDF <br />