Our Fiscal Year

The Village began the fiscal year 2015 with a fund balance of $4,145,200 in its main operating funds.

At the end of the first quarter the fund balance remained steady at $4,000,000. The 2015 annual budget of the Village is approximately $11.6 million dollars including all planned capital expenditures. These comprise infrastructure improvements of $1.1 million including the annual road maintenance program, storm and sanitary sewer and catch basin cleaning, culverts and drainage program, and slope stabilization. Various capital items have also been budgeted including police and service vehicles, communication equipment, and heavy duty tools at a cost of approximately $342,000.

Income and Property taxes which make up over 80% of our revenues are lower by 7% for the first quarter of 2015 as compared to 2014 mostly due to timing issues. Overall, management’s conservative budgeting practices and prudent financial planning have helped maintain the excellent quality of services provided to our residents without any tax increases and additionally have allowed for sufficient reserves to be maintained especially in these economic times when the shared revenues from the State of Ohio are slowly eroding. The Village continues to enjoy the highest bond rating of Aa1 of any Village in Ohio from Moody’s Rating Services due to its extremely low per capita debt.