At the Vermilion Parks & Recreation Board meeting of January 21, 2020 Chairman Terry Parker conveyed that when they prepared their five-year capital budget they set aside savings for the beach restrooms in the amount of $60,000 from 2019 and $60,000 in 2020, and then $20,000 more in 2021. In speaking with the finance director, he felt it might be important for the Parks Board to encumber some of those funds at this point because as Western Reserve Land Conservancy is raising money; one of the things they need is local matching funds. If they officially set this money aside, then it counts towards the local match for some of the sources they are applying to.
The ending unencumbered balance in the Capital Fund as of December 31, 2019 is $202,410.00, which doesn’t account for the $38,000 in encumbrance as the Showse Park Revetment is still opened. They will get part of the next half year’s payment in late February and into March, which is usually around $70,000. With the projections they have in place this year, they’re covered even if they would set aside the entire $120,000, but they can wait until February to do this. He suggested to the board at this time to approve the 2019 money in the amount of $60,000.
Board Member Cann MOVED; Brudney seconded to approve the encumbrance of $60,000 to Western Reserve Land Conservancy toward restrooms at Main Street Beach. All members approved.
Parker reported the Recreation Fund had unencumbered funds of $4,295 at year end. The Operating Levy had $144,622 in it at the close of the year. Again, in late February/early March they will get another $140,000. He said they have a tentative budget for the operating levy, and they came up with $234,000 which is still within what they will receive, plus the carryover.