VILLAGE OF CHAGRIN FALLS
FINANCE COMMITTEE
April 28, 2008

Members present: Patton, Milko, Subel
Also present: Bloom, Himes, Mayor Brick, Byron, Watterson, Williams, Evans, Lannon

The meeting was called to order at 7:00 p.m. by Chairman Steven Patton.

ALTERNATIVE TAX BUDGET FOR FISCAL YEAR 2009

Mr. Bloom explained that they need to submit this information to the County so that the County can determine the necessary property tax revenues which will be needed to cover estimated expenditures. The numbers that are being submitted to the County are not necessarily the numbers that they will be locked into.

Moved by Mr. Subel, seconded by Mr. Milko to approve. The motion carried unanimously.

GENERAL FUND LEVY

Mr. Bloom said the current levy expires at the end of next year. He explained the three property tax options. A renewal would generate $600,000/year for the Village; a replacement would generate about $998,000/year; and a Charter millage would require approval of votes also, but instead of expiring in five years, a Charter millage is permanent. Comments were heard and questions were answered.

The meeting adjourned at 7:17 p.m.

____________________________
Steven Patton, Chairman
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