recommendation to City Council. The information and recommendation will be presented to City Council in November for ratification.
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ELECTRIC POLICE CAR: The Oakwood Public Safety Department continues to evaluate electric vehicles to determine suitability for Oakwood’s needs. An all-electric Chevy Blazer may be available earlier than previously expected and the cost of a fully outfitted electric Blazer would be much less than the electric Tesla that had been considered. If an electric Chevy Blazer vehicle would remain in service for three or more years, it will prove itself to be a worthwhile financial investment for the city.
Mr. Boose noted that at the last meeting, only a slim majority of the members would support purchasing an electric vehicle.
Mr. Klopsch explained that a decision does not need to be made at this point. He is providing an update on options that were not available at the last meeting.
Mr. Kinsey opined that the electric Chevy Blazer is the better option over the Tesla.
Mr. Klopsch invited Finance Director Cindy Stafford to present current financial data.
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2022 FINANCIALS THROUGH SEPTEMBER: Mrs. Stafford noted that General City Services receipts through September are at 89.55% of budget, while disbursements and encumbrances are at 79.83% of budget. Mrs. Stafford shared that she anticipates that by the end of the year disbursements and encumbrances will be close to what was budgeted. Refuse Fund receipts through September are at 76.30% of budget and disbursements and encumbrances are at 80.27% of budget. Water Utility Fund receipts through September are at 73.13% of budget and disbursements and encumbrances are at 80.83% of budget. Sanitary Sewer Utility Fund receipts through September are at 72.38% of budget and disbursements and encumbrances are at 73.73% of budget. Stormwater Utility Fund receipts through September are at 75.47% of budget and disbursements and encumbrances are at 49.67% of budget.
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MUNICIPAL INCOME TAXES: Gross Income Tax collections through September are about 8.6% above September 2021. This increase is primarily attributed to three things:
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Income generated by the additional people living in Oakwood in the homes and condominiums at Pointe Oakwood.
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Increase in Oakwood residents working from home, thereby directing their local income taxes to Oakwood rather than other jurisdictions.
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Despite economic conditions, total earned income in Oakwood has increased.
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PROPERTY TAX: The 2022 property tax receipts are slightly above budget. The city of Oakwood has two voted property tax issues. Of the total property tax bill that Oakwood residents pay, only about 8% is received by the city to pay for city services.
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2023 PROPOSED BUDGET: The 2023 proposed budget reflects no increases in income tax, property tax, or any increases to refuse, water, sanitary sewer, or stormwater fees. The 2023 Budget includes $2.2 million for the Far Hills Storm Sewer Reconstruction Project and $220,000 for the Far Hills Resurfacing Project in 2024. The Far Hills Storm Sewer