Upon call of the roll on the question of the motion, the following vote was recorded:

There being five (5) yea votes and no (0) nay votes thereon, said ordinance was declared duly passed and it was so ordered.

A copy of the ordinance, having been placed on the desks of each member of Council prior to introduction, was read by title.

Mr. Stephens explained that this ordinance is the final piece of last year’s Sidewalk, Curb and Apron Project, and assesses the costs that have not already been paid directly by affected homeowners.

This is a first reading of the ordinance, so Mr. Stephens made no motion.

A copy of the ordinance, having been placed on the desks of each member of Council prior to introduction, was read by title.

Vice Mayor Byington explained that to comply with Section 6.01 of the City Charter, this is the annual housekeeping ordinance to estimate the city’s revenues for calendar year 2018.

This is a first reading of the ordinance, so Vice Mayor Byington made no motion.

Finance Report: Finance Director Cindy Stafford, CPA referenced a PowerPoint presentation and updated Council on the following topics: 2016 year-end financials, 2017 financials through March 31, and the 2016 financial audit.

In regard to the 2016 year-end results, she referenced a chart for Enterprise Funds, excluding transfers, showing budgeted versus actual for receipts (budgeted: $2,726,500 versus actual: $2,745,948), which is 101% for the year; disbursements (budgeted: $3,460,422 versus actual: $3,203,950) which is 93% of budget. The Enterprise Funds include water, sanitary sewer and stormwater. She explained that a water rate increase was implemented at the first of the year to address operating costs and ongoing future capital needs. The increase will help close the gap between receipts and disbursements. The rates were last increased in 1994.

She then referenced a chart for Non-Enterprise Funds (General City Services), excluding transfers, showing budgeted versus actual for receipts (budgeted: $12,742,993 versus actual: $13,540,102) which is 106% of budget; and disbursements (budgeted: $13,664,066 versus actual: $12,710,885) which is 93% of budget. The year ended with $797,000 more revenue than originally budgeted. The net income tax receipts were roughly $446,700 higher than what was budgeted. Almost all of the increase was in withholding tax. The withholding tax consists of payroll taxes from employees in the city of Oakwood and courtesy withholdings for Oakwood residents working in other taxing jurisdictions. Also, when Oakwood residents pay for their yearly vehicle registrations, it is important that they are registered under the city of Oakwood. There is a tax (Montgomery County Permissive Tax) that comes back to the city and the money is then used for street maintenance. In 2016, $351,300 was received. This accounted for several years of the tax. In regards to disbursements, Mrs. Stafford explained that Safety Department expenses were $222,800 less than budget. The street department was $206,000 less than budget and the service center was $155,400 less than budget. Most of these savings came from lower fuel costs and less use of road salt.