Leetonia sees increased 2018 cash balance
LEETONIA — The village will see an increase in its cash balance entering 2018.
According to information provided council by fiscal officer Randy Chismar, the village will see an increase of $133,000 from last year, increasing to nearly $1.15 million.
The increase is being attributed to cost cutting measures being made at the departmental level.
“The departments are doing an excellent job in cutting costs,” Chismar said.
Chismar noted both the water and EMS funds as key contributors to the increase in cash balance and general fund.
The EMS fund has increased $25,000 in revenue, with just $10,000 appropriated from the fire levy to help pay for the new ambulance. The fund sits at $57,700 and appears to be self-sufficient, Chismar said, less than two years since nearly dissolving.
The water fund balance is also up by $20,000, reaching nearly $401,500, an increase of $27,000 the past two years. Chismar said the increase can be attributed to finding leaks and stopping them.
Overall, the general fund will see an increase of $61,000 in revenue through income tax and providing a school resource officer to Leetonia schools, creating a $60,000 increase in the general fund balance.
Chismar did note, however, that the increase is partially a result of no significant street projects in 2017. He also noted $20,000 was appropriated each from the general fund to the cemetery and police pension funds.