In February 2005, the Treasurer's Report had the MFT (Motor Fuel Tax) account balance at $436,076.58.
The balance in the MFT account for February 2009 is $160,536.13.
Why the drop, you might ask? Mostly, it's from one very large project that was completed in early fall 2005. That was the re-surfacing and additional work on Forest Park Drive. That cost $395,000.00 out of the MFT fund. Additionally, around $100,000.00 was drawn out of MFT last summer for the re-surfacing and curb work along Monroe Avenue.
The MFT fund consists of fuel tax monies we receive from the state; local taxes paid by our two gas stations; and other similar tax monies received, based on fuel consumption. NO money can be drawn out of the MFT account for ANY project, unless it is OK'd by IDOT (Illinois Department of Transportation). We normally receive at or near $200,000.00-$230,000.00 per year for our MFT fund.
We also pay for our seal-coat program through MFT; along with road salt, paint for striping; and other such programs; ALL street related. In other words, the MFT account is down because we did substantial infrastructure work over the past 4 years; along with the obvious increases in road salt needed the past two winters.
The February 2005 Treasurer's Report regarding the Waterworks account stood at $718,824.35. Our February 2009 report has the account balance at $609,007.92. Why the drop?
This is mostly from one major item that was done in the summer of 2005. The re-painting of the Observation Tower cost $300,000.00, but obviously was desperately needed. That was paid out of the Waterworks account. Other maintenance items for our water system (far too many to list) come from this account, and we have done a number of improvements for our water system over the past 4 years. This includes replacing 2,000 feet of water main; installing shut-off valves in strategic areas in order to try to avoid boil-orders in the future when a water main ruptures; and improvements at both of our waterworks buildings.
It really does us no good to watch the accounts grow. It's far better to use the money to take care of maintenance problems that require immediate repairs and replacements.
No comments:
Post a Comment