Cardington receives financial update
Cardington Village Fiscal Officer Deb Fry’s report covered several areas when village council met June 7.
She noted the summary of revenue for May 1-31, 2021 was down compared to both 2020 and 2021. She explained the main difference from 2021 is the loan proceeds received from FC Bank for the fire engine which occurred in 2020.
Income tax collections were higher, however, and utility collections were lower.
She reviewed the letter from RITA in which noted that Cardington’s percentage of cost of collections in 2020 was 2.90% meaning that for every $100 of taxes collected for Cardington, only $2.90 went to the administrative cost of collections, registration, auditing, compliance record retention, etc. The letter notes this leaves the balance of the village’s fire, police, street repairs, recreational and other community expenditures.