Mayfield Village Already Near Estimated Tax Collection for 2011

It's been a good year for , according to Finance Director Ron Wynne.

"At the end of this month, we'll be at 100 percent of our revenue budget for the year," he told Mayfield Village Council members at Monday's meeting.

The village had budgeted $12.5 million in income tax revenues for 2011 and was at $11.6 million through September. Meanwhile, expenses were at about 60 percent of budget, Wynne added.

The general fund balance is up to $8.1 million. It had been $2.9 million at the end of 2010, about $1.7 million at the end of 2009 and under $1 million at the end of 2008. However, Wynne said the general fund balance is on track to be about $3.2 million at the end of the year once some outstanding expenditures are factored in.

These expenses include:
• Two additional pay periods in the second half of 2011
• Potential refund of $200,000 in estate taxes
• $1 million in road projects
• $400,000 in debt payments
• $160,000 for the new Civic Center roof