ST. JOHN | Financial reports released Thursday indicate the town increased miscellaneous revenue and reduced expenses in 2012 over previous years.
The Town Council approved the 2012 annual finance report at its regular meeting. Prior to the council meeting, this same group of elected officials served as the Board of Finance, a body authorized by state statute to review and approve the fiscal report, according to Town Attorney David Austgen.
Town Manager Steve Kil highlighted parts of the report prepared by Cender & Co. in the absence of Clerk-Treasurer Sherry Sury, who is on medical leave. It compares financial figures from 2010 through 2012 for miscellaneous revenue and 2009 to 2012 for expenditures.
“We’re not in the red anywhere,” Kil said.
In 2012, St. John had miscellaneous revenues of $1,801,869, an increase of $600,000 over both 2011 and 2010.
Kil said that increase was due to the building permit fees paid by Lake Central School Corporation for the new construction at Lake Central High School and an increase in other building permits issued by the town.
Expenses totaled $4,227,000 for 2012, according to the report. That’s $500,000 less than in 2009.
“We’re moving in the right direction,” Kil said.
In addition, the town’s debt from seven bond issues is $21,985,000. The longest period until those bonds mature or are paid off is 16 years. The largest bond issue, which was sold to build the St. John Municipal Complex, will be paid off in 13 years, he said.
Interest income earned for 2012 was more than $16,000.
“The funds are in a very solid position,” said Town Councilman Mark Barenie.
In other business, the St. John Town Council approved an interlocal agreement with the Town of Schererville to share building inspection services.
This is the third year for this interlocal agreement, which was approved last week by the Schererville Town Council.
The St. John council also OK’d professional service agreements with Haas & Associates LLC of Michigan City for engineering services; with Austgen Kuiper & Associates of Crown Point for legal services and Cender & Co. of Merrillville for financial services.
In addition, the council authorized a donation of $2,000 to the Tri-Town Safety Village.