Danny V. Colonna

Finance Update

    It is hard to believe 2010 is already here and City Council is well into budget talks and the challenges that face our city in 2010. Revenues continue to decrease while operations and compensation costs continue to increase. It will be challenging to decrease spending while doing more, but it’s what we must do. We have been fortunate during these trying times to have had strong reserves but after dipping into those reserves in 2009 and projecting the same to happen in 2010 we must stabilize our reserves and find other ways to balance this and future budgets. The city of Brook Park’s primary revenue source is income tax, which is right around 64% of all revenue. This revenue source has continued to decrease which is a big concern as we move forward. One change that was made in last year’s budget was a change in the tax split from 70/30 to 90/10. This split represents the split in total revenue for general operations and capital improvements. This was a tool that was used to balance the 2009 budget, but it is not a tool we want to rely on year after year to balance the budget if our intent is to improve our cities infrastructure.
   Though the tax split was changed for 2009 there were still many capital improvements that took place thanks to past funds and stimulus dollars.
   Though recently there has been some encouraging news about the future of Ford Motor Company, the question still remains if there will be any growth on the employment side. The bad news is the casting plant will be closing. The good news is many of those jobs will be absorbed by the other plants, but nothing is in stone. Along With uncertainty of our nation’s space program, we must also keep a close look at NASA Glenn. With these two companies in mind that’s why economic development in our community will take on a new aggressive role and import-ance.

There is no doubt Brook Park is a great place for a business to succeed in this economy. It will also be vital that we work to maintain the revenue sources that currently exist. Currently Brook Park’s financial status is stable but can change at any moment depending on good or bad news from our nation’s capital or from a key business or company. Some say we are coming out of this recession. I personally disagree with this statement, but if that’s true the big question is what economic state will the city of Brook Park be left in. Since I have been on City Council we have been able to build healthy reserves. These reserves are important to our cities financial status and the ability to grow. We must maintain our reserves and prevent them from being used to balance future budgets, which is why we must continue to address the future now. To follow the cities finances log on to www.cityofbrookpark.com and click the Finance Department. I wish everyone a happy and safe 2010!

Buy A Ford Motor Product Today!

Around Town

Near the Pemberton playground use to sit, council approved the construction of a pet surgery center. The project has been put on hold and we are awaiting word from our economic development director. This will be a multi- million dollar project that will bring around 50 jobs to the community. Reilly Auto Parts Store has shown interest in the old Ponderosa property as well. We also continue to monitor any progress that

Brookgate Shopping Center owners make in filling their vacant store fronts, especially the old Topps store. Fireside builders continue to build the final single family homes on Engle Court across from City Hall. These homes are on a slab which will make daily living much easier.

Beautification Committee

The Beautification & Pride Committee has been planning for 2010. The committee will continue with its Pride Award Program which recognizes those residents who have taken personal pride in the upkeep of their properties and in many ways should be recognized as community role models. So be sure to get your nomination forms in beginning this coming spring. Also be sure to mark your calendars for the committee’s 2nd annual luncheon fundraiser which will be held Sunday March 14th at the Brook Park Recreation Center. There will be gift baskets raffled off along with door prizes being given out. Details are still being worked out and as soon as they become available I will pass them on. The committee is also working on a number of projects and program for the upcoming year. The committee meets on the second Wednesday of every month at 7pm in room #4 of the recreation center. The committee is always looking for new members.

Ways To Keep In Touch With City Events
There are many ways to keep in touch with city events, city services, senior services and programs, as well as recreation and other department news. The city has a very informative web site: www.cityofbrookpark.com

Between our city news letters and our website it is our goal to have as much information at your finger tips that we can possibly make available.