City of Chillicothe Finance Committee met November 6.
Here is the minutes as provided by the committee:
The Finance Committee met on November 6, 2017, at 4:30 p.m. in the Council chambers at City Hall.
Present: Chairman Thornton, Alderman Braun, Alderman Colwell, Alderman Jenkins, Mayor White
Office Manager Passage
Chairman Thornton called the meeting to order.
Chairman Thornton stated that there are four agenda items for discussion.
Second Quarter Budget Review
Office Manger Passage presented the 2017-18 second quarter budget review information.
A discussion was held regarding Revenue sources by funds and expenses by fund. The overall budget is
good. When the budget is set we budget revenues conservatively and projects are approved as they
come forward. Expenses that are over at this time will be monitored by the appropriate supervisor.
Charts showing Sales Tax, Income Tax, Telecommunication Tax and Video Game Tax were given to the
committee for their review.
Water Fund – Rate Review
Office Manager Passage presented information regarding the water rates. The highest category where
citizens used water in was the 251 – 500 rate category. A discussion was held regarding the meter
replacement project. Office Manager Passage stated that there were approximately 62 meters
remaining to be installed for that project. She stated that the user fee that was placed on the water bill
in the amount of $5.00 was put on in May of 2010. The infrastructure fee (bond fee) was put on in April
of 2006. This was for the water tower installation and debt certificates were issued and this will be
concluded in April 2026. She also informed the committee that over the last three years there have
been several infrastructure expense that have been incurred along with a few employees retiring with a
significant payout.
A discussion was held regarding the rate structure.
Alderman Colwell stated that a few years ago the city had an entity with the state do a rate analysis and
requested that the office manager try to find that analysis and report back to the committee.
Electrical Aggregation Update
Office Manager Passage advised the committee that the Mayor and herself met with Charles de Casteja
and Jerod McMorris representatives of GoodEnergy. They advised that they had met with Homefield
Energy who is our supplier and they have agreed to drop the rate with an extension of the contract.
Mayor White stated that he had signed the agreement to make the extension.
Illinois Municipal League Risk Management –Insurance Payment
Office Manager Passage stated that she had received the invoice for the city’s annual contribution
payment for insurance in the amount of $143,481.80 plus $775.00 for dues. She advised that if the city
makes payment by November 17 we could take a 1% discount of $1,414.81. The total the city would pay
would be $142,821.19. She stated that this was approximately a 2.5% increase over last year. After
discussion, there was a motion by Alderman Colwell seconded by Alderman Braun that the committee
recommend payment. Motion carried via voce vote.
There being no further business the meeting adjourned at 5: 17 p.m.
http://www.cityofchillicotheil.com/110617.budgetreviewinsur.payment.pdf
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