Peoria Standard

City of Chillicothe Finance Committee met Feb. 14.

Here are the minutes provided by the committee:

The finance committee met on February 14, 2024, at 4:30 p.m., in the council chambers at City Hall. Present: Chairman Vanbruwaene, Alderperson Sharp, Alderperson D. White, Mayor Hughes, Office Manager Passage

Chairman Vanbruwaene called the meeting to order 4:30 p.m.

PUBLIC COMMENT

No Public Comment

PURPOSE

Budget 23-24 Quarterly Review - Office Manager Passage presented the third quarter review for fiscal year 23-24. A review was held regarding the information.

Budget 24-25-Office Manager Passage presented the first draft of fiscal year 24-25 budget. She explained that there are a few items highlighted in yellow that are pending final submission of actual expense. The committee reviewed the draft budget. Chairman Vanbruwaene will get with the Superintendent of Public works regarding water/sewer infrastructure. The consensus of the committee was to schedule the budget workshop for a Saturday in March.

Copy Machine - City Hall - Office Manager Passage stated that in the current budget there is a priority one project in General Fund for $13,000 for the purchase of new copy machine. The current copy machine was purchase in approximately 2017 at a cost of $5,669.00. A proposal was obtained from GFI Digital with a cost ranging from $7,161.69 to $6,333.40. There is also an option to just lease the machine. The consensus of the committee was to not lease, however; obtain a second proposal and bring back to committee.

Water Tower Bond Payment - Office Manager Passage explained that the water tower was financed by issuing Debt Certificates for $2,000,000.00 in April, 2006 for 20 years. This debt is a general obligation of the city and a monthly assessment of $5.00 per water customer was instituted. There are three remaining payment to payoff the obligation.

Office Manager Passage advised that per the calculations above there should be sufficient money in the account between May and June to meet our obligation. She advised that it is the understanding that if the obligation is paid off early then there is a penalty. The consensus of the committee was to have the office manager check the ordinance regarding the obligation and check with the attorney to see what our options would be pertaining to the $5.00 fee.

Repair - Radiators City Hall - Office Manager Passage reported that there are four radiators that are not functioning properly. Commercial Mechanical Inc. submitted a proposal to repair the four radiators at a total cost of $4,700.00. The consensus of the committee was to bring the proposal to the city council on February 26 for approval.

Water Rate Analysis – Chairman Vanbruwaene stated that he is still working with Superintendent Sutherland.

New Business - Office Manager Passage stated that Better Banks has submitted a renewal of the Cash Management Agreement. Office Manager Passage recommended that the ACH limit be increased to $175,000.00 because of the several grants we are receiving. The consensus of the committee was to present the cash management agreement to council at the Feb. 26, 2024 council meeting for approval. Office Manager Passage advised the committee that a transfer of $4,008.12 from Road & Bridge Fund to MFT needs to be made. Engineering fees were billed to MFT that should have been billed to Road & Bridge. The consensus of the committee was to bring the transfer to council at the February 26 council meeting. Office Manager Passage advised the committee that she is in receipt of request from Picket Fence Foundation to the Peoria County Board of Review request property tax exemption for their five parcels of land. She explained that looking at last years property tax bills, the impact to the city would be approximately $1,000.00 decline. She also advised the committee that she reached out to Adam Bussard, with IVC School District to see what their position of this issue was. They reported that they would not be objecting to the request. The consensus of the committee was to not object to the request.

OLD BUSINESS

Property 817 Sixth - Nothing to report. Chairman Vanbruwaene stated that this item could be removed from future agendas.

Update - City Hall Renovation Project - Alderperson White reported that he has meet the architects at Keach Architect firm regarding the status of the City Hall Renovation. He recommended the following:

1. Mayor make an appointment of a building committee with Don White, Gary Sharp, and Jacob Vanbruwaene

2. Take a step back to do the following:

a. Review the need for an elevator

b. Review the five options of remodeling

c. Develop a phasing plan

d. Review building a new building

e. Review possibility of an alternate building

The consensus of the committee was to have the Mayor appoint the building committee and then the building committee continue with the process.

SUMMARY

Council Agenda Items - Repair - Radiators City Hall

Cash Management Agreement - Better Banks Transfer from Road & Bridge to Motor Fuel Tax

Chairperson Action - Report regarding the budget workshop and Picket Fence filing request for property tax exemption.

There being no further business the consensus of the committee was to adjourn at 5:47 p.m.

https://cms9files.revize.com/chillicothe/02.14.24%20finance%20minutes.pdf