Peoria Standard

City of Chillicothe Finance Committee met Oct. 16.

Here are the minutes provided by the committee:

The finance committee met on October 16, 2024, at 4:30 p.m., in the council chambers at City Hall. Present: Chairman D. White, Alderperson Sharp, Office Manager Passage

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

PUBLIC COMMENT

No public comments

PURPOSE

Budget Review

Office Manager Passage advised that the budget comparison was in the council packet.

The September Budget percentage should be at or below 41.65%

Overall budget looks good, some line items are over the percentage and should be monitored. She reported that public works projects could be impacted in the months to come. There was section in the Employment of Illinois Workers on Public Works Act that comes into effect following two consecutive calendar months of the State's unemployment rate exceeding five (5) percent. Since that happened in July and August the Act is now in effect. The Act requires that the workforce on all public works projects be composed of a minimum of 90% Illinois resident laborers. It is intended to ensure that projects funded using public dollars employ Illinois residents, the Act applies to projects that are funded in whole or in part with state funds or funds administered by the State of Illinois and any public works project financed in whole or in part by federal funds administered by the State of Illinois is also covered. This information has been sent to the City Engineer, the Public Works Superintendent and ED Director Beadles.

Invoice - Risk Management - 2025 Insurance

Office Manager Passage reported that the city is in receipt of the invoice for the 2025 Insurance. The cost is $147,740.00 plus dues $775.00 less a 1% discount of $1,477.40 if paid by Nov. 11, 2024. This makes the total cost to be $147,037.60. She explained the amount increased by $3,914.46 from last year. She recommended that the invoice be presented to the council at the October 28, 2024, council meeting for payment. The consensus of the committee was to present the invoice for payment at the October 28 council meeting.

Tax Levy Ordinance

Office Manager Passage advised the committee since the council approve the tax levy amount, the next step in the process for the tax levy is to prepare the Ordinance. She recommended the following distribution of the additional funds:

Tort Liability will receive $ 1,500.00

Social Security will receive $1,987.00

General Fund and Police Pension - The remaining amount to be distributed is $37,281.44. She advised that she is waiting for the actuarially for the Police Pension, as that will determine how much of the remaining amount is needed for pension. Should more or less be needed it will be adjusted by adjusting the General Fund amount. The consensus of the committee was to have the office manager proceed with preparing the tax levy ordinance once the distribution is determined.

City Hall - Asbestos/Lead Report

Chairman White explained the City had an asbestos/lead survey done for the City Hall building in 2022. The estimated cost of removal of approximately of all asbestos containing material identified in MEC NESHAP Survey MEC #21-12-732 INSP was $17,500-$19,500. Since the lapse in time, he recommended that the Office Manager reach out to City Engineer Horton to obtain a new cost estimate and bring it back to the committee.

OLD BUSINESS

Grocery Tax - HB3144

Will present ordinance in next fiscal year

City Hall Renovation

Chairman White gave the following update:

• Estimates from Keatch for renovation & new construction are expected by the end of October

• Develop Project cost analysis, hard and soft costs for all options. - Discussion was held regarding the possibility of demo the Busey bank and build new. Consensus was the cost would be far more than other options.

• Busey Bank roof

Realtor reported Kreiling Roofing has repaired roof and provided invoices with photos; only one Repair since we toured the building a few years ago; much more visible damage

Resource Roofing, Andy Boyle was contacted to provide reroofing estimate for Busey. Estimate was $115,000.00.

• Preliminary Project Cost Comparison will be established

• Possible Closed Session with Council in November

a. Power Point Presentation of options, status and project cost comparison

b. Determine purchase/price for Busey, if directed by Council

Review - Concerns regarding water rate increase - McCosh

This was withdrawn as it was decided to at the September finance meeting to remove this agenda item.

SUMMARY

Council Agenda Items - Payment - Risk Management Insurance

Chairperson Action - nothing

There being no further business the meeting adjourned at 4:54 p.m.

https://cms9files.revize.com/chillicothe/10.16.2024%20finance.pdf