Village of Freeburg Finance Committee met January 24.
Here is the minutes provided by the Committee:
Chairperson Denise Albers officially called the meeting of the Finance Committee to order at 5:55 p.m. on Wednesday, January 24, 2018. Those in attendance were Chairperson Denise Albers, Trustee Mike Blaies, Trustee Ray Matchett, Trustee Dean Pruett, Mayor Seth Speiser, Treasurer Bryan Vogel (6:14 p.m.), Trustee Trustee Lisa Meehling, Trustee Matt Trout, Village Clerk Jerry Menard, Public Works Director John Tolan, Chief Mike Schutzenhofer, Village Administrator Tony Funderburg, Finance Clerk Debbie Pierce and Office Manager Julie Polson. Guest present: Janet Baechle.
A. Review Of Board Lists: The following expenses were explained: Crafco, $2790 – Public Works Director John Tolan stated that is the crack sealer machine we rent; Bobcat, $1177.23 - maintenance/repair; Guardian, $6971.61 – wellness program that will end 1/31.
B. Review Of Investments: No CD renewals until October.
C. Income Statement: Chairperson Albers asked what the video gaming revenue is spent on, and Village Administrator Tony Funderburg advised the board wanted it to be used for community-related expenses. Office Manager Julie Polson stated one of our regular expenses is the newsletter. We also use it to fund items needed for the Village Park.
D. Treasurer's Report: Finance Clerk Debbie Pierce advised she is getting Treasurer Vogel the information needed for the fourth quarter.
E. Old Business:
1. Approval of December 27, 2017 Minutes. Trustee Ray Matchett motioned to approve the December 27, 2017 minutes and Trustee Dean Pruett seconded the motion. All voting yea, the motion carried.
2. Attorney Invoices: Invoices were reviewed.
3. Newsletter: Julie stated she would like to include an article on the boil order procedures to help our residents understand the process.
E. New Business:
1. FY2019 Budget: Tony is happy with how the budget came together overall, however, he has two ares of concern he wanted to review tonight. First, he would like to confirm that we are using all of the $330,000 on the police addition, and the committee said yes. The second area of concern is how we are going to pay for the first year of design engineering fees for the new sewer plant which is approximately $500,000. That fund is extremely weak, and we only have $354,000 in reserves. One fund can borrow from another as long as paid back by end of year. EPA does not start reimbursing expenses until the construction starts, and the design is going to tak 1 – 1.5 years, so that is a problem until we start geting reimbursed by EPA. John said Todd from TWM would work with us, and John would like to set up a meeting to find out what that means. The other option would be to start raising rates now to start building the reserve fund. John would rather see the rate increase spread out over three years since we really don't know the total price of the project. Tony stated the budget has to be passed by end of March so we have time to look at.
The 3-to-5 year plan has been updated and emailed out. If there is a project not in there, please let Tony know.
G. Public Participation: None.
H. Adjourn: Trustee Ray Matchett motioned to adjourn the meeting at 6:16 p.m. and Trustee Dean Pruett seconded the motion. All voting yea, the motion carried.
http://www.freeburg.com/vertical/Sites/%7BBF1EBCED-BB68-4781-96B4-C004E1B2B4B6%7D/uploads/Finance_Minutes_1_24_18.pdf
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