Administration Minutes 2014 05-15-14Page 1 of 3
APPROVED 6/19/14
UNITED CITY OF YORKVILLE
ADMINISTRATION COMMITTEE MEETING
Thursday, May 15, 2014 6:30pm
City Hall Conference Room
Committee Members In Attendance:
Vice-Chairman Jackie Milschewski
Alderman Joel Frieders
Alderman Chris Funkhouser
Alderman Rose Spears (by phone 6:34pm)
Other City Officials In Attendance:
Rob Fredrickson, Finance Director
Guests: None
The meeting was called to order at 6:30pm by Vice-Chairman Jackie Milschewski.
Citizen Comments: None
Minutes for Correction/Approval: April 17, 2014
The minutes were approved as presented.
New Business:
1. ADM 2014-29 Monthly Budget Report for April 2014
Mr. Fredrickson said this is the final report for FY '14 with some expenses and revenues
yet to come for '14. The auditors will be at the City in mid-July. Committee members
had no further comment.
2. ADM 2014-16 Monthly Treasurer's Report for April 2014
Mr. Fredrickson presented the Treasurer's report as follows:
Beginning Fund Balance : $12,266,413
YTD Revenue: $26,430,135
YTD Expenses: $27,051,719
Projected Ending Fund Balance: $11,644,830
3. ADM 2014-13 Cash Statements for March 2014
This is for information only.
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4. ADM 2014-32 Bills for Payment
Alderman Frieders questioned an expense on page 65 for a ballast kit. No further action.
5. ADM 2014-33 Lockbox Bid Award
(Alderman Spears joined the meeting by phone at this time).
Mr. Fredrickson said that RFP's for lockbox service were sent out in February and 8 out
of 9 were returned. None are able to provide a P.O. Box in Yorkville. He recommended
accepting the bid from West Suburban Bank who is FDIC-insured. He discussed the
process if errors are made by customers or when NSF checks are received. Mr.
Fredrickson also suggested that an envelope with the new payment address be included in
the bills. Residents will still be able to drop off payments outside City Hall.
E-billing is in the works and was supposed to be done last fall. The software company,
MSI, is not yet ready and the utility billing module has limitations. MSI is used for all
accounting procedures and has been in place since 2004. Alderman Frieders suggested
looking at another system since the improvements have been delayed. Mr. Fredrickson
said if things do not improve in 2 months, he will seek other vendors. Alderman Spears
asked if the payments had to go out of town for processing. Payments will be processed
out of town since no local banks accept lockbox payments. This item will move forward
to the Council consent agenda.
6. ADM 2014-34 Ordinance Removing Current Registrar and Paying Agent for
Certain Outstanding Debt and Appointing a Successor Registrar and Paying Agent
Finance Director Fredrickson said he received notification in March that the Bank of
New York (current paying agent for most of City bonds) wants to raise fees from $350 to
$750 per year per bond. The city financial advisor (Speer Financial) was asked to find
alternatives. Amalgamated Bank was selected for a savings of over $12,000 yearly and
an ordinance must be passed to authorize them to be the paying agent. This item moves
forward to the May 27th Council consent agenda.
7. ADM 2014-35 General Obligation Bonds, Series 2014A – Game Farm Road Project
8. ADM 2014-36 General Obligation Refunding Bonds, Series 2014B -Refinancing
2005A Bond
9. ADM 2014-37 General Obligation Refunding Bonds, Series 2014C – Refinancing
2005C Bond
Mr. Fredrickson discussed these 3 items together and in a memo he said the 2014 bond
issuance and refunding process will begin on May 27th. Assuming the bond issuance
ordinance passes, it would then be published in the newspaper and a 30-day challenge
time period begins for taxpayers to file a backdoor referendum. Approval for the
winning bids for the bond sale would be at the July 8th Council meeting.
Discussion followed and Alderman Frieders asked why the Game Farm Road project is
so expensive. Easements have to purchased, some of which are the in the City and some
in the County. Also some of the utilities have no dedications. Alderman Funkhouser
asked if there has ever been a challenge go to referendum. Mr. Fredrickson said he has
never seen that. These items will move forward to Public Hearing June 24th.
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Old Business: None
Additional Business:
Alderman Milschewski asked if the committee would be able to see all website update
bids before a decision is made. Alderman Funkhouser added that he would like to see the
top 5 to make a recommendation and he would also like a link. Mr. Fredrickson will ask
Administrator Olson to provide the link.
There was no further business and the meeting was adjourned at 6:53pm.
Minutes transcribed by
Marlys Young, Minute Taker