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Admin Committee Minutes 1999 09-14-99 UNITED CITY OF YORKVI.LLE Committee Minutes - Administration Date of Meeting: September 14, 1999 Time Convened: 6:40 P.M. Location: 111 W. Fox Time Adjourned: 8 :10 P.M. Attendees: Mayor Art Prochaska Bob Allen Mike Anderson Larry Kot j Richard Sticka Rose Spears Discussion: 1.) Audit/Management Letter - PandoIphi to attend - Tabled discussion until Wednesday September 15. 2.) New Ordinance for Review Fees or County Subdivisions within One and One Half Miles - 'fabled. 3.) Investment Policy - Allen passed out updated draft copies of the policy. It has been changed to be City of Yorkville specific. Length was also changed to not more than five years. This policy is recommend by the Illinois Municipal League. We will need to adopt a policy and a procedure manual. The person that makes the investment does not watch over it. There are investments that are not very secure. This policy does meet the requirements we need to meet. We will not have a large portfolio to begin with. We currently have some investments at Castle Bank. The procedure that we need to follow will be listed out. Allen would recommend that we invest in CD's, money markets, and/or Treasury notes. CD's might be nice once we start working through our five year plans. We really can not afford to tie money up for too long. We can carry money over from year to year as long as we are saving it for capital improvements or purchases, If we plan on tieing money up for a long time then we need to identify the project or purchase ahead of time. If we end up with a large surplus then the State an hold our levy. The Library has a fund that can only be used for a new building or expansion_ It is only earning a 2.2 percent interest rate so this may be a good account to look at for investment funds_ Anderson thinks that the procedure manual will need to be cleaned up some. This is the first time we have seen it_ We need to keep it simple. We can always expand it later. There are some types of investments that we, as a municipality, are not permitted to invest in_ As the City grows we may want to consider hiring a financial advisor. The policy needs to be passed by the end of the year. Mayor Prochaska suggest getting things worked out and cleaned up. Bring it all back together at next meeting. I 4.) TCD Contract - There is an open meeting scheduled for October 6. TCD will be there. They are interested in extending out contract. We are seven months away from our current contract expiration date. Our current contract was a five year contract. Sugar Grove's new contract was published in the paper_ They are being charged $8.00 per home. Their increase was 2.2 percent. This should also be discussed at Public Works. At the time we signed our current contract there were only two companies that serviced our area. There is more competition this time. Sugar Grove's contract is a good starting point. The meeting on October 6 is to get input from the people. To find out what people want. 5.) Property Insurance Update - Nanninga has been working on this with Jack Magnuson, The Library board does not know what their coverage is_ The City pays the premiums_ They are concerned that they will have to start paying the premiums. Someone from the Library called Zeiter Dickson and was told that Magnuson would not be available to come to the Library meeting until November. We are making sure we are insured where we need to be. Bring back for further discussion. 6.) Darryl Anderson request to Waive B/Z Plan Review Costs - Tabled. I 7.) Additional Business - City Flag - Flag Source does not have the art work for the original flag. Allen suggested using the City logo against a light blue background. Holly Wilson did not thinks it would be a big dean to redo the art work. We need to decide if we even want to use the current flag_ It is a river with a corn field with wheat_ Anderson would like to have a City flag flying at the new City Hall when it opens. We need to find out what art work would cost for the current City logo. If the police department had patches made then there should be some art work somewhere_ Mayor Prochaska suggest a white back ground. The police patch looks really good with all the colors_ Interf ind Borrowing - We are trying to reduce/eliminate the due tds and due front's. Some are pretty substantial. There are approximately eight different items. It is not unusual to do interfund borrowing but to carry it over for longer then one year is unusual_ Now that we are selling the lots then we could put that money into the municipal building fund. The money would be deposited into the general fund and transferred out. The trust and agency is a pass through account, we do not know why amounts show up there. With the revenue from the lots and they paying back there will not be a big drop in the general fund, which is good. Eventually we would like to wipe it all out. Allen is worldng on finding out what everything is. The interfund pay back has to be done by a vote. Allen should talk with auditors to find out the best time and way to reconcile the interfind borrowing accounts_ Take to COW under additional business. Deputy Treasurers Bond • To save some money we were going to let the bond expire. Allen does not suggest this. He is not comfortable with it_ The bond is for $50,000. The cost of the bond is $150 to $175. We might need to increase the amount of the bond. She handles a lot of money and accounts. Large items are voted on. Everybody agrees to get her bonded_ K & T Construction - Uneollectible Bill - They called Allen about a bill he received for cutting weeds. This was a bill that we sent out but never collected on. Bill was for $143. He does not think he should pay the bill because he has the equipment to do it himself. The City still went out there and cut the weeds. Since then the property has been sold so we can not put a lean on the property. We need to decide if the bill is uncollectible or not. Allen is to call him back and explain that we did cut the weeds and this is they amount he owes us. Nanninga should have the original dates. Years in Service - We have six or seven employees that have been with the City for 20 plus years. One person has been here 25 years with no recognition. Mayor Prochaska would like to see some type of policy in place for recognition. Mayor Prochaska will ask staff to put something together. New City Hall -The cost for new electrical service is approximately $10,000. The middle school need to install a line that we would be able to hook into. This will help to save us some money. The school district is looking for some help with the cost. Kot and Mayor Prochaska have no problems passing our savings to then. Hooking into their line was suggested to Wywrot by ComEd. Kot does not like the idea of going under the sally port. Mayor Prochaska feels that as long as it gets to our building where it needs to be then that is fine. We need to make sure that Light reduces their fees to accommodate this. We need to know what our savings really are. We will need to have Dan look it over. We will need to pass a resolution. Take to COW under additional business. Minutes by_ Mollie Anderson