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Thursday, November 21, 2024

City of Rock Falls Finance/Insurance/Investment Committee met February 28.

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City of Rock Falls Finance/Insurance/Investment Committee met Feb. 28.

Here is the minutes provided by the Committee:

I.Call to Order @ 5:00p.m. - Meeting was called to order at 5:00pm Meeting begins at Chairman Kuhlemier 5:00pm

2.Audience Requests None

3.Approve Minutes - January The minutes were reviewed by the Committee. Alderman Klecker was Corrected minutes 24th, 2017 Finance present at the meeting and the minutes should show him present. approved

Committee meetings

4.New Business: City Administrator Robbin Blackert informed the committee that she was No action

a.Budget Review waiting for ratification of the contract with the IAFF Firefighters collective bargaining unit to finalize the budget. Contributions to the Utility Office will now be broken up the same as the City Administrator budget is

Garbage 10%

Sewer and Water 15%

Electric 75%

Budget amounts for training will be raised to $20,000 for possible APPA

Governance Training for the future board.

IML has released its forecasts for LGDF, MFT, and State Sales Tax. FY 17 was at $151.90 per resident. FY 18 will be $152.05.

Fiber - O&M expenses will be lower than projected for this year. The fiber budget will be set up to make it consistent with the other enterprise funds.

Sewer and Water are doing rate studies currently. There is still one more year of built-in increases. Electric has not had a rate increase in 3 years.

Electric may have an increase in May of June. The Sewer Plant is currently the largest electric user. The GVI project would help reduce costs at the sewer plant.

5.Municipal Investment The committee reviewed the reports and spoke about the history of the Reports approved

Reports city's checking accounts

6.Executive Session - The Committee entered executive session at 5:20pm No action

a.Collective Bargaining The Committee exited executive Session at 5:39pm

Section 2(c)(2) Review and

approval of the Firefighter's

Contract

The Committee recommends the Contract as revised be recommended to Recommend to the the City Council for approval City Council for approval

7.Committee Member Items Alderman Kuhlemier reminded the committee that the budget meetings will No action be on March 28th and 29th at 5:00pm

8.Adjournment With nothing else for the good of the committee, the meeting was Meeting ends at adjourned at 5:51 pm 5:51pm

http://www.rockfalls61071.net/download/agendas_and_minutes/2017_agendas_and_minutes/2017_committees_boards_and_commissions/finance_insurance_investment_committee/2017_finance_minutes/02-28-2017-Finance-Committee-Minutes.pdf

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