City of Rock Falls Finance/Insurance/Investment Committee met February 27.
Here is the minutes provided by the Committee:
I.Call to Order @ 5:00 p.m.
-Chairman Kuhlemier
Meeting was called to order at 5:00 pm
Meeting begins at 5:00 pm
2.Public Comment
None
No action
3.Approve Minutes of the January 24th, 2018 meeting
The minutes were reviewed by the committee
Minutes approved
4.New Business:
a.Credit card service fees discussion.
Utility Superintendent Hatfield informed the committee that with the credit card charge at $2.50, there is a $3600.00 shortfall from the fees charged from the credit card company. The Committee approves that the charge be raised to $3.00 beginning May I't, 2018. This change will be in effect for all of the credit card processing in the city.
Recommended to Council for approval.
b.Approval of Resolution 2018-783 Authorizing transfer of funds from Riverfront TIF to Downtown TIF.
City Administrator Robbin Blackert informed the committee that the Riverfront TIF will be ending this year. Because the TIFs are contiguous, money remaining in the riverfront TIF can be moved to the Downtown Redevelopment TIF and used for a specific project. The RB&W Park would be an eligible candidate for the funds to be used on. 1t was recommended that one transfer of $80,000 be made this fiscal year and another one next fiscal year. There was much discussion about the Downtown Riverfront TIF balance, and funding options until there is more development in the TIF area.
The committee recommends Resolution 2018-783 be sent to council for approval.
c.Review of Resolution 2018-782 Managed IT Services from William and Mary Computers.
Administrator Blackert explained that this resolution authorizes acceptance of the proposal from William and Mary Computers for managed IT services. This is a retainer for IT work to be done by William and Mary Computers 812 12th Avenue Rock Falls, Illinois in the amount of$3952.00 per month.
Recommended to Council for approval.
d.Review of proposed rate change for septic
The Committee reviewed the change to 32-312(c) amending the amount charged for dumping sewage at the plant. Adm. Blackert explained that there are many parts of the ordinances that need to be updated.
Recommended that an ordinance be drafted for the change, and approved by council.
e.Purchase of used vehicle for CSO/Code Enforcement.
The Committee reviewed a quote from Majeski Motors for a 2015 Buick Encore. The total cost is $13,750.00. There was discussion about using dealerships in Rock Falls, and Inspector Searing had tried prior to receiving this quote.
Recommended to Council for approval.
f. Spending Limit for Broadband Fiber for Superintendent and City Administrator
During the buildout phase of FiberNet, Adm. Blackert would like the spending limit increased for both the FiberNet Director and City Administrator from $5,000 TO $15,000. The amounts will be reviewed in one year.
Recommended to Council for approval.
g.Review of RFPs for CD rates.
The committee reviewed the investment quotes from Community State Bank, Sterling Federal Bank, Sauk Valley Bank, Midland States Bank, US Bank, and Illinois Bank and Trust that were received after soliciting for proposals. After much discussion, the Committee recommends that some diversification is good. The Committee recommends the following CDs. $500,00024 month at Sterling Federal, $500,00024 month at Community State Bank, and approximately $2.5Mil at Sauk Valley Bank. Adm. Blackert has verified with Sauk Valley Bank that the City's assets are not more than 10% of their deposits as required by the investment policy.
The investments will be moved to the new allocations.
h.Approval of the Garbage Contract with Morning Disposal 2018-2025.
The Committee reviewed the contract with Moring Disposal. The new contract will introduce the use of 95 gallon toters, three day pickup (Tues Wed. Thurs.), and bi-weekly recycling pickup. The yard waste pickup will remain the same, but there is a chance that a side letter agreement could be made for special circumstances in March or November for yard waste. Stickers for bulk items will still be handled the same way. There is a provision on page 20 for a 3-year extension of the contract after 2025. Moring will provide dumpsters for special City events. There was discussion about having stickers made to help identify which toter is for recycling. The committee discussed ways of spreading information about the changes to the garbage service including mailers in the utility bills, and a possible informational calendar.
Recommended to Council for approval.
5.Municipallnvestment Reports
The committee reviewed the reports.
Reports approved
6.Committee Member Items
Alderman Kleckler addressed the issue of parking in the RB&W District when the new developments come across from the park and hotel. He suggests that Public Property set up a timeline to address the issue before it is a problem.
No action
7.Adjournment
With nothing else for the good of the committee, the meeting was adjourned at 6:20pm
Meeting ends at 6:20 pm
https://rockfalls61071.net/download/agendas_and_minutes/2018_agendas_and_minutes/2018_boards__and_committees/finance_-_insurance_-_investment/2018_finance_-_insurance_-_investment_minutes/02-27-2018-Finance-Insurance-Investment-Committee-Minutes.pdf
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