City of Red Bud Finance Committee met April 21.
Here are the minutes provided by the committee:
Committee Members Present: Rodney Nevois, Ben Schwartzkopf, Mike Rheinecker, Bill Hanebutt, Alan Piel
Committee Members Absent: None
Council Members Present: Curt Guebert, Jeremy DeMond, Kyle Donjon
Council Members Absent: None
Others Present: Mayor Susan Harbaugh, Attorney Rebecca Cooper, City Superintendent Josh Eckart, Code Adm./City Engineer Jeff Mueller, Police Chief John Brittingham, Administrative Officer Jill Landgraf, Finance Officer Liz Cowell, City Clerk Joanne Cowell
Pledge of Allegiance
Committee Chairman Nevois called the meeting to order at 6:00 P.M.
Old Business
I. FY 2026 Budget and Capital Plans
Recommendation made by Committee Chairman Nevois, seconded by Committee Member Hanebutt, to authorize approval of the proposed FY’26 Budget and Capital Plans as presented. Carried
New Business
I. Approval of Prior Month’s Meeting Minutes – March 17, 2025 Recommendation made by Committee Chairman Nevois, seconded by Committee Member Rheinecker, to approve the minutes from the March 17, 2025, meeting. Carried
II. CD Information
A. Maturing CDs
The sewer $100,000 CD will mature on May 16, 2025.
Recommendation made by Committee Chairman Nevois, seconded by Committee Member Hanebutt, to authorize approval to reinvest the sewer $100,000 CD after May 16th and leave it up to the Finance Officer to pick the best rate at one of the three local banks here in town. Carried
The CD term for reinvestment was questioned. Illinois Funds interest is running between 4-5% currently and the funds are entirely liquid.
Committee Chairman Nevois amended his motion and Committee Member Hanebutt amended his second, to authorize approval to cash in the sewer $100,000 CD after May 16th and roll it into Illinois Funds. Carried
III. Financial Dashboard
Chairman Nevois reviewed the financial summary. The budget is at 92% of the fiscal year, the revenue is $489,937 over the budget, while expenses are $3,477,732 below the budget.
IV. Appropriation Ordinance No. 1558
Recommendation made by Committee Chairman Nevois, seconded by Committee Member Rheinecker, to authorize approval of the “ANNUAL APPROPRIATION ORDINANCE NO. 1558” as presented. Carried
V. Red Bud VFW Post 6632 Request – Golf Hole Sponsorship
Attorney Cooper felt that it is more acceptable to sponsor a team than to give a donation.
Recommendation made by Committee Member Hanebutt, seconded by Committee Member Rheinecker, to authorize approval to sponsor a team for the VFW Post 6632 Annual Golf Scramble on June 7, 2025, for $360. Carried
VI. Public Comments/Anything for the Good of the City
None
The meeting was adjourned at 6:07 P.M.
https://www.cityofredbud.org/uploads/3/8/4/1/38410823/finance_042125.pdf
