City of Red Bud Finance Committee met Oct. 17.
Here are the minutes provided by the committee:
Committee Members Present: Rodney Nevois, Ben Schwartzkopf, Alan Piel, Bill Hanebutt, Mike Rheinecker
Committee Members Absent:
Council Members Present: Curt Guebert, Jeremy DeMond, Kyle Donjon
Others Present: Acting Mayor Susan Harbaugh, , Code Administrator Jeff Mueller, Police Chief John Brittingham, Admin. Assist. Pam Poetker, Attorney Paul Ray,
City Superintendent Josh Eckart
Others Absent: City Clerk Joanne Cowell
Pledge of Allegiance
Acting Mayor Harbaugh called the meeting to order at 6:00 P.M.
Old Business
I. RBI Property Tax Abatement – Resolution 22-005
This is what they are eligible for and what they requested based on the categorical sections of the ordinance. Nevois confirmed that it is documented for the term of the abatement. Poetker commented that it is filed with Randolph County.
Recommendation made by Hanebutt, seconded by Rheinecker to approve Resolution 22-005. Motion Carried.
II. Rusty Guebert Farm Lease
Breakdown is $150 per acre, $7800 annually.
Recommendation made by Rheinecker, seconded by Hanebutt to approve the lease with Rusty Gubert. Motion carried.
New Business
I. Approval of Prior Month’s Meeting Minutes – September 19, 2022
Recommendation made by Rheinecker, seconded by Piel, to approve the minutes from the September 19, 2022, meeting. Motion Carried.
II. Maturing CDs and Investment Information
The requirement to invest with IL banks will not be an issue. Funds will be invested in $250,000 increments. This will move to the November City Council Meeting.
III. Financial Dashboard
Included in the packet. 42% of the fiscal year complete. We are +6% on the revenue side and -23% on expenditure side.
IV. Public Comments/Anything for the Good of the City
No Comments.
Meeting was adjourned at 6:04 P.M.
https://www.cityofredbud.org/uploads/3/8/4/1/38410823/finance_101722.pdf
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