Rodney Nevois, Council Member - Ward III | City of Red Bud
Rodney Nevois, Council Member - Ward III | City of Red Bud
City of Red Bud Finance Committee met Nov. 18.
Here are the minutes provided by the committee:
Red Bud City Hall
Council Chambers (2nd floor)
Committee Members Present: Rodney Nevois, Ben Schwartzkopf, Mike Rheinecker, Bill Hanebutt
Committee Members Absent: Alan Piel
Council Members Present: Curt Guebert, Kyle Donjon
Council Members Absent: Jeremy DeMond
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, City Clerk Joanne Cowell
Pledge of Allegiance
Committee Chairman Nevois called the meeting to order at 6:00 P.M.
Old Business
None
New Business
I. Approval of Prior Month’s Meeting Minutes – October 21, 2024
Recommendation made by Committee Chairman Nevois, seconded by Committee Member Rheinecker, to approve the minutes from the October 21, 2024, meeting. Carried
II. CD Information
A. Maturing CDs
There are four CDs which matured November 16, 2024.
| FUND | AMOUNT | TERM | BUENA VISTA | DIETERICH BANK | NORTH COUNTY SAVINGS |
| Electric | $750,000.00 | 3 MO | 4.65% | 4.75% | 4.50% |
| Gas | $150,000.00 | 3 MO | 4.65% | 4.75% | 4.50% |
| Sewer | $100,000.00 | 3 MO | 4.65% | 4.75% | 4.50% |
| Streets | $1,000,000.00 | 3 MO | 4.65% | 4.75% | 4.50% |
| Electric | $750,000.00 | 6 MO | 4.55% | 4.65% | 4.41% |
| Gas | $150,000.00 | 6 MO | 4.55% | 4.65% | 4.41% |
| Sewer | $100,000.00 | 6 MO | 4.55% | 4.65% | 4.41% |
| Streets | $1,000,000.00 | 6 MO | 4.55% | 4.65% | 4.41% |
| Electric | $750,000.00 | 12MO | 4.45% | 4.45% | 4.06% |
| Gas | $150,000.00 | 12MO | 4.45% | 4.45% | 4.06% |
| Sewer | $100,000.00 | 12MO | 4.45% | 4.45% | 4.06% |
| Sewer | $1,000,000.00 | 12MO | 4.45% | 4.45% | 4.06% |
Recommendation made by Committee Chairman Nevois, seconded by Committee Member Hanebutt to authorize approval to reinvest $100,000 Sewer Fund at Dieterich Bank for six months at 4.65% rate of interest. Carried
III. Financial Dashboard
Chairman Nevois reviewed the financial summary. The budget is at 50% of the year, the revenue is 4% over budget, while expenses are 33% below the budget.
IV. Holiday Gift Certificates for Employees
Recommendation made by Committee Chairman Nevois, seconded by Committee Member Rheinecker, to approve authorization to present holiday gift certificates to full-time employees at $125/each and part-time employees at $75/each. Carried
V. FY’24 Surplus Funds
Liz Cowell had prepared a plan of distribution of the FY’24 Surplus Funds to fund the five-year plan funds. To give everyone time to review, this will be continued to the December committee meeting.
VI. Tax Levy Ordinance No. 1554
Recommendation made by Committee Chairman Nevois, seconded by Committee Member Rheinecker, to authorize approval of Tax Levy Ordinance No. 1554. Carried
VII. IP Voice Phone Transfer Proposal – HTC & CTS
Administrative Officer Landgraf explained the need for and advantages of the proposed updated phone system for city hall and the utility department. The current dated equipment will not continue to be serviced because parts will no longer be available.
Recommendation made by Committee Member Hanebutt, seconded by Committee Member Rheinecker, to authorize approval of the IP Voice Phone Transfer proposal from Harrisonville Telephone Company and Complete Technology Solutions. Carried
VIII. Public Comments/Anything for the Good of the City
None
The meeting was adjourned at 6:28 P.M.
https://www.cityofredbud.org/uploads/3/8/4/1/38410823/finance_111824.pdf
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