Finance Committee

City of Edwardsville Finance Committee Minutes January 15, 2014 5:30 p.m. Present: Aldermen Tom Butts Chairman, Janet Stack, Art Risavy Rich Hampton, City Treasurer, City Attorney Berkbigler and Joan Woodard, Deputy City Clerk. Quorum present, Chairman Butts called the meeting to order at 5:40 p.m. No Public comments made. Motion by Risavy, seconded by Stack, to approve Finance Committee minutes from December 11, 2013. Motion Carried with Risavy, Stack and Butts voting aye. Information: Group Health Insurance Fund Report in the amount of $485,212.93 Old Business: None New Business: Claims in the amount of $857,760.40 (Regular), $36,040.59 (Library) in the total amount of $893,800.99 will be available for review. Forwarded to Council for approval on January 21, 2014. City Attorney Berkbigler explained the Franchise renewal agreements with Ameren Illinois for Natural Gas and Electricity. He stated that these agreements would extend for an addition 20 years. The terms specify that rather than discounting the street lights and donating natural gas, the proposed franchise agreements specify an actual dollar amount of compensation per year for the term of the agreements. Motion by Stack, seconded by Risavy, to approve and forward to ACS An Ordinance Extending the Authorization for the Natural Gas Franchise to Ameren Illinois Company, its Successors and Assigns to Construct, Operate and Maintain a Natural Gas Utility System in the City of Edwardsville, Illinois and An Ordinance Extending the Authorization for the Electric Franchise to Ameren Illinois Company, its Successors and Assigns to Construct, Operate and Maintain an Electric Utility System in the City of Edwardsville, Illinois. Motion Carried with Stack, Risavy, and Butts voting aye. Committee members along with City Treasurer Hampton discussed the budget process. Members explained that they would like to see the data submitted by each department and would like to hear explanations from the department heads regarding their submitted items before any changes are made. Mr. Butts stated that it would give the Finance members a better understanding of what each department’s capital expenditures consist of and why. Finance Committee will meet on Wednesday, January 29, 2014 at 5:30 p.m. in the Governor Edwards Conference Room. Meeting adjourned at 6:20 p.m. _____________________________ Tom Butts, Chairman