Special Session Earlham City Council Meeting

June 27, 2016

The Earlham City Council met in special session on Monday June 27, 2016, at Earlham City Hall. Mayor Lillie called the meeting to order at 7:01 p.m. and the following answered roll: Griswold, Petersen, Royster. Absent: Fredericksen, Swalla. Staff present: Clerk Hibbs.

  1. Approve Agenda
    • Motion by Royster, second by Griswold to approve agenda.
    • Roll: Ayes – Unanimous. Motion passes.
  2. Consider approval of Resolution No. 16-21, A Resolution Authorizing Additional Transfer of Funds for End Of Fiscal Year 2016. Hibbs explained the funds being transferred are additional TIF money received from Madison County.
    • Motion by Royster, second by Griswold to approve Resolution No. 16-21, A Resolution Authorizing Additional Transfer of Funds for End of Fiscal Year 2016.
    • Roll: Ayes – Unanimous. Motion passes.
  3. Consider approval of Resolution No. 16-22, A Resolution Authorizing Closing The Sewer Sinking Fund and Transferring The Balance of $73,677.21 To The Sewer Fund. Hibbs explained the Sewer Sinking Fund was left over from a previous sewer revenue bond. Since that loan has been refinanced into a GO bond, there is no need for sinking fund. Auditors stated this can be moved to the sewer fund.
    • Motion by Griswold, second by Royster, to approve Resolution No. 16-22, A Resolution Authorizing Closing The Sewer Sinking Fund and Transferring The Balance of $73,677.21 To The Sewer Fund.
    • Roll: Ayes – unanimous. Motion passes.
  4. Discussion on the Sewer Reserve Fund and Sewer Improvement Fund and possible transfer of funds. It was consensus of Council to keep the current funds in the Sewer Reserve Fund. If needed, this money can be moved to Sewer Fund at a later time. Council directed Hibbs to prepare a resolution to transfer the $4,841.24 left over in the Sewer Improvements fund to the Sewer Fund.
  5. Discussion on FY 16 Debt Service Levy. Hibbs stated apparently no tax money was levied under the Debt Service Levy for FY16. This money is used to pay down the loan on the fire truck. As a result, Debt Service has a negative balance of $41,750.83, of which $24,566.78 is the fire truck payment and $17,184.05 was from FY15. Department of Management told Hibbs we could either pay back Debt Service from General Fund, or levy for it on the next budget (FY18). Consensus of Council is to levy the FY16 fire truck payment on the FY18 budget. Council directed Hibbs to come back at next meeting with a resolution for this transaction. Hibbs is also to do further research in the negative Debt Service balance for FY15.
  6. Adjourn
    • Motion by Royster, second by Petersen to adjourn.
    • Roll: Ayes – unanimous. Motion passes.

Being there was no further business, the meeting was adjourned at 7:35 p.m.

Attest: ___________________________ Mary Sue Hibbs, Clerk/Treasure_______________________________________ Jeff Lillie, Mayor