COMMITTEE:            Finance Committee

 

DATE:                        June 15, 2004

 

TIME:                        6:30 p.m.

 

MEMBERS

PRESENT:                 Hermes, Melhorn, Plese, Cox

 

ABSENT:                  

 

NON-MEMBERS

PRESENT:                 Alderman Brown, Alderman Kasalko, Alderman Gilmour, Alderman Strong, City Finance Administrator Nick Narducci, Mayor McGann, Executive Secretary Puracchio, Finance Clerk Jusell, Reporter Smith and Reporter Monson, City Clerk Jim Johnston, City Liaison Jack Tyler

 

DISCUSSION:            Approve Monthly City Financials

 

ACTION:                   Alderman Plese made a motion and Alderman Hermes seconded to open discussions at 6:40 p.m. All yes. Motion passed.

 

Alderman Plese made a motion and Alderman Cox seconded to Approve the May Fund Analysis, the May Investment Report in the amount of $3,598,699.44, May Interest Earned $2,744.18, the May Collector’s Report in the amount of $156,354.06, the June Payables in the amount of $29,842.68 and $157,779.07 for the Systems, for a Total of $187,621.75.  All yes.  Motion passed.

                                   

DISCUSSION:            Finance Administrator Report

 

ACTION:                   City Finance Administrator Nick Narducci stated the draft budget was not ready yet.  He would like to schedule a 1˝ hour meeting in the future to discuss it.

 

He distributed and discussed City Financial Report to Aldermen.  (See Attachment).  


DISCUSSION:        Park District Fireworks

 

ACTION:                   Alderman Cox made a motion and Alderman Hermes seconded to donate $3,500 towards the Park District City Fireworks Display on July 3rd.  All yes.  Motion passed.

 

DISCUSSION:            Adjourn

 

ACTION:                   Alderman Plese made a motion and Alderman Cox seconded to adjourn at 6:45 p.m. All yes. Motion passed.