City of Leroy Projects Committee met April 6.
Here is the minutes provided by the committee:
The meeting was called to order at 8:00 PM via remote access. Council members present were Mayor Dean, Rick Kline, Kyle Merkle, Brad Poindexter, Kelly Lay, Ron Legner, Matt Steffen and Greg Steffen.
Staff members were Scott Bryant, Chief Williamson, Perry Mayer, Dan Lush, Samantha Walley and Vicki Moreland.
The committee meeting was called for the purpose of going over the changes in the projected 2020-2021 fiscal year budget. Samantha highlighted on the changes that have been made since the previous budget meeting.
Samantha informed the council that revenues for income tax, sales tax and video gaming tax were expected to be reduced by 5 to 20% due to the Covid 19 pandemic economic impact. She had reduces such taxes by 15%.
Police wages had been reduced by $10,000 with the hope that the patrol officer vacancy expected this summer would be a lateral replacement.
Other changes include a reduction in the portion of sales and income tax that is set aside for Replex bond payments.
Samantha would like to see the finance committee meet once per quarter to see where the budget is regarding revenues and expenses. She had been in contact with Standard & Poor regarding raising the City bond rating. Their response was that the City would stay at an A rating and possibly reviewed in the future with the hope that the rating would Phone: (309) 962-3031 207 S. East Street 0 Le Roy, Illinois 61752 Fax (309) 962-3300 improve with the City using as few cash balance reserves as possible and planning to stay within the budget.
If the projected 15% reduction in revenues is greater, expenditures will need to be cut including the possibility of a reduction in staffing.
Samantha and Chief Williamson have created a portal through FEMA for a possible reimbursement of expenses from the Covid 19 pandemic such as gloves, sanitizer and other PPE needed.
Mc Lean County is talking about deferring property tax payments which would delay revenues that the City relies on.
Ron asked about the cash reserves that were being used. General Fund and Water are the only departments that are using cash balance reserves.
Chief Williamson asked to move $1,000 from Equipment to Vehicle Repair and Maintenance.
The Department Heads as well as the Council were satisfied with the budget pending discussed changes.
A public viewing copy will be available by email upon request or on the City website and a public hearing is scheduled for April 27, 2020 at 6:30 PM.
Motion was made by Kelly and seconded by Rick to adjourn the Special Projects Committee meeting at 8:22 PM.
https://www.leroy.org/file/2072/specproj%204-6-20.pdf
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