Macoupin County Finance Committee met April 4.
Here is the minutes provided by the committee:
I. CALL TO ORDER
PRESENT: Thomas, Harding, Armour, Kiel, Lewis, Rull, Tranter
ABSENT:
II. AGENDA ITEMS
1. Auditing Services Proposal Rewarding
Duncan explained that the proposal for requests for auditing services had gone out and had been available online. The current provider Scheffel, was the only response received. They had lowered the costs by about $2,500 a year.
Motion by Harding, seconded Kiel to recommend to the full Board going with Scheffel for the next four years for auditing services.
RESULT: MOTION TO RECOMMEND [UNANIMOUS]
MOVER: Bill Harding, Vice Chair
SECONDER: Bernie Kiel, Member
AYES: Thomas, Harding, Armour, Kiel, Lewis, Rull, Tranter
2. Discuss on FY 19-20 Budget Request Process
Duncan explained that the software provided by our financial service provider, Zobrio, that had been used for requests last year would not be usable this year. The software only reflects the original budget amount for the current year, not any amendments. Since nearly every office had amendments, the software would not be accurate.
The committee decided to use the excel spreadsheets used previously with the County Clerk's office filling in the previous year column and current year column.
3. Discussion of IMRF Board Reduces Assumed Rate of Return
Thomas explained that he had added to the agenda the discussion of IMRF Board reducing the assumed rate of return. Thomas had the Treasurer provide the preliminary rate for IMRF contributions that were provided for next year. All three categories saw an increase. These preliminary rates are usually pretty close to the final rates usually what we will get in November. The Treasurer estimated that it would cost an additional $180,000 next year.
http://macoupincountyil.iqm2.com/Citizens/FileOpen.aspx?Type=15&ID=3499&Inline=True
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