City of North Chicago Finance/Audit Committee met Sept. 18.
Here are the minutes provided by the committee:
Alderman Allen called the meeting to order.
ROLL CALL:
Present: Jackson, Evans, Allen, Smith
Absent: Coleman, Murphy, January
I. DISCUSSION OF FINANCE/AUDIT DEPARTMENT MONTHLY REPORT:
Tawanda Joyner, Comptroller provided the overview of the Finance/Audit Monthly Report.
The finance department had collected 88% of the revenue; transfer stamps sales were slightly lower. Expenditures lowered; inspecting remaining items for Community Days; proceeds in amount of $21,058+; T-shirts sold after the event; credit cards changed from Visa to Master Card effective September 2023; received partial payment of grant for camera and security to Brookstone amount of $102,198.98.
Alderman Smith asked when audit and city rating; Ms. Joyner suggested an informational reading. Treasurer Wyatt clarified it would be a city cost with bond rating. Attorney Simon wouldn’t change the rate.
II. DISCUSSION OF TREASURER’S REPORT – AUGUST 2023:
Treasurer Wyatt provided the overview of the Treasurer’s Report for August 2023. The highest earned monthly interest amount of $146,157.72; interest rates should drop; on track for seed projection of Home Rule Tax and Casino.
III. DISCUSSION – RENEWAL OF COMCAST TELEPHONY AND NETWORK SERVICES AGREEMENT IN THE AMOUNT NOT TO EXCEED APPROXIMATELY $58,000 OVER THE LIFE OF THE 3-YEAR CONTRACT:
Chris Franco, I.T. Network Administrator explained the renewal of Comcast Telephony and Network Services Agreement in the Amount Not to Exceed estimated $58,000 over the life of the 3-year Contract. The City would result in faster computer service; the new contract would save estimated amount of $6,500 savings over the 3-year period.
Alderman Evans moved, seconded by Alderman Smith that the Finance/Audit Committee Meeting stand adjourned.
ROLL CALL:
Ayes: Jackson, Evans, Allen, Smith
Nays: None
Absent: Coleman, Murphy, January
The meeting adjourned at 8:20 p.m.
https://www.northchicago.org/vertical/sites/%7B52959CF2-969E-41D9-A9CF-CF0A11D0BEA9%7D/uploads/COMMITTEE_MINUTES.9.18.23.pdf
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