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Quincy Reporter

Tuesday, November 5, 2024

Quincy Park District Board Finance Committee met September 12.

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Quincy Park District Board Finance Committee met Sept. 12.

Here is the minutes provided by the committee:

The Finance Committee of the Board of Commissioners of the Quincy Park District held a finance committee meeting in the Conference Room at 1231 Bonansinga Drive, Quincy, IL.

Those present included: Commissioner Kelly Stupasky, Chair of the Finance Committee and President Bob Gough. Commissioner John Frankenhoff joined the meeting at 5:45 p.m.

Staff in attendance included: Executive Director – Rome Frericks, Director of Business Services – Don Hilgenbrinck and Administrative Assistant - Mary Arp.

The meeting was called to order by Chair Stupasky. The finance meeting minutes from August 8, 2018 were approved by unanimous consent.

Director Hilgenbrinck reviewed the financial reports and noted that Westview is slightly short from budget but it could be made up this fall. He explained that as they work on the budget, they will have a better idea of how the year will end. Marina numbers continue to be short this year. Batting Cage numbers will level off in September. Indian Mounds Pool has a loss and there are still outstanding invoices. He noted that the paid invoices over $2,000 included roofing and fountain work.

The Public Funds Investment Act was discussed and Director Hilgenbrinck noted that we can now invest in corporate funds. There was discussion regarding this option. It was agreed that the additional risk did not warrant investing in corporate funds.

President Gough stated that he and Rome met with Jeff Conte and Mayor Moore with the City to discuss an easement for a well on Quinsippi Island. He explained that they discussed granting the City the easement to drill the well and the City would rebate the Park District’s water bills. They agreed that the funds would be set aside for bridge repair. It was generally agreed that the Park District would hold these funds. The City would have no liability for bridge maintenance. There was discussion regarding bridge traffic. He stated that official paperwork needed to be completed but hopefully this could be presented to the full Board at the October Board meeting. It was noted that the next bridge inspection is due August 2019 and the average annual water cost is approximately $66,500. There was discussion regarding funding for the bridge and options for funding in the future.

Jeff Kerkhoff agreed that the District should not invest in corporate funds at this time. With no further business to discuss, the meeting was adjourned.

https://www.quincyparkdistrict.com/wp-content/uploads/2018/10/2018.10.10-Finance-Committee-Packet.pdf

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