Local CPA Keith Botsch gave the Village of Norris City high marks on their recent audit. He said, "Overall, the Village is in excellent financial shape."
In an hour and a half long meeting, the Norris City Village Board’s financial audit was given by Keith Botsch of Botsch & Associates LLC. To begin, Utility Funds, which are made up of the gas, water, and sewer funds, ended up with $1,138,000 in the gas fund, $402,000 in the water fund, and $710,000 in the sanitary fund. The overall total for the Utility Fund is $2.2 million.
For statements of cash flow, the Gas Fund received $472,000 from customers, spent roughly $304,000 in payments to suppliers, paid employees $153,000, received a positive cash flow of $15,080, built an interest of $1,800, transferred out $27,000, and after transfers, had a reduction of $10,156 in cash. The overall cash balance was $650,843.
The water and sewer funds did not do as well as the gas fund, with the water fund just breaking even from operations. Cash from the water fund was $302,000, the total spent on suppliers was $205,000, $139,000 was used to pay employees, and there was a deficit cash flow of $42,816.
The Sewer Fund had a deficit cash flow of $360,767, $360,000 of that going toward the repair of the trickling system. The overall deficit cash flow was $393,000.
Other governmental funds produced a total of $258,000, $128,000 coming from motor tax, IMRF producing roughly $20,000, and TIF responsible for $110,000. The Motor Fuel Fund pulled in $32,488, spent $38,146, and dipped into the reserves for $5,658. IMRF brought in $34,000, spent $31,000, and had $3,245 in excess revenues. TIF brought in $55,799, spent $30,331, and had $25,468 in excess revenue.
In the general fund, property tax monies produced $162,000. Inner-governmental funds totaled $284,963. The interest for the general fund was $11,786, fines produced $205,000, charges for service totaled $66,346, the total brought in was $553,451, the total spent was $627,172, the capitol outlay was $51,000, and there was a deficit of $73,721.
After going over the audit, Botsch commented on Norris City’s financial standing, stating, “Overall, the Village is in excellent financial shape.”
During visitor’s comments, Norris City resident Dwayne Harrelson approached the board. Harrelson began by relaying that he had previously spoken with Mayor Kissel about the property values surrounding his home. He questioned if the board was still concerning themselves with property values around his neighborhood.
Mayor Kissel informed Harrelson that two properties who have had issues in the past have been cleaned up and taken care of. Kissel also commenced to tell him that there are a lot of things happening behind the scenes, and many more people have been officially ordered to take care of their property issues.
The next item on the agenda dealt with TIF considerations. Donovan Mead approached the board about granting him TIF monies for his business. Previously, they had asked him if he would provide a financial statement as reassurance to the board members before they agreed to grant him funding. They will vote for approval at next month’s meeting. The Village attorney is still writing an agreement with the American Legion for their TIF consideration.
Resolutions on Houses to repair or demolish were considered. 506 North Division, 300 South Division, 805 Southern Circle, 416 W. Main St., and a structure without an address were all approved, and the paperwork for these addresses will be sent to the Village attorney.
The existing ordinance for raffling in the Village has been updated. The ordinance updates old language in the terms, and sets a limit of $1 million as the highest raffle amount. A discussion of the ordinance on cannabis sales in Norris City has been tabled until next month’s meeting.
A donation to Dairy Days from the Village Board was approved to be the same amount as last year’s, but the board will have to look back and see how much it was. Furthermore, Mayor Kissel asks that everyone in Norris City please spruce up their properties for the upcoming Dairy Days!
The renewal of Doug’s and the Legion’s Liquor Licenses were approved.
The meeting was adjourned at 8:30 pm and the next meeting is scheduled for Oct 7 at 7 pm in the Norris City Municipal Building.