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Council reappoints Bill Underwood as city treasurer for a two-year term
Summary
The City Council reappointed Bill Underwood as Villa Park city treasurer for a two-year term beginning Aug. 21, 2025; council cited his participation on the Investment Advisory Committee and ongoing pension prefunding work.
The City Council unanimously reappointed Bill Underwood to the city treasurer post for a two-year term running Aug. 21, 2025, through Aug. 20, 2027.
City staff explained that Underwood previously served and agreed to a two-year term rather than the customary four years due to availability. Council members and staff praised Underwood's work with the Investment Advisory Committee and his role in the city's pension prefunding efforts; staff noted Villa Park's prefunding trust is approaching $1 million and the city expects a funded status near 89% in coming years, based on the article cited by the appointee.
Underwood accepted and thanked the council. The appointment passed by a 5-0 roll-call vote.
Why it matters: the city treasurer is responsible for oversight of city investments and participation on the Investment Advisory Committee; council highlighted the city's conservative fiscal practice and prefunding progress as part of the reappointment rationale.
