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Saint Charles council updates surplus policy, approves $274,944.88 in bills
Summary
Council approved an updated surplus policy with a sunset for review and approved payroll/claims totaling $274,944.88 by roll-call vote; staff outlined the village practice of allocating 25% of any general-fund surplus to pensions, 25% to OPEB and the remainder to the general fund.
The Village of Saint Charles council voted to pass an updated surplus policy and approved bills totaling $274,944.88.
Staff explained the village’s practice for handling general-fund surpluses: when the village underspends, 25% of surplus goes to pension funding, 25% to other post-employment benefits (OPEB) and the remainder returns to the general fund for municipal services. Staff said the policy was originally adopted in 2019 to improve long-term pension funding after the village was below the state-recommended threshold. "If there's any extra funds, this is what you told us to do," a staff member said while describing the allocation split.
Council discussed whether to retain the allocation percentages or shift priorities between pensions and OPEB and agreed to add a sunset provision so future councils can revisit the approach. Council set a review window (staff proposed 2027) and voted to adopt the updated policy with that sunset.
Separately, the council approved payment of claims. Roll-call votes on the $274,944.88 motion recorded Paul Jenderski, Christine Newman, Michael Nesbitt, Kathy Harris and Darcy McSwain as voting yes; Edgar Tidoff and Jennifer Rosser Nesbitt were absent.
What’s next: The surplus policy will be revisited under the sunset timeline; the finance office will continue routine claims processing and present budget implications as needed.
