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Council signs off on year-end financial cleanups: salt shed payout, reconciliation, insurance directive
Summary
Council approved reallocation of the salt shed payout, accepted an October reconciliation with a $1 variance, directed CCD funds to cover a $32,000 unexpected insurance premium increase, and authorized staff to pay invoices received in 2025 from the 2025 budget through Dec. 31.
Burns Harbor’s Town Council approved several year-end financial adjustments intended to close out accounts and address an unanticipated insurance premium increase.
Finance staff asked the council to adjust the salt shed project payout #3 from an original $30,200 to $22,310.06 from CCD miscellaneous services and $7,889.94 from ARC because the project was overspent. A motion to pay the reallocated amounts carried by voice vote.
The council approved the October reconciliation despite a $1 variance after a motion and second to accept the reconciliation with that variance.
Council was informed that property and casualty insurance premiums rose by $32,000 this year and that the increase had not been budgeted in department lines. The council moved to cover the unbudgeted difference from CCD (referred to in the transcript as 'ceded'); the motion carried, and staff committed to delivering a detailed breakdown of the premium and affected assets within the next week.
Finally, the council authorized Finance staff (specifically granting Nick permission) to pay invoices received in 2025 from the 2025 budget up to Dec. 31, 2025. Members discussed mail and email handling and asked staff to track invoice receipt dates to ensure correct year charging.
These measures were presented as routine, administrative steps to ensure fiscal accuracy at year-end and to maintain cash flow for town operations through the close of the calendar year.
