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Waite Hill council approves payments resolution; finance report shows one‑time costs and improved bond yields
Summary
Council adopted Resolution No. 2025-6 authorizing payments. The Finance Committee reported improved bond yields, interest income rising to $32,685, and extraordinary expenses of $51,754 driving a monthly net outflow.
On June 9, 2025, the Waite Hill Village Council adopted Resolution No. 2025-6, described in the minutes as "A Resolution authorizing and directing the payment of certain sums." Karl Scheucher moved to adopt the resolution and Samuel Knezevic seconded; the roll call vote was unanimous.
The Finance Committee appended a detailed report to the minutes. The committee reported first‑half property tax revenue of $781,558 and May interest income of $32,685 (compared with $11,715 a year earlier). It noted recent bond transactions that produced slight gains on two sales (mid‑4% yields) and the purchase of three corporate bonds with nine to ten year maturities yielding about 5.25% or higher. Total revenue for May was $54,634 while total expenses were $164,527; the minutes identify extraordinary expenses of $51,754 for salt shed repair and outfitting a new 749 police cruiser. Total fund balances were reported as $8,676,209.
The finance materials include a funds forecast projecting a decline in total funds of approximately $1,774,881 over the next 10 years, an average decline of about $177,488 per year. The minutes do not provide the forecast’s underlying assumptions; council accepted the finance committee report as part of the meeting record.
