Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Municipal Finance topic
No spam. Unsubscribe anytime.
Waite Hill council adopts payments resolution; finance chair flags long-term fund decline
Summary
Waite Hill council unanimously adopted Resolution No. 2025-9 authorizing payment of certain sums. Finance Committee Chair Karl Scheucher reported a $8.6 million fund balance but projected a roughly $1.7 million decline over 10 years and noted a 6% Medical Mutual rate increase effective October.
The Waite Hill Village Council on Aug. 11 unanimously adopted Resolution No. 2025-9, "A Resolution authorizing and directing the payment of certain sums," after a motion from Council member Karl Scheucher and a second from Council member Brian Doty.
Karl Scheucher, Waite Hill council member and Finance Committee chairperson, presented the committee’s report and the appended finance statement. Scheucher said the committee ratified a 10‑year bond purchase in July, noted that an FFCB bond was called and that the village purchased a Duke Energy bond, and reported July interest income of $17,220 (down from $21,833 a year earlier).
Scheucher reported a second-half property tax advance of $116,500 and year‑to‑date revenue of $813,559 compared with $775,335 at the same point last year. He said total funds balances stood at $8,602,954, a decline of $433,043 from the prior year, and presented a funds forecast projecting a roughly $1,707,757 decline between July 2020 and July 2030 (an average annual decline of about $170,776).
Scheucher also told the council that Medical Mutual insurance pricing will increase by 6% in October and that the General Fund trajectory predicts a decreasing balance in coming years. The finance report was appended to the meeting minutes for further detail.
Mayor Ryan W. Cox presided over the meeting. No amendments to Resolution No. 2025-9 were recorded in the minutes; the roll call vote was recorded as Yeas: Bowden, Doty, Hiltsley, Scheucher, Steudel, Winterer; Nays: None.
The council did not take additional fiscal action during the meeting; the Finance Committee’s appended report contains detailed fund projections and supporting figures.
