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Board ratifies interfund transfers; general fund restored to positive position
Summary
The board ratified interfund transfers — including $11,629.50 from the facade fund and $59,957 repayment for past obligations — moves that members said return the general fund to the black while shifting shortfalls to the water/sewer funds pending expected reimbursements.
The Shabbona board approved a series of interfund transfer resolutions intended to restore the general fund’s balance. The board ratified Resolution 20251218R2 to transfer $11,629.50 from the facade fund to the general fund, and Resolution 20251218R3 to affirm an interfund repayment of $59,957 for past obligations; both passed on roll-call votes.
Chair commented on the outcome, saying, “Just so you guys know that puts the general fund back into the black, where we're taking the water fund into the red a little bit again,” emphasizing the intended, temporary nature of the shift pending future water and sewer receipts. Staff noted that planned reimbursements and a pending $65,000 state grant for a storm-sewer project should mitigate the water/sewer impact.
Board members also approved Resolution 20251218R4 to open a separate checking account for grant funds so reimbursements and grant spending can be tracked separately. The motions passed by recorded votes with all members present voting yes.
Why it matters: ratified transfers alter the village’s short-term cash positions and require careful monitoring to ensure utility funds are restored as expected and that grant accounting remains compliant.
