Finance Committee:
A Resolution to Authorize the purchase of Software for the Finance Department was approved and will be funded through ARPA.
An Ordinance to authorize distributions to the Police and Fire Pension Funds and to amend Budget Ordinance No. 10148 was approved. This ordinance places $15 million dollars in each of the Police and Fire Department pension funds.
Additional funds from the proceeds of the sale of the WWTP will be moved as a second installment.
This move provides a path to meet the state mandate of funding as required by law.
While the sale of the plant has resulted in an increase of water, sewer and treatment services, the city was facing more debt on the plant to meet EPA regulations and upgrades.
In reality, the rates charged to residents, should have been increased gradually over the last several decades.
In simple terms, the city was using a credit card to pay the pension funds and paying the minimum payment each month which only escalated the principle.
You know how doing that can impact your household finances. This action will lead to the city being debt free from the pension obligation by 2040.
An Ordinance termed the Annual Budget Ordinance for the Fiscal Year beginning May 1, 2024, and ending April 30, 2025, was approved.
The following ordinances setting the salaries of contractual and appointed employees were approved.
An Ordinance to amend Ordinance No. 10142 and to amend the contract of the Economic Development Director.
An Ordinance to amend Ordinance No.10143 to renew the contract of the Grant Writer for the City of Granite City.
While not the actual minutes, this is a recap from Brad Eavenson.
I'm blown away by the thirty million dollars going to the pension funds of the GCPD and GCFD. AND THAT'S JUST THE FIRST INSTALLMENT! Is this administration serious? How much is owed, because they are pulling from the sale of the waste water plant, or literally spending it all, to pay more into these funds?
Do our police and firefighters contribute anything to their own pension? Are they drawing IMRF monies as well as this pension?
Where the hell has all the money went from prior adinistrations? Surely not into the infrastructure of the city. And now our water and sewer bills are doubling.
On the brightside, we'll be out of debt to both departments in fourteen years. I'm done, stick a fork in me. It would have been cheaper to pay the pension checks directly you would think. How many of these cops and firefighters are still alive?? I was told they are fully vested after twenty years, who is negotiating these contracts with their union? bumping that crap up to 25 years might make a difference. This is generational gouging, or the Granite City way. Yeah, come at me. Deny you don't see the web of last names sitting on the payrolls of city hall, Granite City township, the gcpd, the gcfd, board of ed, the mesd and the park district. They are there. Town ran like a damn family business, ran into the ground by the same names until we implode.
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