Geneseo Council looks at capital expenditures projections
Any good fiscal plan needs to look at where things have been and where they are going. The Geneseo Council got an opportunity to look at projected capital financial information for the next five fiscal years. Jo Hollenkamp, City Administrator, cautioned that these were just projections, and not in any way predictions.
Estimated revenue and expense predictions for the 2022 fiscal year were given, along with trends for the following financial years for the Electric. Water and Wastewater departments. The trends with the Electric and Water departments show a continued and steady growth. The Wastewater department has steady, albeit smaller cushion, with the payment of a bond in FY 23, that reverses a lot of that growth.
The General Fund on the overall shows the City ending FY 2021 with about $1.4 million on hand. The goal for the city is to have $1 million in reserves, for emergencies and as an incentive for preferential bond rates.
Mayor Sean Johnson warned that in the 2022 projections, the City has projected spending money on the City Building, as it has been more than 15 years since it went into service.
Hollenkamp also reviewed the 2022 capital improvements list, stating that any number of the items on it could be cut or postponed in the event the City felt the need to boost reserves. She underscored the fact that at this time, the City was in very good shape financially.
The subject of the "Welcome To Geneseo" signs that will be replaced at the entrances of the city came up. A fourth sign was proposed at the entrance off the I80 interchange. Several locations were discussed, including the right of way in front of Caseys, and at the intersection of Oakwood and State Street, where the sign currently is with the community organizations and churches. The addition of a fourth sign was agreed on, with Keith Kennett and Craig Armstrong agreeing to confer and bring their findings back to the Council.
Building inspector Rick Mills informed the Council that the expansions planned at Becks and the former Save A Lot building were having trouble getting off the ground, citing issues with getting steel for the expansion, Hy-Vee who plans a Dollar Fresh store that will go into the former Save A Lot, will be going ahead with the rebranding of the store, without the addition.
Police Chief Casey Disterhof introduced Brad Shulte, the newest police officer hired. He graduated from the Police Academy in mid-August, and is currently completing his field training.