Coal Valley — Trustees learned the village has a year and a half of money in the reserve funds.
Mia Frommelt, CPA from Bohnsack & Frommelt, said that the village had “a healthy reserve.” She said most city governments only see that kind of reserves before completing a major capital improvements project.
“The plan is that, hopefully, you would spend that down,” Frommelt said.
Specific numbers on just how much money that equates to were unavailable before deadline. In general, most cities and villages aim to keep 90 days of reserves available.
Village Administrator Annette Ernst said having that kind of reserves is “unheard of.”
Mayor Mike Bartels said the board might go ahead and complete a $20,000 project now that he heard the news.
Trustees agreed to hold their next meeting, scheduled for June 19, at 5:15 so ideas could be discussed on what projects the board and the public would be interested in having done.
In other business:
- The village will partner with Coal Valley Days organizers to offer fireworks on July 5. Fireworks will be shot off at dusk, approximately 8:45 p.m., at Municipal Park.
“This is just a nice thing for residents to see a fireworks display without having to leave the village,” Bartels said. “It would be awesome if we could do this every year.”
The festival will feature bands, but no carnival. The carnival is slated to be in the village Sept. 19-21.
- Board members voted 5-0 to approve the purchase of active shooter vests. Trustee Jake Hoyt was absent.
- Trustees agreed to hold only one meeting in July, cancelling the July 3 meeting because of 4th of July celebrations. The board will meet July 17.
A Nov. 20 meeting will be Nov. 13 due to Thanksgiving.
The Jan. 1, 2020, meeting will now be Jan. 8.