DeKalb Times

City of Genoa City Council met Oct. 2.

Here is the agenda provided by the council:

I. CALL TO ORDER & ROLL CALL

II. PLEDGE OF ALLEGIANCE

III. GUEST SPEAKERS

IV. PUBLIC COMMENT

V. OLD BUSINESS

VI. CONSENT AGENDA

A. MOTION TO APPROVE THE CONSENT AGENDA THAT INCLUDES THE FOLLOWING ITEMS:

1. The Minutes From The September 18, 2024 City Council Meeting

2. The Accounts Payables Dated September 30, 2024

VII. NEW BUSINESS

A. PRESENTATION OF THE CITY OF GENOA FISCAL YEAR 2023-2024 AUDIT REPORT BY SIKICH Sikich’s Auditor’s Communication to the City Council is available in the packet. Sikich will present their findings at the City Council meeting. Further, the Audit is available in the packet and the acceptance will be considered under the following agenda item.

B. ACCEPT THE ANNUAL COMPREHENSIVE FINANCIAL REPORT FOR THE FISCAL YEAR ENDED APRIL 30, 2024

Each year, the City’s financials and accounting controls are reviewed by an independent auditor, Sikich. The City’s financial statements are presented as an Annual Comprehensive Financial Report (ACFR). In this format, the basic financial statements, statements of net position and budget-to-actual statements are provided with additional information about the City in the introductory section and a statistical section toward the end of the document to show a historical comparison.

The City of Genoa will be submitting the ACFR to the Government Finance Officers Association (GFOA) to be considered for the Certificate of Achievement for Excellence in Financial Reporting. The City of Genoa has received the Certificate with the past 18 ACFRs submitted and believes the Audit once again conforms with the GFOA’s award standards. The Management’s Discussion and Analysis (MD&A) is available in the ACFR and the ACFR will be posted on the City’s website, once the ACFR is accepted by the Council. The MD&A is designed to provide a narrative overview and analysis of the City’s financial activities for the past fiscal year. The MD&A focusses on significant financial issues as well as changes in the City’s financial position.

C. CONSIDER AN ORDINANCE AUTHORIZING THE CITY OF GENOA, DEKALB COUNTY, ILLINOIS TO BORROW FUNDS FROM THE PUBLIC WATER SUPPLY LOAN PROGRAM, PENDING ATTORNEY REVIEW

The City has received approval from the Illinois Environmental Protection Agency for a low interest loan for the replacement of all lead service lines in the City of Genoa. This is a $2.7 million project. The Illinois Environmental Protection Agency requires the City Council adopt the attached ordinance expressing interest in the project and a loan for completion of the project. Should the Council approve the ordinance, notice will be posted in the paper allowing for a petition period. At a later date, the Council will consider a Loan Agreement with the IEPA.

D. REVIEW AND DISCUSS REVISIONS TO TITLE 3

Staff and the City’s consulting attorneys have been reviewing Title 3 for inconsistencies with current practice or law and recommended changes are outlined in the packet. Please see the memo in the packet for further details.

VIII. FUTURE ITEMS FOR DISCUSSION

IX. DEPARTMENT REPORTS

X. ANNOUNCEMENTS

XI. MOTION TO ADJOURN

https://www.genoa-il.com/wp-content/uploads/2024/09/CCagenda-10022024.pdf