Normal City Manager Mark Peterson says Normal's General Fund has a "comfortable" balance. The balance of $7.3 million dollars is a conservative figure, says Peterson.
"I think we feel very, very good about that; however, many communities report their fund balance less conservatively than we do."
Peterson says the Town does not apply excess reserves in the Town's debt or nonrestricted, earmarked monies when reporting the General Fund to the town assessor, which would result in a larger General Fund total.
Peterson's comments came during Finance Director Andrew Huhn's Financial Report to the Town Council at last night's meeting. Normal Fire and Police pensions were also discussed during Huhn's presentation. Fire and Police pensions are currently being funded at about 60 percent...
"We're certainly not where we want to be and we're making efforts to resolve that; but, from what I've seen in terms of state reporting from other jurisdictions they're in the fifties, low fifties, and we've always been, on average, above most of them."
The Council also voted unanimously to appoint Laurie Christensen to the Historic Preservation Commission. Christensen will fill a position left vacant by Matt Felumlee, who resigned earlier this year. Christensen a Real Estate Broker with Coldwell Banker Heart of American Realtors moved to Normal over 40 years ago and attended Illinois State University.
The Commission, which has been in existence for 25 years, identifies, designates and assists in the maintenance of historically significant buildings in Normal. The Commission's seven board members must be Normal residents.
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