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Approving Transfer and Payment in Accordance to the Agreed Order for Case No. 13 L 134
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WHEREAS, The Agreed Order for Case No. 13 L 134 (Agreed Order) settled a dispute between the Village of Campton Hills, Comcast of Illinois, and Kane County (Attachment A); and
WHEREAS, per the Agreed Order, Comcast of Illinois deducted franchise fees in the amount of $50,000.00 per year from 2020 through 2023; and
WHEREAS, in order to replace the lost revenue from this court case, the County transferred $50,000 in 2020, 2022, and 2023 from the Insurance Liability Fund to the General Fund, leaving $50,000 to be transferred for 2021 which would require a budget adjustment, and
WHEREAS, per the Agreed Order, a balloon payment of $210,243.73 is due to Comcast of Illinois in 2024 and a budget adjustment is required; and
NOW, THEREFORE, BE IT RESOLVED by the Kane County Board that $50,000.00 be transferred from the Insurance Liability Fund #010 Account 53000 Liability Insurance to the General Fund #001, Account 34710 Cable Franchise Fees with the related budget adjustment:
001.000.000.39900 Fund Balance Utilization $50,000
001.690.000.34710 Cable Franchise Fees $50,000
010.120.130.53000 Liability Insurance $50,000
010.000.000.39900 Fund Balance Utilization $50,000
BE IT FURTHER RESOLVED, by the Kane County Board that the balloon payment of $210,243.73 be paid to Comcast of Illinois from the Insurance Liability Fund # 010 Account 53000 Liability Insurance with the related budget adjustment:
010.120.130.53000 Liability Insurance $210,243.73
010.000.000.39900 Fund Balance Utilization $210,243.73
Line Item: various, see resolution
Line Item Description: various, see resolution
Was Personnel/Item/Service approved in original budget or a subsequent budget revision? No
Are funds currently available for this Personnel/Item/Service in the specific line item? Yes
If funds are not currently available in the specified line item, where are the funds available?
NA
Passed by the Kane County Board on October 8, 2024.
____________________________ ____________________________
John A. Cunningham, MBA, JD, JD Corinne M. Pierog MA, MBA
Clerk, County Board Chairman, County Board
Kane County, Illinois Kane County, Illinois
Vote: