HomeMy WebLinkAbout05/30/1978 FC MinutesMount Prospect Finance Commission
Minutes of meeting May 30, 1978
Attending: Chairman Ronchetto, Commissioners Bachhuber, Beier, Clauser, Friedl, Hasse, Hiehle,
Linkman.
Chairman Ronchetto called the meeting to order at 8:00 P.M.
The minutes of the previous meeting were approved unanimously.
Terry Frakes of the Mt. Prospect Insurance Commission addressed the Commission on the subject
of proceedures used to obtain fire and casualty, workmen's compensation and general liability
insurance for the Village. The Commissioners then asked some questions of Mr. Frakes and
a discussion ensued. The Commission members thanked Mr. Frakes for his attendance and
assistance.
It was the consensus of the Commission that Chairman Ronchetto should voice to Chairman Frakes
the concern of some Finance Commission members that the one million maximum insurance limit
might prove to be inadequate at some future date and the Commission, --.6 interest in seeing if
some additional form of competition might be injected into the procurement process.
Notes of possible interest: Present coverage by Intergovernmental Insurance Exchange which
in turn reinsures with other companies. Cost $265,000.00 for "250"e00 deductable on automobiles,
$1,000.00 deductible on buildings and no deductable on general liability. Employee medical
coverage and some other Village insurance not included in this package.
Herb Weeks, Mt. Prospect Director of Public Works, addressed the Commission concerning the
process and proceedures used by the Village to procure gasoline and oil supplies for village
vehicles. The Commissioners then asked some questions of Mr. Weeks and a discussion ensued.
Mr. Weeks presented a written report to the Commission and stated the Village pays 50.92
for regular and 57.47 for lead free. The Village presently uses 125,000 gallons a year,
and our allocation is 140,000. He said competitive bids could not be taken without losing
our federal allocation and that he could not recommend this step at this time.
The Commission thanked Mr. Weeks for his attendance and presentation.
The Commission's gasoline and oil procurement survey was discussed and a report was set for
the next meeting.
Chairman Ronchetto adjourned the meeting at 10330 P.M.