HomeMy WebLinkAbout11/30/1978 FC Committee ReportMount Prospect Finance Commission
Minutes of the meeting of Novemhcr 30, 1978
Present: Chairman Ronchetto, Commissioners Bachhuber, Beier, Clauser, Hallman, Hasse,
Hiehle and Linkman. Assistant Finance Director Bill Tankard
Chairman Ronchetto called the meeting to order at 7130 pm.
The minutes of the previous meeting were approved with one abstention. (Commr. Hiehle
abstained having been absent the last meeting) (?-0)
Village Manager Terry Burghard addressed the Commission and provided his views on a
number of subjects. He discussed some projects and needed improvements related to
storm sewer maintenance, flood control projects at Weller Creek and elsewhere.
Commr. Hasse moved that the Chairman draft a report to the Board of Trustees for
Commission approval stating our recommendations for maximizing the Village's return
on short term inves ment of idle funds,. Seconded, Commr. Bachhuber. Passed 8-0.
Annual audit proce duces, the timing and quality of service new being rendered were
discussed at length and the Commission agreed to study this area in more detail.
Trustee Wattenberg's request of Chairman Ronchetto concerning the legal department was
discussed and the Commission's report on this subject was reviewed.
The next meeting was scheduled for Saturday, December 16, 8:30 am.
Chairman Ronchetto adjourned the meeting.
05/AUE3FM0M1ffkEW3331NMEM=
100 S, Ernerson
N/Iount ProspocL., 111inr iiF3 60056
OMM T
E' R 1", P0 R T
TO: Mayor & Board of Trustees
FROM: Tri.istee Leo Flo-.ros, Cliai-rman., 1"inance Committee
SUBJECT Finance Commi t tee. Meeting 11-30-78
DATE: December 1-2, 1978
Present: Chairman L. Flo ros - Trustees N. Murausk i s & 1:,. P lzi cha r-dson
Also Present: Vill--ige Manager T. Bnrghard, Asst., Man -ager E. Geick,
Finan(_c Director R. Jesse, Director of Engineering B.
Hemmeter, and Director of Public Works ff. Weeks
Liauor License Traflsf er - Si z z le r S [.ea.k House, 110 E. Rand Road:
Mrs. Anne Menke and Mrs. Xenie Kunc, who are in the process of pur-
chasing the subject restaurant, appeared before the Committee to request
a transfer of the Class W license to the new owners. This is in line
with a new ordinance recently adopted by the Village Board. Joe Walsh,
attorney for the present owner, X -Cel, Inc., was also present. The
Committee had been informed by Health Services Director, Larry Eils,
that there had been some problems relating to sanitation at the Sizzler
Steak House. Mr. Eils wanted to be sure that the new owners were aware
of these problems so that they might be corrected before new owners
assumed control. Necessary corrections, the Committee was advised,
were being made.
The Committee voted 3-0 to approve the transfer of the Class W license
to the new owners of Sizzler's Family Steak House Restaurant.
Low Interest Mortgage Program:
The Committee heard from representatives of Stern Bros. & Company and
Ziegler S&curities, investment banking organizations interested in under-
writing a revenue bond issue that would provide single family mortgage
rates at lower than prevailing rates. The Commitee also heard from
representatives of First Federal Savings & Loan, Arlington Federal,
and First National Bank of Mount Prospect. After lengthy discussion,
the Committee agreed to continue the discussion and to vote on the
matter at its January meeting.
Flood Control -Bond Fund:
The Committee reviewed the recommendations from the Finance Commission
contained in the Commission's memorandum dated November 6, 1978. The
Committee also heard from administration --from Terry Burghard, Herb
Weeks and Ben Hemmeter--and reviewed memorandums from Messrs. Weeks
Hemmeter as to the planned use for the $617,000 now contained in the
bond fund. The Committee unanimously agreed not to take any action
to dispose of the bond funds.
It is recommended that expenditures planned for the 1979-80 fiscal
year be reviewed by the Village Board as part of the budget process.
(over)
M6lu+d1
uvwaTvgD
S040TA oat
'6L6T `T AEW OAT430JJG amooaq ITTM
�uama9u�xxB as Tv4ua.z Oq4 la@j4TuiwoD an.T4noaxd aauaxajuoa TudTOTunW
IsOmt[440N 0144 Jo TIenoaddu po4oadxa oil; SuTpuad •avoA aad STo'Vi 0.
4unowv TTTM sT4,L '9au9x9JuOD TudToTunW 4samgjaoN aqz Xq pasn 5uTaq Mou
aosds TT$H 95VTTTA 944 ,z O3 '4J 'bs aad OS,S$ ,To aOJ Tu;uax u 4sTTq$;sa
o4 ' a3uaaajuoD TedTaTunW jsomg4agN aq4 g4TM 4uawaa42u Tv4ua4 n 049T
4@4ua 04 poax?v `pauOU 95uTTTA Oq4 Aq pazTaog4nu se 4994zTwwoo aqj,
:Tu4uo4 aouds a3uaaaju0D Tud.TOTunw 4saMu!XON
°Z ovvd SZ -0£ -TT SuTI"W aa44T'UWOD aouUuTd