HomeMy WebLinkAbout02/10/1981 FC Minutesw,
Village of Mount Prospect
100 S. Emerson
Mount Prospect, Illinois 60056
TO:: Mayor & Board of Trustees
FROM: Trustee Ed Miller, Chairman Finance Committee
DATE: February 12, 1981
Re: Minutes of Finance Committee Meeting,
February 10, 1981
The meeting was called to order at 8:00 P,M, in the Village Manager's
office.
Present were: Trustee Ed Miller, Trustee E. F. Richardson, Trustee
Gerald Farley, Village Manager Terrance Burghard, Director of Management
Services Martha H. Peppler, Members of the Library Board, Mr, Vito Colucci,
and Mr. Edmond Ellis of Moloney's.
Liquor License A liCation - Moloney's
Mr. Edmond Ellis, President of Moloney's at 1904 Elmhurst Road was present
to apply for a Class W license - beer and wine only at dining tables only.
Mr. Ellis explained that Moloney's was revising the food portion of its
menu to attract more lunch customers. They,plan to emphasize deli -type
sandwiches and think that beer and wine is a necessary compliment to this
change in menu.
Mrs. Peppler noted that the Health Department had conducted an inspection
of the premises and reported no serious problems. Moloney's has agreed,
to work with the Health Department in developing good liquor handling
procedures.
Mrs. Peppler also reported that all of the Police checks were not completed
but nothing damaging had been discovered so far.:
Trustee Richardson expressed some concern another liquor license being
issued in this area of Elmhurst Road. He noted that the new Charlie Club,
The Red Lobster, and Kampai Japanese Steak House, all held licenses along
this section of Elmhurst Road, Mr. Ellis stated that Moloney's feels that
the liquor license is necessary to compete in this area.
Mr. Miller said that absent any strong objections he would agree to create
a license for Moloney's. Mr. Richardson concrrred. The Committee will report
to the Board to recommend that a Class W license be created for Moloney's
contingent upon satisfactory completion of all Police checks.
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Librar._Lon-Term Financin Plan
Mr. Miller began a discussion with the members of the Library Board about
their long-term financing needs. He presented a°cash-flow plan which was
developed,to depict the next two years revenues and expenses for the
Library.
The members of the Library Board reiterated their position that the Village
had always been the Library's cash-flow buffer. They observed that there
had been a misunderstanding at the time their budget & levy was submitted
concerning theirexpectationof a subsidy of $103,000. Mrs. Viger suggested
that a compromise figure of $50,000 might be more realistic. There was also
agreement that the Library would levy,the Working Cash Fund and get Tax
Anticipation Warrants from the bank to cover the cash-flow needs.
Mr. Miller expressed his feeling that the Library must hold the line on
expenses; he stated that he would not support a subsidy of any amount be-
cause it would not solve the Library's problem and would have a negative
effect on the Village's own cash-flow position. He does favor a longer
loan repayment plan for the funds currently advanced to the Library. Mr.
Miller announced that he will submit a report of his own to the Board on
February 17, 1981.
Mr; Richardson stated that he agrees with the concept of a subsidy.
Audit Arran ement Letter - Lester Witte & Com an
Mrs. Peppler presented the arrangement letter for the audit for the year
ending April 30, 1981. This would be the third year for Lester Witte &
Company. The proposal includes special provisions for an in-depth look at
the new computer system; this special look at the internal controls of the
computer would only be°required this year. Last year's cost was $14,000;
this year's quote is $18,000 -- $1,700 of which is directly attributable
to the computer study.
The Committee asked the staff to secure a quotation from Lester Witte for
the audit of the Library. This would alleviate 'the problem that was caused
last year with the two separate auditing firms. The staff agreed to work
closely with the auditors and the Library staff to ensure that the Library
receives the in-depth audit that they have requested.
The Committee agreed to -recommend to the Board that Lester Witte be engaged
to perform the audit for the Village for the year ending April 30, 1981.
Clarification of Bud et Officer Provisions of Villa e Code
The Committee discussed the possible clarification of the Budget Officer
provisions of the Village Code. Mr. Burghard reported that certain por-
tions of the code concerning amending the budget was inadvertently deleted
when another section was amended. This ommission causes the Village to be
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governed-by
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governed by the State Statutes which apply to the Budget Officer Act; this
section of the Statute is somewhat ambiguous on the question of amending
the budget.
The Committee asked .the Staff to discuss this matter with Marlin Smith and
to propose'a draft ordinance to correct the situation to the Committee
for their future consideration.
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