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FINANCE COMMISSION
MINUTES OF THE MEETING
MARCH 19,2009
VILLAGE HALL BUILDING
I. CALL TO ORDER
The meeting was called to order at 7 :07 p.m. Those present included Chairman Vince Grochocinski and
Commissioners Pam Bazan, Wayne Gardner, John Kellerhals, Tom Pekras and Ann Smilanic. Also
present were Director of Finance David Erb, Deputy Director of Fifl:~ce Lynn Jarog arid Finance
Administrative Assistant Lisa Burkemper. Commissioner Don Oc;wj~ja was absent.
II. ApPROV AL OF MINUTES
Approval of the January 22, 2009 minutes was deferre.qfor lack ofa quorum.
Commissioner Ann Smilanic motioned to approye the minutes of February 26,2~~9 as submitted.
Commissioner Tom Pekras seconded the motion. With all members in favor and the minutes were
approved as submitted.
III. TREASURER'S REpORT PRESENTATION
Director of Finance David Erb provided./ld.raffversion of a comprehensive monthly report that includes
the Cash Position Report Summary, Cash Activity S~ary and StatctpentofInvestments Report. The
three new reports will repl;;t.c~the Cash P nand Statefii Investment Reports that the Village
Board and Finance Commissio urrently eive~ Mr. Erb ed that these changes to the Cash
Position Report and/Statement of estments will provide more consistency.
IV. OTHER BUSINESS
Commissioner Ann Smilanicmentioned that she attended the recent Village Board meeting where Fire
Chief Mike Figolah advisedthat the floor plan of proposed Station 14 was changed to allow bunk rooms
on the first floor thus increasing the square footage. Ms. Smilanic added that the increase in the square
footage increased thec()$t by nearly $1 million.
Director of Finance David ~rb stated that the additional $1 million was not only from the additional
square footage that was added, it was also an overall increase in building costs per square foot for the
entire building.
V. CHAIRMAN'S REPORT
There was nothing to report.
VI. FINANCE DIRECTOR'S REpORT
Director of Finance David Erb provided an update of year-end 2008 revenues. Sales tax for year-end
2008 totaled $10,066,000, which was a 14.25% increase over 2007 figures. Ofthe 14.25% increase, 4%
was attributed to a sales tax remitter that made a catch up payment. Income tax received in 2008 totaled
$5.3 million, which represented a 7% growth over 2007. Mr. Erb added that $5.4 million was budgeted
for 2009; however, he felt receipts would probably fall short by $200,000 to $300,000.
Minutes of the Finance Commission
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March 19, 2009
Mr. Erb discussed the preparation of a contingency plan for the General Fund to address revenue
shortfalls. Three scenarios were prepared based on different assumptions for the various kinds of
revenue.
Commissioner John Kellerhals asked how the Village would decide to make the necessary cuts if
revenues fall short. Mr. Erb stated that staff would make recommendations to the Village on how to
address the shortfall.
Commissioner John Kellerhals asked when the Village would find out if they were the recipient of the
$1 million grant for the Emergency Operations Center. Mr. Erb statedth~t the Village would probably
find out mid to late summer 2009.
VII. Next Meeting: April 28. 2009
Commissioner John Kellerhals motioned to adjourn, wmenCommissioner
meeting was adjourned at 9: 12 p.m. The next me~tip.g will be Tuesday, April
'lanic seconded. The
, 2009.
Respectfully submitted,
Lisa Burkemper
Admliimative Assistant
FiI1.Mce Department
Minutes of the Finance Commission
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March 19, 2009