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HomeMy WebLinkAbout1. COW Agenda 09/25/2012'7f1 F � @S6 inw �i qJ ry `^r p Y III COMMITTEE OF THE WHOLE AGENDA IV. Meeting Location: Mount Prospect Village Hall 50 S. Emerson Meeting Date and Time: Tuesday, September 25, 2012 7:00 p.m. CALL TO ORDER - ROLL CALL Trustee Paul Hoefert Trustee John Korn Trustee Steven Polit Mayor Irvana K Wilks Trustee Arlene Juracek Trustee John Matuszak Trustee Michael Zadel APPROVAL OF COMMITTEE OF THE WHOLE MINUTES FOR SEPTEMBER 11, 2012 CITIZENS TO BE HEARD AMENDMENTS TO CHAPTER 5 OF THE VILLAGE CODE — AUDIT COMMITTEE The Village of Mount Prospect established an Audit Committee in September 2005. The purpose of the committee is to further enhance the independence of the auditor by providing a direct link between the auditor, the corporate authorities and Village management. The committee is advisory in nature and intended to assist the corporate authorities in obtaining and monitoring the Village's annual audit to ensure a fair and accurate presentation of the Village's financial statements. Several revisions to Chapter 5 of the Village code are being recommended with respect to the governance and administration of the audit committee. Material changes appear in the committee purpose and committee membership sections of the code along with the process for selecting the committee chair. Included with the agenda packet is a memo detailing the proposed revisions along with the ordinance amending the Village code. The Chair of the Audit Committee and staff will make a presentation of the materials and be on hand to answer questions and facilitate discussion. V. COMPREHENSIVE ANNUAL FINANCIAL REPORT — DECEMBER 31, 2011 Each year the Village retains the services of a CPA firm to audit its financials and assist in the preparation of the Comprehensive Annual Financial Report. Lauterbach & Amen performed the audit for the Village for fiscal year ended December 31, 2011. As part of the audit, Lauterbach & Amen is required to prepare various communications to the Village's governing board. The purpose of these communications is to inform the board of any problems encountered during the audit, and to report any deficiencies in internal controls uncovered during the course of the audit. Lauterbach & Amen has given its audit of the Village for year -end 2011 an "unqualified opinion." Their examination found our financial statements to be fairly presented and prepared in accordance with generally accepted accounting principles. Staff will make a presentation on the materials and be on hand to answer questions and facilitate discussion. VI. AMENDMENTS TO CHAPTERS 9 AND 19, AND APPENDIX OF THE VILLAGE CODE FOR WATER AND SOLID WASTE COLLECTION The Village Code for water and solid waste collection was last amended in November 2007. At that time revisions were made to chapters 9 and 19 to account for the implementation of single family refuse billing and the use of toters in solid waste collection of residences. Revisions were also made to the charge related to managing delinquent accounts. New utility billing software will allow changes to frequency and other aspects of utility billing to gain operational efficiencies. The most noteworthy change will be moving from a bi- monthly to a monthly billing period. The Village currently bills all water utility customers every two months. Approximately one - quarter of customers are billed on the 15 and 30 of every month. The new billing system will allow all customers to be billed on the 15 of every each month. Another noteworthy change shortens the period of time an account is allowed to remain delinquent before commencing shut -off procedures. The proposed change reduces the time period 90 to 60 days. The shorter period takes into account the change from bi- monthly to monthly billing periods. Changes to late fees and early payment discounts for multi - family solid waste collection are also being proposed. Included with the agenda packet is a memo detailing the proposed revisions along with the ordinance amending the village code. Staff will make a presentation on the materials and be on hand to answer questions and facilitate discussion. VII. MANAGER'S REPORT • Status VII. ANY OTHER BUSINESS IX. ADJOURNMENT NOTE: ANY INDIVIDUAL WHO WOULD LIKE TO ATTEND THIS MEETING BUT BECAUSE OF A DISABILITY NEEDS SOME ACCOMMODATION TO PARTICIPATE, SHOULD CONTACT THE VILLAGE MANAGER'S OFFICE AT 50 SOUTH EMERSON, MOUNT PROSPECT, ILLINOIS 60056, 8471392 -6000, EXTENSION 5327, TDD #8471392 -6064