HomeMy WebLinkAbout01/23/1996 COW agenda COMMITTEE OF THE WHOLE
AGENDA
Meeting Location: Meeting Date and Time:
Mount Prospect Senior Center Tuesday, January 23, 1996
50 South Emerson Street 7:30 P.M.
I. CALL TO ORDER - ROLL CALL
II. ACCEPTANCE OF MINUTES OF JANUARY 9, 1996
III. CITIZENS TO BE HEARD
IV. BUDGET EXPENDITURE COMPARISONS
During the Committee of the Whole meetings to review the 1996 Budget, a number
of questions were raised regarding the percentage increase of the 1996 Budget
compared to the 1995 short-year Budget. In response, it was pointed out that prior
year comparisons were made on a "Budget-to-Budget" basis. However, because of
the short Budget last year, a similar comparison was not feasible. Instead, an
"annualized" figure was developed as an alternate means of comparison.
As a result of the questions raised and the confusion expressed by some citizens
who participated in the Budget Hearing process, Mr. Jepson reexamined the way we
present the Budget. While in the past several years we have made an earnest effort
to create "cost centers" within each Department so as to get a true picture of what it
costs to provide a particular service, the result is that it can distort the overall Budget
picture. Mr. Jepson has taken a more simplified approach and has broken the main
Village Budget into more understandable sub-budgets that have varying degrees of
impact on overall year-to-year Budget fluctuations. By looking at the annual Budget
in this manner, I believe we accomplish two things:
1. A further attempt is made to make the Budget document more
understandable to interested citizens.
2. We continue to get a clearer picture of what it costs to "run" the
Village.
Mr. Jepson's memorandum will provide the basis for a discussion of this topic.
Appropriate staff will be in attendance to answer questions and to facilitate
discussion.
V. PROPOSED 1996 BOND ISSUE
The 1996 Budget provided for a Bond Issue of approximately $3.6 million to finance
certain Capital Projects. Since the first of the year, funding requirements have been
refined and market conditions suggest that it would be in the Village's best interest
to go to the market as soon as possible. Mr. Jepson will present information
regarding the Village's revised funding needs and lay out a time-line for issuance of
General Obligation Bonds.
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 100 SOUTH
EMERSON, MOUNT PROSPECT, ILLINOIS 60056, 847/392-6000,
EXTENSION 5327, TDD #847/392-6064.
VI. 1996 PARK RIDGE SURVEY
The most recent edition of the Park Ridge Survey has been released. Mount
Prospect once more finds itself at the bottom of the list, again suggesting that Mount
Prospect residents overall receive an excellent return on their tax dollars. The
Survey results will be reviewed with Board members.
VII. MANAGER'S REPORT
Viii. ANY OTHER BUSINESS
IX. ADJOURNMENT