HomeMy WebLinkAbout07/29/1997 COW agenda SPECIAL MEETING
COMMITTEE OF THE WHOLE
AGENDA
Meeting Location: Meeting Date and Time:
Mount Prospect Senior Center Tuesday, July 29, 1997
50 South Emerson Street 7:30 P.M.
i. CALL TO ORDER - ROLL CALL
II. ACCEPTANCE OF MINUTES - NONE
iii. CITIZENS TO BE HEARD
IV. 1997 MID-YEAR BUDGET REVIEW - 1998 PRE-BUDGET WORKSHOP
Traditionally, the Village Board has engaged in a mid-year review of the current
year Budget as a means of monitoring the Revenue and Expenditure levels
contained therein. In 1996, the Village Board added a new component to this
process, a Pre-Budget Workshop, specifically designed to look forward toward the
coming Budget year with the idea of setting parameters and giving staff direction
for the next Budget. This latter exercise was facilitated by the inclusion of a
forecast budget in the annual Budget document.
With the close of June financial activity, staff is now in the position to present mid-
year financial data as well as review the 1998 forecast Budget. Overall, I believe
you will find the Village--s finances to be in order for 1997 and that based on the
1998 forecast budget presented last year, we will need to consider steps to erase
an approximate $325,000 deficit in the Village--s General Fund.
In this latter regard, it is anticipated that the Village Board and staff will engage in
an overview of the upcoming Village Budget with particular focus on problems,
trends, initiatives and revenue/expenditure projections. The discussion will lead
to establishing general parameters for the construction of the actual Budget
document that will be formally considered later in the year.
As was the approach last year, I would again suggest that the focus remain broad
as opposed to more detailed discussions regarding specific line items. If, during
the Pre-Budget Workshop, questions arise regarding current or new initiatives
proposed by staff or Village Board, I would again suggest that the focus be on
defining the initiative and what the issues are pro and con so that staff can then
undertake research with the idea of being prepared for detailed discussion at the
regular Budget Hearings.
In that same light, it would be appropriate for Board members to raise individual
items or initiatives which they would like to have considered in preparation of the
upcoming Budget. A ABudget Suggestion~ sheet is included in your information
package. If at all possible, I would ask that completed sheet(s) be brought to the
meeting for consideration by the entire Board. If there is consensus to pursue
particular items, then staff can follow-up as appropriate and include same within the
proposed Budget document.
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.
Finance Director Brian Caputo will provide an overview of his report and
appropriate Department Directors and staff will be available to answer questions
and facilitate discussion. You may want to bring your 1997 Budget book to the
meeting as additional reference material.
V. VILLAGE MANAGER--S REPORT
Vi. ANY OTHER BUSINESS
Vii. ADJOURNMENT