HomeMy WebLinkAbout1b. Joint Financial Planning Workshop 07/14/2015
JOINT WORKSHOP
AGENDA
Meeting Location:Meeting Date and Time:
Mount Prospect Village HallTuesday, July 14, 2015
Village Board Room6:30 P.M.
50 South Emerson Street
Mount Prospect, Illinois 60056
I.CALL TO ORDER
II.ROLL CALLVILLAGE BOARD
Mayor Arlene A. Juracek
Trustee Paul Wm. HoefertTrustee Richard F. Rogers
Trustee John J. MatuszakTrustee Colleen E. Saccotelli
Trustee Steven S. PolitTrustee Michael A. Zadel
ROLL CALLFINANCE COMMISSION
ChairVincent Grochocinski
Commissioner Pam BazanCommissioner Don Ocwieja
Commissioner Trisha ChokshiCommissioner Thomas Pekras
Commissioner John KellerhalsCommissioner Mary Rath
III.CITIZENS TO BE HEARD
IV.ALTERNATIVE FUEL STUDY
Staff will present the Alternative Fuel Study written report prepared by public fleet
management consultant Mercury Associates, Incorporated of Rockville, Maryland
(Mercury).
The report presents analyses and recommendations regarding the viability of utilizing
alternative fuel technologies in the village-owned fleet of vehicles. Mercury, working in
conjunction with Public Works Department vehicle maintenance staff, considered each
locally available alternative fuel technology based on environmental benefits, operational
efficacy, and cost effectiveness.
Representatives from Mercury, along with village staff, will make a short presentation
and facilitate any ensuing discussion.Information is presented by staff for direction from
the Village Board.
Strategic Plan Goal:Environmental Sensibility
Infrastructure-
Explore opportunities to provide green initiatives.
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V.2015-2019CAPITAL IMPROVEMENTS PLAN
In 1997, the Village Board formally adopted its first comprehensive five-year Capital
Improvements Plan (CIP). The establishment of a formal five-year CIP provides a
comprehensive view of the Village’s capital needs for consecutive rolling five-year
windows. The CIP also addresses the Government Finance Officers Association best
practice recommendation for preparing and adopting a multi-year capital planning
strategy.
The proposed 2016-2020CIP is generally comprised of projects that involve the
purchase or construction of long-lived, tangible assets at a cost of $25,000 or more. The
total cost of all requests for all years included in the plan is $65.2million.
Many of the requests in the plan are simply continuations of established projects.
Others are projects not currently in progress but have been discussed by the Village
Board on previous occasions. Some requests are being presented for the first time
through the CIP. Given that the CIP is intended to afford a comprehensive view of the
Village’s capital needs, it is fitting that all of these project requests be included in the
proposed plan.
A project’s inclusion in the CIP does not guarantee its funding and accomplishment. The
CIP is a planning document. As such, it is subject to change. The CIP is reviewed and
updated on an annual basis. The next CIP will cover the years 2017-2021.
The 2016project requests included in the proposed CIP amount to $11.6million. This
amount reflects adecrease of $0.9millionfrom first-year projects in the 2015-2019CIP.
Projects included in the first year of the plan includethe annual street resurfacing
program, improvements to the water and sewer system, improvements to village
buildings, and various equipment purchases.
The proposed 2016-2020CIP was distributed on June 12, 2015to the Finance
Commission and the Village Board. The CIPis scheduled for considerationby the
Village Board at the July 21, 2015Village Board meeting.
Departmental representativeswill make a presentation on the projects included in the
five-year planand will be on hand to answer questions and facilitate discussion.
Strategic Plan:Fiscal Health
Governance-
Maintain a solid fiscal position through active stewardship of Village finances.
Examine the Village’s basic funding structure for long-term sustainability.
VI.MANAGER’S REPORT
Status
VII.ANY OTHER BUSINESS
VIII.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, 847/392-6000 or djarosz@mountprospect.org
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