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HomeMy WebLinkAbout01/21/2016 FC MinutesPnntnm�qpxeLa FINANCE COMMITTEE Minutes of the Meeting January 21, 2016 3I Floor Executive Conference Room Village Hall, 50 S. Emerson Street I. CALL TO ORDER — ROLL CALL The meeting was called to order at 7:03 p.m. by Chairman Vince Grochocinski. Commissioners present included Pam Bazan, Trisha Chokshi, John Kellerhals, Don Ocwieja, and Thomas Pekras. Staff present included Finance Director David Erb and Administrative Analyst Alexander Bertolucci. II. APPROVAL MINUTES a. October 15, 2015 — Deferred b. October 22, 2015 — Motion made by Commissioner Pekras seconded by Commissioner Ocwieja. Minutes were approved as amended. c. October 29, 2015 — Motion made by Commissioner Kellerhals seconded by Commissioner Bazan. Minutes were approved. III. CITIZENS TO BE HEARD None IV. OLD BUSINESS None V. NEW BUSINESS Discussion on 2016 Work Plan Finance Director Erb provided background regarding the Village's Strategic Plan developed in 2014 and the Village's 2016 Strategic Plan Implementation Guide that was created in Fall 2015. He highlighted Sections 8 and 9 of the Implementation Guide as it related to the Commission's 2016 Work Plan. The Commission's objectives for the year include reviews of the property tax levy, Village's bonding capacity and practice, funding capital improvements, economic development incentives, alternative revenue sources and certain projects that require funding mechanisms. General comments from Finance Commission members included the following items: • Members asked for clarification regarding the priority ranking system within the Strategic Implementation Guide. • There were questions regarding the 2016 Action and Management in Progress items of Vehicle Replacement Policy (Evaluation, Direction, and Funding), Vehicle Replacement Schedule Analysis and Vehicle Maintenance Fee Analysis. • There was a discussion regarding the comprehensive water system report and rate study that will be completed in 2016. Topics included were variables impacting water rates, fixed verse variable rate structure, and funding for the water system's capital improvements. Finance Commission Page 1 of 2 01/21/16 • There were questions regarding the Northwest Suburban Municipal Joint Action Water Agency's (JAWA) water main relocation due to the Interstate 90 tollway expansion. Mr. Erb explained how the debt JAWA issued for the project is structured and member communities' debt repayment schedule. • There was discussion regarding the possibility to establish a regular funding plan for street improvements that do not include resurfacing. The objective would be to create a funding mechanism for street lights, pavement markings, and signs that could fund these improvements without utilizing funds from the street resurfacing program. • There were general comments regarding the state's budget impasse. Mr. Erb stated 2016 should be relatively stable even without a state budget; however, more significant impacts to the Village's budget may be expected in 2017. • There was a discussion regarding the Police Department's space needs. The Commission requested a tour of a more modern police station and the Fire Department portion of the Public Safety Building. The Finance Commission developed a 2016 work plan and reviewed the meeting dates. Mr. Erb stated that the work plan will have a quarter to quarter focus and based on how things develop agenda items may change. Mr. Erb noted budget meetings will be joint meetings with the Village Board and Finance Commission and the budget process will be moved up by two weeks. VI. OTHER BUSINESS None VII. CHAIRMAN'S REPORT None VIII. FINANCE DIRECTOR'S REPORT None IX. NEXT MEETING Thursday, January 28, 2016 at 7:00 p.m. in 3rd Floor Executive Conference Room, Village Hall, 50 S. Emerson Street. X. ADJOURNMENT Motion made by Commissioner Kellerhals seconded by Commissioner Chokshi. The meeting adjourned at 9:37 p.m. ALEXANDER BERTOLUCCI Administrative Analyst Finance Commission Page 2 of 2 01/21/16