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HomeMy WebLinkAbout07/28/2005 FC minutes FINANCE COMMISSION DRAFT MINUTES OF THE MEETING JULY 28, 2005 VILLAGE HALL BUILDING DRAFT I. CALL TO ORDER The meeting was called to order at 7 :02 p.m. Those present included Acting Chairman Vince Grochocinski and Commissioners John Kellerhals, Rich Micelli, Ann Smilanic and Tom Pekras. Also present were Deputy Director of Finance Carol Widmer, Finance Administrative Assistant Lisa Burkemper and resident Wayne Gardner. Chairman Charles Bennett, Commissioner Lee Williams and Director of Finance David Erb were absent. II. APPROVAL OF MINUTES Commissioner Tom Pekras motioned to approve the minutes of June 30, 2005 as corrected. Commissioner John Kellerhals seconded the motion and the minutes were accepted as corrected. In the minutes of June 30,2005, Commissioner Kellerhals stated his support in charging a fee to residents for ambulance services if the resident was billed to the extent that insurance or Medicare will pay and that the village would consider that payment as payment in full. Commissioner Kellerhals added that the minutes should have reflected that other members present that night agreed with the statement. After a brief discussion all members present tonight stated that they agree with and support the comments made by Commissioner Kellerhals on June 30th. Acting Chairman Vince Grochocinski mentioned that at the next meeting the Commissioner would need to select a Vice Chairman. III. REVIEW OF ANNUAL AUDIT Deputy Director of Finance Carol Widmer presented the Commission members with their copies of the Village's 2004 Annual Audit. Ms. Widmer stated the village received an unqualified opinion and the audit was found to be in compliance with generally accepted accounting practices. The audit met all guidelines and criteria with no major problems noted. Ms. Widmer also stated the audit would be submitted to the Illinois Government Finance Officers Association for approval. Ms. Widmer stated the Village's Single Audit and the TIF Audit also received unqualified opinions. Ms. Widmer also mentioned that the Management Letter addressed two items specifically. The first item pertains to the village establishing an audit committee to review the auditors on a four year basis, which will help in uncovering fraudulent activities. The second item in the letter addressed the practice of mar king investments at year end. Commissioner John Kellerhals asked how extensive the audit is for the TIF. Deputy Director of Finance Carol Widmer stated that the audit was brief. Commissioner John Kellerhals then asked ifhe could have a copy of the TIF Audit. Commissioner Rich Micelli asked ifthe village had an internal auditor on staff. Ms. Widmer stated that the village does not. DISCUSSION OF REVENUE ENHANCEMENTS PRESENTED TO THE VILLAGE BOARD Commissioner Ann Smilanic began a discussion on the combine sewer project by outlining some ideas of how to raise money for the projects. Commissioner Smilanic proposed adding a service fee and increasing sewer rates to avoid issuing any bonds to cover the projects. Acting Chairman Vince Grochocinski stated it was his understanding that the village would like to increase water and sewer rates to be able to at least cover costs. There was a brief discussion regarding Chairman Bennett's revenue enhancement presentation to the Board. The members agreed Chairman Bennett did a very good job at presenting the recommendations made by the Finance Commission members. IV. CHAIRMAN'S REpORT There was nothing to report. V. FINANCE DIRECTOR'S REpORT There was nothing to report. VI. NEW BUSINESS Commissioner John Kellerhals asked what the commission's role was in looking at or analyzing the monthly Budget Revenue and Expenditure Summary report provided to them. Ms. Widmer stated the information is provided to each member monthly and is for information purposes only. VII. Next Meeting: September 22,2005 There was a discussion regarding canceling the next meeting scheduled for August 25,2005. Commissioner Rich Micelli motioned to cancel the meeting scheduled for August 25, 2005, however they would give Chairman Bennett the right to reinstate the meeting if necessary. The motion was seconded by Commissioner Tom Pekras and the motion carried. Commissioner Ann Smilanic motioned to adjourn which Commissioner John Kellerhals seconded. The meeting was adjourned at 7:48 p.m. The next meeting is scheduled for September 22,2005. Respectfully submitted, Lisa Burkemper Administrative Assistant Finance Department 2