HomeMy WebLinkAbout04/27/2006 FC minutes
FINANCE CO~I~nSSION
DRAFT
MI:"iCTES OF THE MEETI:"iG
APRIL 27, 2006
VILLAGE HALL BUILDI.'.G
DRAFT
L CALL TO ORDER
The meeting was called to order at 7:(j1j p.m. Those present included Chairman Charles Bennett and
Commissioners Vince Grochocinski, Tom Pekras, Ann Smilanic and Lee Williams. Also present \vere Director of
Finance David Erb, Deputy Director of Fin:mce Carol Widmer and fmance Administrative Assistant Lisa
Burkemper. Commissioners Rich Micelli and John Kellerhals were absent.
II. ApPROV AL OF Mr~L'TES
Commissioner Vince Grochocinski motioned to approve the minutes of January 26,2006. Commissioner Tom
Pekras seconded the motion and the minutes were accepted as presented.
Finance Director David Erb announced to the Commission that Commissioner Rich Micelli had recently sent a
letter of resignation to the Mayor. Mr. Erb advised that Mr. Micelli \vas offered a job that would cause him to
relocate out of town.
III. NEW BUSINESS
A. Review Year to Date Figures on NeH' Revenue Enhancements
Finance Director David Erb stated that the new refuse program will begin to bill on the July water bills. Mr. Erb
stated that in 2006 there will be three 525.00 charges added to the water bills through the end of the year.
Mr. David Erb provided an overview of the new revenue enhancements. Mr. Erb stated that the budgeted amount
for the Motor Fuel Tax is 5300,000 and receipts are now estimated to be approximately 5345,000.
Also discussed was the new ambulance program. Mr. Erb stated that Andres has billed for January, February and
March for a total of5255,000, and to date the village has received 540,000. Mr. Erb also stated that the estimated
annual billing should be approximately 5 1 ,020,000, although the village will not collect 100% of the monies owed
and will have to deduct Andres fees.
Mr. Erb advised that sales tax is up 12% from the previous year (one month reporting) and for the first three
months of2006 both State Income Tax and Personal Property Replacement Tax are up 7% from the previous year.
In addition Motor Fuel is down 3% for the first three months of the year and Local Use tax is showing an increase
of 22%. Mr. Erb also stated that investment income is up because short term interest rates have increased.
Chairman Charles Bennett asked how the village fared last year in the budget. Mr. Erb stated that the village
finished the year strong. Mr. Erb added that sales tax \vas up 2% over the previous year and Real Estate Transfer
Tax came in 5400,000 over budget.
Chairman Charles Bennett stressed his belief that unanticipated revenue sources should be earmarked for the
Capital Improvements Fund.
Mr. Erb provided a brief overview of the Park Ridge Survey in which Mount Prospect ranked the 11 th lowest in
2005.
Chairman Charles Bennett asked if the Park Ridge Survey findings are communicated to the residents. Mr. Erb
stated that the findings are presented to the Village Board during the Mid Year Budget Review.
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B. Organizational Structure Review
Mr. Erb stated that the organizational structures could be discussed in more depth at the Mid Year Budget Review
with the department heads. .
Commissioner Vince Grochocinski stated that he felt it was presumptuous of the commission to make any
recommendations regarding the various organizational structures. Several members agreed and stated that they did
not feel qualified to make these recommendations.
IV. OLD BUSINESS
Chairman Charles Bennett voiced his concerns over the $ 100,000 earmarked for a space study. The members had
a brief discussion regarding the study and determined they would like to have a tour of the police and fire
headquarters possibly for their scheduled meeting in May.
V. CHAIRMAN'S REPORT
There was nothing to report.
VI. FINANCE DIRECTOR'S REPORT
Finance Director David Erb stated that the auditors were at the Village for seven days and had no problems to
report.
VII. OTHER BUSINESS
There was nothing to report.
VIII. NEXT MEETING: MAY 25, 2006
Commissioner Tom Pekras motioned to adjourn which Commissioner Vince Grochocinski seconded. The meeting
was adjourned at 9: 17 p.m. The next meeting will be Thursday, May 25, 2006.
Respectfully submitted,
~CA- ~~
Lisa Burkemper
Administrative Assistant
Finance Department
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