HomeMy WebLinkAbout09/27/1978 FC Committe ReportV111age of Mount Prospect
100 S. Emerson
Mount Prospect, Illinois 60056
COMMITTEE REPORT
TO: Mayor & Board of Trustees
FROM: Trustee Leo Floros, Chairman, Finance Committee
SUBJECT: Finance Committee Meeting 9-27-78
DATE: September 29, 1978
Present: Chairman Floros; Trustees Murauskis & Richardson
Also Present: Finance Director D. Jesse, Deputy Director B. Tanner,
Acting Village Manager E. Geick; Jack Rgnchetto,
Finance Commission, and Terry Frakes, Insurance
Commission.
Insurance Program:
The Committee heard from Bill Radtke, the Village's insurance agent,
and from representatives of Governmental Interinsurance Exchange (GIE),
GIE presently provides the Village's insurance coverage in the areas
of general liability, auto liability, and other coverage for public
officials. Basically, Mr. Radtke and Jim Bliss of GIE presented
arguments why Mount Prospect should continue its present insurance
program as opposed to entering into a protected self-insurance pool
with other municipalities, as has been recommended. The complexity
of the:problem, the Committee agreed, points up the necessity for
hiring an insurance consultant to review the Village's insurance
program and to make recommendations on what course of action we should
follow (see next item).
Insurance Consultant:
The Committee reviewed the proposals submitted for a Village insurance
study (see memo of 9/27/78 from Mr. Geick to the Mayor & Village Board
on this subject). The Committee, by a vote of 3-0, recommends the
hiring of the firm of Ebasco of Chicago to undertake a study of the
Village's property and liability insurance coverage for a cost not to
exceed $7,000. The study will be completed in 9-12 weeks. F,basco,
incidentally, has served a number of other Chicago area communities,
including Glenview, Wheeling and Berkley.
The Committee also, by a vote of 3,0, recommends that the health and
medical insurance coverage be put out to bid for the year beginning
May 1, 1979, Wel have not bid the health and medical insurance for
a period of some 6 or 7 years. The Committee does not recommend an
insurance study on this portion of our coverage at this time.
Liquor Ordinance:
In response to a request of the Finance Committee, the Village Attorney
prepared an ordinance that would serve to cancel a liquor license upon
transfer of ownership of a business. The Committee, by a 3-0 vote,
approved the ordinance that would amend Section 13.107 of the Municipal
Code.
Leo Floros
LF:msw Chairman