HomeMy WebLinkAbout0774_001Meeting Location:
Senior Citizens' Center
50 South Emerson Street
I. CALL TO ORDER - ROLL CALL
II. ACCEPTANCE OF MINUTES OF, MAY 26, 1987
Ill. CITIZENS TO BE HEARD
IV. 1986/1987 YEAR-END BUDGET UPDATE
Meeting Date and Time:
Tuesday, June 23, 1987
7:30 p.m.
Attached is the end of last fiscal year's Budget report. The report indicates
that the Village continues in a very sound financial position. There has been an
increase in the cash carried forward of $400,000 in the General Fund. This is
due partly to additional revenues which came in primarily through the State
Income Tax, licenses and permits. In addition, there was a reduction in total
expenditures. This can be attributed partly to the mild winter and delay of
purchasing equipment.
V. MOODY'S CREDIT REPORT
Attached is a copy of the Moody's Credit Report for the Village of Mount
Prospect. Their analysis allows us to retain our Aa rating. The Village will be
pleased with the report. It indicates we are a fiscally sound community that
provides excellent services. Of all of the categories in which credit agencies
review communities, we rate very well in annual income, housing costs and total
employment.
We also rate very well with other communities in the United States as far as
total costs to provide services.
VI. FOREST RIVER FIRE PROTECTION DISTRICT
We have had the opportunity to review the financial records of the Forest River
Fire Protection District for the last two years. This has been beneficial for us
to better understand t ' heir operations. There are some specific recommendations
and modifications to the Forest River Fire Protection District contract and this
is covered in the Manager's Report being sent out on Friday, June 19.
Primarily, we will be permitted to review financial records of the District on a
quarterly basis. Some of the 'operating fund will be left with the District and
we are recommending that the additional revenues be turned over to the Village.
There is a water engineering analysis amount which we are also recommending
be separated from the Fire Protection District and be held by the Association
along with the responsibilities of the Association building. If this meets with
the Board's approval, we will continue our discussions with the Forest River Fire
Protection District representatives.
VII. PROFILE PUBLICATIONS
The Village has received a request from the Chamber of Commerce for us to
run an ad in the next Profile Publications brochure on the Village of Mount
Prospect. To run a similar ad as we have in the past will cost us $3,395.00 for
a two-page ad.
If the Board wishes to participate in this brochure, there are funds available in
the Public Representation account.
VIII -MANAGER'S REPORT
Status Report.
IX. ANY OTHER BUSINESS
X. ADJOURNMENT
DEFERRED ITEMS
Traffic Ordinance Sunset Provisions
Citizens Utilities Rate Case
911 System
Legal Fees and Services Overview
Multi -Family Rehabilitation
Taxicab Fee Regulations
Street Improvements - Cost Sharing
Ten Year Road Improvement Program