HomeMy WebLinkAbout11/08/2006 FC minutes
FINANCE COMMISSION
DRAFT
Minutes of the Meeting
November 8, 2006
Village Hall
I. Call to Order
The meeting was called to order at 7:02 p.m. Those present included Chairman Charles
Bennett and Commissioners Vince Grochocinski, Tom Pekras, Ann Smilanic, and John
Kellerhals. Commissioner Wayne Gardner arrived at 7:06.
II. Approval of Minutes
A motion to approve the minutes of the meeting of October 25, 2006 was made by
Commissioner Smilanic and seconded by Commissioner Pekras, and the minutes were
accepted unanimously as presented.
III. Review of the Proposed 2007 Village Budget
Chairman Bennett indicated that the goal of the meeting was to prepare a document
outlining the recommendations of the Commission regarding the 2007 Village Budget
which he will present to the Village Board.
Discussion took place on a department by department basis and Chairman Bennett
summarized the issue in a memo distributed to the Finance Commission and presented to
the Village Board. That memo is attached and hereby incorporated into these minutes as
the result of the discussions of this committee.
Chairman Bennett also presented to the Commissioners a memo entitled "Alternatives for
Assuring Capital Improvement Funding for the Village of Mount Prospect for fiscal year
2007" In summary the 5 alternatives were:
1. Increase the home rule sales tax to 1%.
2. Reduce the General Fund balance to 25% from the projected 30.25%.
3. Split the reduction in the General Fund balance between a new phone system 25%
of the reduction and the new fire station 25% of the reduction.
4. Double the current direct bill for refuse from $75 to $150.
5. Direct all surplus funds projected from the 2007 budget to the fund.
The Commissioners opted to support alternative number 2, the transfer of funds from the
General Fund to the Capital Improvements Fund.
IV. Chairman's Report
There was nothing additional to add to Chairman Bennett's Commission documents.
V. Finance Director's Report
There was nothing to report.
VI. Other Business
There was no other business to corne before the Commission.
VII. Next Meeting: Thursday November 30, 2006 (Tentative)
Commissioner Pekras motioned and Commissioner Smilanic seconded to give Chairman
Bennett the authority to cancel the meeting scheduled for November 30, 2007. The
motion was unanimously approved.
Commissioner Kellerhals motioned and Commissioner Smilanic seconded to give
Chairman Bennett the authority to cancel the meeting scheduled for December 21, 2007.
The motion was unanimously approved.
There being no further business to corne before the Finance Commission, Commissioner
Smilanic motioned to adjourn which was seconded by Commissioner Grochocinski. The
motion passed and the meeting was adjourned at 10:02 p.m.
Respectively submitted,
Vincent Grochocinski
Vice Chairman, Finance Commission