HomeMy WebLinkAbout01/28/2020 FC MinutesFINANCE COMMISSION MEETING
MINUTES
Thursday, January 28, 2021
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Call to Order
Meeting called to order at 7:00 p.m.
Commission members present: Pam Bazan, Yulia Bjekic, Trisha Chokshi, Don Ocwieja
and Tom Pekras.
Staff present: Director of Finance Amit Thakkar, Assistant Village Manager Nellie Beckner,
Assistant to the Director of Finance Jennifer Fitzgerald and Assistant to the Village
Manager Alexander Bertolucci.
Approval of Minutes
a. Commissioner Pekras, seconded by Commissioner Bjekic moved to approve the
minutes of the Finance Commission regular meeting of October 22, 2020.
Chair Chokshi called a voice vote.
Motion Passed unanimously.
Citizens to be Heard
None.
IV. Old Business
None.
V. New Business
a) Selection of Vice -Chair
Motion by Commissioner Bjekic, second by Commissioner Pekras to nominate
Commissioner Bazan as Vice -Chair. Chair Chokshi called a voice vote.
Motion Passed unanimously.
b) Selection of Secretary
Motion by Commissioner Pekras, second by Commissioner Bazan to nominate
Commissioner Bjekic as Secretary. Chair Chokshi called a voice vote.
Motion Passed unanimously.
c) Discussion on 2021 Work Plan
Mr. Thakkar presented the preliminary 2020 Work Plan and facilitated discussion on
the work plan with Commission members.
Chair Chokshi stated she asked for Community & Economic Development - Business
Incentive Review and Integrating Electric and Hybrid Vehicles in the Village Fleet —
PW agenda items for 2021.
Mr. Thakkar stated the work plan is an outline of what we want to achieve, but we
may add items to meeting agendas as issues or discussions come up throughout the
year.
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VI. Any Other Business
None.
VII. Chairman's Report
None.
VIII. Finance Director's Report
a) Financial Updates
Mr. Thakkar reviewed the Monthly Financial Report for December 2020.
Staff provided the following in response to questions from the Finance Commission:
• Fire pension funded at 64% and Police pension funded at 63% based on
the most recent available report from December 2019. The target is to be
100% funded by 2040.
• Village sold about 2,000 fewer vehicle stickers last year, which is about
$110,000 revenue.
XI. Next Meeting:
Thursday, February 25, 2021, 7 p.m.
IX. Adjournment:
Motion by Commissioner Pekras, seconded by Commissioner Bjekic, to adjourn the
meeting.
Chair Chokshi called a voice vote.
Motion Carried unanimously.
The meeting adjourned at 7:33 pm.
Alexander Bertolucci
Assistant to the Village Manager
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