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HomeMy WebLinkAbout10/18/2007 FC minutes FINANCE COMMISSION MM INUTES OF THE EETING O18,2007 CTOBER CC-VH OMMUNITY ENTER ILLAGE ALL I.CO ALL TO RDER The meeting was called to order at 6:25 p.m. Those present included Chairman Charles Bennett and Commissioners Vince Grochocinski, John Kellerhals, Don Ocwieja, Tom Pekras and Ann Smilanic. Also present were Director of Finance David Erb, Deputy Director of Finance Carol Widmer and Finance Administrative Assistant Lisa Burkemper. Commissioner Wayne Gardner was absent. II. AM PPROVAL OF INUTES There was a discussion regarding the minutes of September 27, 2007. Commissioner Tom Pekras advised that there was a typographical error in the section - approval of minutes. Commissioner Tom Pekras motioned to approve the minutes of September 27, 2007 as amended. Commissioner John Kellerhals seconded the motion and the minutes were approved as amended. III.RP2008VB EVIEW OF THE ROPOSED ILLAGE UDGET Finance Department Finance Director David Erb announced that Deputy Director Carol Widmer will be retiring at the end of January, 2008. Mr. Erb thanked and recognized Ms. Widmer for all her hard work and dedication over the years she has been with the Village. Finance Director David Erb discussed objectives and accomplishments as outlined in the proposed budget. One item of note is the implementation of the e-pay program. Currently residents are able to pay water/refuse bills on line through the e-pay program. Commissioner Kellerhals asked if there was a fee to use the e-pay program. Mr. Erb stated that the fee is $2.95. Mr. Erb presented the Finance Department’s Proposed 2008 Budget totaling $1,653,000; this represents a decrease of 4.3% or $74,000. Mr. Erb added that contractual services increased because of increases in ambulance billing and fees for the flexible compensation program. Non-Departmental Director of Finance David Erb stated that the Community and Civic Services portion of the 2008 Proposed Budget totals $361,926, which is an increase of 2.6%. Debt Service Proposed 2008 Budget totals $4,664,639. This is an increase of $500,711 or 12.06%. Total Village and Library debt as of 12/31/07 will be $39,255,414, whereas the Library debt is $18,195,000 of this total. Mr. Erb added that debt as a percentage of the equalized assessed value is under 2.5% and all current debt will be paid off by 2022. r. Erb stated that Pensions total $5,409,150 which represents a 5.3% increase from 2007. Insurance – Property, Liability and Workman’s Compensation total budget is $1,182,700, this represents a decrease of 13.1%. Commissioner Ann Smilanic led a discussion related to the proposed fitness center at Village Hall. There was a brief discussion related to the layout of the center and how the development of the center is being funded. Mr. Erb provided a brief presentation on the e-pay program, including a live demonstration of how to make a payment using the newly implemented e-pay program. IV. C’R HAIRMANS EPORT Chairman Charles Bennett asked if there could be a discussion regarding the measures taken department by department to cut costs in order to balance the budget. Director of Finance David Erb advised how the departments were asked to cut their budgets based on what their percentage of the budget is. Chairman Bennett reminded the members to review the space needs study and email or send any questions or concerns to Mr. Erb ahead of time to help in preparing for the next meeting. V. FD’R INANCE IRECTORS EPORT There was nothing to report. VI. OB THER USINESS There was nothing to report. VII.NM:O25,2007 EXT EETING CTOBER Commissioner Ann Smilanic motioned to adjourn which Commissioner Tom Pekras seconded. The meeting was adjourned at 8:54 p.m. The next meeting will be October 25, 2007. Respectfully submitted, Lisa Burkemper Administrative Assistant Finance Department 2