HomeMy WebLinkAbout04/27/2010 COW minutes (workshop)FINANCIAL PLANNING WORKSHOP
MINUTES OF THE MEETING
APRIL 27 2010
VILLAGE HALL BUILDING
I.
II.
III.
CALL TO ORDER
The meeting was called to order at 6:33 p.m. by Mayor Irvana Wilks.
meeting were: Mayor Irvana Wilks and Trustees Paul Hoefert, Arlg4
Steven Polit and Michael Zadel. Finance Commission members D4
Grochocinski and Commissioners Pam Bazan, Wayne C
and Ann Smilanic. Staff members present were: Village 1
Dave Strahl, Finance Director David Erb, Deputy Finan c
Burkemper, Director of Human Services Nancy Mor X15;
Chief of Police John Dahlberg, Deputy Chief of Ad
Wagner, Sergeant Tim Griffin, Fire Chief Mike F
Marshall Brian Loomis, Director of Community Develop
Development Brian Simmons, Director of Public Works
Sean D orsey.
"
oney, Deputy Director of Community
and Deputy Director of Public Works
ROLL CALL
Mayor Irvana Wilks asked
Y t13at1 meeting aft lees,ie stal;;x name and introduce themselves.
Village Manager 1ael Janonis r r ed the meetiiiy stating how helpful it is to start out early in the new
fiscal year to get an `` of whir 1 is heaaR nancially and to be able to plan for the upcoming
budget.
Fin h e irecto 0&b e Erb sf�;��the financial portion of the meeting with an update of financial conditions
a l review of the axal Fungi
M� 1 zb reported that the d tteral Fund ended 2009 with an actual deficit of $2,341,343. The amended budget
had prtii�ected a deficit of 1; %#7,493. Actual revenues in 2009 were under budget by $819,130; expenditures
w�
were uno0r�he amended bi t by $125,380. Also part of the deficit was a planned transfer out for Phase I
4
constructionQj ects of`100. Fund balance as of 12/31/09 is 24.6 %.
The current estirriW, ddicit for 2010 is $554,430; the amended budget shows a deficit of $454,430. In
addition, revenues L 'are under budget by $100,000. Expenditures are being held at budgeted amounts.
Estimated fund balance after a planned drawdown of $900,000 for the Phase I construction projects is 19.2%
as of 12/31/10.
Mr. Erb stated sales tax figures for January 2010 came in 3.4% above the same time last year. Estimated 2010
Food and Beverage tax figures have also been adjusted up since 2009 figures came in higher than anticipated.
Mr. Erb also mentioned all vacant positions are currently being held open, departments are managing overtime
well and investment income should begin to increase slightly as the economy betters itself.
Financial Plannine Workshop
Paee 1 of 3
)ard members present at the
John Korn, John Matuszak,
were: Chairman Vince
Ocwieja, Tom Pekras
istant Village Manager
§trative Assisant Lisa
VMes Jan Abernathy,
4
ions ;mmander John
Malc8W Acting Fire
1= Michael Janorukx Pj
Erector Lynn Jarog, A6
?uty Director of Human
ion Mike..Scmkiu. Oner
John
Anr;l T7 ')nin
Village Manager Mike Janonis mentioned the Committee of the Whole meeting scheduled for July 13, 2010 is
planned to be an update and review of the April Financial Planning Workshop. Mr. Erb asked that the Board
and the Finance Commission maintain their current binders and Finance would provide the additional inserts
prior to the meeting on July 13, 2010.
IV. ADJOURNMENT
There was a motion to adjourn by Trustee Paul Hoefert and seconded ,.....,
favor the meeting was adjourned at 8:24 p.m. _ 4x: stee Steven Polit. With all in
; w g
Respectfully
Lisa
Assistant
Financial Planning Workshop PAOP Z „f'2