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HomeMy WebLinkAbout04/22/2004 FC minutes FINANCE COMMISSION DRAFT MINUTES OF THE MEETING APRIL 22, 2004 VILLAGE HALL BUILDING DRAFT I. CALL TO ORDER The meeting was called to order at 7:00 p.m. Those present included Chairman John Korn and Commissioners Vince Grochocinslå, Ann HuH, Tom Pekras and Ann Smilanic. Also present were Deputy Director of Finance Carol Widmer and Finance Administrative Assistant Lisa Burkemper. Director of Finance David Erb and Commissioners Brian McPartlin and Charles Bennett were absent. II. ApPROV AL OF MINUTES Commissioner Vince Grochocinski motioned to approve the minutes of March 25, 2004. Commissioner Ann Hull seconded the motion and the minutes were accepted as presented. HI. OLD BUSINESS Completion of discussion on Revenue Alternatives Deputy Director of Finance Carol Widmer began the discussion by presenting a computer model that the Commission Members could use to plug numbers into to see the impact of increasing various revenues. The was a discussion brought up by Commissioner Ann Smilanic about the concept of balancing the budget by borrowing money to cover the deficit and paying for it when the TIF ends in 2008. The tax money made available after the TIF ends would help pay the loan back. Deputy Director of Finance Carol Widmer wanted to clarify that the Village would not capture the entire amount once the TIF ended. The Village would only get 10% ofthe total amount of tax that is freed up. Commissioner Vince Grochocinski stated it is worth discussing the concept, perhaps not actual figures but the concept in general. Chairman John Korn stated the he would rather raise home rule sales tax or raise the fees for business licenses or ambulance than borrow money. Chairman Korn stated he would like to look at increasing the ambulance fee. One benefit to the resident is that in most cases the fee is reimbursable. Also discussed by Chairman Korn was increasing the Motor Fuel Tax rate by one cent per gallon. Upon further discussion Chairman Korn changed his position on increasing the home rule sales tax and felt it would be better to take a wait and see approach. Commissioner Ann Hull stated she would like to implement an increase in the ambulance fee and earmark the increase for the Capital Improvements Plan. Commissioner Hull was also in favor of reviewing the business license fees and increasing where appropriate. Commissioner Vince Grochocinski stated that he agrees with the wait and see approach till after the mid year budget projections are available. Furthermore, Commissioner Grochocinski agrees with increasing fees for business licenses and ambulance services and the additional one-cent per gallon Motor Fuel Tax. Commissioner Tom Pekras also agreed with increasing fees for business licenses and increasing the Motor Fuel Tax by one cent per gallon. Commissioner Pekras added that he would like to increase ambulance fees to the level paid by Medicare. Commissioner Ann Smilanic stated that she was in favor of increasing the ambulance fee for non- resident only and increasing the Motor Fuel Tax by one cent per gallon. As a general consensus the following shows the dollar amount equated to the various increases discussed by the Commission: Implement Ambulance Fee Charge for Residents Increase Business License Fees by 10 % One cent per gallon addition to Motor Fuel Tax $546,000 per year $ 16,700 per year $170,000 per year Sale of 100 S. Emerson Land and Right of Way Near Golf Course $885,000 one time lump sum TOTAL $1,617,700 IV. CHAIRMAN'S REpORT Chairman John Korn highlighted the topics discussed at the board meetings that have taken place recently, v. FINANCE DIRECTOR'S REpORT There was nothing to report. VI. NEW BUSINESS The discussion on TIF extension issues/development was deferred until the meeting in May. VII. Next Meeting: May 27, 2004 Commissioner Tom Pekras motioned to adjourn which Commissioner Ann Hull seconded. The meeting was adjourned at 9: 18 p.m. The next meeting is scheduled for May 27, 2004. Respectfully submitted, Lisa Burkemper Administratíve Assistant Finance Department 2