HomeMy WebLinkAbout08/12/2003 COW agenda COMMITTEE OF THE WHOLE AGENDA
Meeting Location: Meeting Date and Time:
Mt. Prospect Park District Community Center Tuesday, August 12, 2003
1000 West Central Road 7:00 p.m.
CALL TO ORDER - ROLL CALL
Mayor Gerald L. Farley
Trustee Timothy Corcoran Trustee Michaele Skowron
Trustee Paul Hoefert Trustee Irvana Wilks
Trustee Richard Lohrstorfer Trustee Michael Zadel
II.
ACCEPTANCE OF MINUTES OF COMMITTEE OF THE WHOLE MEETING OF
JULY 8, 2003
III. CITIZENS TO BE HEARD
IV.
2003 MID-YEAR BUDGET REVIEW/2004 PRE-BUDGET WORKSHOP
For the past several years, the Village Board has engaged in a mid~year review of the current
year Budget as a means of monitoring the revenue expenditure levels contained therein.
Concomitantly, the Village Board also engages in a Pre-Budget Workshop, specifically
designed to look forward toward the upcoming Budget year with the idea of setting fiscal
parameters and giving staff direction for preparation of next year's Budget.
With the close of June financial activity, staff is in the position to present mid-year financial data
as well as review the 2004 Forecast Budget. Not surprisingly, the continuing down economy
has had adverse impacts on Village revenue streams. Unless the economic climate changes
dramatically in the last half of 2003, we can expect to end the year with a draw down in General
Fund fund balance of some $1.4 million ($604,000 more than originally anticipated). Given
current revenue trends, the 2004 Forecast Budget as it now stands, shows a General Fund
deficit of approximately $840,000. This projected deficit exists despite the recently adopted
Long-Range Financial Plan. For both 2003 and forecast 2004, the growth in the projected
deficits continues to be a direct rasult of declining revenues.
For both 2003 and forecast 2004, the deficits will need to be addressed by substantial
expenditure reductions, the draw down of fund balance or the identification of new or additional
revenue sources. Preparation of the 2004 Budget will be especially difficult in the coming
months. Finance Director David Erb has provided a comprehensive memorandum detailing the
Village's financial condition for both the balance of 2003 and forecast 2004.
Staff will share its current Budget preparation strategy and look to the Village Board for
direction regarding expenditure reductions and/or revenue additions. Appropriate staff will
be on hand to answer questions and facilitate discussion.
NOTE:
ANY INDIVIDUAL WHO WOULD LIKE TO ATTEND THIS MEETING BUT BECAUSE OF A
DISABILITY NEEDS SOME ACCOMMODATION TO PARTICIPATE, SHOULD CONTACT THE
VILLAGE MANAGER'S OFFICE A T t00 SOUTH EMERSON, MOUNT PROSPECT, ILLINOIS 60056,
847/392-6000, EXTENSION 5327, TDD #847/392-6064.
V. BRANDING -VILLAGE LOGO/VVEB SITE REDESIGN
In 1999, the Community Development Department embarked on a corridor design project.
One Of the products of that effort Was a logo, commonly referred to as "the keystone." This
symbol was to be used in the corridor design projects throughout the Village - on wall
installments, signs, banners, etc. Over the past few years, some Village departments have
incorporated this design into their clothing and vehicle graphics.
In an effort to coordinate and control use of the keystone symbol and other Village symbols,
we are seeking direction from the Village Board on the overlying "branding" issue. It has
been suggested a number of times that the Village undertake a "branding" effort. Branding
can be used to convey a desired image to business and the public through use of Iogos and
graphics that reflect a unified theme or message. Under this theory, Village materials would
have a consistent look- from the newsletter to the web site, publications, vehicles, uniforms,
street signs, etc.
In addition, submitted for consideration is a revised version of the keystone logo for use in
the Village newsletter and redesigned web site. Also for the Board's consideration, are two
sample versions of a home page redesign for the Village's web site.
Appropriate staff will be on hand to answer questions and facilitate discussion.
VI. VILLAGE MANAGER'S REPORT
VII. ANY OTHER BUSINESS
VIII. ADJOURNMENT