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HomeMy WebLinkAbout07/19/2012 FC MinutesFINANCE COMMISSION Minutes of the Meeting July 19, 2012 1" Floor Community Center Village Hall I. Call to Order The meeting was called to order at 7:08PM. Those present included Chairman Vince Grochocinski and Commissioners Pam Bazan, Wayne Gardner, John Kellerhals, Tom Pekras and Don Ocwieja. Commissioner Ann Smilanic was absent. Also in attendance was Finance Director David Erb. II. Approval of Minutes June 28, 2012 - Minutes of the meeting were reviewed. Commissioner Pekras motioned to approve the minutes and Commissioner Kellerhals seconded the motion. The minutes were approved. III. Citizens to be Heard There were no citizens to be heard. IV. Old Business The sole purpose of this meeting was to talk about funding alternatives for several capital projects. The projects are street improvement, flood construction, Emerald Ash Borer and automated meter reading. Finance Director Dave Erb gave a presentation on the various capital project priorities and potential revenue sources that could serve as possible funding alternatives. Commission members had a lengthy discussion of priorities and goals. The Commission members agreed that the priority item is street repair and improvement. This issue affects every Mount Prospect resident with a car and any nonresident that drives through the Village. The Commissioners agreed that the current 10.7 miles of street repair backlog should not be allowed to grow. Our funding goal is to be able to repair the annual budgeted miles of street with some cushion to ensure that the backlog does not increase. This should allow the Village to avoid having to completely rebuild any streets. The Commissioners did not vote on specific proposals at this meeting. However, there is agreement among a majority of the members that the gas tax should increase by three cents a gallon, the vehicle sticker fee should increase by $14 to $50 per sticker and a portion of the home rule sales tax attributable to flooding be used for street repair. It is forecasted that this will raise enough money to at a minimum keep the backlog from growing and possibly begin to reduce the backlog. There was a lengthy discussion of funding for flood control both public and private sectors. Because of the length of the meeting and the significance of the issue the Commissioners decided to postpone a decision until the next meeting. V. Old Business (cont.) There was a discussion of funding for Emerald Ash Borer ( "EAB ") and automated meter reading ( "AMR "). The funding requirements do not appear significant at this time. Commissioner Tom Pekras made a motion and Commissioner Wayne Gardner seconded the motion that, "no specific funding source is needed at this time for EAB and AMR." VI. New Business There was not any new business. VII. Other Business There was no other business. VIII. Chairman's Report There was nothing to report. IX. Finance Director's Report There was nothing to report. X. Next Meeting: August 23, 2012 The next meeting will be Thursday, August 23, 2012, 7:00 p.m. at Village Hall, I" Floor Community Center. XI. Adjournment Commissioner John Kellerhals motioned to adjourn. Commissioner Tom Pekras seconded the motion. The meeting was adjourned at 10:45 p.m. Respectfully Submitted, Don Ocwieja PJ-