Finance & Administration Committee

Village of Lombard Village Hall 255 East Wilson Ave. Lombard, IL 60148 villageoflombard.org Meeting Minutes Monday, February 24, 2020 6:00 PM Village Manager's Conference Room Finance & Administration Committee Trustee Reid Foltyniewicz, Chairperson Dan Militello, Alternate Chairperson Mary Cation, Jim Hogan, Jay Tovian, David Cain, Jr., Dan Hartweg, Randy King, Ambareen Ahmed, Michael Himmes Staff Liaison: Timothy Sexton Finance & Administration Meeting Minutes February 24, 2020 Committee 1.0 Call to Order and Pledge of Allegiance 2.0 Roll Call Present 8 - Reid Foltyniewicz, Dan Militello, Mary Cation, James W. Hogan, Dan Hartweg, Jay Tovian, Randy King, and Michael Himmes Absent 2 - David Cain Jr., and Ambareen Ahmed Staff Present: Tim Sexton, Jamie Cunningham Others Present: Michael Johnson (resident) 3.0 Public Participation None 4.0 Approval of Minutes It was moved by Hogan, seconded by Cation, to approve the minutes. The motion carried unanimously by the following voice vote: Aye: 7- Dan Militello, Mary Cation, James W. Hogan, Dan Hartweg, Jay Tovian, Randy King, and Michael Himmes Absent: 2- David Cain Jr., and Ambareen Ahmed 5.0 New Business 200088 Discussion on the 2021 Budget and Future Revenue Options Tim Sexton reviewed the 2021 Budget Department Kickoff slides with the Committee and a memo that provided future revenue options for the Village. The Committee discussed Home Rule vs. Non-Home Rule revenues, Village Vehicle Stickers, and a referendum for a one-time property tax increase. Video Gaming and Adult Use Cannabis would be considered new revenue but will likely offset lost sales tax. 200089 Discussion on the Police and Fire Pension Funds "Consolidation" Tim Sexton discussed the Police and Fire Pension Fund “Consolidation” and provided an article published in the Daily Herald, Why administrative costs add millions to public safety pensions by Jake Griffin. Village of Lombard Page 1 Finance & Administration Meeting Minutes February 24, 2020 Committee 6.0 Other Business 7.0 Review of Financial Information The Preliminary December Financial Report was provided to the Committee. 8.0 Future Meeting Dates March 23rd meeting cancelled, next meeting on April 27th. 9.0 Adjournment It was moved by Jay Tovian, seconded by Mary Cation, to adjourn the meeting at 7:06 p.m. The motion carried unanimously by the following voice vote: Aye: 7- Dan Militello, Mary Cation, James W. Hogan, Dan Hartweg, Jay Tovian, Randy King, and Michael Himmes Absent: 2- David Cain Jr., and Ambareen Ahmed Village of Lombard Page 2