Finance Committee

Finance Committee Meeting Council Chambers February 22, 2012 8:00 a.m. Attendance: Committee Members Present: Chairman Joe Lo Verde, Mayor Robert Callero, John Johann, and Finance Director Scot Neukirch Committee Members Absent: Village Manager Van Geem Non Committee Members Present: Trustee Chris Hanusiak, Trustee Louella Preston, Asst Village Manager Steve Vinezeano, Director of Community Development Chuck Ostman and Asst Finance Director Laurie Nannini. Meeting Opened: Meeting opened at 8:04 a.m. Approval of Minutes: The minutes from the January 18, 2012 were amended to include the detail of the votes taken. Motion made, all concurred. Accounts Payable Approval: The motion was made and all concurred to approve the Accounts Payable registers for 12/30/2011, 1/6/2012,1/13,1/20,1/27,1/27(106),1/31,2/3. Old Business: Mayor Callero submitted fees from the Public Works Department for water meter prices and engineering fees. These fees were not available for the January meeting when the Committee reviewed fee increases to be incorporated in to the updating of appendix D which was presented by Community Development Director Chuck Ostman. The Committee voted to recommend the Village Board consider these fee increases. Motion made, all concurred. Budget Update Finance Director Neukirch presented the Fy 2013 phase 2 draft budget document to the Committee. Finance Director Neukirch explained the budget time line, reviewed the highlights and significant items, briefly discussed the changes made during the department head meetings and reviewed the status of the Police and Fire pension funds. Questions from the Committee and audience were accepted and answered. Some Committee members said they will send further questions to staff at a later date. If it is determined that another Committee meeting is necessary it will be scheduled. Adjournment A motion to adjourn was made, seconded and all concurred. The meeting adjourned at 9:30 a.m. Next Meeting The next Finance Committee meeting is tentatively scheduled for Wednesday March 21, 2012 at 8:00 a.m. in the Council Chambers pending the members’ availability. Prepared by Scot Neukirch on 2/23/12