Finance Committee

Finance Committee Meeting Council Chambers August 13, 2014 8:00 a.m. Call To Order: Meeting opened at 8:02 am Roll Call: Finance Director Neukirch called the roll for Committee members. Committee Members Present: Chairman LoVerde, John Johann, Al Weel, Robert Callero, Village Manager Steve Vinezeano and Finance Director Scot Neukirch Committee Members Absent: None Non Committee Members Present: Village Attorney Joe Annunzio, Asst Finance Director Laurie Nannini, Community Development Director Chuck Ostman and Economic Development Coordinator Ross Klicker Approval of Minutes: The minutes from the June 27, 2014 Finance Committee meeting were up for approval, motion made and all concurred. The minutes from the July 25, 2014 Finance Committee meeting were up for approval, motion made and all concurred. Accounts Payable Approval: The approval of the Accounts Payable registers for 6/27, 7/3, 7/11, 7/18, 7/25 and 8/1 were up for approval, motion made and all concurred. New Business 6B Application Public Hearing Economic Development Coordinator Klicker presented the 6B request for 5600 5600 Jarvis: Jarvis. Klicker explained that staff has reviewed the application submitted by Seefried Industrial Properties and has concluded that the request has merit. The property will likely be leased to two existing businesses in Niles, but these leases are contingent on the 6B approval. All prospective tenants would bring a substantial number of employees to the Village. Seefried has estimated their investment in to the property will exceed $13.5 million. Without this investment, staff believes it will be difficult to find tenants for this location. Seefried has indicated they will not move forward with the rehabilitation without the 6B incentive. The Committee asked questions of the Seefried representatives. Seefried indicated that the existing water tower will be de-commissioned. Motion made to recommend Village Board approval of the 6B incentive and all concurred. Quarterly Leak Adjustment Update: Assistant Finance Director Nannini presented the history of water leak adjustments since inception. Finance Director Neukirch further explained that the procedures for this process which were developed through the Finance Committee have been working very well. Neukirch explained that the procedure has formalized a process that previously did not have any specific criteria. Village Manager Vinezeano stressed that the various departments have been working very well on this program. Chairman LoVerde requested a report be provided to the Village Board showing the success of this and the other programs related to assisting residents with delinquent water bills. Quarterly Ill Debt Recovery Update: Assistant Finance Director Nannini presented the status of the Village’s submissions to the Illinois Debt Recovery Program of delinquent fees/fines due the Village. To date the State has received $430,746.86 in delinquent fees/fines from the Village that are waiting to be matched against eligible reimbursements from the State to the respective individuals. $109,811.69 has been withheld from eligible reimbursements from the State. $104,581.06 has actually been received by the Village. Finance Director Neukirch explained that this has been a very successful program which has facilitated the collections of these outstanding fines. Neukirch stressed the importance of the Village IT Department and the work that they have done in keeping this process moving. Quarterly Shut Off Program Update: Assistant Finance Director Nannini presented schedules showing the status of delinquent water accounts that have gone through the Village’s shut off process that was developed through the Finance Committee. To date the Village has collected over $69,000 from these accounts. Finance Director Neukirch explained that this is another very successful program that was developed through the Finance Committee. Many of these properties have been delinquent for many years and this program is showing results in resolving the delinquent account balances and providing assistance in other areas as needed to the residents involved through this multi-departmental program. Review of 2013 PACE Audit Report: Finance Director Neukirch presented the results of the 2013 PACE audit report. Neukirch explained that the auditors determined that the Village has presented the financial information fairly in all material respects. Neukirch explained the calculation of the actual cost to the Village for the operations of the Courtesy Bus System. The 2013 cost to the Village was $517,555. Neukirch also explained that the auditors discovered a reporting error in the Village’s fuel reports. The reporting system for the fuel duplicated the gallons used for several days. Therefore the Village was required to reimburse PACE $2,820.29. Public Confirmation July Broker Village Manager Vinezeano provided the results from the sealed vote that Services Vote: was taken at the July Finance Committee meeting for the Village’s broker services. Mesirow received 2 of the 3 sealed votes for the recommendation to the Village Board for the Village’s workers compensation and liability insurance broker services. Only 3 votes were cast because Chairman LoVerde and Bob Callero were not present at that meeting. A motion was made and all concurred to recommend Mesirow Broker services to the Village Board of Trustees. Other Business: None Public Comment: None Executive Session: The Committee moved in to executive session at 8:34 am to discuss approval and release of executive session minutes. Return From Executive Session: The Committee returned from executive session at 8:44 am Approval of Executive Session Motion made and all concurred to release the executive session minutes from Minutes: 10/21/09, 11/18/09, 8/21/13, 9/11/13, 11/13/13, 12/18/13, 1/15/14 Motion made and all concurred to destroy the related audio from 10/21/09, 11/18/09, 8/21/13, 9/11/13, 11/13/13, 12/18/13, 1/15/14 for the released executive minutes once the recordings were 18 months old Motion made and all concurred not to release the executive session minutes from 2/18/10, 11/14/12 and 7/17/13. Adjournment: Motion to adjourn was made and all concurred at 8:46 am. Prepared by Scot Neukirch on 8/19/2014