Finance Committee

Finance Committee Meeting Council Chambers September 12, 2014 8:00 a.m. Call To Order: Meeting opened at 8:05 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: Asst Finance Director Laurie Nannini, Approval of Minutes: The minutes from the August 13, 2014 Finance Committee meeting were up for approval, motion made and all concurred. Accounts Payable Approval: The approval of the Accounts Payable registers for 8/8, 8/15, 8/22, 8/25 and 8/29 were up for approval, motion made and all concurred. New Business 2014 Tax Levy Woodriver SSA: Finance Director Neukirch presented the tax year 2014 tax levy for the Wood River special service area. Neukirch explained that this SSA was set up to finance the construction work needed for the parking lot for the condo/town home association. Motion was made and all concurred to recommend approval to the Village Board. 2014 Tax Levy Nordica SSA: Finance Director Neukirch presented the tax year 2014 tax levy for the Nordica special service area. Neukirch explained that this SSA was set up to finance the work needed for a new parking lot for the Nordica apartment complex. Motion was made and all concurred to recommend approval to the Village Board. 2014 Village Property Tax Levy: Finance Director Neukirch presented various schedules concerning the Village’s previous property tax levies. Neukirch and the Committee discussed the Village’s pension funding plan, investment returns of the Village’s pension plans, workers compensation laws in Illinois and some additional schedules they would like to see for the next meeting. The discussion at the September meeting was just informational and the 2014 levy will be an agenda item once again at the October Finance Committee meeting. The Village has to file its 2014 levy by the end of December with the County. Other Business: None Public Comment: Louella Preston asked for a status of a question that the Finance Committee had previously directed to be brought to the Ethics Committee. Finance Director Neukirch explained that the question was brought to the Ethics Committee as was directed, but the Ethics Committee decided to turn the question over to the Village Attorney for a decision. To date, no information has been received from the Village Attorney on the subject. Executive Session: None Return From Executive Session: None Adjournment: Motion to adjourn was made and all concurred at 8:50 am. Prepared by Scot Neukirch on 9/12/2014