Finance Committee

Minutes Village of Niles Finance Committee Meeting Council Chambers Conference Room 114 December 5, 2018 9:00 a.m. Call To Order Chairman Dean Strzelecki called the meeting to order at 9:00 a.m. Roll Call Assistant Finance Director Laurie Nannini called the roll for Committee members: Committee Members Present: Chairman Dean Strzelecki, Patricia Dlubala, George Van Geem Committee Members Absent: Jack Drexler, Joseph Ori Village Staff Present: Finance Director Jeff Martynowicz, Assistant Finance Director Laurie Nannini, Village Manager Steve Vinezeano, Deputy Village Manager Hadley Skeffington-Vos, Assistant to the Village Manager Kathy Thake, Administrative Assistant Joy Athanasiou Old Business None Approval of Minutes The regular minutes from the November 14, 2018 Finance Committee meeting were presented for approval, motion was made and all concurred. Accounts Payable Approval The Accounts Payable registers for 2018-11/9, 11/16 were presented for approval, motion was made and all concurred. New Business FY 2018 Comprehensive Annual Financial Report and Audit Finance Director Jeff Martynowicz introduced Ed Tracy from Selden Fox who gave a small presentation of the FY 2018 Comprehensive Financial Annual Report. Ed highlighted the year end activity in the various funds. He stated General Fund revenue increased 4.5% and expenses increased 4.1% over the prior year. He said our fund balance is in a good position. Steve Vinezeano mentioned his concerns with having a strong fund balance. Jeff Martynowicz pointed out the budgetary stewardship of the departments stating each department has made a real effort to stay under budget the past few years. Steve mentioned there will be movement in the Water Fund over the next two years due to the water project. George Van Geem asked a few questions regarding the Niles Free Bus System and requested a breakdown schedule of costs. Jeff said it will be added to programs in the Automotive Fund. Steve mentioned there is anticipated increase in ridership on the Niles Free Bus once the new Pulse Bus System begins running this spring/summer. Ed Tracy answered questions and thanked staff for their help with the audit. Discussion on Revenue Options Chairman Dean Strzelecki opened discussion on future revenue options. He would like the Village to be ahead of the game on the taxation of the new Governors initiatives. Chairman Strzelecki would like the committee to agree to bring this topic to the Board and Legal Department. Other revenue options mentioned included raising Local Gas Tax, raising Handicap fine charge to $300, charging for garbage, and raising Food and Beverage Tax to 1.5%.  December 5, 2018 Finance Committee Other Business George Van Geem thanked Patricia Dlubala for her service on the Finance Committee. Public Comments None Executive Session None Adjournment Motion to adjourn was made at 10:15 am and all concurred. Prepared by Joy Athanasiou on January 9, 2019. 2