Finance Committee

Minutes Village of Niles Finance Committee Meeting Remote Participation, Zoom February 19, 2021 10:00am Call To Order George Van Geem called the meeting to order at 10:02am. A motion was made by Jack Drexler, seconded by Alan Weel, to nominate George Van Geem to serve as Acting Chair in the absence of Chairman George Alpogianis. On voice vote, all concurred. Roll Call Finance Director Kent Oliven called the roll for Committee Members: Committee Members Present: George Van Geem, Jack Drexler, and Alan Weel Committee Members Absent: Chairman George Alpogianis and Joseph Ori Others Present: Acting Village Manager Hadley Skeffington-Vos, Assistant to the Village Manager Kathy Thake, Finance Director Kent Oliven, Director of Economic Development John Melaniphy, Budget Analyst Conor Schultz, and Administrative Assistant Joy Athanasiou Old Business None Approval of Minutes The regular minutes from the January 14, 2021 Finance Committee meeting were presented for approval. A motion was made by Al Weel, seconded by Jack Drexler, to approve the minutes. On voice vote, all concurred. Accounts Payable Approval The Accounts Payable registers for 2021- 1/15, 1/22, 1/29, 2/5, and 2/12 were presented for approval. A motion was made by Jack Drexler, seconded by Al Weel, to approve the Accounts Payable registers. On voice vote, all concurred. New Business BCBS Draft Renewal Finance Director Kent Oliven and Hub Internationals Brian Grossman gave a summary of the Blue Cross Blue Shield renewal plan. He stated there will be no budget changes to the Self-funded PPO and Dental plans. There will be a slight budget increase of 0.5% for the Fully Insured HMO plan, with no employee contribution changes to any of the plans. The plan year will be eight months from May 1, 2021 through December 31, 2021. Mr. Oliven said the Village will introduce a high deductible health plan (HDHP) option beginning January 1, 2022. This plan meets certain federal rules to allow for a health savings account (HSA). An HSA allows employees to shop for services and take control of their own health, leading to better long-term health and lower costs. He also stated there will be no change in rates to the Employer-paid Basic Life and AD&D renewal. RxBenefits Draft Language Review Mr. Oliven presented an enhancement to our pharmacy benefit manager through RxBenefits. This would replace going directly through ExpressScripts for prescription drug needs. He stated several benefits to this change including improved customer service, personalized prescription management programming and reduced Village and member costs over time. This new plan will run on a calendar year beginning January 2022 instead of fiscal year, as it currently runs. This upcoming renewal will be for a shortened period from May 1, 2021 through December 31, 2021. Staff is waiting to receive a revised contract from RxBenefits for 5/1/21 effective date. Health Insurance Summary Finance Director Kent Oliven and Brian Grossman from HUB International gave a financial update summary of the Medical/Rx renewal programs. Mr. Grossman reviewed our past, current and projected numbers and said we are right with trend and have a favorable renewal. After questions and discussion, the Committee agreed to all staff recommendations. A motion was made to concur with the Village Benefits Consultant and Village Staff to renew the contract for Blue Cross Blue Shield. Moved by Jack Drexler, seconded by Al Weel. On voice vote, all concurred. A motion was made to concur with the Village Benefits Consultant and Village Staff to approve, in concept, a contract with RxBenefit for the upcoming shortened plan period of May 1, 2021 through December 31, 2021. Moved by Jack Drexler, seconded by Al Weel. On voice note, all concurred. Other Business FY22 Budget Hearings Finance Director Kent Oliven said the FY22 Budget Hearings will begin March 15th. Mr. Oliven requested to schedule a budget meeting with the Finance Committee prior to the Budget hearings. Finance Department Update Finance Director Kent Oliven gave an overview of happenings in the Finance Department. He stated the FY20 audit was received back from the auditor and is being reviewed. The Finance Department will begin using our new Utility Billing software with the next billing cycle. He stated that residents will be able to pay online with no additional fee. Mr. Oliven also stated that there is a new drive-up drop box for payments outside of Village Hall. Lastly, Mr. Oliven said that staff is trying to come up with new revenue ideas and are currently comparing services with other municipalities. Public Comments None Executive Session None Adjournment A motion to adjourn was made at 11:09 by Jack Drexler, seconded by Al Weel. On voice vote, all concurred. Prepared by Joy Athanasiou on April 14, 2021