Finance Committee

Regular Meeting

Oak Park, IL · February 22, 2024

Minutes

123 Madison Street Village of Oak Park Oak Park, Illinois 60302 www.oak-park.us Meeting Minutes Finance Committee Thursday, February 22, 2024 6:00 PM Council Chambers (201) 1. Call To Order Village President Vicki Scaman called the Finance Committee Meeting to order at 6:09 P.M. 2. Roll Call Present: Trustee Parakkat, Trustee Robinson, Trustee Wesley, President Scaman Also Present: Trustee Enyia 3. Public Comment Judith Alexander: Urged the Finance Committee to recommend that Village government cap its annual levy of 3%. Importance of minimizing property taxes, will make housing more affordable and promote greater diversity. 4. Approval of Minutes A. MOT 24-122 Minutes from the October 26, 2023 Meeting of the Finance Committee It was moved by Trustee Robinson, seconded by Trustee Wesley to approve the Minutes. A voice vote was taken and the motion was approved. 5. New Business B. ID 24-143 Village Manager Kevin Jackson introduced the Item and Interim CFO Donna Gayden began presenting the Item. President Scaman called a recess. 6. Adjournment President Scaman adjourned the Meeting at 6:23 P.M. Village of Oak Park Page 1 Printed on 7/19/2024

Agenda

123 Madison Street Village of Oak Park Oak Park, Illinois 60302 www.oak-park.us Meeting Agenda Finance Committee Thursday, February 22, 2024 6:00 PM Council Chambers (201) A Finance Committee Meeting will start at 6:00 p.m. in Council Chambers (Room 201) The Finance Committee of the Village Board welcomes you. Public comments may be made by individuals at the beginning of the meeting, as well as when agenda items are discussed. If you wish to provide public comment, complete the "Instructions to Address the Village Board" form which is available at the back of the Chambers and present it to the Village Clerk at the Board table. When recognized, approach the podium and state your name first. If you wish to provide comment by virtual means, contact the Village Clerk's Office prior to 5:00 p.m. on the day of the meeting by calling 708-358-5670 or by email to publiccomment@oak-park.us. Your camera must remain on while speaking. Please limit your remarks to three minutes. Instructions for Non-Agenda Public Comment Non-agenda public comment is a time set aside at the beginning of a meeting for individuals to speak about an issue or concern that is not on that meeting's agenda. It is not intended for a dialogue with the Board. Non-agenda public comment is limited to 30 minutes with a limit of three minutes per person. If non-agenda public comment exceed 30 minutes, public comment will resume after the items listed under the regular agenda are complete. See instructions above on how to provide public comment. Instructions for Agenda Public Comment Comments are three minutes per person per agenda item with a maximum of three agenda items on which an individual may speak. In addition, the Village Board permits a maximum of five persons to speak on each side of any one topic which is scheduled for or has been the subject of a public hearing by a designated hearing body. These items are noted with (*). See instructions above on how to provide public comment. 1. Call To Order 2. Roll Call 3. Public Comment 4. Approval of Minutes A. MOT 24-122 Minutes from the October 26, 2023 Meeting of the Finance Committee 5. New Business Village of Oak Park Page 1 Printed on 02:46 PM February 20, 2024 Finance Committee Meeting Agenda February 22, 2024 B. ID 24-143 Overview: In 2018, the Village Board established an informal policy to cap the annual levy increase at 3%. This meeting will discuss creating a formal policy. 6. Adjournment Village of Oak Park Page 2 Printed on 02:46 PM February 20, 2024