z - Retired - Finance Committee

draft Finance Committee Meeting Minutes - Nov 9 , 2017 Westmont Village Hall Call to Order: 4:03 pm - Trustee Barker Pledge of Allegiance Roll Call: Committee Staff Trustee Liddle (4:25) Finance Director Parker Trustee Addington(4:25) Community Development Director Ziegler (4:10) Trustee Barker Director Ramsey Trustee Nero (4:25) Assistant Director Olsson Mayor Gunter (4:10) Clerk Szymski Manager May Visitors None Minutes approved: A mo on to delay the approval the minutes from Oct 12, 2017 was made by Trustee Nero and seconded by Trustee Liddle, all ayes. UNFINISHED BUSINESS: Director Parker presented visual aids on the following topics: 2017 PROPERTY TAX LEVY TIMELINE The first step is to set the aggregate levy. We will establish the total amount to ask for tonight. Then, at the next Finance Mee ng in December, we will officially ask for the Levy. Then we will publish the informa on in paper, hold a hearing, and submit the Levy to County. The levy can be reduced, but not increased once we know the actual EAV and actual property tax rates, in March 2018. PROPERTY TAX LEVY Director Parker presented the dollar amounts proposed for the Levy, based on the 2016 Levy and depending if there is a tax freeze or not. These dollar amounts are between $8,256,636 and $$8,666,312. We expect to be at $8,362,837 if there is a tax freeze and $8,489,081 if there is not a tax freeze. The General Fund will be impacted the most with the Levy. Police Pension costs go up regardless of what the property tax amount is. If the Police Pension goes up more than the property tax amount, then we have to use money that was going to the General Fund and put it towards the Police Pension. With a tax freeze we would be cu ng the General Fund by about $126,000. If there is no freeze, we would have to cut the General Fund by about $37,000. If we get everything we Levy for we would increase the General Fund by $22,000. This topic will be revisited at the December Finance mee ng. NEW BUSINESS: None at this me. REPORTS: Chairperson is absent. Finance Director Parker Presented on the following topics: WASTE MANAGEMENT It was brought to our a en on that there is a business owner who found a waste hauler for about half the price of Waste Management. Director Parker explained to the business owner that we use only one waste hauler for various reasons. The business owner s ll wanted the Board to know that this price difference makes it hard for a small business owner. The business owner also hopes that this will make the Board reconsider requiring businesses to use Waste Management when the contract comes up for renewal. Conversa on con nued regarding contract renewal with Waste Management. The other issue with Waste Management is regarding garbage containers for townhomes. There have been many residents who have complained that the containers are too large for the garages at some of the townhome loca ons. Waste Management said they would consider providing smaller containers. We are in the process of compiling a contact list for the townhomes to provide to Waste Management. Waste Management would then reach out to the contacts of the townhomes and coordinate through them directly. TREASURER’S REPORT IN THE LOCAL PAPER There were problems ge ng the Treasurer’s Report in the local paper back in October. The newspaper only published page one of three. Then on November 8, it was published in the LaGrange local paper instead of Westmont. The next publica on is set for November 15. If this gets published November 15 then we can file with the County. PLACES FOR EATING We have been working on the 2017 Targeted Outreach for Places for Ea ng and found there are two businesses that are not in compliance. One business not yet submi ed the Places for Ea ng forms. The other business submi ed forms and our staff is calcula ng the interest because they were turned in late. We are also con nuing to work with a few businesses that are star ng to slip with their payments. ERP SOFTWARE We are currently in nego a ons with a vendor for new so ware. Approval for this contract will be addressed at the December board mee ng. And hopefully approved in December. The implementa on process can take up to two years. The consultant for this vendor informed us there are addi onal costs if we want to upgrade the so ware in some of the departments that could cost $100,000. This s ll works with our budget due to over-es ma ng the overall cost in future years. STATE REVENUE LOSS OVER 2 YEARS Over the next two year we could be losing $180,000 to $270,000 in Property Tax. We could lose $220,000 in Income Tax, mostly in FY 17-18. We could lose $60,000 in Stormwater Sales Tax. Which is a total of $460,000 to $570,000 loss in the next two years. FY 2018-19 BUDGET The Internal Budget Kickoff is on November 10th and staff will be looking at their expenditures. We are also looking to re-allocate Community Development money from an outside contractor to an internal employee. This employee would also work weekends. The next Finance mee ng is December 7, 2017. Adjourn: 4:34 pm, a mo on to adjourn was made by Trustee Nero, seconded by Trustee Liddle, all approved with all ayes.