Finance Committee Meeting 8:00 a.m. in the Village Hall Present: PAUL ELSEN – VIVIAN GAINES – KRIS KIEPER Guests: Sally Bennett The meeting was called to order at 8:05 a.m. Approve Previous Meeting Minutes – A motion was made by MRS. GAINES to accept the August 1, 2016 minutes, seconded by MS. KIEPER – approved. Disclosure of any Conflict of Interest – None. Public Comment – There was no public comment. RRWRD IGA – No update. Budget 2016 Annual Taxpayer Location Address List – Mrs. Bennett will contact the Illinois Department of Revenue to follow up on one property. Utility Tax – The revenue continues to exceed the budgeted projections. Verizon Income – The water tower is currently being painted, Verizon will be building a “house” for their equipment. No rent will be collected until then. Budget 2017 Employee Evaluations – A motion was made by MS. KIEPER for the department heads to have employee evaluations done by 10/15/16, to determine merit-based raises for the 2017 fiscal year, seconded by MRS. GAINES. The Finance Committee will determine the increase percentages based on the numbering system in the evaluation process. The Committee discussed salary caps for future budgetary controls. Levy – The committee will recommend a tax freeze for property taxes in 2017. Debt Reduction – The committee will continue to monitor reserves to determine if the Village can afford to pay a higher payment on the IEPA loan for the new water tower in 2017. Update – The departments have their budget worksheets. O & M 6 Year Plan – Not discussed. Reserves – Not discussed. Rewrite Water/Capital Ordinance – Not discussed. Aging/Write-Off Review – IDROP – The monthly aging report for delinquent water accounts was reviewed by the Committee. There are several “hits” at the State level to receive the money through garnished state tax payments.
Finance Committee Meeting 8:00 a.m. in the Village Hall Present: PAUL ELSEN – VIVIAN GAINES – KRIS KIEPER Guests: Sally Bennett The meeting was called to order at 8:05 a.m. Approve Previous Meeting Minutes – A motion was made by MRS. GAINES to accept the August 1, 2016 minutes, seconded by MS. KIEPER – approved. Disclosure of any Conflict of Interest – None. Public Comment – There was no public comment. RRWRD IGA – No update. Budget 2016 Annual Taxpayer Location Address List – Mrs. Bennett will contact the Illinois Department of Revenue to follow up on one property. Utility Tax – The revenue continues to exceed the budgeted projections. Verizon Income – The water tower is currently being painted, Verizon will be building a “house” for their equipment. No rent will be collected until then. Budget 2017 Employee Evaluations – A motion was made by MS. KIEPER for the department heads to have employee evaluations done by 10/15/16, to determine merit-based raises for the 2017 fiscal year, seconded by MRS. GAINES. The Finance Committee will determine the increase percentages based on the numbering system in the evaluation process. The Committee discussed salary caps for future budgetary controls. Levy – The committee will recommend a tax freeze for property taxes in 2017. Debt Reduction – The committee will continue to monitor reserves to determine if the Village can afford to pay a higher payment on the IEPA loan for the new water tower in 2017. Update – The departments have their budget worksheets. O & M 6 Year Plan – Not discussed. Reserves – Not discussed. Rewrite Water/Capital Ordinance – Not discussed. Aging/Write-Off Review – IDROP – The monthly aging report for delinquent water accounts was reviewed by the Committee. There are several “hits” at the State level to receive the money through garnished state tax payments.
Finance%20Comm%20Septembert%2012%20,%202016.docx