Village of Glencoe Finance Committee met June 13.
Here is the minutes as provided by the committee:
I. Call to Order and Roll Call
The Finance Committee of the Board of Trustees meeting was called to order by Trustee
Vree at 6:05 p.m. on the 13th day of June, 2017 in the Village Hall Conference Room.
The following were present:
Jonathan Vree, Chairman
Barbara Miller, Trustee
Dale Thomas, Trustee
Also present were:
Lawrence Levin, Village President
Philip Kiraly, Village Manager
Sharon Tanner, Assistant Village Manager
Dave Clark, Finance Director
Denise Joseph, Assistant to the Finance Director
David Mau, Public Works Director
Cary Lewandowski, Public Safety Director
Megan Hoffman, Management Analyst
II. Public Comment
There were no comments from the public.
III. Consideration of Minutes
Trustee Thomas moved, seconded by Trustee Miller to approve the minutes of the May
16, 2017 Finance Committee meeting. Said motion passed with a unanimous voice vote.
IV. Review of Monthly Treasurer’s Report
1. May 2017 Treasurer’s Report & Glencoe Golf Club Monthly Financial Report
Director Clark began the discussion of the May Treasurer’s Report by addressing
questions from the May Finance Committee meeting regarding property tax collections.
He reported that the lag in property tax collection observed from the April Treasurer’s
Report was made up for, and that collection amounts for the current fiscal year are now
greater than the five-year year-to-date average and prior-year-to-date amount. He noted
that State income tax collections, monthly and year-to-date, are lagging but that the lag
appears to be temporary. Director Clark added that staff will continue to monitor all tax
collections, staying mindful of the potential impact of any State of Illinois action on the
Village’s budget.
V. Review of Fiscal Year 2018 Community Improvement Program Schedule
2. Community Improvement Program Schedule Update June 2017
Manager Kiraly presented an updated Fiscal Year 2018 Community Improvement
Program (CIP) schedule for June, noting that multiple projects would be coming to the
Board at that evening’s Board meeting including contracts for the ambulance
replacement, street resurfacing, Tudor Court engineering and design, water main
replacements and a stump grinder. He explained that new this month, Village staff
added a column to the CIP schedule showing the contract award amount, as compared
to the approved expenditure from the Fiscal Year 2018 Budget. He noted that for projects
coming to the Board for consideration at the upcoming Board meeting, the new column
reflects the contract or purchase award amount that is pending approval. As projects are
completed, a new column will be added to show actual cost.
VI. Discussion of Monthly Report Format
Trustee Vree opened discussion of how to improve the monthly report format, noting
that the overall data included is good but that changes should be made to make it both
easier to read and interpret. He stated that the first page of the report should be a quick
reference or summary with bullet points and that the second section should follow with
more detail. He asked that more detailed explanations be provided to help explain
variances, he would also like the Finance Department to determine what a good
threshold is for a variance to be deemed significant and then to flag these moving
forward.
Trustee Vree then went on to discuss page 9, the General Fund Combined Statement,
noting that this section of the report is especially difficult to read and that he would like
to see the names of categories and headers match categories from the Variance Report.
To help clean up the report, he asked that the page orientation be changed to landscape
and to have the Fiscal Year Year-to-Date column listed first. Additionally, Trustee Vree
asked for a detailed report for the Revenue/Expense (RevEx) summaries.
VII. Other Items for Discussion
The Finance Committee discussed the idea that the Village ramp up outreach in August
to remind residents to purchase their quarterly commuter parking permits prior to the
renewal deadline.
VIII. Adjourn
Trustee Thomas moved, seconded by Trustee Miller to adjourn the meeting at 7 p.m.
Said motion passed with a unanimous voice vote.
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