Village of South Barrington Finance Committee met April 11.
Here are the minutes provided by the committee:
CALL TO ORDER Committee Chairman Stagno called the meeting to order at 2:04 p.m.
ROLL CALL Members Present: Chairman Stagno, Trustee Joe Abbate and Trustee Bernard Kerman. Members Absent: None. Others present: Mayor Paula McCombie, Trustee Guranovich, Treasurer Michelle Bodie and Administrator Robert Palmer.
PUBLIC COMMENT
No public present for comment.
APPROVAL OF MINUTES
Trustee Kerman made a motion to approve the Finance Committee Minutes of February 7, 2022. Trustee Abbate seconded the motion. By unanimous voice vote, the Motion passed.
AGENDA ITEMS
1. General Insurance Proposal for Fiscal Year 2023 from Arthur Gallagher Treasurer Bodie opened the discussion by noting the renewal had increased approximately 11%. One item that had shown a sizeable increase was in the area of cyber-security insurance. Possible savings could be gained from increasing the deductible amount. Vehicle equipment insurance deductible is $1,000. Chairman Stagno had questions regarding the policy endorsements and the notices to policy holders. Chairman Stagno identified specific areas on earthquake coverage and the cyber-security items. Bodie noted the expiration date of April 30th on the policy and suggested a more in-depth workshop for review. Trustee Abbate noted that what the committee was reviewing was the proposal and not the actual policy. Bodie reiterated that the policy would be received after May 1st and a workshop could be scheduled at that time with the broker to further review. The policy could then be cancelled mid-term if necessary if the review uncovered unacceptable items. Chairman Stagno questioned liquor liability coverage and whether the amount was sufficient. Bodie suggested collecting these items and forwarding to Gallagher to answer and then move forward with a workshop.
Trustee Abbate made a motion to approve and forward the General Insurance Proposal for 2023 from Arthur Gallagher to the full Village Board for consideration, and to set up a July meeting workshop. Second was made by Trustee Kerman and a voice vote the motion was approved unanimously.
2. Salary/Wage Range for Fiscal Year 2023 and Adjustments for Fiscal Year 2022 Bodie presented and reviewed with the committee several spreadsheets that she prepared from a salary survey that she had conducted. It was noted that this year the CPI has seen a dramatic rise and in some cases the village has fallen behind comparable communities for specific job classifications. The goal for the village has been to be in the fifty percentile. Chairman Stagno asked about the actual dollar value of some of the percentage increases proposed. Trustee Kerman commented on the movement of municipal employees and if the village or surrounding villages were seeing much of this activity. Mayor McCombie expressed that the village wants to maintain a fair and competitive pay scale for employees and with inflation on the rise there is this additional challenge. The village continues to be faced with additional workload in areas like the Conservancy and tree care to mention a couple. Chairman Stagno commented on the size of the current workforce and the ability to cover the existing workload. Mayor McCombie noted that some additional members of the workforce are being planned, along with some restructuring. The village has recently experienced a retirement in the police department from a Sergeant who is moving out of state and the Deputy Chief position is in the process of being filled. Bodie recommended approving the Salary Range Adjustments. Motion was made by Abbate to approve the Salary/Wage Range for Fiscal Year 2023 and Adjustments for Fiscal Year 2022 and to forward to the full Village Board for consideration. Motion was seconded by Kerman and on a voice vote the motion was approved unanimously.
3. Merit Bonus for certain employees for Fiscal Year 2023 Mayor McCombie recommended the proposal for merit bonuses for Fiscal Year 2023. Motion was made by Kerman to approve a Merit Bonus for certain employees for Fiscal Year 2023 and forward the proposal to the full Village Board. Second was made by Abbate and on a voice vote the motion was approved unanimously.
4. Salary/Wage Increases for Fiscal Year 2023 Bodie reported on comparable union contracts and CPI adjustments. The committee briefly discussed the impact on the budget, union contract negotiations and different job classifications. Motion was made by Kerman to approve and forward to the full Village Board the proposed Salary/Wage Increases for Fiscal Year 2023. Second was made by Abbate and on a voice vote the motion was approved unanimously.
5. Preliminary Notice of IMRF Contribution Rate for 2023 Bodie reported that the contribution rate had decreased. No action necessary.
6. Review of Fiscal Year 2022/2023 Budget (to be presented at April Board meeting and held for approval at May Board meeting) Bodie noted some items that would be increasing in the proposed budget, for example an increase in the line-item for tree trimming. Bodie also explained that this is a “first look” at the budget and approval would be considered in May. Motion was made by Kerman to accept the Review of Fiscal Year 2022/2023 Budget (to be presented at April Board meeting and held for approval at May Board meeting) and forward to the Village Board for consideration. Second was made by Abbate and on a voice vote the motion was approved unanimously.
7. Discussion of ARPA fund allocation Bodie noted that the Village is receiving $338,000 in ARPA funds and this will be noted as deferred revenue. Bodie also explained the rules surrounding these funds and how they can be used. No further action required.
8. Discussion of General Fund Cash Reserve Bodie reviewed the General Fund Cash Reserves and outlined a recommendation for a contribution to the Police Pension Fund. Trustee Guranovich asked about the funding percentage of the fund. Bodie explained that the fund is close to being 80% funded which is high compared to other communities. Motion was made by Abbate to approve the proposed contribution to the Police Pension Fund and forward to the full Village Board to consider a resolution to execute the same. Second was made by Kerman and on a voice vote the motion was approved unanimously,
MAYOR'S REPORT
Mayor McCombie gave an update on development proposals from Hillwood, Sundance and a proposal from JLL regarding the BMO bank property that the village owns.
STAFF REPORTS
1. Village Administrator Palmer reported on a proposal for a clinic in the Executive Office Center, a proposal from JLL in regard to property for sale near the AMC theatre, Magnolia Pointe pothole repairs and repairs to the elevator. 2. Finance Director Bodie had no additional items to report on.
OLD BUSINESS
None.
NEW BUSINESS
None.
ADJOURNMENT
Motion was made by Kerman and seconded by Abbate to adjourn the meeting at 4:20 PM. On a voice vote, the motion was approved unanimously and the committee stood adjourned.
https://docs.google.com/document/d/1Qq519sa2VXCKjFfMV1Xqr83JOg-XMxv8H0t_7md9yIQ/edit
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