North Cook News

Village of Northbrook Administration & Finance Committee met March 12

Here is the agenda provided by the committee:

Administration & Finance Committee Agenda 

1. ROLL CALL 

2. MINUTES APPROVAL 

3. PUBLIC COMMENT TIME 

This agenda item is reserved for members of the public who desire to address the Village Board on a topic that is within purview and jurisdiction of the Village Board, but that is not listed in another location on the agenda. If you would like to speak about a matter that is listed on the agenda, we ask that you wait until that agenda item is called, and we will give you an opportunity to speak then. If your matter is on the “Consent Agenda”, please let us know if you would like us to remove that matter so that you can speak about it. 

Anyone desiring to speak should fill out a written speaker form (located in the back of the Board Room) and submit it to the Village Clerk. “Public Comment Time” is not a forum for open dialogue or engagement with members of the Village Board. Rather, it is intended as an opportunity for you to make comments to the Village Board. While the Village Board will not immediately respond to public comments at this meeting, or engage in a back and forth discussion during the meeting, please be assured that the Board is actively listening to all comments, thoughts, and suggestions. 

All speakers will be limited to a total of three minutes. We request that everyone be respectful, civil, and non-repetitive; and we ask that members of the audience refrain from applauding or making any other comments during or after any speaker. Thank you for your understanding and taking the time to contribute to the success of our community. 

4. DISCUSSION TOPICS 

A. Presentation of FY24 Q3 (1/31/24) Financial Results, Schedule of Investments, Overtime Report Summary, and Report on Economic Indicator Data. 

An overview of the financial highlights for the third quarter of Fiscal Year 2024 followed by a presentation of various economic indicators associated with the following reports. 

i. FY24, Q3 (1/31/24) Financial Review and Presentation (Finance) 

ii. FY24, Q3 (1/31/24) Economic Indicator Review Presentation  (Development & Planning Services) 

iii. FY24, Q3 (1/31/24) Quarterly Financial Summary (Finance and Development & Planning Services) 

iv. Village Investment Schedule as of 1/31/24 

v. Police and Firefighters' Investment Schedule as of 1/31/24 

vi. Overtime Report Summary as of 1/31/24 

B. Fiscal Year 24/25 (FY25) Recommended Budget Presentation, Review, and Discussion 

Village Manager Pavlicek and CFO Drazner present the draft FY25 Recommended Budget which starts May 1, 2024 and end April 30, 2025 for review and discussion with the Village Board. Included in this agenda item is a brief PowerPoint intended to serve as a supplemental guide which will be presented to provide a high level overview of the draft budget as well as some areas that deserve focus as part of the budget discussion. 

The complete draft of the FY25 Recommended Budget is included with this agenda item. Please be aware that the FY25 budget document includes appropriations for both FY25 (May 1, 2024 - April 30, 2025) all Funds and FY26 (May 1, 2025 - April 30, 2026) for the General Fund. However, only FY25 will be presented on April 9, 2024, for legal appropriation. The numbers presented for FY26 are for informational and strategic planning purposes only. 

Finally, staff reviewed the FY25- FY29 Capital Improvement Plan at the November 28, 2023 Committee of the Whole meeting. With a couple of exceptions (due to contractor bids exceeding staff cost expectations) , the numbers previously presented for the FY25 capital projects have been incorporated in the appropriate Funds and accounts in the FY25 operating budget.

5. REMARKS FOR THE GOOD OF THE ORDER 

6. CLOSED SESSION 

7. ADJOURN 

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