Finance Advisory Committee

MINUTES FINANCE ADVISORY COMMITTEE CITY OF DEKALB SEPTEMBER 12, 2018 A. CALL TO ORDER The Finance Advisory Committee (FAC) held a meeting on September 12, 2018, in the Police Training Room, at the Dekalb Police Department, 700 W Lincoln Highway, DeKalb, Illinois. The meeting was called to order at 4:58 p.m. by Chair Peddle. B. ROLL CALL Customer Service Representative Amy Frantz called the roll and the following FAC members were present: Tom Teresinski, Steve Parker, Ron Partch, Bob Higgerson, Lynn Neeley and Chair Mike Peddle. Also present were: Interim City Manager Molly Talkington, Customer Service Representative Amy Frantz, Acting Finance Director Robert Miller, and Technical Services Supervisor Jeremy Alexander. C. PUBLIC PARTICIPATION Chair Peddle asked if there was anyone from the public present who wished to speak. A citizen addressed the FAC, thanking them for all they’ve done for the City, and inquired about the appointment of the FAC and if it was at current capacity. They also requested assistance from the FAC with the Library Board and Tax Increment Financing (TIF). D. APPROVAL OF MINUTES There were no minutes to approve. E. 2018 PROPERTY TAX LEVY OVERVIEW Chair Peddle opened the floor to Interim City Manager Talkington to give the breakdown of the proposed Property Tax Levy for 2018. There was brief discussion regarding the line item detail on the property tax bill, which led to looking at an actual 2017 property tax bill, and base levy City of DeKalb and if there is a break-out on the tax bill for the Library. Interim City Manager Talkington discussed increases for fully funding per policy, which brought questions of the 2017 Tax Levy, which Acting Finance Director Miller provided. Finance Advisory Committee Meeting Minutes September 12, 2018 Page 2 of 2 Chair Peddle requested that the percent (%) signs be removed from the report. Member Parker questioned Equalized Assessed Valuation (EAV) growth and the rolling average. Chair Peddle asked if there were any objections before opening up discussion of Five- Year Financial Plan; there were none. F. FIVE-YEAR FINANCIAL PLAN DISCUSSION Chair Peddle opened the table for discussion and the FAC discussed contracts and changes they see are needed, for example Northern Illinois University and the Fire Department. Member Teresinski stated he wants to see property tax info from 2017 and 2018 to compare. The FAC talked about the Water Payment in Lieu of Taxes (PILOT) and Tax Increment Financing (TIF). A resident talked about the Airport operations. G. CONFIRM NEXT MEETING DATE AND TIME a. Wednesday, September 26, 2018, at 5:00 p.m. at the Police Department, 700 W. Lincoln Highway, Training Room, 2nd Floor. H. ADJOURNMENT Chair Peddle asked for a motion to adjourn. MOTION Member Neeley motioned to adjourn the meeting; seconded by Member Partch. VOTE Motion carried by a voice vote of all members present, and the meeting adjourned at 6:47 p.m. __________________________________________ AMY FRANTZ, Customer Service Representative Approved by the Finance Advisory Committee: September 27, 2018.