Finance Advisory Committee

MINUTES CITY OF DEKALB FINANCE ADVISORY COMMITTEE SEPTEMBER 27, 2018 The Finance Advisory Committee held a Regular meeting on September 27, 2018 at the DeKalb Police Department, 700 W. Lincoln Highway, DeKalb, Illinois. Call to Order: The meeting was called to order at 4:59 p.m. by Chair Peddle. Roll Call for Attendance: Customer Service Representative Amy Frantz called roll. Committee members present were Tom Teresinski, Steve Parker, Ron Partch, Bob Higgerson, Lynn Neeley and Chairman Mike Peddle. Staff present: Interim City Manager Molly Talkington and Customer Service Representative Amy Frantz. Other Staff present: Acting Finance Director Robert Miller, Fire Chief Eric Hicks, Police Chief Gene Lowery and Community Development Director Jo Ellen Charlton. Approval of Minutes  Minutes of the Finance Advisory Committee Meeting of August 7, 2018.  Minutes of the Finance Advisory Committee Meeting of September 12, 2018. Motion: Committee member Partch made the motion and Neeley seconded the motion. All in favor. Public Participation: Chair Peddle asked if there was anyone from the public present who wished to speak. There was none. 2018 Property Tax Levy Overview: Talkington opened with changes made to page 5 of the 2018 Property Tax Levy. Peddle mentioned the overview of the Rating outlook. Peddle opened the floor for discussion. Committee voted on recommendations. Payment in lieu of tax (Pilot), tax surplus from Tax Increment Financing Funds (TIF), portion fire services that may apply, and Water Fund admin fees cost transfer. Motion: Committee member Teresinski made the motion and Peddle seconded the motion. All in favor. Proposed Fiscal Year 2019 General Fund Budget Balancing Measures. Talkington gave break down for recommended measures. FAC agrees to participate in a survey on Finance Advisory Committee September 27, 2018 Page 2 of 2 all recommendations to discuss at next meeting, before making official recommendation to City Council. Continuation of the Five-Year Financial Plan Discussion: Committee commented on the appreciation of the realistic forecast that has been presented and that it brings a clearer picture on what is needed. Confirmation of the Next Finance Advisory Committee Meeting and Date: Wednesday, October 10, 2018. Adjournment: Chair Peddle asked for a motion to adjourn. Motion: Committee member Teresinski made the motion and Committee member Neeley seconded. Meeting adjourned at 6:34 p.m. Minutes submitted by Amy Frantz, Finance Department. Approved by the Finance Advisory Committee on October 21, 2019.