Financial Advisory Board

Regular Meeting

Naperville, IL · November 15, 2018

Minutes

City of Naperville 400 S. Eagle Street Naperville, IL 60540 Meeting Minutes Thursday, November 15, 2018 6:00 PM Special Meeting Finance Conf. Room 133 Financial Advisory Board Financial Advisory Board Meeting Minutes November 15, 2018 A. CALL TO ORDER: B. ROLL CALL: Present: Chairman Wik; Member Gannon; Member Millington; Member Wade; John Krummen - Council Ex-Officio Also Present: Franco Bottalico, Budget Analyst C. PUBLIC FORUM: D. REPORTS: E. NEW BUSINESS: F. OLD BUSINESS: Reserve Policy Working Group Discussion The FAB discussed the City's reserve policies and reviewed the City's financial status. Debt Policy Working Group Discussion The FAB reviewed and discussed the language of financial principles and reserve policies from Kelowna, B.C. (Canada), and reviewed the City's current debt policy. G. ADJOURNMENT: City of Naperville Page 1 Printed on 4/11/2019

Agenda

City of Naperville 400 S. Eagle Street Naperville, IL 60540 Meeting Agenda Thursday, November 15, 2018 6:00 PM Special Meeting Finance Conf. Room 133 Financial Advisory Board Financial Advisory Board Meeting Agenda November 15, 2018 A. CALL TO ORDER: B. ROLL CALL: C. PUBLIC FORUM: D. REPORTS: E. NEW BUSINESS: F. OLD BUSINESS: 18-978 Reserve Policy Working Group Discussion Attachments: Naperville - General fund reserve policy Naperville - Electric and Water-Wastewater 30-day working capital reserve 7.30.2018 FAB Meeting Memo 18-979 Debt Policy Working Group Discussion Attachments: 8.20.2018 FAB Special Meeting Memo Attachment - Current AAA Communities Northbrook reserve and debt policy (from their budget) Buffalo Grove reserve and debt policy (from their budget) Vernon Hills reserve policy Attachment - AAA vs. AA+ Pricing Comparison 8.15.18 G. ADJOURNMENT: Any individual with a disability requesting a reasonable accommodation in order to participate in a public meeting should contact the Communications Department at least 48 hours in advance of the scheduled meeting. The Communications Department can be reached in person at 400 S. Eagle Street, Naperville, IL., via telephone at 630-420-6707 or 630-305-5205 (TDD) or via e-mail at info@naperville.il.us. Every effort will be made to allow for meeting participation. City of Naperville Page 2 Printed on 11/13/2018