Finance Committee

Finance Committee Meeting Council Chambers January 21, 2015 8:00 a.m. Call To Order: Meeting opened at 8:00 am Roll Call: Finance Director Neukirch called the roll for Committee members. Committee Members Present: Chairman LoVerde, John Johann, Al Weel, Robert Callero, Village Manager Steve Vinezeano and Finance Director Scot Neukirch Committee Members Absent: None Non Committee Members Present: Community Development Director Chuck Ostman, Senior Center Director Kelly Mickle, Asst Community Development Director Rich Wlodarski, Attorney Joe Annunzio and Asst Finance Director Laurie Nannini Approval of Minutes: The minutes from the December 10, 2014 Finance Committee meeting were up for approval, motion made and all concurred. Accounts Payable Approval: The approval of the Accounts Payable registers for 12/5/14, 12/12/14, 12/19/14, 12/26/14, 1/2/15 and 1/9/15 were up for approval, motion made and all concurred. New Business Senior Center Non Resident Fee: Senior Center Director Mickle explained the proposed non-resident membership fee. With this new membership, non-resident senior citizens would be allowed to join the Niles Senior Center and pay membership rates for trips and classes. The proposed non-resident rates are $35 for an individual and $45 for a couple. Mickle responded to several questions from the Committee. Motion was made and all concurred to send the proposed fee to the Village Board with the Finance Committee’s approval. Fire Alarm Monitoring Fee: Community Development Director Ostman and Asst. Community Development Director Wlodarski returned to the Finance Committee to discuss the proposed fire alarm monitoring program. After Ostman and Wlodarski responded to several questions from the Committee, a motion was made and all concurred to send the proposed fee to the Village Board with the Finance Committee’s approval. American Express Bonus: Finance Director Neukirch updated the Committee on the status of the American Express purchasing program he had presented approximately 12 months prior to the Committee. By participating in the program the Finance Department earned over 100,000 points in the last 12 month period which would translate in to $50,000 for the Village. By spending over $10 million in the 12 month period, the Village also earned a one-time bonus of $20,000. Neukirch recognized the departmental staff primarily responsible for making this happen; Susan Bus, Mike Grochocki and Jennifer Seymour. The Committee expressed their pleasure with the success of this program and there was some discussion on how the program could be expanded taking in to consideration some of the limitations that Neukirch explained. Update of Pension Transition: Finance Director Neukirch updated the Committee on the transition to a new investment manager and accounting manager that both pension funds have been undertaking over the last month and a half. Neukirch explained that it required a lot of work but everything was completed on time and both were up and running as of January 1, 2015. There was some discussion with the Committee on the time it took to transfer to a new financial advisor and the transition in general. EPay Water Bill Update: Finance Director Neukirch updated the Committee on the new online payment method available to residents for their water bill payments. Neukirch explained that residents can now pay for their water bill online by going to the Village’s internet home page. Neukirch explained that the fee for this service is $1 for payments up to $40 and 2.35% for payments over $40. There was discussion with the Committee concerning accepting direct debit in the future. Staff also explained that the Village will be accepting other types of payments in the future for other bills and that the  Village or State does not make any money on this program, this just gives residents another payment method option as has been requested by many residents. Quarterly Water Billing Update: Asst. Finance Director Nannini updated the Committee on the Finance Department’s list of delinquent water accounts, payment plans, leak adjustments and the Illinois Debt Recovery Program. These programs, created in conjunction with the Finance Committee, have been very successful in reducing the Village’s outstanding debt. Other Business: Chairman LoVerde and Community Development Director Ostman updated the Committee on the status of the FY 16 budget request for the Village’s storm water relief program. LoVerde stated that the FY 16 budget amount needs to be $360,000 which basically would be a carryover from what was unused in FY 15. Public Comment: Louella Preston asked that the Chairman be sure to recognize the Finance Department for their efforts in saving the Village $70,000 by utilizing American Express. Preston also asked how much 1/4% sales tax went to the pensions in FY 14. Finance Director Neukirch will provide Preston with the requested information. Executive Session: None Return From Executive Session: None Adjournment: Motion to adjourn was made and all concurred at 8:50 am. Prepared by Scot Neukirch on 1/21/2015