Finance Committee

Finance Committee Meeting Council Chambers December 16, 2015 8:00 a.m. Call To Order: Meeting opened at 8:04 am Roll Call: Finance Director Neukirch called the roll for Committee members. Committee Members Present: Chairman LoVerde, Bob Callero, John Johann and Paul Nielson Committee Members Absent: Al Weel Village Staff Present: Village Manager Vinezeano, Finance Director Neukirch, Assistant Finance Director Nannini and Village Attorney Annunzio Approval of Minutes: The minutes from the November 18, 2015 Finance Committee meeting were up for approval, motion made and all concurred. Accounts Payable Approval: The approval of the Accounts Payable registers for 11/6, 11/13, 11/20, 11/25 and 12/4 were up for approval, motion made and all concurred. New Business 6B Application: This agenda item was tabled to a future meeting. FY 17 Budget Calendar: Finance Director Neukirch went over the schedule of dates for the FY 17 budget process. Neukirch explained that the dates are subject to change pending Committee and Board member’s availability and requested members to notify him immediately if they know any of the dates do not work for them. Other Business: Chairman LoVerde asked if the ¼% sales tax that has not been contributed to the Water Fund to support the Cleveland water relief project which has been delayed is being used to pay for the purchase of 9101 Greenwood. Finance Director Neukirch explained that the Village is still trying to determine the best method of payment for the Greenwood property. Staff will investigate various debt issuance options during the upcoming budget process and update the Committee on its progress. Neukirch also confirmed that the ¼% sales tax that was not used for the Cleveland Project will remain in the General Fund and be used for pensions this fiscal year. Public Comment: None . Executive Session: The Finance Committee went in to executive session at 8:10 am concerning the semi-annual review of executive session minutes. A motion was made to go in to executive session and all concurred Return From Executive Session: At 8:21 am the Committee returned from executive session. A motion was made and all concurred to approve the executive session minutes from 6/24/2015, 7/15/2015 and 9/22/2015. A motion was made and all concurred to release the executive session minutes from 6/24/2015 and 7/15/2015. Adjournment: Motion to adjourn was made and all concurred at 8:25 am. Prepared by Scot Neukirch on 12/16/2015