Administration & Finance Committee

MINUTES OF A MEETING OF THE ADMINISTRATION & FINANCE COMMITTEE VILLAGE OF NORTHBROOK COOK COUNTY, ILLINOIS April 23, 2013 Members/Trustees Present (3) Michael Scolaro, Chairman Jim Karagianis Kathryn Ciesla Other Trustees Present Todd Heller Robert Israel A.C. Buehler Village Staff Present Rich Nahrstadt, Village Manager Phil Kiraly, Assistant Village Manager Jeff Rowitz, Finance Director Tom Poupard, Director, Development and Planning Services Gale Cerabona, Recorder Call to Order Chairman Scolaro called the meeting to order in the Terrace Room of Village Hall, 1225 Cedar Lane, at 6:46 p.m. and asked the Recorder to call the roll. A quorum was present. Hear From the Audience There were no comments from the audience. Discussion – FY 12/13 Budget Surplus Chairman Scolaro turned the meeting over to Director Rowitz who discussed the following options for the Committee to consider: General Fund Surplus Reserves  Balance could remain in General Fund for future use  Balance could remain in General Fund and be designated for future capital projects  Balance could be transferred to a Capital Projects or Enterprise Fund Trustee Ciesla inquired about what has been done historically. Chairman Scolaro & Village Manager Nahrstadt replied that historically surpluses have remained in the General Fund for future use. Chairman Scolaro asked about the history of the 40% fund balance policy and raised the question of whether this was still an appropriate level. Discussion followed on the pros and cons of the 40% fund balance policy and the Committee decided that the policy was still appropriate. Director Rowitz advised that reserves are currently 44%. Chairman Scolaro suggested anything over 42% be earmarked for capital funding so that future boards don’t have to borrow as much money. Chairman Scolaro stated that $1.2 million can go into an Infrastructure Fund to be used for future capital projects Page 2 Administration & Finance Meeting April 23, 2013 that are currently planned for debt financing. Trustee Ciesla stated she is in favor of earmarking over 42%. Trustee Buehler inquired if there are Village Services we’ve stopped doing. Village Manager Nahrstadt advised he has added staffing in the fire bureau, contractual and contractual assistance for plan reviews and health inspections. Trustee Buehler suggested increased police services. Village Manager Nahrstadt shared that additional parking can be slated for the following areas, which would cost $300,000:  Walters Avenue (St. Norbert’s) – 11 spaces  Reconfigure West Lot – 15 spaces Chairman Scolaro would like to move $1.2 million into the Infrastructure Fund. This offers:  Funding the future  Reduction on borrowing Trustee Ciesla moved to recommend that the Village Board transfer $1.2 million of reserves to the Infrastructure Fund. Trustee Karagianis seconded the motion. On a voice vote, the motion unanimously carried. Adjournment There being no further business, Trustee Ciesla moved, seconded by Trustee Karagianis, to adjourn the meeting. On a voice vote, the motion unanimously carried, and the meeting adjourned at 7:21 p.m. Respectfully submitted, Gale Cerabona Recorder