z - Retired - Finance Committee

draft Finance Committee Meeting Minutes - March 9, 2017 Westmont Village Hall Call to Order: 6:02 pm - Mayor Gunter Pledge of Allegiance Roll Call: Committee Staff Trustee Liddle (6:09) Director Parker Trustee Barker Manager May Trustee Guzzo (Chair) Fire Chief Weiss Mayor Gunter Public Works Director Ramsey Trustee Addington Deputy Fire Chief Riley Trustee Barry Deputy Fire Chief Connolly Asst Public Works Director Noriega MS Supervisor Brendle Asst Finance Director Olsson CD Director Ziegler Mgmt Analyst Mielcarski Visitors None Larry Forssberg - WCCTB Execu ve Director Chamber of Commerce Execu ve Director Forssberg and Communica ons Director McIntyre introduced Westmont Restaurant Week. Minutes approved: The February 2, 2017 Mee ng Minutes were approved by a mo on from Trustee Addington and a second by Trustee Barry , all ayes. UNFINISHED BUSINESS: None NEW BUSINESS: Director Parker asked Manager May to review the concept of the mee ng, sta ng that Director Parker would review the capital budget items first and then dive into things further. Director Parker reviewed the list of the long range plans, reviewing the various available funds. The total of capital expenditures will net a deficit of $41.5 million dollars. The suggested minimum balances of reserves were reviewed and explained. Various op ons and scenarios such as property tax freezes, and issuance of bonds were discussed. Trustees Addington and Barry commented, and the commi ee concurred, that we should not implement any increase in taxes or water rates beyond the ongoing water rate increase that has already been planned and started. The Board reviewed the poten al projects and requested that staff provide the following items at the budget workshop mee ng: ● A priori zed list of projects, which Manager May said would be presented as a balanced budget; ● Funding a por on of alley projects from the Stormwater Fund; ● Iden fy ability to use Hotel/Motel funds to assist in a development for a business that will bring visitors to town; ● Iden fy poten al reduc ons in proposed projects in the Stormwater Fund; ● Iden fy ways to poten ally reduce cost in the Public Works Facility; ● Present high cost capital items, with the lower cost items listed in the aggregate. REPORTS: Trustee Guzzo noted that the Budget Workshop would be held on April 6, 2017 at 6:00 pm. Adjourn: 8:15 pm, mo on to adjourn was made by Trustee Liddle, seconded by Trustee Addington, and approved with all ayes.