HomeMy WebLinkAboutMinutes - 2/12/1996 - Finance and Personnel Committee � FINANCE COMMITTEE MINUTES
February 12, 1996
Members Present : Chairman Lawson, Bill Baird Greg Bates
arrived at 7 :36 P.M.
Others Present : City Clerk Althoff, Senior Clerk Susan
Christenson
Alderman Lawson called the meeting to order at 7 : 30 P.M. Copies
of the projected year end expenses and 1996-97 revenues for each
of the City' s fund balances were distributed. Chairman Lawson
stated the agenda for tonight' s meeting was to review each of the
funds, evaluate the projected expenses and budget for the 1996-97
income .
GENERAL FTJND
Lawson noted the year end projected income was very close to the
budgeted amount . He explained the 1996-97 projected sales tax
revenue figures reflected a 50 overall increase and inclusion of
anticipate sales tax dollars from the "east of the river"
annexation. The projected 96-97 sales tax revenue increase was
based on an increase estimate for Illinois State Income Tax from
$55/person to $59/person and 4 . 5o anticipated growth rate .
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Alderman Bates arrived at 7 : 35 P.M.
General fund expenses noted a transfer of funds from the sewer
fund of $39, 000 to cover the currently incurred "east of the
river" sewer expansion expenses . Some discussion occurred
regarding the traffic income vs . traffic legal fees .
Police. .Lawson noted the significant difference between year end
projected figures and budgeted figures from civilian and sworn
salaries noting that anticipated hires came late in the fiscal
year and the City did not hire as many officers as they had
planned.
Public Works . . .Discussion regarding the need to budget for
underground tank removal occurred. Lawson and Baird noted the
capital outlay project relating to the Lakeland Park drainage
problem had not been completed this year and should be carried
over to the next fiscal year.
Building and Grounds . . . It was noted that the budgeted figure for
salaries in this fund was significantly lower than the projected
expense . Lawson stated his intent to question Director of Public
Works Batt on Thursday when he meets with the Department Heads to
review their budget requests .
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Finance C�mmittee Meeting
� February 12, 1996
Page Two
Vehicle License Fund. . Senior Clerk Christenson asked City Clerk
Althoff t�� provide her with the anticipated expenses for stickers
and supplies as well as computer equipment and supplies .
Civil Defense Fund. .Some discussion occurred regarding the need
to continue the warning siren program and budget for a siren
system for the west side of the city and perhaps the newer east
of the river area.
Insurance Fund. .Senior Clerk Christensen noted the need to budget
revenue and expense figures for this fund.
Employee Insurance Fund. . Senior Clerk Christensen noted the need
to budgeted revenue and expense figures for this fund.
Retirement Fund. .Senior Clerk Christensen noted the auditor' s
recommendation to levy additional monies for this fund as the
current balance will not cover expenses .
Annexation Fund. .Discussion regarding the possibility of
budgeting either for the 96-97 or 97-98 fiscal year for an
updated comprehensive plan and map noting the last update was in
1990 occurred.
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Development Escrow. .Lawson noted the year end projections were
just reflections of the 95-96 budgeted figures .
Motor Fuel Tax Fund. .The need to review the budgeted projects and
expenses was noted.
Park Donations . . $300, 000 for the Brookside Park was budgeted for
the 96-97 year in response to the City' s unsuccessful bid for a
grant . It was noted that the application will be resubmitted
next year, however funds would not be received until the 97-98
fiscal year. The $300, 000 would be sufficient to begin the
park' s development .
Water/Sewer Fund. .Discussion ensued regarding the appropriate
placement for the purchase of the 1115 River Road property which
will be utilized for the construction of a lift station to extend
sewer service to the east of the river properties and how to
budget/finance for the $3 . 6 million expansion project .
Capital Development Fund. .The committee questioned the budgeted
$150, 000 capital outlay figure . It was assumed the monies might
have been earmarked for the possible purchase of the McHenry
Shores Water Company.
`' Project Assessment. . Senior Clerk Christensen noted this fund
Finance C�mmittee Meeting
� February 12 , 1996
Page Thre:
Project A.�sessment (cont) . . must be reviewed closely as many
residents, more than anticipated, paid off the assessment early
and inter�=_st rates have dropped significantly.
Recreation Programs . .Discussion ensued regarding Knox Pool and
the need to make significant upgrades and repairs in the near
future, perhaps a new filtration system and pumps . Lawson also
noted that account 42 . 605 Fee Supported Programs was budgeted
significantly higher than actual income and should be adjusted
for the 96-97 fiscal year to reflect this situation.
Revolving Loan Fund. .reflects the loan with Eco-Tech. Senior
Clerk Christensen noted a correction in account 315 Interest
Earned from 11, 500 to 1, 500 .
The meeting was adjourned at 9 : 50 P.M.
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