City of Countryside Finance Committee met Oct. 23.
Here is the minutes provided by the committeeL
I. CALL TO ORDER
The meeting was called to order at 7:00 PM.
II. ROLL CALL
Those physically present are as follows:
Present: Treasurer Stancik, Chairman Finn, Alderman Jasinski, and Alderman Mikolyzk
Also Present: Mayor McDermott, City Clerk Kmet, Alderman Benson, Alderman Von Drasek, City Administrator Paul, Finance Director Schutter, and
Assistant City Administrator Peterson
III. APPROVAL OF FINANCE COMMITTEE MEETING MINUTES – SEPTEMBER 25, 2019
The Minutes of the Regular Meeting of September 25, 2019 were previously distributed to the members of the Finance Committee.
I move to approve the minutes of the Finance Committee meeting of September 25, 2019.
A motion was made by Alderman Jasinski that this matter be APPROVED, seconded by Alderman Mikolyzk and carried unanimously.
IV. Public Comment
None.
V. CONSIDERATION TO APPROVE THE MONTHLY TREASURER’S REPORT FOR THE 5 MONTHS ENDED SEPTEMBER 30, 2019.
Finance Director Schutter stated that surplus is almost $1.7M budgeted surplus is $1.1M. The upside of revenue is $272,000, sales tax is over $50K, interest income is $68K, income tax and gaming tax $20K, miscellaneous income is almost $180K. Miscellaneous income is up from overpayments/refunds from Comed ($155K) and AT&T ($7K). We sold some land to IDOT for their expansion project for $27K.
General fund is down about $255K due to Police personnel, Public Works is down in infrastructure maintenance, contractual/consulting, and operating supply expense.
A motion was made by Alderman Mikolyzk that this matter be APPROVED, seconded by Alderman Jasinski and carried unanimously.
VI. CONSIDERATION TO PURCHASE A SKID STEER FROM ALTOFER CAT IN THE AMOUNT OF $48,080 UNDER A SOURCEWELL COOPERATIVE PURCHASING CONTRACT.
Finance Director Schutter said that Public Works after observing the parking lot and site layout of the new municipal complex that they needed additional equipment for winter maintenance. They are looking to buy a skid steer with a push box to remove snow. Public Works only has one piece of equipment that will load the dump trucks during winter. This equipment will be a backup. The new equipment, with its attachments, will be able to repair sidewalks, replace sidewalks, move trees, and unload supplies.
Public Works received three bids under the Sourcewell Cooperative Purchasing Contracts, these contracts are all discounted. The three vendors are, Altorfer Cat was $48,080, Bobcat was $48,483, and McCann Case was $51,845.
Alderman Mikolyzk asked where we would be storing this equipment. Finance Director Schutter said maybe next to the sally port. Jesse will be talking to the Police about this.
Alderman Finn asked if this was a budgeted item. Finance Director Schutter said no it wasn’t but we do need the equipment. At the end of the year we always look where we are, if we are above the aggregate fund level if we need to do an amendment. We take individual items note in the budget to the Council during the year.
A motion was made by Alderman Jasinski that this matter be APPROVED, seconded by Alderman Mikolyzk and carried unanimously.
VII. PRESENTATION AND DISCUSSION ON THE FIRST REQUESTED BUDGET FOR FISCAL YEAR 2021..
Finance Director Schutter explained the process for the budget. We start in October and we won’t pass it until April. We look at the budget early to see if we want to levy property taxes.
When we go through the budget the first time, we just do the general fund and the capital fund. Those are our two primary operating funds.
We have an overall surplus of just under $50k. Finance Director Schutter has a contingency in the capital fund for City Hall expenses of $500k.
The first page has a projection even though we have only five months of data. We do a projection and compare that to our budget. We’re under in revenue and expenses relative to the projection.
Investment income is doing really well. The TIF owes the general fund $7.8M.
The TIF is producing increments now and it will start paying back the note. The notes are going to decline so we will get less interest on the note.
They’re talking about Federal cuts again. So that will lower the prime rate and that’s what indexes that loan. For those two reasons we expect interest income to go down.
On the expense side, we have a much smaller transfer to the capital fund this year by over $500,000.
We have the Admin Department going up by $113,000 due to a projected increase in Police Pension contributions and tax sharing reimbursements.
There could be some restructuring in the Community Development Department relative to the Building Official and we have that going down by about $70,000 to the projection. Alderman Finn asked if the Community Development number would include the prospect of the new hire. Finance
Director Schutter said the number does include the new hire. We put a full year salary for this position and we reduced some of our contractual costs.
City Administrator Paul said the Assistant City Administrator Peterson used to be in charge of the Community Development Department. We are now hiring a person so that will lower the salary. The Assistant City Administrator Peterson is now in the Clerk’s Office.
Finance Director Schutter said that at this time we would not recommend a tax levy.
A motion was made by Alderman Mikolyzk that this matter be APPROVED, seconded by Alderman Jasinski and carried unanimously.
VIII. OTHER BUSINESS
None.
IX. ADJOURN
There being no further business to discuss, Alderman Jasinski motioned to adjourn, seconded by Alderman Mikolyzk and carried unanimously.
Chairman Finn declared the meeting adjourned at 7:12 PM.
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