Village of Western Springs Finance Committee met Nov. 8.
Here are the minutes provided by the committee:
Nicole Chen, Chairperson
Scott Lewis, Trustee
John Mastandona, Director of Finance
Heidi Rudolph, Village President
Ellen Baer, Village Manager
Others Present:
Village Hall
Meeting called to order at 6:01 pm
Items of Discussion:
• Public Comment: None
• Minutes: The minutes of the October 2, 2023, Finance Committee meeting were approved as presented.
• South TIF Expenditures – Design Engineering: Burlington Ave Bump-out: Director Mastandona stated that the Public Works & Water Committee reviewed an agreement for design engineering of bump outs along Burlington Avenue to accommodate outdoor dining and improve pedestrian safety. He stated the project that falls within the South TIF District and is eligible to utilize TIF Funds. Staff is requesting the Finance Committee to consider using TIF funds for design engineering of the project which is not to exceed $30,000. The Committee discussed the project and felt the project was a good use of TIF funds. The Committee recommended the use of TIF funds for the design engineering of the Burlington Bump-outs be placed on the November 13th Board Meeting agenda.
• Municipal Purchasing Cards and Code Amendment: Director Mastandona presented staff’s proposal to utilize municipal purchasing cards (P-Cards) in its current operations. He stated that utilizing P-Cards would not alter current operations and controls, but instead enhance them. He stated that the current process of having one credit card to use in operations is not efficient in today’s operations. Staff reviewed a few different programs but felt that the program through Fifth Third Bank offered the best option, as they are partnered with the West Central Municipal Conference (WCMC) to provide additional benefits to the membership. To begin implementation, the approval of two agreements and an amendment to the Municipal Code Section 1-13-6 (Purchases and Purchasing Agent) will be needed. The Committee felt the request would benefit efficiencies and effectiveness and recommended the agreements and code amendment be placed on the November 13th Board Meeting agenda.
• Budget Amendments/Transfers: There were not any Budget Amendments or Transfers presented to the Committee.
• 2023 Property Tax Levy: Director Mastandona stated that not much has changed in the draft 2023 property tax levy since the Committee last reviewed. He stated that some line items changed within the Corporate line item amount, but overall the amounts and percentages presented were the same. To review, the total levy amount is $10,637,700, which is allocated as $8,703,875 to the Village and $1,933,825 to the Thomas Ford Memorial Library, which has no authority to levy a property tax. The Village’s total levy is 5.47% higher than the 2022 levy. The increase is attainable at the 2023 allowable increase per the Property Tax Extension Law Limit (PTELL) which is determined by the Department of Revenue’s calculations of 5%. The Village expects to capture the remaining 0.47% from new growth. Any amount requested over the actual new growth would be reduced from the total levy received. He stated that a resolution determining the estimated real property tax levy would be needed to be placed on the November 13th Board Meeting agenda. A public hearing will be on December 4, 2023 with formal adoption to be anticipated on December 18, 2023. The Finance Committee recommended the resolution be placed on the November 13th Board agenda.
• 2024 Proposed Budget: The Committee reviewed the General Fund revenues and expenditures in the proposed 2024 budget. Director Mastandona highlighted some of the assumptions used for projecting revenues. He stated that each Director presented their expenditures to their respective committee. The Finance Committee discussed some of the large increases and decreases in revenues and expenditures in the General Fund. Director Mastandona stated that the General Fund is projected to end the year with a minimal surplus in the 2024 proposed budget and that the Committee will review the other funds at their next meeting. He also stated that the 2024 proposed draft budget will be available online on the Village website on the Finance page and there will also be a hard copy available at Village Hall and at the Thomas Ford Memorial Library for anyone interested.
• Other Business: Director Mastandona requested to schedule the next Finance Committee meeting. The Committee discussed possible times and decided to schedule the next Finance Committee meeting on November 21, 2023 at 5:00 pm.
There being no further business, the meeting was adjourned at 6:57 pm
https://www.wsprings.com/AgendaCenter/ViewFile/Minutes/_11082023-1585
