Village of Mettawa Finance Committee met April 17.
Here is the minutes provided by the Committee:
A. Call To Order
Chairman Maier called the meeting to order at 6:30 p.m.
B. Roll Call
Upon a call of the roll, the following were:
Present: Chairman Maier and Trustee Brennan and Trustee Towne
Absent: None
Chairman Maier declared a quorum present.
Also present: Village Administrator, Bob Irvin; Village Treasurer, Pam Fantus; Financial Consultant, Dorothy O’Mary; and Village Clerk, Sandy Gallo
C. Approval Of The Minutes
Chairman Maier requested a motion to approve the March 20, 2018 meeting minutes. It was moved by Trustee Towne and seconded by Member Brennan that the minutes be approved and be placed on file. The motion was carried.
D. Approval Of Invoices Presented For Payment
Financial Consultant O’Mary said three additional invoices were added. First invoice is for Sandy Gallo mileage for $34.44, Forest Builder for SSA#3 in the amount of $2,375.60 and Gewalt Hamilton for $691.00.
Chairman Maier said the new invoice amount to be paid is $107,288.06.
E. Review Of The Treasurer’s Report For March 2018
Village Treasure Fantus said a correction needs to be included under the Funds on Deposit in the US Banks Springfield does not include the interest of $7, 742.30, the new total is $6,228,925.72. Village Treasurer Fantus said the Motor Fuel Tax interest also needs to be added in the amount of $79.64 creating a new total of $63,895.39.
F. Update On The FY 2017-2018 Audit Schedule
Chairman Maier said the audit will be completed 2 weeks earlier this year. The Auditors will be able to provide the Committee results for the September Finance Meeting.
Financial Consultant O’Mary asked for clarification on how fixed assets appreciation relating to invested property improvements was going to be handled. Chairman Maier said if the improvement is grass seeds and trees less than the $25,000 threshold it will not be depreciated.
Village Administrator Irvin said the audit schedule is obtainable. Sikich has a portal which specifies their required documents for the audit and 95% of the documents have already been submitted. Chairman Maier said if any task on the audit schedule is not obtainable, please let the group know as soon as possible.
Chairman Maier asked if the Village had ever received an account analysis from Lake Forest Bank and Trust regarding the monthly incurred charges on the account. The answer was no. Village Treasurer Fantus said she will reach out to the LFBT to request an account analysis as of April 1st to review the details for the upcoming LFBT meeting.
G. Review Proposed Village Budget For FY 2018-2019
Village Administrator Irvin said the one change to the budget is the increase of $6,600 for the lettering on the new bridge. Village Administrator Irvin said the Public Works Committee approved this expense. Trustee Towne added the Village of Green Oaks has decided they will be placing their name on the northbound of the new bridge.
Village Administrator Irvin said the public hearing notification for the approval of the annual budget was published in the Daily Herald on April 2nd. The draft budget was posted on the Village website after the March Board Meeting.
Trustee Pink said on page 11, SSA#10 Nektosha Way is listed as a public road. Trustee Pink asked if this wording can present an issue that should be corrected. Trustee Towne said Nektosha Way could not be made wider due to the wetland and easement limitations. Village Administrator Irvin said the language of page 11 is directly from the ordinance. Village Administrator Irvin said the subdivision has not been recorded.
Resident, Tom Heinz said he has two brothers are at a conference presenting on how to finance a Village. Chairman Maier said he would like to review their presentation.
H. Any Other Items That May Appear To The Committee For Consideration, And If Approved, Be Recommended For Approval To The Board Of Trustees
Trustee Towne said at the last Around the Town(ATT) meeting, James Anderson Company fees and the reduction of issued permits were discussed. Trustee Towne said he reviewed Anderson’s monthly retainer contract and determined a new estimated amount. Trustee Towne said his amount included a 35% reduction, creating the new monthly amount to be $14,300. Village Engineer Scott Anderson also reviewed the monthly contract and estimated a monthly amount of $17,000. Trustee Towne said the monthly ATT meetings will also be modified to every 3 weeks. Village Engineer Scott Anderson recognizes the reduction of permits will occur this year. Village Administrator Irvin stated JACO has been at the same hourly rates since 2008. JACO did not act on the 4% increase that was granted in 2017. Trustee Towne said JACO has been very diligent in the Oasis lift, putting the contract together for the Riverwoods Boulevard repaving bids and the drainage work at the Oasis Park.
Village Administrator Irvin said the JACO contract will be reviewed at the May meeting. The new monthly amount could be effective May 1, 2018.
It was moved by Trustee Brennan and seconded by Chairman Maier to recommend a new monthly amount for Anderson to be $15,500. The motion was carried.
Trustee Towne said the new proposed monthly amount will be discussed with JACO at the next ATT meeting.
I. Adjournment
With no further business to conduct, it was moved by Trustee Brennan seconded by Trustee Towne that the meeting be adjourned at 7:05 p.m.
http://www.mettawa.org/images/pdf/AgendasNoticesMinutes/2018/Finance/04-17-18%20Finance%20Committee%20Minutes.pdf
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