Finance Committee
Village of Lombard
Meeting Minutes
Trustee Karen S. Koenig, Chairperson |
Trustee Richard J. Tross Alternate Chairperson |
Edward Murphy, Bill Ware, David Wellehan, |
James Hogan, Mary Cation, Jim Castaldo |
Staff Liaison: Leonard J. Flood |
7:30 PM
Village Hall
Tuesday, January 20, 2004
Village Manager's Conference Room
1.0
Call to Order and Roll Call
Chairperson Trustee Karen S. Koenig, James W. Hogan, Edward Murphy, |
David Wellehan and Bill Ware |
Present:
Mary Cation and Jim Castaldo
Absent:
Others in attendance: Len Flood, Tim Sexton, Anne Fairbairn, and Ron Amen
2.0
Public Participation
None
3.0
Approval of Minutes
It was moved by Wellehan, seconded by Hogan, to approve Minutes of 10/21/03 |
The motion carried by a voice vote |
It was moved by Murphy, seconded by Wellehan, to approve Mintues of 12/9/03 |
The motion carried by a voice vote |
4.0
New Business
030892
S. Accept and File 2003 Comprehensive Annual Financial Report, Management |
Letter and Recommendations Regarding the Management Letter Concerns |
Motion to accept and file with the Village Clerk the 2003 Comprehensive Annual |
Financial Report, Management Letter and recommendations regarding the Management |
Letter comments. |
Village Auditor Ron Amen of the accounting firm of Lauterbach and Amen presented the |
FYE 2003 CAFR. Amen indicated that the Village had implemented all the provision of |
GASB 34 one-year ahead of schedule. He further noted that the Village was still in the |
process of implementing the retroactive infrastructure reporting requirement of GASB |
34, but had four more years to comply. He reviewed the new report format with the |
committee and answered questions from committee members. Accounting Manager |
Anne Fairbairn reviewed the FYE 2003 Management Letter comments with the |
committee members as well as the staff responses. Discussion followed. |
It was moved by Wellehan, seconded by Murphy, that this matter be recommend |
to the Board of Trustees for Approval. The motion carried by the following vote: |
Aye:
Hogan, Murphy, Wellehan and Ware
4 -
Absent:
Cation and Castaldo
2 -
030833
Q. Community Development Fee Schedule Modifications (Two Ordinances on |
Second Reading) |
1. Ordinance amending Title 3, Chapter 36, Section 36.21 of the Lombard Village Code |
with regard to the fee schedule relative to certain zoning and subdivision related |
petitions and applications. |
2. Ordinance amending Title 1 of the Lombard Village Code with regard to cost |
recovery. |
Director of Community Development Dave Hulseberg reviewed his report regarding |
these fee increases with the committee. The increases were presented to the Village |
Board at the 1/6/04 Budget Workshop Meeting and referred to the Finance Committee |
for consideration. Discussion followed. |
It was moved by Ware, seconded by Wellehan, that this matter be recommended |
to the Board of Trustees for approval. The motion carried by the following vote: |
Aye:
Hogan, Murphy, Wellehan and Ware
4 -
Absent:
Cation and Castaldo
2 -
Enactment No: Ordinance 5434, 5435 |
5.0
Unfinished Business
None
6.0
Review of Financial Information
Len Flood reviewed the latest sales tax information with the committee and discussed |
other revenue issues of concern and how they might affect the FYE 2005 Proposed |
Budget. |
7.0
Future Meeting Dates
Future Meeting dates were reviewed with the committee members. Following |
discussion, the meeting scheduled for February 24, 2004 to review and discuss the FYE |
2005 proposed budget was rescheduled to February 26, 2004 at 7:30 p.m. due to a lack |
of a quorum for the meeting on February. 24. |
8.0
Adjournment
It was moved by Wellehan, seconded by Murphy, to adjourn at 9:28 p.m. The |
motion carried by a voice vote |