Tuesday, October 18, 2005
7:30 PM
Village of Lombard
Village Hall
Finance Committee
Trustee Kenneth Florey-Chairperson |
Trustee Rick Soderstrom-Alternate Chairperson |
Edward Murphy, Bill Ware, David Wellehan, |
James Hogan, Mary Cation, Jim Castaldo |
Staff Liaison: Leonard J. Flood |
Meeting Minutes
Community Room
Finance Committee
Meeting Minutes
October 18, 2005
1.0
Call to Order and Roll Call
Mary Cation, Edward Murphy, David Wellehan and Jim Castaldo
Present:
James W. Hogan and Bill Ware
Absent:
Staff Present: Bill Lichter, Tim Sexton
2.0
Public Participation
None
3.0
Approval of Minutes
It was moved by Murphy, seconded by Wellehan, to approve the minutes of |
January 18, 2005 and February 21, 2005. The motion carried by the following vote: |
Aye:
Cation, Murphy, Wellehan and Castaldo
4 -
Absent:
Hogan and Ware
2 -
4.0
New Business
050583
Update on 2006 Insurance Renewal |
The Village's Risk Management Consultant, Mike Nugent, reviewed his memo and |
spreadsheet for the 2006 insurance renewal. He indicated that there would be an |
impact on the renewal from state legislation on workers compensation that was recently |
passed. Also, Mr. Nugent informed the Committee that a Request for Proposals was |
done for claims administration. He will be receiving these proposals and will review |
them with staff. There were questions as to whether there were any other options for |
the Village. Mr. Nugent informed them that at this time there are no other realistic |
options. Discussion followed. |
050582
Revisions to the Village of Lombard Purchasing Manual |
A report was presented by Tim Sexton on the proposed changes to the Purchasing |
Manual. There were questions regarding the dollar level of approvals. Clarification was |
provided by staff. Discussion followed. |
It was moved by Murphy, seconded by Cation, that this matter be recommended |
to the Board of Trustees for approval including all staff revisions to the Village of |
Lombard Purchasing Manual. The motion carried by the following vote: |
Aye:
Cation, Murphy, Wellehan and Castaldo
4 -
Absent:
Hogan and Ware
2 -
Enactment No: Resolution 30-06 |
050493
Recommendation of the Finance Committee to place a Non-Home Rule Sales Tax |
Referendum question on a future ballot. |
Village Manger Bill Lichter made a PowerPoint presentation to the Committee on the |
Village's financial condition and the need for a long-term source of additional revenue. |
There was discussion of the impact that the property tax cap has had and will have in |
the future on the Village. There was also discussion of the possible referenda that could |
be placed on a ballot, and in particular the non-home rule sales tax. |
There was additional discussion regarding the referendum. The Committee |
unanimously agreed that the Village should consider hiring a consultant to assist in |
organizing an educational campaign on the referendum. There was also concern |
whether there would be enough time prior to the March 21, 2006 election to conduct this |
educational campaign. Bill Lichter informed the Committee that staff would research this |
and inform the Board on these issues. |
It was moved by Wellehan, seconded by Murphy, that this matter be |
Recommended to the Board of Trustees for approval of the staff recommendation |
to seek a 0.5% non-home rule sales tax through a referendum. The motion carried |
by the following vote: |
Aye:
Cation, Murphy, Wellehan and Castaldo
4 -
Absent:
Hogan and Ware
2 -
5.0
Unfinished Business
6.0
Review of Financial Information
Tim Sexton reviewed the budget calendar with the Committee. |
Tim Sexton reviewed the current sales tax report with the Committee. Discussion |
followed. |
7.0
Future Meeting Dates
Future meeting dates were reviewed by the Committee.
8.0
Adjournment
It was moved by Wellehan, seconded by Cation, to adjourn at 8:50 p.m. The |
motion carried by a voice vote |