Kankakee Times

Village of Bourbonnais Finance Committee Met Feb. 10.

Here is the minutes provided by the committee:

1. Meeting Opening

Meeting called to order at 4:00 PM by Trustee Rick Fischer electronically via Zoom per the Governor's directive.

Procedural: A. Roll Call

Members present: Mayor Paul Schore, Trustee Bruce Greenlee, Trustee Rick Fischer, Trustee Jeff Keast, and Trustee Jack Littrell. Also in attendance, Treasurer Ron Riebe, Attorney Patrick Dunn, Administrator Mike Van Mill, Assistant Administrator Laurie Cyr, Finance Director Tara Latz, Deputy Chief Dave Anderson, Assistant Public Works Director Dave Herberger, Building Commissioner Paul Hafner, Engineer Dave Tyson, Marketing Manager Lindy Casey, and Administrative Assistant Margie Beach. Absent: Trustee Randy King (arrived at 4:18) and Trustee Angie Serafini

2. Review and Approve Committee Minutes

Action, Minutes: A. Finance Committee Minutes from January 27, 2021

Motion by Trustee Jack Littrell, second by Trustee Bruce Greenlee to approve the Finance Committee minutes from January 27, 2021, as submitted.

Final Resolution: Motion Carried

Aye: Trustee Bruce Greenlee, Trustee Rick Fischer, Trustee Jeff Keast, and Trustee Jack Littrell

3. Bill Lists

Accounts Payable: A. General Fund

> Trustee Fischer stated there were a couple of bills to R&R for capital improvements on the General Fund list and asked Engineer Tyson if there is an update on the lift station and interceptor? Mr. Tyson stated one bill was for the final repairs that had to be corrected by R&R that M&J did not do on that job. Another bill was including Change Order #7, approved at the last meeting for enlarging the driveway at the lift station. Getting close to the last bills we should be getting on this project. The lift station should be turned on by the end of this month. The only thing left to do is disconnect the old lift station and to make the affluent flow from where the old lift station was at 6000 to the new lift station.

> Trustee Littrell questioned the charge for a tree removal at the end of Ray Street from the ice storm? Mr. Herberger said it was on Village property, so it was removed.

The General fund bill list was reviewed and the Finance Committee agreed to proceed with payment of the bills at the next Regular Board meeting on Tuesday, February 16, 2021.

Accounts Payable: B. Special Fund

The Special fund bill list was reviewed and the Finance Committee agreed to proceed with payment of the bills at the next Regular Board meeting on Tuesday, February 16, 2021.

4. Other

Action, Information: A. Approval of Travel Expenses for Building Department

> Finance Director Tara Latz stated Paul Hafner and Eric Cyr, Building Department staff are requesting to attend training courses in Elgin, IL in March and April 2021. One course was supposed to be in February but was canceled.

Finance Committee agrees to create legislation for training classes to be attended by the Building Department staff at the next Board meeting on Tuesday, February 16, 2021.

Information: B. Discussion of Police Pension Actuarial Reports for Upcoming Year-end Contributions

> Ms. Latz gave an update on the actuarial report for the Police Pension Fund (on Board Docs) that came out from Lauterbach & Amen, who outlines two scenarios.

> Both contribution scenarios went up quite significantly this year for the Village. The recommended contribution is at $1,218,573; the Illinois Statutory Minimum amount required is $936,136, there is a big increase - 26% compared to last year. For at least the last 6 years we have always paid the minimum contribution. Last year the amount was $742,949, this year the increase is over $160,000, which needs to be paid by the end of this fiscal year. The actuarial measurement date is done on April 30 each year, it's unpredictable and difficult to budget for.

> The amortization target for the recommended contribution is to have the fund at 100% funded in 18 years. The minimum contribution is based on an amortization target to be 90% funded in 20 years.

> Bourbonnais is at 67% funded per the State of Illinois, we will need to be 90% funded by the year 2040 due to pension law changes.

> Currently we have 16 retirees on the plan in addition to our active 26 officers - so 42 employees on the plan.

> Three biggest reasons for the increase; 1) Plan changes made up 30% of the increase, due to legislation changes under pension consolidation for Tier 2 (employed after January 1, 2011) members, we have 10-12 employees in our department in that Tier 2; 2) Demographic changes is due to hiring new members, members becoming disabled, retirements, deaths, etc.; and 3) Assumption changes are from a comprehensive review and update of actuarial assumptions this year based on the newest data available from Lauterbach & Amen.

> Ms. Latz stated the Illinois Department of Insurance does their own actuarial calculation each year, and it was calculated at $904,523, which she is recommending the Village pay for this year.

Finance Committee agrees to go with the State minimum contribution of $904,523 and legislation will be created for the next Board meeting on Tuesday, February 16, 2021.

Information: C. Coronavirus/Local CURE Program Update

> Ms. Latz gave an update on the reimbursement from the CURE program, we have not been reimbursed yet. We will give another update in two weeks. Reminder we are allotted for $768,000, our first request was for bill lists costs that we incurred from March – November 2020, which totaled around $12,000. This recent request was payroll related, have not heard back with any questions or comments yet from the State.

Discussion: D. Collections Update

> Ms. Latz gave an update on collections (on Board Docs). Due to COVID-19 shut-downs, the Village waived credit card fees, we didn't send delinquent bills for 3 months, so we started back in June doing collections. In November, Bobbi Sippel left who was our main collections person, Tyler Thornton took over this responsibility. Since November, we are actually down $27,000 on the A/R report, and from December to January we are down by $17,421 on the A/R. We exclude the number for two nursing homes who have been in bankruptcy. We are making headway with collections, our goal is to get down to under $100,000. Ms. Thornton's doing a great job calling people, setting up payment plans and putting liens on properties.

Discussion: E. Discussion on Proposed SB 120: Non-Home Rule MFT Authority

> Administrator Van Mill shared a memo from IML (on Board Docs) in regard to a statewide expansion of non-home rule Motor Fuel Tax Authority. Asking Trustees to review and will discuss again if they are interested in taking a position and offering a letter of support for this program. We will discuss at the next Finance meeting.

Information: F. Other

> Ms. Latz gave an update on the accounting position that is open. We have completed first interviews, 3 are coming back on Thursday for second interviews. We are hoping to have a decision made by next week.

> Mayor Schore stated he received another request from Casey's asking again for a packaged goods liquor license. Currently, we do not have gas stations with liquor licenses, we do have a truck stop. Please think about, and we will discuss at another time.

5. Old Business - None

6. New Business - None

7. Public Comments

Discussion: A. Village Clerk or designee will read complying statements into record if any. - None

Discussion: B. The Village will unmute ZOOM participants, so public comment can be made directly by the public. (Participants are required to take turns and be recognized by the President/Chairman prior to making statements). - None

8. Executive Session

Action, Procedural: A. Enter into a Closed Session to discuss the appointment, employment, compensation, discipline, performance, or dismissal of specific employees of the public body, as allowed by 5 ILCSA 120/2(c)(1). - Not applicable.

9. Adjournment and Time

Action, Procedural: A. Adjournment and Time

Motion by Trustee Jeff Keast, second by Trustee Jack Littrell to adjourn the Finance Meeting at 4:41 PM.

Final Resolution: Motion Carried

Aye: Trustee Bruce Greenlee, Trustee Rick Fischer, Trustee Randy King, Trustee Jeff Keast, and Trustee Jack Littrell

https://go.boarddocs.com/il/vobil/Board.nsf/Public