Kankakee Times

Village of Bourbonnais Finance Committee met Nov. 2.

Here are the minutes provided by the committee:

1. Meeting Opening

Meeting called to order at 4:00 PM by Trustee Greenlee (filled in for Trustee Rick Fischer)

Procedural: A. Roll Call - Trustee Bruce Greenlee

Members present: Mayor Paul Schore, Trustee Bruce Greenlee, Trustee Rick Fischer (on Zoom), Trustee Randy King, and Trustee Jeff Keast. Absent: Trustee Jack Littrell and Trustee Angie Serafini (arrived at 4:44 PM). 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, Interim Public Works Director Dave Herberger, Admin Assistant Margie Beach and Engineer Mike Gingerich arrived at 4:03 PM.

2. Review and Approve Committee Minutes

Action, Minutes: A. Finance Committee Minutes from October 12, 2022

Motion by Trustee Randy King, second by Trustee Jeff Keast to approve the Finance Committee minutes from October 12, 2022 as presented.Final Resolution: Motion CarriedAye: Trustee Bruce Greenlee, Trustee Rick Fischer, Trustee Randy King, and Trustee Jeff Keast

3. Bill Lists

Accounts Payable: A. General Fund

> Trustee King asked how much diesel fuel has gone up? Mr. Herberger said at the gas station its over $5/gallon, he will have to check with River Valley Metro on what they are charging us, which should be cheaper.> Trustee Keast asked how much under budget was the Community Room remodel project? Ms. Cyr responded it was under budget about $5,000.> Trustee Greenlee questioned electrical invoice for Slater Field? Mrs. Latz explained there was an electrical fire in the fuse box back in April. Outsen Electric came out to repair it several times once parts came in. We have mentioned this bill to the Little League and we are asking to cost share on this repair. Also, we are still working on an Agreement stating responsibilities and what we will cost share for electric bills going forward with Little League, we are setting up another meeting soon. 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 Monday, November 7, 2022.

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 Monday, November 7, 2022.

4. Other Business

Discussion: A. KVTA Sponsorship Request

> Mrs. Latz stated KVTA is requesting sponsorship for their 2022-23 theater season, they asked last year, and we declined (on Board Docs).Finance Committee agrees to decline this sponsorship request.

Discussion: B. Blue Gala Sponsorship Request

> Mrs. Latz stated Mayor Schore received information about a new Blue Gala event on March 25, 2023, and proceeds will be distributed to Police Departments in the area (on Board Docs).Finance Committee agrees to pay for a table of 8 people for $600 for this event.

Discussion: C. Police Pension Actuarial Report> Mrs. Latz went over the actuarial report from Lauterbach & Amen, LLP (on Board Docs). The report states as of May 1, 2022 we are 71% funded.> The actuaries came up with a recommended contribution amount of $1,010,331 for this year. We usually fund the statutory minimum or a little over, the minimum is $750,801 for this year, we have budgeted $904,000 the past couple years, and Mrs. Latz recommends we stay with that level.> The new State Pension law requires us to be 90% funded by the year 2040, by paying the budgeted funds we planned on, this will help put us closer to that goal.> Mayor Schore stated they had a conversation with Bob Vail from Bernardi Securities about taking out a bond to get caught up to this pension goal. Mayor also suggested taking funds out of the sewer sale investment of around $2M, we would continue to accelerate payments by paying more than the recommended amount, just something to consider and will look into further.> Mrs. Latz explained the actuaries added a new chart this year in their report - a matrix showing the age level and service level of all active members, have to be 50 years old and served 20 years to retire - we have 3 employees that could retire now. Also it shows in the chart how many are coming eligible to retire in the next 5 years. So it helps us to plan accordingly.Finance Committee agrees to pay the suggested amount of $904,000 into the Police Pension plan.

Discussion: D. Annual Bond Abatements> Mrs. Latz went over the annual bond abatement ordinances, which abates the payment of the principal and interest for outstanding bonds from the property tax levy which we will be talking about at the next meeting (on Board Docs).> We currently have 4 outstanding bond issues: $5M bond for capital projects from 2020, the TIF bond for the Jennings/Road Ranger project and Refunding bond (lower interest rate) from 2021 & the new Campus bond from 2022.> Mrs. Latz gave a savings summary based on home values by abating debt payments (on Board Docs). > Legislation has been created for the next board meeting.

Discussion: E. ARPA Discussion> Mrs. Latz went over the ARPA funds status, and focused on Republic Services (on Board Docs). Per our contract with Republic, there was supposed to be an increase of 4% on the October bill, but Republic missed adding this on the bills for this quarter. Republic has not put a notice out to the residents as of yet like we asked them to. Mr. Lopez at Republic stated they will correct this on the next quarterly bill which will come out mid December and due in January, which means they will add the $3 that was missed last time and add $3 for the current quarter for a total of $6 increase from Republic due in January, our concern is this would be a large increase.> Reminder we are trying to reduce the garbage discount we began last year to residents, this year we were going to cut our portion down to $3.00/month, so that would be a $4/month change = $12 for the quarter, plus the increase from Republic's correction that would be an $18 increase residents will see on their bills in December. We wanted to make the Board aware of this.> To keep the discount at $7/month for one more quarter would cost the Village $61,000 - if we don't do an increase for residents so they continue to get the discount for another a quarter. We can use ARPA funds to offset the cost. > Mrs. Latz stated there is a timing issue to let Republic know ASAP before they create the new bills. > Mayor Schore feels Republic should let residents know, through a mailing with an explanation, or Republic should be eating the cost of their missed quarter. Finance Committee agrees to reduce the discount to $3.00/month for the upcoming quarter on the Republic garbage bills.

Discussion: F. Goselin Park and Village Green Bids> Ms. Cyr stated on October 7, 2022 we opened bids for the Goselin Park and Village Green project (on Board Docs), we had two bidders - Johnson Downs Construction and PSI Construction. > Johnson Downs' bid came in at $18,519,285 with 3 alternates on the bid. PSI came in at $19,472,793 with 3 alternates. Administration suggests awarding the bid to Johnson Downs Construction Company, Inc.> Ms. Cyr went over the pipe size suggested along with the alternate restrooms that were added in next to the performance stage (floor plans are on Board Docs).> Ms. Cyr gave a timeline on upcoming meetings. The plan is to have a ground breaking on November 16, 2022 for the Village Green before the Finance meeting.Trustee Serafini arrived at 4:45 PM Finance Committee agrees to accept the bid from Johnson Downs Construction in the amount of $18,519,285, approval will occur at the next Regular Board meeting on Monday, November 7, 2022.

Discussion: G. Release of Retainage to Riverside for Burns Rd Drainage Project

> Ms. Cyr stated we have been working with Riverside and their contractors to finish the box culvert project near their site on Burns Road. A letter from Robinson Engineering was received stating the improvements have been completed and we can release the final retainage of $104,050 to Riverside Medical Center.Finance Committee agrees to release retainage to Riverside, and legislation will need to be created for the next Regular Board meeting on Monday, November 7, 2022.

Discussion: H. Accept Public Improvements, Roadway, and Release of Bond for OAK Professional Center

> Ms. Cyr stated OAK Orthopedics completed their punch list items and we are ready to release the construction funding hold. We can now accept the public improvements and roadway as well. Finance Committee agrees to have legislation created for the next Regular Board meeting on Monday, November 7, 2022.

Discussion: I. 5000 Rd & 6000 Rd (Bourbonnais Parkway) Rebuild IL Construction Costs> Ms. Cyr went over the Resolution for Improvements at 5000 North Road at a cost of $410,000, and the Resolution for Improvements at 6000 North Road Bourbonnais Parkway at a cost of $520,000. Plans are attached on Board Docs for review.Finance Committee agrees to create legislation approving the resolutions to go out for bid for these two location improvements.

5. Old Business - None

6. New Business - None

7. Public Comments - None

8. Executive Session

Action, Procedural: A. Motion to enter into Executive Session to discuss collective negotiating matters between the public body and its employees or their representatives, or deliberations concerning salary schedules for one or more classes of employees as allowed by 5 Ill. Comp. Stat. Ann. 120/2.

Motion by Trustee Jeff Keast, second by Trustee Angie Serafini Enter into Executive Session to discuss collective negotiating matters between the public body and its employees or their representatives, or deliberations concerning salary schedules for one or more classes of employees as allowed by 5 Ill. Comp. Stat. Ann. 120/2 at 4:53 PM.Final Resolution: Motion CarriedAye: Trustee Bruce Greenlee, Trustee Rick Fischer, Trustee Randy King, Trustee Jeff Keast, and Trustee Angie Serafini Trustee Rick Fischer left the meeting at 4:54 PM. Action, Procedural: B. Return to the Finance Meeting

Motion by Trustee Jeff Keast, second by Trustee Angie Serafini to exit the Closed Session and return to the Finance Meeting at 5:12 PM.Final Resolution: Motion CarriedAye: Trustee Bruce Greenlee, Trustee Rick Fischer, Trustee Randy King, Trustee Jeff Keast, and Trustee Angie Serafini

9. Adjournment and Time

Action, Procedural: A. Adjournment & Time

Motion by Trustee Randy King, second by Trustee Angie Serafini to adjourn the Finance Meeting at 5:12 PM.Final Resolution: Motion CarriedAye: Trustee Bruce Greenlee, Trustee Randy King, Trustee Jeff Keast, and Trustee Angie Serafini

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