Kankakee Times

Village of Bourbonnais Finance Committee met Aug. 2.

Here are the minutes provided by the committee:

1. Meeting Opening

Meeting called to order at 4:10 PM by Trustee Rick Fischer

Discussion: A. Roll Call - Trustee Rick Fischer

Members present: Mayor Paul Schore, Trustee Bruce Greenlee, Trustee Rick Fischer, Trustee Randy King, Trustee Jeff Keast, Trustee Jack Littrell, and Trustee Angie Serafini. Also in attendance, Treasurer Ron Riebe, Attorney Patrick Dunn, Administrator Mike Van Mill, Assistant Administrator Laurie Cyr, Finance Director Tara Latz, Public Works Superintendent Terry Memenga, Chief Jim Phelps, and Admin Assistant Margie Beach

2. Review and Approve Committee Minutes

Action, Minutes: A. Finance Committee Minutes from July 12, 2023

Motion by Trustee Jack Littrell, second by Trustee Bruce Greenlee to approve the Finance Committee minutes from July 12, 2023 as presented.

Final Resolution: Motion Carried

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

3. Bill Lists

Accounts Payable: A. General Fund

> Questions on invoices and payments were discussed and answered by Mrs. Latz, Superintendent Memenga and Ms. Cyr.

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 August 7, 2023.

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 August 7, 2023

4. Other Business

Discussion: A. Economic Incentive - PSI Development

> Mr. Van Mill stated this is a follow up to the C&ED meeting last week we had with PSI, they have a proposal for a 4- phase warehouse development on approximately 40 acres, south of the new Road Ranger (on Board Docs). PSI is requesting an incentive agreement with TIF to help offset the cost of the construction at the site which would include sewer, water and road extension. The proposal would be over a 10-year period for each building, 75% property tax rebate the first 5 years and then 50% rebate for years 6-10.

> Discussion was had in regard to parameters in the agreement with a contingency regarding the current TIF and putting in a time frame window to have all 4 buildings completed in a certain amount of time once the occupancy of the first building is completed to be sure the development happens on a consistent basis.

Finance Committee agrees to respond to PSI's Business Assistance Incentive Application with parameters that were discussed.

Discussion: B. BESD #53 Walking Path Maintenance Agreement

> Mayor Schore stated he, Mr. Van Mill and Mr. Memenga met with the BESD#53 School Board to discuss the installation of a 10-foot wide concrete sidewalk near Liberty School (on Board Docs).

> Mr. Memenga gave a cost estimate of under $20,000 by using our Public Works staff to install the bike path/sidewalk.

> The school district agrees to maintain the sidewalk path area for snow removal and repairs on this joint venture. Finance Committee agrees to move forward with this sidewalk installation project with BESD#53.

Discussion: C Enterprise Fleet Truck Orders for FY25 Budget Consideration

> Mrs. Latz stated the Enterprise rep reached out to her notifying us they have two General Motors Chevy Silverado heavy duty trucks available to order in their 2024 factory order window (on Board Docs). The concern of them not being in this FY24 budget was discussed and Enterprise stated if the trucks come in February (lead time is expected to be 5 months to build), Enterprise will hold them until May for our next budget year. A 5-year lease term would be at a cost of $895/month. They are requesting a response by next week to place the order.

> We are still waiting to hear back to see if these trucks fall under the maintenance program like with what we have with the smaller fleet pickup trucks. Enterprise will take our old trucks and sell them on auction and we will receive the proceeds.

Finance Committee agrees to move forward with ordering these two heavy duty trucks from Enterprise.

Discussion: D. IGFOA Conference Expenses for Approval

> Mrs. Latz stated she and Mrs. St. Germaine would like to attend the IGFOA Annual Finance conference in Peoria, September 17-19, 2023 (on Board Docs).

Finance Committee agrees to move forward with legislation for the next Regular Board meeting on August 7, 2023.

Discussion: E. APA Conference Expenses for Approval

> Ms. Cyr stated she and Mrs. Goodrich would like to attend the annual American Planning Association state conference in Naperville, September 11-13, 2023 (on Board Docs).

Finance Committee agrees to move forward with legislation for the next Regular Board meeting on August 7, 2023.

Discussion: F. Police Training Expenses for Approval

> Chief Phelps stated Patrolman Fajdich would like to attend the next course in the ongoing firearms instructor training class held in Champaign, August 28 - September 1, 2023 (on Board Docs).

Finance Committee agrees to move forward with legislation for the next Regular Board meeting on August 7, 2023.

Discussion: G. FY23 Year End Operating Results

> Mrs. Latz went over the April Operating results that ended Fiscal Year 2023 (on Board Docs). 

> Revenues and Expenditures were explained by line item and a summary was given for the past 12 months. 

> Total Revenue for FY23 budget purposes $16,363,644.28 (backed out Campus bond proceeds). 

> Total Expenditures for FY23 budget purposes $16,253,832.07 (backed out capital & ARPA expenditures spent from prior year monies). The year ended April 30, 2023 and we had an excess of revenues over expenditures of $109,812.21 after consideration of the campus bond proceeds and prior year monies spent this year.

5. Old Business - None

6. New Business - None

7. Public Comments - None

8. Executive Session - Not applicable

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 4:50 PM. Final Resolution: Motion Carried

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

https://go.boarddocs.com/il/vobil/Board.nsf/files/CUJGTG4530E8/$file/2023-08-02%20Finance%20Minutes%20for%20Approval.pdf