Kankakee Times

Village of Bourbonnais Finance Committee met Aug. 30.

Here are the minutes provided by the committee:

1. Meeting Opening

Meeting called to order at 4:06 PM by Rick Fischer

Discussion: A. Roll Call - Trustee Rick Fischer at 4:06 PM

Members present: Mayor Paul Schore (on Zoom), Trustee Bruce Greenlee, Trustee Rick Fischer, Trustee Jeff Keast, Trustee Jack Littrell, and Trustee Angie Serafini. Also in attendance, Treasurer Ron Riebe, Attorney Patrick Dunn, Administrator Michael Van Mill, Assistant Administrator Laurie Cyr, Finance Director Tara Latz, Chief Jim Phelps, Engineer Mike Gingerich, Marketing Manager Lindy Casey, Interim Public Works Assistant Superintendent Frank Triveline, and Admin Assistant Margie Beach. Absent: Trustee Randy King

2. Review and Approve Committee Minutes

Action, Minutes: A. Finance Committee Minutes from August 16, 2023

Motion by Trustee Jeff Keast, second by Trustee Jack Littrell to approve the Finance Committee minutes from August 16, 2023 as presented.

Final Resolution: Motion Carried

Aye: Trustee Bruce Greenlee, Trustee Rick Fischer, 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 Mr. Triveline.

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 September 5, 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 September 5, 2023.

4. Other Business

Discussion: A. Republic Services Billing Update

> Mrs. Latz gave an update on the Republic Services billing update. Reminder the Village gave a discount for two years towards residents' garbage fees using $750,000 of ARPA funds. The Board agreed to end this discount program since ARPA funds are no longer available. We have requested Republic Services to update the bills, and for them to send out a letter to residents prior to the October invoice where the annual increase occurs on garbage rates. The Village helped them compose this letter which is supposed to be mailed out this week explaining the increase. > Mrs. Casey will be sending out a press release later today as well explaining the new billing amounts.

Discussion: B. TIF Extension Update

> Mrs. Latz gave an update on the progress we have made getting support for extending the Industrial TIF for another 12 years (on Board Docs). We will have full unanimous support from the 15 taxing bodies for this extension. The next step is for this extension request to go to Springfield in October during the fall session and presented/sponsored by Senator Joyce and Representative Haas.

Discussion: C. T. Goodrich Fall Semester Classes for Approval

> Mrs. Latz gave an update that Mrs. Goodrich is starting the final year to obtain her college degree, and discussed her tuition reimbursement plan for the Fall 2023 semester (on Board Docs). Once she finishes the classes and submits her passing grades she will then be reimbursed.

Finance Committee agrees to this educational tuition reimbursement request.

Discussion: D. May/June 2023 Operating Results

> Mrs. Latz provided information on the May and June Operating results for FY2024. Property tax monies are not included yet as the first disbursement does not come until July.

> Revenues and Expenditures were explained in a memo and details were provided by line items for the two months into the fiscal year on Board Docs.

> Total Revenue for FY24 budget purposes for 2 months is $772,632.20; Total Expenditures for 2 months $2,356,155.53 (less prior year monies from capital and ARPA funds).

> Operating in General Fund FY24 at the end of June is upside down on expenditures over revenues, once we receive the property tax disbursement the numbers will even out in the July report.

> Explanation was given on the total excess of Expenditures over Revenues on an accrual basis of accounting. Reminder funds were received in May and June for State tax revenues that pertain to last fiscal year, and do not appear on this report.

Discussion: E. Other

> Attorney Dunn passed out his revision of the proposed Easement Agreement between BESD 53 and the Village of Bourbonnais on the property at Liberty School sidewalk path.

> Attorney Dunn asked the Board to review and he will then present to the school district's attorney for review. Finance Committee will review and discuss this revised Easement Agreement at an upcoming meeting. 

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 Jack Littrell, second by Trustee Angie Serafini to adjourn the Finance Meeting at 4:31 PM. Final Resolution: Motion Carried

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

https://www.k3county.net/AgendaCenter/ViewFile/Agenda/_09272023-1945