Kankakee Times

Village of Bourbonnais Finance Committee met March 27.

Here are the minutes provided by the committee:

1. Meeting Opening

Meeting called to order at 4:32 PM by Trustee Rick Fischer

Procedural: A. Roll Call - Trustee Rick Fischer

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

2. Review and Approve Committee Minutes

Action, Minutes: A. Finance Committee Minutes from March 13, 2024

Motion by Trustee Jeff Keast, second by Trustee Angie Serafini to approve the Finance Committee minutes from March 13, 2024, as presented.

Final Resolution: Motion Carried

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

3. Bill Lists

Accounts Payable: A. General Fund

> Questions were discussed and answered by Mr. Memenga and Mrs. Latz.

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, April 1, 2024.

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, April 1, 2024.

4. Other Business

Discussion: A. Spring TIF Conference Travel Request

> Mrs. Latz went over a request for herself and Administrator Van Mill to attend the annual spring TIF conference that will occur in Springfield, which is to occur on May 1-3, 2024. This year it is a combined conference with the Illinois Enterprise Zone, so there are some additional topics and knowledge to gain.

Finance Committee agrees to allow Mr. Van Mill and Mrs. Latz to attend the TIF conference, and legislation will be created for the next Regular Board meeting on April 1, 2024.

Discussion: B. January/February Operating Results

> Mrs. Latz went over the operating results for January and February 2024. A report and memo were provided with information on revenues and expenditures for the past two months (on Board Docs). Bank balances were also available for the quarter.

Total Revenue at the end of February, 10 months of fiscal year was $11,525,043.42

Total Expenditures, 10 months of fiscal year was $12,507,294.42 (less large capital expenses being spent currently from revenue received in prior years). Expenditures over revenues at this time of the year, which is mainly due to 100% of bond payments already being made, is $982,251. Reminder we did receive $1.1M in May and June from last year that isn't in this report since it is an accrual, not cash basis, report.

> Mrs. Latz stated she will present a draft budget for FY25 at the next Finance meeting.

Discussion: C. ARPA Update

> Mrs. Latz gave an update on the Village's ARPA funds (on Board Docs). There is a list of items/projects already completed along with a few projects that have been approved and allocated which are still in process. An estimate for now is being set aside for the ADA vestibule/door project until we can get a better number once the architect design is done. At this time an estimate of $2.3M has been already spent or allocated from ARPA funds, which leaves around $300,000 remaining to be used at a later date.

Discussion: D. Public Works FY25 Capital Request

> Mr. Memenga explained an opportunity came from Hove Nissan regarding a used 2019 Chevrolet Silverado diesel 4WD small dump truck with 40,000 miles to use for a landscaping truck and would replace an over 30 year old truck (on Board Docs). Mr. Memenga requested Hove to hold onto it until he was able to discuss with the Board, and Hove also agreed to hold onto it until the new fiscal year for purchase. Public Works mechanics gave it a test drive and overlook in the shop and agreed it was in good shape, looking at a cost of $48,173. The plan is to eliminate a 1991 dump truck and put up for auction.

> Mayor Schore requested a Car Fax or Blue Book value on the 2019 truck.

Finance Committee agreed to move forward with the purchase of a 2019 Chevrolet Silverado truck in the 2025 fiscal year, and legislation will be created at a later date.

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 4:57 PM. Final Resolution: Motion Carried

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

https://go.boarddocs.com/il/vobil/Board.nsf/files/D3XRNN685786/$file/2024-03-27%20-%20Finance%20Mtg%20Minutes%20for%20Approval.pdf