Kankakee Times

Village of Bourbonnais Finance Committee met Oct. 2.

Here are the minutes provided by the committee:

1. Meeting Opening

Meeting called to order at 4:24 PM by Trustee Randy King

Procedural: A. Roll Call - Trustee Randy King

Members present: Mayor Paul Schore, Trustee Bruce Greenlee, Trustee Randy King, Trustee Jack Littrell, and Trustee Angie Serafini. Also in attendance, Treasurer Ron Riebe, Attorney Patrick Dunn, Administrator Michael Van Mill, Finance Director Tara Latz, Assistant Finance Director Holly St. Germaine, Public Works Superintendent Terry Memenga, Public Works Assistant Superintendent Frank Triveline, Commander Jason Sztuba, HR Manager Sue Pranskus, Admin Assistant Nicole Meredith, and Exec Admin Assistant Margie Beach. Absent: Trustee Rick Fisher and Trustee Jeff Keast

2. Review and Approve Committee Minutes

Action, Minutes: A. Finance Committee Minutes from September 11, 2024

Motion by Trustee Jack Littrell, second by Trustee Bruce Greenlee to approve the Finance Committee minutes from September 11, as presented.

Final Resolution: Motion Carried

Aye: Trustee Bruce Greenlee, Trustee Randy King, Trustee Jack Littrell, and Trustee Angie Serafini

3. Bill Lists

Accounts Payable: A. General Fund

> Questions were discussed and answered by Finance Director Tara Latz, Superintendent Terry Memenga, and Executive Admin Assistant Margie Beach regarding the bill list. 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, October 7, 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, October 7, 2024

4. Other Business

Discussion: A. Building Department Training Requests

> Mrs. Latz explained building department is requesting training courses in Elgin at the Building & Fire Code Academy. Paul Hafner will be attending two classes and Eric Cyr will be attending one class. There are funds remaining in the building department training line budget for these expenses.

Finance Committee agrees to these classes, and Resolutions will be created for the next meeting Regular Board meeting on Monday, October 7, 2024.

Discussion: B. FY24 Annual Treasurers Report

> Mrs. Latz explained there is a state statue that is required to annually post a treasurers report which reports the cash receipts and disbursements of the Village. The Annual Treasurer's Report for Fiscal Year ending April 30, 2024 (on Board Docs) will be in the Daily Journal this coming weekend.

> Mrs. Latz also provided numbers from the Treasurer's Report and compared it to the Appropriations Ordinance which was passed for FY24, which shows we are in compliance.

Discussion: C. July/August Operating Results>Mrs. Latz provided information on the July and August Operating results for FY2025 (on Board Docs)

> Revenues and Expenditures were explained in a memo and details were provided by line items for 4 months into the fiscal year.

> Total Revenue for FY25 budget purposes for the first 4 months is $3,898,484.45

> Total Expenditures for 4 months $4,091,354.01 (less prior year capital expenditures made from prior year monies - Campus Bond, GO Bond and ARPA).

Explanation was given on the total excess of Expenditures over Revenues on an accrual basis of accounting.

Expenditures over revenues of $192,869.56, after consideration of the figures shown above.

> Mrs. Latz announced we have received $3M DCEO Grant from the State of Illinois for the campus project.

5. Old Business - None

6. New Business - None

7. Public Comments - None

8. Executive Session

Action, Procedural: A. 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. 5 Ill. Comp. Stat. Ann. 120/2(C)(2).

Motion by Trustee Randy King, second by Trustee Jack Littrell at 4:40 PM 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. 5 Ill. Comp. Stat. Ann. 120/2(C)(2).

Final Resolution: Motion Carried

Aye: Trustee Bruce Greenlee, Trustee Randy King, Trustee Jack Littrell, Trustee Angie Serafini

Action, Procedural: B. Return to the Finance Meeting

Motion by Trustee Bruce Greenlee, second by Trustee Angie Serafini to exit the Closed Session and return to the Finance Meeting at 5:10 PM.

Final Resolution: Motion Carried

Aye: Trustee Bruce Greenlee, Trustee Randy King, Trustee Jack Littrell, and Trustee Angie Serafini

9. Adjournment and Time

Action, Procedural: A. Adjournment & Time

Motion by Trustee Jack Littrell, second by Trustee Bruce Greenlee to adjourn the Finance meeting at 5:10 PM.

Final Resolution: Motion Carried

Aye: Trustee Bruce Greenlee, Trustee Randy King, Trustee Jack Littrell, and Trustee Angie Serafini

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