Kankakee Times

Village of Bourbonnais Finance Committee met Feb. 26.

Here are the minutes provided by the committee:

1. Meeting Opening

Meeting called to order at 4:00 PM by Trustee 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 (arrived at 4:11 PM). Also in attendance, Treasurer Ron Riebe, Attorney Patrick Dunn, Administrator Michael Van Mill, Finance Director Tara Latz, Interim Police Chief Dave Anderson, Public Works Superintendent Terry Memenga, Public Works Assistant Superintendent Frank Triveline, Assistant Finance Director Holly St. Germaine, and Deputy Clerk Margie Beach. Absent: Trustee Jack Littrell.

2. Review and Approve Committee Minutes

Action, Minutes: A. Finance Committee Minutes from February 12, 2025

Motion by Trustee Jeff Keast, second by Trustee Randy King to approve the Finance Committee minutes from February 12, 2025, as presented.

Final Resolution: Motion Carried

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

3. Bill Lists

Accounts Payable: A. General Fund

> Questions were discussed and explained by Mr. Memenga, Interim Chief Anderson and Mrs. Latz.

> Trustee Fischer stated the Little League Board at Slater Field is behind 6 months on their payments for their portion of the electric bill, and Mrs. Latz has been in discussion with one of the new Board members regarding this issue.

The General fund bill list was reviewed and the Finance Committee agreed to proceed with payment of the bills at the Regular Board meeting on March 3, 2025.

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 Regular Board meeting on March 3, 2025.

4. Other Business

Discussion: A. November 2024 - January 2025 Operating Results

> Mrs. Latz provided information on the November - January Operating quarterly results for FY25 (on Board Docs).

> Revenues and Expenditures were explained in a memo and details were provided by line items for 9 months into the fiscal year. One highlight includes a receipt of M&J payment per our agreement, which is now finalized.

> Total Revenues for FY25 budget purposes for the 9 months is at $12,245,769.63 less the DCEO campus grant that was received, Total Revenue for FY25 Budget Purposes is $9,245,769.93.

> Total Expenditures for 9 months is at $15,827,313.09 (less capital expenditures made from prior year monies - $4,916,399.32 and ARPA funds $488,576.60 = $10,422,337.17).

Explanation was given on the total excess of Expenditures over Revenues on an accrual basis of accounting is $3,581,543.46, this excess shrinks to $1,176,567.54 after consideration of prior year monies being spent this year, along with a total of $1,218,204.65 received in May and June for State tax revenues that do not appear on this report.

Discussion: B. Other

> Deputy Clerk Margie Beach requested the Board's permission to place two Resolutions on the next Regular Board meeting to get approval and send to Illinois Department of Transportation to close roads for the Friendship Festival's children and grand parades June 27 & 29, 2025.

> Trustee Fischer announced the next Finance Meeting on March 12 will need to begin at 3:30 PM due to the annual St. Patrick's Day dinner for the seniors at Quality Inn that begins at 5:00 PM.

5. Old Business - None

6. New Business

Information: A.

> Attorney Dunn gave an update on the IUOE contract - he has almost completed the draft with revisions, one thing remaining to put on paper is the VEBA language, once the language is approved by the Management Team, it will be sent to the Union members for their approval, then it will be brought to the Board for final approval at an upcoming Regular Board meeting.

7. Public Comments - None

8. Executive Session - Not applicable.

9. Adjournment and Time

Action, Procedural: A. Adjournment & Time

Motion by Trustee Bruce Greenlee, second by Trustee Jeff Keast to adjourn the Finance Meeting at 4:16 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/DEASAS71C6C1/$file/2025-02-26%20Finance%20Minutes%20for%20Approval.pdf