Kankakee Times

Village of Bourbonnais Finance Committee met May 14.

Here are the minutes provided by the committee:

Meeting called to order at 4:00 PM by Trustee Rick Fischer

1. Meeting Opening

Procedural: A. Roll Call - Trustee Rick Fischer

Members present: Mayor Jeff Keast, Trustee Bruce Greenlee, Trustee Rick Fischer, Trustee Randy King, and Trustee Angie Serafini. Also in attendance, Attorney Patrick Dunn, Administrator Michael Van Mill, Assistant Administrator Laurie Cyr, Finance Director Tara Latz, Police Commander Jason Sztuba, Public Works Superintendent Terry Memenga, Public Works Assistant Superintendent Frank Triveline, Assistant Finance Director Holly St. Germaine, HR Manager Sue Pranskus (arrived 4:08pm) and Deputy Clerk Margie Beach Absent: Trustee Jack Littrell and Treasurer Ron Riebe

2. Review and Approve Committee Minutes

Action, Minutes: A. Finance Committee Minutes from April 30, 2025

Motion by Trustee Angie Serafini, second by Trustee Bruce Greenlee to approve the Finance Committee minutes from April 30, 2025 as presented.

Final Resolution: Motion Carried

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

3. Bill Lists

Accounts Payable: A. General Fund

> Questions were discussed and answered by Mr. Memenga and Mr. Gingerich.

> Trustee Greenlee questioned the time frame on the widening of the Career Center Road project. Mr. Gingrich gave an update that the engineering field study of the project is 2/3 completed and should be finished in a month or two. A presentation will be given during a public meeting, then the final engineering would take about 2 years for approvals working with IDOT before we can go out for bids, will work on getting federal funding through grants, and looking at construction starting in a few years.

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, May 19, 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 next Regular Board meeting on Monday, May 19, 2025.

4. Other Business

Discussion: A. Public Works Equipment - Backhoe Quote and Financing

> Mrs. Latz stated we have been talking with Terry from Public Works about the need for a backhoe for quite some time, about a year or so, which is a major capital expense (on Board Docs).

> Mrs. Latz informed the Board that we are just finishing the financing that was done for the purchase of a street sweeper 5 years ago, we have one payment left in August, then that budget line will be freed up and it would be a good time to insert this financing arrangement for the backhoe. We are looking at financing this purchase and have spoken to several local banks, and have found the lowest rate at 4.37% for 5-years for a tax exempt municipal lease with People's Bank.

> Mr. Memenga went over the attached specs of the backhoe. He stated once documents are approved and signed it could take 90 days to get the equipment (August). We plan to trade in our 23-year old backhoe or put it on an auction website once the new one arrives.

Finance Committee agrees to move forward with this purchase and legislation will be created once the loan is acquired, and will be brought to an upcoming Regular Board meeting.

> HR Manager Sue Pranskus arrived at 4:08 PM

Discussion: B. Update of Banking Depository Ordinance

> Mrs. Latz stated we need to update our banking depository Ordinance to reflect the change in bank signers with the new Mayor's name. We currently have 3 signers, will have 4 once we add Mayor Keast to the bank accounts, and Mrs. Latz is suggesting we add another person to have a fifth signer for emergency cases only, due to many times that other signers are out of town or not reachable for signatures. It was suggested to add Administrator Michael Van Mill as the fifth signer. An Ordinance will need to be amended and updated (on Board Docs).

Finance Committee agrees to move forward with legislation to amend the current Ordinance and be approved at the next Regular Board meeting on Monday, May 19, 2025.

Discussion: C. Discussion of Sales/Grocery/Hotel Tax Model Ordinances

> Mrs. Latz explained that IML has provided information regarding the upcoming grocery sales tax changes. The State is removing the grocery tax as of December 31, 2025, and municipalities are able to replace the tax by adding their own 1% grocery tax. Mrs. Latz is suggesting to do this soon, because we will need to file our ordinance before the October 1st Department of Revenue deadline to begin this tax starting in January 2026. This replacement municipal grocery tax will begin when the State discontinues their tax.

> The Village also should consider implementing a non-home rule 1% sales tax. IML has provided a model Ordinance that can be reviewed. This could go into effect on January 1, 2026, and the IL Department of Revenue would collect and disburse this sales tax as well as the grocery tax.

> Revenue projections were discussed, and by adding this non-home rule sales tax it could bring in an extra $3M per year to the General Fund. This will greatly help with cash flow, allow us to accelerate our annual pension payments, repay the Career Center Road project borrowing, and allow for a property tax rebate to homeowners. There are other nearby communities in the County that are already collecting this tax.

> Board members and staff discussed implementing these sales taxes. Once more information is provided to the Board a decision will be made.

Finance Committee requests to table this discussion on sales taxes until the June 11, 2025 Finance meeting. There was no discussion about hotel tax at this time.

5. Old Business - None

6. New Business

Information: A. Interview of Prospective Trustee

> Mayor Keast introduced Craig Toepfer to the Board who is a candidate that is interested in being a Trustee to replace the open seat.

> Mr. Toepfer gave an overview of himself, stating he has lived in the community 13 years with his family, and provided information on his career at Comcast Business Sales, and stated he has been volunteering as the President of PTA at Bourbonnais Elementary School District.

> Questions from the Board and Administration were answered by Mr. Toepfer on their expectations and his knowledge of the responsibilities of being a Board member, along with time commitments for meetings, community events and conferences.

> Mr. Toepfer also questioned the Board and gave suggestions on what he would like to see changed at the Village.

Finance Committee will discuss this appointment to Trustee during Executive Session tonight.

7. Public Comments - None

8. Executive Session

Action, Procedural: A. Enter into Executive Session to discuss the appointment, employment, compensation, discipline, performance, or dismissal of specific employees of the public body as allowed by 5 ILCS 120/2 (c)(1).

Motion by Trustee Randy King, second by Trustee Angie Serafini Enter into Executive Session to discuss the appointment, employment, compensation, discipline, performance, or dismissal of specific employees of the public body as allowed by 5 ILCS 120/2 (c)(1) at 5:05 PM.

Final Resolution: Motion Carried

Aye: Trustee Bruce Greenlee, Trustee Rick Fischer, Trustee Randy King, and Trustee Angie Serafini Action, Procedural: B. Return to the Finance Meeting

Motion by Trustee Randy King, second by Trustee Angie Serafini to exit the Closed Session and return to the Finance Meeting at 6:19 PM.

Final Resolution: Motion Carried

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

9. Adjournment and Time

Action, Procedural: A. Adjournment & Time

Motion by Trustee Bruce Greenlee, second by Trustee Angie Serafini to adjourn the Finance Meeting at 6:19 PM.

Final Resolution: Motion Carried

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

https://go.boarddocs.com/il/vobil/Board.nsf/files/DGTQXZ6B8348/$file/2025-05-14%20Finance%20Minutes%20ready%20for%20Approval.pdf