WILMETTE PARK DISTRICT
Financial Planning & Policy Committee
Meeting Minutes
Monday, April 25, 2016
6:30 p.m. – Village Hall Training Room


Attendees

Commissioners: Chair Abbott, Anderson, Pellaton

Staff: Executive Director Wilson, Superintendents Eppelheimer, Bingham and Bowen, Manager Holloway

Committee Members Absent

None

I. Meeting Called to Order

Meeting was called to order 6:32 p.m.

II. Approval of Minutes

A. Commissioner Pellaton moved and Commissioner Anderson seconded a motion to approve the minutes of February 22, 2016 Financial Planning & Policy Committee meeting. 

The minutes were approved with the following change from Commissioner Anderson; on Page 2 of 3, Section IV. B. Sentence 7 should read: Commissioner Anderson raised the issue that the District should consider used equipment when practical. All voted yes; motion carried.

III. Communication and Correspondence

None

IV. Recognition of Visitors

Park District Staff

V. Unfinished Business

A. 2015 Financial Audit

Superintendent Eppelheimer commented that the auditors put together the final pieces of the financial reports. There were two Audit Management Letter comments; one: funds not in compliance with our District policy, minor amounts that can be corrected before year end 2016; and two: funds over budget, we use the budget amount as our method of management and the appropriation amount to provide flexibility in overall spending.  Neither are major issues and the Management Letter is a communication from the Auditors to the Board.  This will be included on the Agenda for next meeting. Lauterbach & Amen will present the CAFR.  No action was taken by the Committee at this time.

B. Fixed Asset Physical Inventory Results

Superintendent Eppelheimer highlighted and presented the inventory results. He explained that anything over $5,000 in value and life of more than one year becomes an asset. The procedure for AssetWorks was to inventory everything that the District has and pulling items off that did not meet the asset policy. The final and detail reports have been provided to Lauterbach and Amen for use in the 2015 CAFR. The completion of the Fixed Asset Physical Inventory clears an item from the Audit Management Letter. No action was taken by the Committee.

C. Professional Services Review

Commissioner Abbott commented that this topic was discussed in previous meetings. Commissioner Anderson commented that you have to consciously go out and create opportunities to find service vendors. This needs to be done proactively. The Committee discussed the spreadsheet for professional services that are being provided to the District at this time. For Banking Services the District will initiate an RFP process for this service. Superintendent Eppelheimer commented that if the District goes out for an RFP the current rates at Chase may go up. The Committee discussed the recommended frequency of reviewing professional services. Commissioner Anderson commented that for banking services it could be 2-3 years based on changes in the banking industry happening so often. He suggested 3-4 years.  

The Committee discussed professional service for Investment Manager. Superintendent Eppelheimer said Staff is working on the RFP process. Superintendent Eppelheimer commented that state statute requires an RFQ for all professional services on qualifications they can offer.  You then perform an evaluation before pricing is discussed. The Committee would like Staff to find out if the District’s attorney’s billable rate is comparable with others. Commissioner Anderson asked if there could be an average spent column over the last 2-3 years which could help with prioritizing the service list.

The Committee discussed the Health Insurance Cooperative, PDRMA Health. Commissioner Anderson commented that the rate increase from year to year is unsustainable. Superintendent Eppelheimer stated that PDRMA is a pooled concept for health insurance and he thinks they would require a letter by the end of this year if the District was going to make a change. The Committee would like Staff to look at an alternative or two for comparison.  No action was taken by the Committee.

VI. New Business

A. Review Results of 2015 Property Tax Appeal Board (PTAB)

Superintendent Eppelheimer commented that the District’s legal fees are approximately $1,500 to $1,800 per year on these matters. These matters take years to finalize. Superintendent Eppelheimer stated that the District almost always intervenes due to savings that can be gained.  Commissioner Anderson believes the savings percentages are a little high since the appellant probably does not receive the assessed reduction they seek at the beginning of the process if no one intervenes.  No action was taken by the Committee.

B. Disclosure Compliance Resolution – 2016-R-2

Superintendent Eppelheimer commented on the compliance policy since it is referenced in the bond ordinances. The District reports annual financial information to a variety of agencies. This Resolution will formalize the Districts reporting practices and policy. The Policy would assign reporting duties to the Board Treasure or the Superintendent of Finance and Personnel. The Committee discussed a few minor changes that Superintendent Eppelheimer will research and amend.

Commissioner Anderson moved and Commissioner Pellaton seconded to recommend that the Disclosure Compliance Resolution 2016-R-2, as amended be approved by the full Board; all agreed.

C. Surplus Ordinance – 2016-O-9, Miscellaneous Electronic Equipment

The Committee discussed the surplus of electronic equipment and the proper disposal procedures. Superintendent Eppelheimer commented that it is difficult to find a vendor to pick up and properly dispose of equipment. The cost will depend on the quality and pounds. The disposal cost will be $987 for this equipment.

Commissioner Pellaton moved and Commissioner Anderson seconded to recommend that the Surplus Ordinance 2016-O-9 be approved by the full Board; all agreed.

D. Overhead and Capital Transfers

Superintendent Eppelheimer commented that overhead charges and capital transfers give staff an idea to better set the fee structure for programs and facility use. Commissioner Abbott would like to see a report based on capital transfers and expenditures in the past, facility by facility. The Committee believes an overhead study based upon square footage, percentage of operating costs or headcounts should be performed.  Staff had planned to perform such a study to adjust the overhead charges.  No action was taken by the Committee.

E. 1st Quarter 2016 Financial Results

Superintendent Eppelheimer reported on the 1st Quarter 2016 Financial results as outlined in the report. The Committee discussed some line items in the report for clarification.

F. Pending Further Discussion – Drone Policy

Director Wilson reported that Staff is working with the FAA and PDRMA at this time and will report back to the Committee after researching this further.

VII. Next Meeting

The next meeting is scheduled for May 23, 2016 at 6:30 p.m.

VIII. Adjournment

There being no further business to conduct, the meeting was adjourned at 8:03 p.m.