Financial Planning & Policy Committee
Meeting Minutes
Monday, November 28, 2016
6:30 p.m. – Village Training Room

Commissioners: Chair Anderson, Abbott and Pellaton

Staff: Executive Director Wilson, Superintendents Eppelheimer, Bingham, Bowen and Lambrecht, Manager Holloway
I. Meeting Called to Order
Meeting was called to order at 6:40 p.m.

II. Approval of Minutes
A. Commissioner Abbott moved and Commissioner Pellaton seconded a motion to approve the October 24, 2016 meeting minutes.  All voted yes; motion carried.

III. Communication and Correspondence

IV. Recognition of Visitors

V. Unfinished Business

VI. New Business

A. Tax Levy Report

i. 2016 Tax Levy Ordinance 2016-O-13
Superintendent Eppelheimer presented an overview of the 2016 tax levy. Staff was recommending the amounts outlined in the Truth-in-Taxation resolution.  The Committee discussed the special recreation fund levy considering there may be an increase in the 2016 Equalized Assessed Valuation.  Since there continues to be ADA improvements at all the parks and facilities of the District (estimated to be nearly $1 million remaining to be completed over multiple years), it was felt that raising this portion of the levy could help move these projects along.  There was discussion on the impact to the total levy (overall increase of 1.94% versus the current 0.13%) and how any overages to the ceiling rate are handled. The county will calculate up to the ceiling rate and then reduce the levy dollars in this fund.  It was recommended to increase the Special Recreation tax levy by $144,000 to $769,000 and to bring this to the other Board members for discussion at the December 7th Committee of the Whole meeting.  It was also recommended that staff reach out to the local media that had reported on November 15th about the T-I-T resolution.  The Committee recommended Ordinance 2016-O-13 be approved by the full Board subject to the COW discussion.

ii. 2016 Tax Reduction Resolution  2016-R-4
Superintendent Eppelheimer reviewed the purpose of the reduction resolution.  This resolution directs Cook County to reduce the Corporate levy if the calculation of the limiting rate requires a reduction to the aggregate tax capped funds.  Otherwise the County would reduce each levy by an appropriate percentage to arrive at the tax capped figure.  The Committee recommended Resolution 2016-R-4 be approved by the full Board.

B. 2016 Audit Services
Superintendent Eppelheimer presented the Lauterbach & Amen, LLP engagement letter for the audit of the District’s financial records for the year ending December 31, 2016.  The engagement letter included a three year commitment by keeping fees to an increase of 3% each year after a reduction of 5% for 2016.  The Committee recommended acceptance of the L&A engagement letter for 2016, 2017 and 2018 review of financial records by the full Board.  Separate engagement letters will be reviewed for each year.

C. IAPD Research Survey
Superintendent Eppelheimer reviewed the research document highlighting that only 35% of the District’s employees live in the District (versus a state wide average of 61%) and a District revenue model that relies on 21% of funding from taxes (versus a state wide average of 48%).  There was discussion on why we did not have more in-District employees and if we should try to increase this result.  It is more a function of finding the best staff for all our positions, including part-time.  No action was required by the Committee.

VII. Next Meeting
The next meeting is scheduled for January 23, 2017.

VIII. Adjournment
There being no further business to conduct, the meeting was adjourned at 7:27 p.m.