WILMETTE PARK DISTRICT
Financial Planning & Policy Committee
Tuesday, March 21, 2017
6:30 p.m. – Admin Conference Room
Commissioners: Chair Anderson, Abbott and Pellaton
Staff: Executive Director Wilson, Superintendents Eppelheimer, Lambrecht and Bingham, Managers Holloway and Flynn.
I. Meeting Called to Order
Meeting was called to order at 6:36 p.m.
II. Approval of Minutes
A. Commissioner Abbott moved and Commissioner Pellaton seconded a motion to approve the February 27, 2017 meeting minutes. There was a recommended change to clarify the surplus variance to the total year budget. After a short discussion the amended minutes were approved. All voted yes; motion carried.
III. Communication and Correspondence
IV. Recognition of Visitors
Chris Lewis, Board Candidate. Attendance Sheet will become part of the permanent record.
V. Unfinished Business
A. Purchasing Policy
Superintendent Eppelheimer reviewed the draft purchasing policy. The Committee suggested stronger controls in the establishment and use of vendors by staff. We continue to look at the accounting system to see if an approval control can be established for a new vendor. Staff will make the discussed changes to the policy and have it ready for review at the April Committee meeting. Additional discussion was held regarding the ongoing review of the District’s policies and procedures. Staff will bring a recommended approach to this review to the next meeting. No action was required by the Committee.
B. ADA Transition Plan Update
Updated information was supplied regarding the existing and required funding of ADA improvements. This funding will be updated with information from the 2016 CAFR. Individual park plans are not complete so this item was tabled until the next Committee meeting.
VI. New Business
A. Bond Compliance Report
Superintendent Eppelheimer reviewed the annual Bond Compliance Report. Prior bond ordinances require the compliance officer to review and report on any actions out of compliance. All actions were found in compliance and no inquiries have been initiated by the Internal Revenue Service. The Committee accepted the compliance report.
B. 2016 Financial Audit (Verbal Update)
Superintendent Eppelheimer reported that the District received a draft audit this week. There were adjusting entries which will be made to the District’s accounting records. There were three new Management Letter comments with the latest comment regarding new GASB reporting requirements regarding post-employment benefits other than pensions. The District ended with a $1.6 million surplus and a fund balance of $6.266 million. Lauterbach and Amen plan to be at the April meeting to present the Comprehensive Annual Financial Report. There was some discussion on the post audit reporting requirements. No action was required by the Committee.
VII. Next Meeting
The next meeting is scheduled for April 24, 2017 at 6:30 p.m.
There being no further business to conduct, the meeting was adjourned at 7:03 p.m.