Financial Planning & Policy Committee
Meeting Minutes

Date:   January 28, 2013

Location:  Administration Office
Time:  6:30 p.m.

Committee: G. Benz, Chair J. Olvany
Absent: D. Graham
Commissioners: M. Murdock
Staff: S. Wilson, K. Bingham, J Bowen, K. Eppelheimer
Visitors: Bryan Abbott and Amy Wolfe, Board Candidates

Agenda Topics:

1. Call to Order
2. Approval of Minutes
3. Communications and Correspondence
4. Recognition of Visitors
5. Old Business
6. New Business
7. Next Meeting
8. Adjourn

Discussion Items

1) The meeting was called to order at 6:30 pm.

2) The Committee approved the minutes of October 22, 2012 as presented.

3) Communications and Correspondence – None

4) Recognition of Visitors – Park Board Candidates were recognized.

5) Old Business

     a. General Obligation Limited Tax Park Bond Issue – Superintendent Eppelheimer reviewed options for the issuance of the District’s remaining Debt Service Extension Base (DSEB). The Committee discussed issuance costs and the need for the funding of the five-year capital plan and decided to recommend a three-year issuance of about $920,000. A bond ordinance and supporting documentation will be prepared for the February 11th Board Meeting.

     b. Evanston Wilmette Community Golf Course – Verbal Update – Executive Director Wilson discussed a conversation he had with the new EWCGCA Board President and how they planned on satisfying their outstanding water bills. The EWCGCA is expecting, with the new Board, to be more proactive and has asked that the Park District assign a representative to the EWCGC Board. Executive Director Wilson will continue to monitor the situation and keep the Committee/Board appraised.

     c. Update on Ouilmette Foundation – Verbal Update – Superintendent Eppelheimer updated the Committee on the reinstatement of the Foundation’s 501(c)3 status. There was discussion on the timing of reviewing the By-Laws and Mission of the Foundation. Superintendent Eppelheimer will continue efforts to reinstate the not-for-profit status and then the methodology can be addressed by the Committee.

6) New Business

     a. 2012 Capital Plan Carry-Over Project List – Superintendent Eppelheimer presented recommendations on the 2012 capital carry-over list. He outlined the ongoing, pending and deferred projects from the year-end Capital Improvement Project recap. Staff believes the projects listed are important to either complete, as expenditures have been started (ongoing), or are still important to engage in during the coming year (pending and deferred). These projects were appropriated in prior fiscal years but a Board action will ensure funding into the new fiscal year. The Committee recommended that the 12 carry-over projects totaling $513,777 be approved by the full Board. There were also comments commending staff on the completion of 42 projects that are worth $1.5 million and within 3.9% of the project estimates.

     b. 4th Quarter Financial Statements – Superintendent Eppelheimer presented the fourth quarter financial review with favorable results through December 31. The unaudited results show a surplus of over $385,000 with a substantial capital improvement plan.  Comparisons of actual to prior-year actual, current budget and the 2012 projection amounts used in the 2013 budget development were also presented. Surplus from operations was 9% higher than 2011 because of tax collections as well as a very good summer season for programs. Available cash funds were in excess of $9 million. Chair Olvany had praise for the business units and their financial positions for the 2012 fiscal year. There was no action required by the Committee.

     c. Personnel Policy Manual – Revised – Superintendent Bowen summarized the many changes made to the Personnel Policy Manual. The review covered each section of the manual and identified items that were added because of changes in the law or revisions to reflect the District’s practices. This was an introduction to the manual and it was expected that the Committee would have a chance to review the manual over the next couple of months. There was no action required by the Committee.

7) Next Meeting – The next meeting is scheduled for February 25, 2013.
8) Adjournment – With no further business to discuss, the Committee adjourned at 7:33 p.m.

Minutes taken by Ken Eppelheimer