Financial Planning & Policy Committee
Meeting Minutes

Date:   May 29, 2013

Location:  Village Training Room

Time:  6:30 p.m.

Committee:  G. Benz, Chair J. Olvany
Board Members: None
Staff:  S. Wilson, J. Bowen, K. Eppelheimer, S. Donoghue 
Guests: Ron Amen, Partner, Lauterbach & Amen, CPAs

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. Adjournment

Discussion Items

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

2) The Committee approved the minutes of April 29, 2013 as presented.

3) Communications and Correspondence – None

4) Recognition of Visitors – Ron Amen of Lauterbach & Amen, CPAs was recognized.

5) Old Business

     a. Personnel Policy Manual – This item was deferred until the June 24th Committee meeting.

     b. IMRF Update – Superintendent Eppelheimer began the discussion by summarizing recent IMRF Employer Rate meetings and information supplied by Moody’s Investor Services in their new rating methodology.  Chair Olvany pointed out that IMRF reports its overall funded rate which includes the annuitant reserves, but presents the individual agency funded rate with only active and inactive members.  This difference results in a higher overall IMRF funded rate and a lower individual agency funded rate, in the Park District’s case the funded rate would go from 68.4% to 81.2%.  There was some discussion on what Moody’s would use for its evaluation methodology.  The overall result is something similar to long term debt.  There was no action required by the Committee at this time.

     c. Evanston Wilmette Community Golf Course Association (EWCGCA) – Chair Olvany updated the Committee on discussions with EWCGCA representative and his attendance at a recent EWCGCA Board meeting.  It was affirmed that although the Association was short on cash, fund raising was allowing them to make monthly water payments to the Wilmette Park District and the City of Evanston.  EWCGCA stated that the course has not had to use water this year.  Chair Olvany said the EWCGCA was asking that additional funds requested to cover 2013 water bills be waylaid.  EWCGCA also indicated they wanted to work directory with the Village of Wilmette.  This was discussed but it was felt the current process was preferred.   Commissioner Benz felt that some type of additional funds should be provided for 2013 water bills since they will use water this year and we should not allow them to get behind again.  Follow-up included staff to look at the figures and see what kind of proposal could be made; staff will review recent EWCGCA financial statements; and staff is to identify the locations of the water meters.  There was no action needed by the Committee at this time.

6) New Business
     a. Discussion of Draft 2012 Comprehensive Annual Financial Report – Chair Olvany called on Ron Amen of Lauterbach & Amen.  Mr. Amen proceeded to direct the Committee to the Management Letter as the most important items for discussion were contained there.  He is involved in over 100 audits a year and attends about 70 meetings.  He does not like to report on problems he sees at the Wilmette Park District.  Although he is issuing an unqualified opinion, he feels the processes around the account and bank reconciliations must be fixed immediately.  The Committee asked staff for their comments and how they would proceed to correct the process.  Additional funding will be needed, but felt it would be nominal.  Mr. Amen covered the other items in the Management Letter including journal entry review, GASB Statement Implementation, fund balance journal entries, and the implementation of GASB 61 on financial reporting entities.  Finally Mr. Amen covered the comment from prior management letters that had not been properly addressed including compliance with fund balance policy, gift certificate policy, capital asset policy and bank reconciliations.  The Committee wanted a status of the corrections on the Committee agenda until fixed and invited Mr. Amen to return in September with a status report.  The Committee recommends that the 2012 CAFR be accepted by the full Board.

     b. Prevailing Wage Ordinance 2013-O-4 – Superintendent Eppelheimer presented information on the requirements for the passage of the annual prevailing wage ordinance including steps taken by staff each year in accordance with the prevailing wage statute.   There was concern that this action causes projects to cost more to government agencies, but very difficult to change due to the process and the overview by the Illinois Department of Labor.  The Committee recommends Ordinance 2013-O-4 be approved by the full Board. 

     c. Press Release on the Ouilmette Foundation – Executive Director Wilson requested addition of this agenda item and presented a draft press release calling for Foundation volunteers.  After some discussion, the Committee thought the process of seeding the Foundation Board could be followed by the call for volunteers since there will be some set-up activities to be resolved in order to file applications.  There was no action required by the Committee at this time. 

7) Adjourn to Closed Session – A motion was made by Commissioner Benz and seconded by Commissioner Olvany to adjourn to a closed session for the purpose of the appointment, employment, compensation, discipline, performance or dismissal of specific employees of the District per Section 2(c)(1) of the Open Meetings Act.  On a roll call vote, the Committee adjourned at 8:30 p.m.

8) On a motion and a roll call vote, the Committee reconvened at 8:36 p.m.

     a. Consideration of Action, if any, of items discussed in Closed Session – The Committee recommended inclusion of the Administration incentive program from Communications and Finance regarding the reduction of the number of Leisure Guides and use of a different supplier for legal notices for $5,847.

9) Next Meeting – The next meeting is scheduled for June 24, 2013 at 6:30 p.m. at the Administration Office.

10) Adjournment – With no further business to discuss, the Committee adjourned at 8:37 p.m.

Minutes were taken by Ken Eppelheimer.