Village of Niles Finance Committee met Dec. 4.
Here is the minutes provided by the committee:
Call To Order
Chairman George Alpogianis called the meeting to order at 8:05am.
Roll Call
Finance Director Jeff Martynowicz called the roll for Committee members:
Committee Members Present: Chairman George D. Alpogianis, Al Weel, Jack Drexler
Committee Members Absent: George Van Geem, Joseph Ori
Village Staff Present: Finance Director Jeff Martynowicz, Village Manager Steve Vinezeano, Assistant to the Village Manager Kathy Thake, Budget Analyst Conor Schultz, Assistant Finance Director Laurie Nannini, Administrative Assistant Joy Athanasiou
Old Business
None
Approval of Minutes
The regular minutes from the November 6, 2019 Finance Committee meeting were presented for approval. A motion was made and all concurred.
Accounts Payable Approval
The Accounts Payable registers for 2019-11/1, 11/8, 11/15 were presented for approval. A motion was made and all concurred.
New Business
FY 2019 Comprehensive Annual Financial Report and Audit
Finance Director Jeff Martynowicz introduced Ed Tracy from Selden Fox who gave an overview of the FY 2019 Comprehensive Financial Annual Report. Ed highlighted activity in various funds. He stated the general revenue was 3% over budget and the general expense was 2.5% under budge, noting that most departments came in under budget. After questions and discussion, a motion was made by Al Weel, seconded by Jack Drexler to present the FY 2019 Comprehensive Financial Annual Report to the Village Board. On roll call, all concurred.
Ordinance Amending Chapter 102 Utilities Section 102-127
Finance Director Jeff Martynowicz presented an amendment to Chapter 102 Utilities Section 102-127 to the Niles Code of Ordinances. This amendment would give authorization to the Village Manager and Village Attorney, in addition to the Finance Director, to send written delinquent notices on water accounts. After discussion, the Committee supported the change but requested the language be reviewed by the Village Attorney.
Update on Pension Consolidation SB 1300
Finance Director Jeff Martynowicz stated the General Assembly passed the SB1300 bill which will transfer all investment management of the Police and Fire pension funds into two separate statewide funds. The bill will save significant dollars in investment management fees. Jeff will update the Finance Committee as additional information becomes available.
Other Business
None
Public Comments
None
Executive Session
A motion was made by Jack Drexler, seconded by Joseph Ori, to move to Executive Session. On roll call, all concurred.
Adjournment
Motion to adjourn was made at 9:10am and all concurred.
https://www.vniles.com/AgendaCenter/ViewFile/Minutes/_12042019-1847
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