WILMETTE PARK DISTRICT
Financial Planning & Policy Committee
Date: August 22, 2011
Location: Park District Administration Offices – Conference Room
Time: 6:30 p.m.
Committee: J. Brault, Chair D. Graham
Commissioners: M. Murdock
Staff: S. Wilson, K. Bingham, B. Lambrecht, J. Bowen, K. Eppelheimer
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
1. The Meeting was called to order at 6:30 p.m.
2. The Committee approved the minutes of July 18, 2011
3. Communications and Correspondence – None
4. Recognition of Visitors – None
5. Old Business - None
6. New Business
a. Uniform Increases – 2012 Budget – Superintendent Eppelheimer presented staff’s recommendation on increases to general expenses. An advance memorandum outlined an increase in program fees and a small increase in the 2011 tax levy. On the expense side it was recommended that salary pools be developed for full and part time staff, estimated increases in employee health and retirement benefits, slight increases or decreases in utilities and no increase in fuel expenses. The Committee discussed the proposals and background the staff used in making their recommendations. Executive Director Wilson provided an interactive spreadsheet so percent changes could show the affect on the net surplus or deficit. There was discussion of the impact that deferring capital projects had on the budget and fund balances. The Committee recommended program fees be increased 3.5%, salary pools of 3.0% for full-time and 2.0% for part-time staff be planned, and all other recommended increases be adopted. Superintendent Eppelheimer will provide the Committee’s direction to staff.
b. Capital Review – 7.5 Months – Superintendent Eppelheimer provided information on capital projects. There are several projects now being deferred until 2012. This was supplemental information to be used in the debt issuance discussion.
c. Debt Overview – Superintendent Eppelheimer provided an overview of the District’s debt position both in an historical context and the current state. Debt issuance is generally reserved for capital improvements and is used to support the longer term capital improvement plan. The issuance of debt should not be made to balance any single year budget as capital projects frequently take longer than one fiscal year to complete and so may impact several budget years. The District has an opportunity to issue debt this year as its debt service extension base may be used to retire the debt on the next year(s) tax levy. Additional discussion on the debt topic will be part of next month’s Committee meeting.
7. Next Meeting – The next meeting was scheduled for September 19, 2011, immediately following the Parks and Recreation Committee meeting.
8. Adjournment – With no further business to discuss, the Committee adjourned at 7:34 p.m.
Minutes taken by Ken Eppelheimer
MINUTES APPROVED ON SEPTEMBER 19, 2011.