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CITY COUNCIL 2017/09/18 MinutesThe City of Lake Forest CITY COUNCIL WORKSHOP Proceedings of the Monday, September 18, 2017 City Council Workshop Meeting – Municipal Services, 800 N. Field Drive, Lake Forest, IL CALL TO ORDER AND ROLL CALL: Honorable Mayor Lansing called the meeting to order at 6:30pm, and City Clerk Margaret Boyer called the roll of Council members. Present: Honorable Mayor Lansing, Alderman Beidler, Alderman Morris, Alderman Newman, Alderman Rummel, Alderman Tack, Alderman Reisenberg, Alderman Moreno and Alderman Buschmann. Absent: None Also present were: Robert Kiely Jr., City Manager; Elizabeth Holleb, Finance Director; Catherine Czerniak, Director of Community Development; Susan Banks, Communications Manager; Sally Swarthout, Director of Parks & Recreation; Michael Thomas, Director of Public Works; Mike Strong, Assistant to the City Manager; Pete Siebert, Fire Chief; Kevin Cronin, Deputy Chief of Fire; DeSha Kalmar, HR Director; Dan Martin, Superintendent of Public Works. There were approximately 6 other persons in the audience. CALL TO ORDER AND ROLL CALL 6:30 p.m. Mayor Lansing, welcomed the Council, Members of the Community, and City Staff to the Workshop meeting. He introduced Elizabeth Holleb, Finance Director. 1. Alternative Scenarios for Public Safety Pension Funding Finance Director Elizabeth Holleb and Jason Franken of Foster and Foster, the City’s independent actuary, lead continued discussion on issues related to public safety pension funding, including the final issue of payroll growth assumption. Mr. Franken provided information addressing the impact of a one-time transfer to the pension funds in addition to the annual funding requirement. He explained that a longer term issue for the City Councils consideration is the funding approach and assumptions related to amortization of the unfunded liability in each pension fund. Mr. Franken introduced a modeler that was designed to analyze changes in long term funding for public safety pensions under various scenarios. A more detailed discussion is anticipated to occur at a future date. The City Council gave direction to Mr. Franken using a 2% payroll growth assumption. COUNCIL ACTION: While the City Council did not take action in the Workshop, they were asked to provide the actuary with direction on the payroll growth assumption for the 4/30/17 actuarial valuations. All changes made for 4/30/17 will be ratified by approval of a revised pension funding policy on a subsequent City Council agenda. 2. Fiscal Stress Parameters At the request of the City Council at its March 2017 FY18 budget meeting, Elizabeth Holleb, Finance Director, provided a presentation regarding the long term financial forecast of the City’s General Fund under various fiscal scenarios. The scenarios were intended to demonstrate the impact on the City’s finances of revenue losses from the State of Illinois, limitations on property taxes imposed by the General Assembly, and/or investment returns failing to meet actuarial projections in the City’s three pension plans. The City Council was provided with Proceedings of the Monday, September 18, 2017 City Council Workshop Meeting background materials that included the State of Illinois Five Year Forecast, November 2016, Core/Elective Service updated analysis for the FY2018 City Budget. COUNCIL ACTION: Informational item for discussion. 3. Opportunity for Public Comment Mayor Lansing asked if there was anyone present who would like to comment. Seeing none, he reported there will be no further business following executive session and asked for a motion. 4. EXECUTIVE SESSION pursuant to 5ILCS 120/2 (c), (11), The City Council will be discussing threatened Litigation and 5ILCS 120/2 (c), (6), The City Council will be discussing the consideration for the sale or lease of property owned by the Public Body. Alderman Rummel made a motion to adjourn into Executive Session pursuant to 5ILCS 120/2 (c), (11), The City Council will be discussing threatened Litigation and 5ILCS 120/2 (c), (6), The City Council will be discussing the consideration for the sale or lease of property owned by the Public Body, seconded by Alderman Newman. The following voted “Aye”: Alderman Beidler, Morris, Newman, Rummel, Tack, Reisenberg, Moreno, and Buschmann. The following voted “Nay”: None. 8-Ayes, 0 Nays, motion carried. Adjournment into Executive Session- the City Council adjourned at 9:11pm. RECONVENE INTO REGULAR SESSION The City Council reconvened into regular session at 11:00 pm 5. Adjournment There being no further business. Alderman Moreno made a motion to adjourn, seconded by Alderman Beidler. Motion carried unanimously by voice vote at 11:01p.m. Respectfully Submitted, Margaret Boyer City Clerk A complete Packet including all slides and any handouts is available by request at City Hall.