FINANCE COMMITTEE 2013/04/15 Minutes
The City of Lake Forest
FINANCE COMMITTEE
Proceedings of the April 15, 2013 Meeting
6:30 p. m. – City Hall Council Chambers
I. Call to Order and Roll Call
Chairman Pandaleon called the meeting to order at 6:30 p.m. Present: Chairman Pandaleon,
Acting Mayor Schoenheider, Aldermen Novit, Waldeck, Reisenberg, Tack and Palmer. Absent:
Aldermen Moore and Adelman. Quorum present. There were approximately 12 present in the
audience.
Staff present: Robert Kiely, Jr., City Manager; Elizabeth Holleb, Finance Director; Diane Hall,
Assistant Finance Director; Cathy Czerniak, Director of Community Development; Mary Van
Arsdale, Director of Parks and Recreation
II. Consideration of Minutes from the Finance Committee Meeting Held on March 18, 2013.
Alderman Novit made a motion to approve the minutes from the Finance Committee meeting
held on March 18, 2013. The motion was seconded by Alderman Palmer. The motion carried
unanimously by voice vote.
III. Water Rate Ordinance
Ms. Holleb, Finance Director stated formal action would be requested at tonight’s City Council
meeting to approve the annual water rate. She stated the rate had been reviewed at the
February and March 2013 Finance Committee meetings. She stated the rate will be increasing
3%.
The Committee discussed for next year the rates will be looked at for alternative rate
calculations.
IV. FY14 Budget Discussion
Ms. Holleb discussed the changes to the budget from the presentation at the March 18, 2013
budget meeting. She explained most of the changes were based on reducing the IMRF rate
used in calculation for the budget. She explained the initial rate used for the IMRF calculations
included the ERI portion to be paid over a ten year period. The City paid off the liability
incurred by offering early retirement in December 2012. She stated the City saved over
$2,000,000 in interest costs by paying the liability off early.
Ms. Holleb stated the increase to the Capital Projects fund is for additional EAB expenses of
$200,000 as well as $50,000 for Wedgewood wetland mitigation.
V. Gorton Operating Agreement
Mr. Kiely, City Manager stated the City is working to generate a new operating agreement
with Gorton. He stated the original operating agreement was developed 10 years ago during
a large renovation project. He stated the Gorton Commission agreement was developed 12
to 14 months ago.
Mr. Vic Filippini, City Attorney stated the current agreement and ordinances are not in sync.
With the proposed agreement, the City would take a less active role in Gorton operations, but
would have oversight of the Gorton budget. The City Council would appoint 5 Board
Members after decommissioning the current Gorton Commission.
The committee discussed the agreement would distinguish the responsibilities of the City and
Gorton regarding the building.
Finance Committee Budget Meeting
Minutes – April 15, 2013
Mr. Mark Ventling, Chairman of the Gorton Commission and Blair Nagel, Chairman of the
Gorton Community Center discussed the agreement is looking to the next 10 to 40 years. They
discussed developing an Executive Board for governance. They discussed the idea of naming
rights to assist with fund raising.
The Committee discussed allocating City funds for capital projects at Gorton will be the
decision of the City Council. The PPL Committee will be discussing the agreement at their April
29th meeting.
VI. Other Business
The Committee discussed the state continues to owe three months of income tax. The strong
increase of real estate sales continues and the revenue stays the same.
The City has received all outstanding revenue from Mettawa.
VII. Opportunity for the Public to Address the Finance Committee: None
VIII. Adjournment
There being no further business, Alderman Palmer moved, seconded by Alderman Reisenberg
to adjourn the meeting at 7:22 p.m. The motion carried unanimously by voice vote.
Respectfully Submitted,
Diane Hall
Assistant Finance Director