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FINANCE AND ADMINISTRATION
MEETING MINUTES
Monday, November 28, 2011
Minutes of a meeting of the Finance and Administration Committee of the City of O’Fallon, held in the Mayor’s Conference Room, City Hall, 255 S. Lincoln, O’Fallon, Illinois on November 28, 2011. CALL TO ORDER: Time: 5:30 p.m.
ROLL CALL |
MEMBERS: |
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Chairman Bennett |
X |
Polites |
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Albrecht |
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McCoskey X |
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J. Drolet |
X |
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STAFF LIASON: |
Dean Rich |
X |
Alderman True X Alderman Cozad X |
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Walter Denton |
X |
Alderman Roach X |
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Pam Funk |
X |
Alderman N.Drolet X |
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Sandy Evans
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X |
Alderman Hagarty X Alderman Meile X |
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Approval Minutes-September 26, 2011 and October 24, 2011 – All Ayes
Item A: 2011 Tax Levy Proposal – Director of Finance, Dean Rich, presented and explained the 2011 tax levy proposal. (See Attached) The city is projecting the 2011 EAV to be $685,328,303, an increase of 5.8% due to new homes and new commercial growth. The 2011 requested levy rate is .9465, with the total extension being $6,486,632. This is a .0064 decrease in the rate, but an increase of $232,127. Director of Finance explained that there are maximum levy rates for General, Fire, Park, Ambulance and Library, but the only two which are at their maximum rate are Parks- .09 and Library-.15. The General fund maximum rate is .25, but we are only requesting .0405, approximately 10% of what we could levy. IMRF, Police Pension and Social Security do not have a maximum rate.
Director of Finance informed the committee that the levy will be presented to the Council for First Reading on December 5th, and Second reading to adopt this levy on December 19th. After the Director of Finance completed his presentation, Alderman Roach presented a comparison worksheet from 2007 to 2010 and requested that we hold the line on tax increases. After more questions and discussions, Chairman Bennett suggested that since they were out of time, if anyone had more questions to forward to Director of Finance by Monday, December 5th, and if another committee meeting had to be called before the final reading on December 19th, they would do so.
Item B: New World Software Upgrade- Director of Finance said that he did not have the final proposals to discuss.
ADJOURNMENT: 6:17p.m. PREPARED BY: Dean Rich
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