Village of Campton Hills Finance Committee met January 10.
Here is the minutes provided by the Committee:
I. Call to Order.
The meeting was called to order by Acting Chair Marc Falk at 7:06 p.m.
II. Roll Call.
Present Absent Also Present
Acting Chair Marc Falk Trustee Chair Pearce Administrator Searl
Member President Blecker Michael O’Dwyer Treasurer Fischer
Member Bruggeman Tyler Feeney,
Member Olson Assoc. Client Dev.
with Arthur J.
Gallagher & Co.
III.Approval of the October 25, 2017 Minutes
Motion #1. Member Olson made a motion to approve the minutes; seconded by President Blecker.
Voice Vote: [Ayes: 4] [Nayes: 0] [Absent: 2] Motion Carried
IV. Reports
a. Treasurer- Financial Report Update.
Treasurer Fischer noted that the Financial Report will be covered at the next regular meeting on Januay 24, 2018.
b. Administrator – Administrator Searl explained that after receiving the Village’s 2018 medical insurance renewal quote the Village Board had asked staff to evaluate other medical coverage options. Administrator Searl stated that after this direction he had reached out to A.J. Gallagher representatives about the possibilitiy of joining the Intergovernmental Personnel Benefits Cooperative (IPBC) medical benefits self insurance pool. Adminstrator Searl introduced Tyler Feeney from A.J. Gallagher to give a presentation on the IPBC and describe the initial costs associated with joining the pool as well as potential future benefits of pool membership.
Mr. Feeney “walked” the committee through a “high level” overview of the IPBC and then “walked” the committee through actual quote to join the IPBC. The final part of Mr. Feeney’s presentation was a description of a timeline if the Village decides to join the IPBC.
In explaining the quote Mr. Feeney stated that to join the IPBC you have to “buy into” the medical and the life insurance programs. Mr. Feeney further explained that the ideal situation would be to “port” our current plan into the IPBC BCBS program. However, due to recent rule changes by the BCBS that set a minimum number of lives that a community must have Campton Hills is not eligible for BCBS. But Mr. Feeney was able to provide quotes for three (3) different United Health Care (UHC) plans. This would provide an opportunity to move from the Village’s Hmo only choice to a PPO program through UHC. In order to join the IPBC utilizing the UHC plan would cost the Village a 25.5% premium increase the first year. However, the Village should see ongoing rate increases stabilize in the range of about 2% annually. Mr. Feeney explained that IPBC quote includes dental coverage through MetLife.
Mr. Feeney concluded his presentation with the steps that need to be taken to join the IPBC the July 1st Benefit Year. The Committee discussed the idea of the Village Board authorizing a “Letter of Intent” to join because indicates an interest but does not “bind” the Village to join. Given that the Village is looking at a variety of medical pricing options the “Letter of Intent” seemed most reasonable.
Motion to recommend to the Village Board the authorization of a letter of intent be sent to Arthur J. Gallagher on or before January 25, 2018 indicating interest in joining the IPBC by Member Bruggeman. Seconded by member Olson.
Voice Vote: [Ayes: 4] [Nayes: 0] [Absent: 2] Motion Carried
V. New Business
a. Reserve Policy – Review/Discussion. Tabled to be discussed at the 1/24, 2018 meeting.
VI. Unfinished Business
a. FY 2018-2019 Budget - Revenue Projection- Review
Treasurer Fischer “walked” the Committee through the “draft” revenue projections, by fund, for the Committee members explaining the philosophy used develop each projection. Treasurer Fischer explained that the first page of the summary and the attached packet that provides the detail for each of the Funds. She noted that the Commission is limited its focus at this time to a discussion of revenue projections for the next Fiscal Year.
President Blecker asked the Treasurer to verify the access permit fees revenue with the Bulding and Zoning Official.
Acting Chair Falk suggested that interest income could be improved if we were to consider moving our money to a Bank in South Elgin (American Eagle). Acting Chair Falk recalled that he had recently moved the money for a Not For Profit organization to this bank and was able to get 2% guaranteed return for six months after which they guarantee it won’t go below 1%. It is an FDIC insured Money Market situation. President Blecker suggested that we should go forward with an RFP to see if we can improve our returns.
b. Police Department- Cost and Sustainability Analysis (Rolling 5 Year Plan)1 Tabled to be discussed at the 1/24, 2018 meeting.
d. Employee Medical Coverage – Cost Sharing Scenario’s
Tabled to be discussed at the 1/24, 2018 meeting.
e. Part time employee benefits- Discussion. Administrator Searl distributed and explained copies of spreadsheets that compared the original Part Time (PTO) proposal with a modified, much more conservative proposal. The Committee discussed the idea of reviewing a proposal that includes a combination of a scaled back PTO with some level of Village paid medical coverage as a package for Part Time employees.
President Blecker proposed that for PTO there should not be any carry over from year to year as the policy proposal should be “use it or lose it”. Acting Chair Falk noted that to allow a day or two carry would help build employee good will.
It was noted that a decision will need to be made as to whether or not the Village will pay a percentage of the employee only premium or a percentage of the family premium.
VII. Public Comments- None
VIII. Member Bruggeman made a motion to adjourn the meeting at 9:11 pm. Seconded by member Olson and passed unanimously.
Voice Vote: [Ayes: 4] [Nayes: 0] [Absent: 2] Motion Carried
http://www.villageofcamptonhills.org/DocumentCenter/View/3481
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