Kane County Forest Preserve District Finance Committee met Feb. 20.
Here is the minutes provided by the Committee:
I. Call to Order
The Finance and Administration Committee meeting was held Tuesday, February 20, 2018 at 2 p.m. at the Administration Offices located at 1996 S. Kirk Road, Suite 320, Geneva, IL 60134.
The meeting was opened by Chairman Mark Davoust at 2 p.m.
Members Present:
Attendee Name: Status:
Chairman Mark Davoust Present
Commissioner Theresa Barreiro Present
Commissioner Brian Dahl Present
Commissioner Rebecca Gillam Absent
Commissioner John Hoscheit Present
Commissioner Don Ishmael Absent
President Michael Kenyon Present
Commissioner Bill Lenert Present
Secretary Philip Lewis Absent
Commissioner John Martin Present
Commissioner Penny Wegman Present
Others Present:
Speakers: Erik Neidy, Forest Preserve District of DuPage County; Natural Resources Director, Tom Sawyer, Managing Partner, Sawyer Falduto Asset Management, LLC. Staff: Executive Director Meyers, Ben Haberthur, Director of Natural Resources, Jerry Culp, Director of Planning and Development, John Goreth, Director of Operations, Tracey Smith, Director of Human Resources, Mike Gilloffo, Director of Public Safety, Patrick Chess, Restoration Ecologist, Administrative Assistant, Caitlin Rodeghero, Buyer, Anna Marano, Community Affairs Specialist, Brittany Kovach, Planner, Michele Springer, Attorney Gerald Hodge, and Recording Secretary, Ellen J. Maglio
II. Approval of Minutes from January 23, 2018
Result: Accepted [Unanimous]
Mover: Brian Dahl, Commissioner
Seconder: John Hoscheit, Commissioner
Ayes: Mark Davoust, Theresa Barreiro, Brian Dahl, John Hoscheit, Michael Kenyon, Bill Lenert,
John Martin, Penny Wegman
Absent: Rebecca Gillam, Don Ishmael, Philip Lewis
III. Public Comment (Each speaker is limited to three minutes) None.
IV. New or Unfinished Business
A. Presentation and Approval of an Agreement with the DuPage County Forest Preserve
District for Mussel Propagation Project
Natural Resources Director Ben Haberthur, introduced his counterpart from the Forest Preserve District of DuPage County, Mr. Erik Neidy. Director Neidy presented a slide presentation outlining the mussel propagation project. In 2017, the District received a total of $250,000 from NiCor Gas to mitigate potential impacts on four listed animal species found in the corridor of a natural gas line replacement project that occurred in Kane County. $150,000 of those mitigation funds are currently funding habitat creation and enhancement projects for three of those species in FPDKC preserves. The remaining $100,000 of those funds are intended to be utilized to benefit the state endangered slippershell mussel (Alasmidonta viridis).
The staff at the DuPage USRC are willing to partner with FPDKC to research, collect and attempt to rear freshwater mussels (including slippershells) from high quality Kane County watersheds. In addition, USRC staff will set up a raceway (artificial stream rearing system) that is dedicated to Kane County genetic organisms.
Discussion: None.
Result: Moved Forward By Voice Vote [Unanimous]
To: Forest Preserve Executive Committee 3/2/2018 8:30 a.m.
Mover: Bill Lenert, Commissioner
Seconder: Brian Dahl, Commissioner
Ayes: Mark Davoust, Theresa Barreiro, Brian Dahl, John Hoscheit, Michael Kenyon, Bill Lenert,
John Martin, Penny Wegman
Absent: Rebecca Gillam, Don Ishmael, Philip Lewis
B. Presentation of the 2017 Year End Cougars' Report
The current contract requires the Cougars to pay $50,000 in the first quarter, $250,000 in the second and third quarters and $150,000 in the fourth quarter. The latest agreement amendment slightly changes the revenue sharing to 15% once $8 million is exceeded until the deferred payments are received. The current year is approximately 2.3% behind as compared to the same timeframe as last year, with every category lagging last year’s figures except for parking and miscellaneous (other). The Cougars attribute poor weather as the main reason for the decline.
Result: Placed On File
C. Presentation of the 2017 Year End Golf Courses Report
The golf year is now the calendar year. Per the new agreement, each course pays $40,000 per quarter and shared revenue of 14.5% on any revenue in excess of $1,103,448 for both Settler’s Hill and Hughes Creek. The District receives 5% of total revenues from Deer Valley. Comparing the data year over year shows that the Settler's Hill Golf Course was down $21K compared to 2016, as was Hughes Creek by $23K. Deer Valley was up by $92.
The District received a total of $80,306.75 in revenues from the golf courses for the fourth quarter. Hughes Creek will be making an additional payment of $12,414.02, since they exceeded the minimum total revenue target that is part of the new agreement.
Discussion: None.
Result: Placed On File
D. Presentation of the 2017 Year End Investment Report from Sawyer Falduto Mr. Tom Sawyer, Managing Partner of the asset management firm of Sawyer Falduto Asset Management, LLC, gave a brief update on the District's investments over the past year.
Discussion: None.
Result: Placed On File
E. Presentation and Approval of Recommended Investment Policy Modifications
All of the financial policies are reviewed on a regular basis and during that review a recommendation was made by the investment managers. Mr. Sawyer also explained that the policy recommendation would be to add another level of security and safety and to reflect the District’s current practices.
The recommendation is to add language to reflect the bonds are general obligation bonds and that they carry a minimum quality rating of “A” or the equivalent by one of the major rating agencies. This is the only revision to the policy at this time based on the recommendation of Sawyer Falduto, Asset Management, LLC.
Discussion: None.
Result: Moved Forward By Voice Vote [Unanimous]
To: Forest Preserve Executive Committee 3/2/2018 8:30 a.m.
Mover: John Martin, Commissioner
Seconder: Bill Lenert, Commissioner
Ayes: Mark Davoust, Theresa Barreiro, Brian Dahl, John Hoscheit, Michael Kenyon, Bill Lenert,
John Martin, Penny Wegman
Absent: Rebecca Gillam, Don Ishmael, Philip Lewis
F. Presentation and Approval of the Surplus Vehicle and Equipment List
In 2013, the District began using an on-line auction house to dispose its surplus vehicles and equipment with good results. The current listing of vehicles and equipment that staff is requesting the Committee to declare as surplus and approve disposing of them through an on-line auction service is available on the District’s website. Staff views this process as instrumental in obtaining the best results with numerous bids submitted. All proceeds from the auction go into the General Fund under 01-00-00-3070 Sale of Material.
Result: Moved Forward By Voice Vote [Unanimous]
To: Forest Preserve Executive Committee 3/2/2018 8:30 a.m.
Mover: Bill Lenert, Commissioner
Seconder: Brian Dahl, Commissioner
Ayes: Mark Davoust, Theresa Barreiro, Brian Dahl, John Hoscheit, Michael Kenyon, Bill Lenert,
John Martin, Penny Wegman
Absent: Rebecca Gillam, Don Ishmael, Philip Lewis
V. Executive Session to Discuss Land Acquisition, Contracts, Litigation and Personnel None.
VI. Communications
Maple Sugaring Days will be March 3 and 4 at the LeRoy Oakes Forest Preserve from 1-4 pm.
This is a family friendly event celebrating spring. The Naturalists will teach how to tap a mapletree, conduct hikes and sample some pure local syrup. This is a free event.
VII. Chairman's Comments None.
VIII. Adjournment
Result: Adjourned By Voice Vote [Unanimous]
Mover: Theresa Barreiro, Commissioner
Seconder: Penny Wegman, Commissioner
Ayes: Mark Davoust, Theresa Barreiro, Brian Dahl, John Hoscheit, Bill Lenert, John Martin,
Penny Wegman
Absent: Rebecca Gillam, Don Ishmael, Michael Kenyon, Philip Lewis
Mark Davoust, Chairman
Finance and Administration Committee
Forest Preserve District of Kane County
Adjournment until: Tuesday, March 20, 2018 at 2 p.m.
Forest Preserve District Administration Offices
1996 S. Kirk Road, Suite 320 Geneva, Illinois
http://kanecountyil.iqm2.com/Citizens/FileOpen.aspx?Type=15&ID=2048&Inline=True
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