CCP 03-09-1987 - Laserfiche WebLink

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, Minutes of Regular Finance Committee Meeting Page 4 . Five Year Improvement Plan Council, at its last meeting, asked for updated Five Year Capital Expenditure and Improvement Plans from the various Village departments, for their review at the March 9 meeting. Morrison explained that the Council wished to review the Village's present financial position, anticipated future development projects or any large expenditures, on an informal basis, and the effect these might have on the Permanent Improvement Revolving Fund. Submitted to the Committee for its review were: Five Year Plan, Capital Outlay PIR Fund 501 - Anticipated Income and Expenditures Status Report - Current Improvement Projects Proposed Projects Morrison added that this information could help the Council determine best financing methods (bonds and/or PIR fund). Rautio noted that the Finance Committee has never adopted a five year recommended financial plan; felt a Five Year Capital Proposal, with preliminary recommendations for financing, would give the Council a better "handle" on where we are and where we are going. Erickson suggested information be included on how much has been spend, from tax monies, on capital improvements in the past five years. Woodburn added that General Fund expenditures are increasing rapidly; it may not be possible to use tax monies in this way in the future; felt projections should include a consideration of the increases anticipated in General Fund expenses. . Committee concurred to include this subject in next month's agenda as a whole committee discussion, and possibly appoint a subcommittee after that. Subcommittees - 1988 BudRet Tom Steele agreed to review Revenue in preparation of 1988 budget. Adjournment The meeting was adjourned at 10:20 p.m. Submitted by Shirley Marshall ******'k*** THE NEXT REGULAR MEETING OF THE FINANCE COMMITTEE WILL BE HELD MARCH 26, 1987, 7:30 p.m. VILLAGE HALL. .