April 3, 2023 at 6:00 PM - District 23 Finance Committee Meeting
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I. Call to Order
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II. Discussion Items
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II.A. FY24 Preliminary Budgetary Guidelines
Description:
Amy has prepared and attached an overview of budgetary initiatives and considerations in preparation of the FY24 Budget. The FY24 Budget Calendar was presented back in October and is attached for the Committee's review.
Attachments:
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II.B. MaRous & Company Appraisal Report on Carousel Park
Description:
As a follow up to our previous discussions around Carousel Park, Amy has provided an update as well as a copy of the report from MaRous & Company. Administration is seeking guidance on next steps.
Attachments:
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II.C. Gymnasium Painting Services Bid - Recommendation for Award
Description:
Bids were solicited in late February for the painting of both the Ross/Sullivan and MacArthur Gymnasiums. The lowest bidder, meeting the District's specifications, is being recommended for award at the April Board meeting. At this time, we are asking to award the Ross/Sullivan Gymnasium only, which will be a cost split with the Arlington Heights Park District. The MacArthur Gymnasium will be awarded to the same vendor, pending Board approval and budget availability later in the 2023-24 school year.
Attachments:
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II.D. NSSEO - FY24 Preliminary Budget
Description:
The proposed NSSEO Budget for FY24 has been attached for discussion. Member districts have participated in several Finance Committee meetings to discuss proposed increases in tuition and services based on current usage. Dr. Sroka will be joining us to answer any questions from the Committee.
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II.E. FY24 EBC Insurance Renewal Rates
Description:
The EBC Board of Directors held their renewal meeting on March 16th. Districts were given the opportunity to attend to discuss the final renewal projections and rates for the upcoming plan year. The rate sheet and overview have been attached for your review.
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II.F. Workers' Compensation Renewal
Description:
Following a conversation with our Workers' Compensation Insurance Broker on March 28th, the District’s Workers' Compensation renewal premium indication is an increase of under 10% from the expiring premium of $76,247. The District would like to proceed with a renewal of coverage with its current provider (ICRMT) and will share the renewal documentation as soon as it is available.
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II.G. Honeywell Building Performance Service Agreement - Renewal
Description:
We have asked Honeywell to provide a 1-year service contract so we can again be reflective of their service commitments prior to entering into another long-term contract, given our past experience with staffing and service concerns. We are in the process of evaluating some language changes to the proposed agreement and will plan to bring the finalized agreement to the Board for approval in May.
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II.H. Financial Overview
Description:
Amy will provide a brief update on YTD revenues and expenditures.
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II.I. Joint Construction Committee
Description:
The purpose of the Joint Committee for Purposes of Construction Work Oversight is to oversee the authorization of construction payments required by the submission of a change order submitted by the architect, construction manager or any general contractor in order to secure the public trust in the integrity and credibility of the construction process. We would like to form this committee for the start of the 2023 Construction Season and will need one volunteer from the Finance Committee.
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III. Old Business
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IV. New Business
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V. Adjournment
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