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Deerfield Public Library Board of Trustees
920 Waukegan Road, Deerfield, IL 60015
Finance Committee Meeting Agenda
6:30 p.m., August 26, 2015
1. ROLL CALL AND CALL TO ORDER
2. OPPORTUNITY FOR THE PUBLIC TO ADDRESS THE BOARD, and CORRESPONDENCE
3. DISCUSSION OF FY16 DRAFT BUDGET
4. ADJOURNMENT
Upcoming Board meetings:
REGULAR: September 16, October 21, November 18.
The Deerfield Public Library is subject to the requirements of the Americans with Disabilities Act of 1990.
Individuals with disabilities who plan to attend this meeting and who require certain accommodations in order
to allow them to observe and/or participate in this meeting, or who have questions regarding accessibility of
the meeting or the facilities, are requested to contact the Library Director at 847-945-3311 to allow the Library
to make reasonable accommodations.

�Deerfield Public Library Board of Trustees
FINANCE COMMITTEE MEETING
Minutes
Wednesday, August 26, 2015

l. ROLL CALL AND CALL TO ORDER
The meeting was called to order at 6:30 p.m. in the Deerfield Library Board Room, 920 Waukegan Road,
Deerfield, IL 60015.
Present Board members: Seth Schriftman - Finance Committee Chair, Ken Abosch - Finance Committee
member, and Howard Handler as an observer.
Staff: Amy Falasz-Peterson
2. OPPORTUNITY FOR THE PUBLIC TO ADDRESS THE BOARD, and CORRESPONDENCE
No requests to address the Board.
3. OLD BUSINESS
None
4. NEW BUSINESS
a) Discuss 2016 draft budget
Seth Schriftman and Amy Falasz-Peterson walked the Committee through the first draft of the 2016
budget. The Committee reviewed each line of the budget and had the chance to ask questions, ask for
additional research or clarification, and to make suggestions on changes. After completing the review of
the budget the Committee identified the following sequence of activities to complete the budgeting
process:
• First reading of the 2016 budget will take place at the September Board meeting
• Finance Committee will review feedback from the Board meeting in October prior to the October
Board meeting and be prepared to recommend the budget to the Board
• Second reading of the 2016 budget will occur at the October Board meeting
• The budget hearing for the Village will take place in November.
5. EXECUTIVE SESSION
No executive session was held.
6. ADJOURNMENT
At 7:42 p.m., there being no further business Seth Schriftman made a motion to adjourn, seconded by Ken
Abosch.

Ken Abosch, Secretary
Minutes approved by the Board on__Q_ &lt;?//6/xo/S'

Page 1 of 1

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                    <text>Deerfield Public Library Board of Trustees
Finance Committee Meeting Minutes
August 29, 2016
1. ROLL CALL AND CALL TO ORDER
Mr. Seth Schriftman called the meeting to order at 7:03 p.m., in the Board Room, 920 Waukegan
Road, Deerfield, IL.
Present Board Members: Maureen Wener-President, Seth Schriftman - Treasurer, Ken Abosch Secretary
Staff: Amy Falasz-Peterson, Library Director, Kelly DeCorrevont, Business Manager
2. OPPORTUNITY FOR THE PUBLIC TO ADDRESS THE BOARD
3. NEW BUSINESS
a.
Discussion of FY 2017 Working Budget Draft
Mr. Schriftman discussed the specific line items on the FY 2017 Budget Worksheet. The
Committee reviewed each line item of the budget and had a chance to ask questions, ask for
additional research or clarification and to make suggestions on changes.
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input on the FY 2017 budget line items. Additionally, management reviewed the proposed
strategic plan to begin allocating resources for upcoming projects.
Mr. Schriftman discussed the personnel lines items on the draft budget. Mr. Ken Abosch wanted to
be sure that the budget accounts for adequate increases in health insurance benefits for 2017. Ms.
Falasz-Peterson reported that she and Ms. DeCorrevont will be attending a 2017 health insurance
meeting on September 7.
Ms. Falasz-Peterson reported on the reallocation of funds in the Outreach program lines and
reallocation of funds for the IT/Automation line items.
Ms. Falasz-Peterson stressed that the Building Maintenance will have an increase as we look at
including a Building Maintenance Plan.
Mr. Abosch stated that the Materials budget looks to be in line with the Standards for Illinois
Public Libraries requirement of a 12% allocation of the budget for collections.
The first reading and discussion of the FY 2017 Budget for the entire board will take place at the
September Regular Board Meeting on September 21, 2016. The Finance Committee will review
feedback from the September Board Meeting at the next Finance Committee Meeting on October
6, 2016 at 6:30 p.m., pending library staff confirmation of the date and time. The second and final
reading of the FY 2017 Budget will occur at the October Regular Board Meeting on October 19,
2016. The budget will be presented to Village after the October meeting. The Village has a Budget
Hearing scheduled for November 7.

�b.

Presentation of Fund Balance Policy Draft

Mr. Schriftman discussed the Fund Balance Policy Draft. Ms. Falasz-Peterson stated that this was a
"best management" practice that was brought up to her when she started by the previous
Business Manager. Ms. DeCorrevont has drafted a policy based on local policies. Ms. Wener asked
why the Library would want to build up our Reserve Accounts. Ms. DeCorrevont answered that
this is generally a best practice and would help the Library keep the doors open in case there was a
significant delay in property tax distributions. Mr. Abosch indicated that he would be more
comfortable if we were to raise the goal of the Capital Reserve fund balance to 75% of the budget.
He reminded the committee that this money would be used for major building improvements and
that something like a new HVAC system could potentially cost over a million dollars.
The committee recommended that the staff make the changes discussed in the meeting and have
a revised draft to present at the next Finance Committee meeting.
3. ADJOURNMENT
Mr. Schriftman moved to close the meeting at 8:15 p.m., seconded by Mr. Abosch.
Upcoming Board meetings: September 21

Ken Abosch, Secretary
Minutes approved by the Board on

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