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From YouTube: Finance & Budget Committee Meeting 7-11-2023
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A
C
D
D
I
sent
a
four-year
look
at
the
growth
of
the
unfunded
accrual
unfunded,
Actuarial
accrued
liability
and
in
the
last
four
years
it's
grown
by
18
million.
We
don't
have
2022,
yet
we
will
have
that.
Certainly
by
early
fall,
I
also
included.
We
kick
around
6.25
and
6.5
and
there's
a
cost
difference
there
and
I
said
well.
You
know
what
I'm
going
to
actually
look
at
what
that
is.
So
I
sent
you
a
sheet
of
the
Foster
and
Foster
the
numbers
on
the
Bob
and
red
are
mine.
D
D
In
all
these
documents,
I
didn't
it's
just
not
me
putting
them
on
I,
put
the
actual
documents
that
they
come
from
from
the
city
and
from
the
state
and
the
I'm
going
to
focus
on
just
one
thing
right
now
and
that's
the
pprt
because
I
think
that's
a
key
to
this
whole
thing,
making
it
work
without
much
pain
and
certainly
not
much
pain
to
the
taxpayers
and
and
they
have
the
benefit
of
reduced
taxes
in
the
future
and
the
benefit
of
improved
or
certainly
bolstered.
D
When
we,
when
we
do
when
we
fund
things
that
it
certainly
improves
our
rating
on
bonds
now,
I
actually
want
to
I
want
to
complement
the
city
in
a
great
manner.
D
I've
looked
at
looking
for
things
that
I've
had
researched
recently,
I
haven't
seen
another
city
or
municipality
in
our
comparables
that
has
anything
close
on
their
website
for
information
that
edmson
has
and
when
I
say
close
I
mean
it's
not
even
it's
remarkable,
so
someone
should
get
if
there's
a
blue
ribbon
for
organized
website
and
information
on
it,
someone
that
should
be
awarded
whoever
manages
that
they
do
a
great
job.
It's
understandable,
it's
intuitive!
It's
great!
These
other
cities,
I,
there's
like
next
to
nothing
so
again,
I
want
to
give
kudos
to
the
staff.
D
D
If
you
go
on
that
and
you
click
on
that,
it'll
put
you
right
to
the
state
of
Illinois
revenue
and
if
you
look
for
the
pprt
number
there's
loads
of
this,
but
it
goes
pretty
once
you
do
it
once
or
twice.
It
goes
very
fast.
There's
actually
another
number
that
there's
another
place
that
they
show
this.
That
I
just
came
across
again
today.
I'll
I'll
provide
that
number
two.
So
there's
two
places
on
the
internet.
You
can
check
on
pprt
and
the
one
sheet
that
I
sent
later
today.
D
Then
I
also
went
to
the
there's
a
great
section
on
the
monthly
Financial
reports.
So
I
went
to
I
like
to
double
check
things.
So
I
went
to
the
most
recent
monthly
financial
report,
which
is
May
31st
2023,
which
the
state
says
we
have
1.9
million,
but
the
report
on
the
website.
D
It
says
that
oh
top
general
fund
revenues
year
to
date
and
year
to
date,
is
only
1.3
million
okay
and
so
that
I'm
curious
I
was
curious
about
that
I'm
going.
How
can
that
be
off
by
so
much
well,
I
I'm
going
to
see
a
percentage,
but
when
you
subtract
subtract
the
one
number
from
the
other,
it's
exactly
six
hundred
and
five
thousand
dollars,
that's
the
amount
that
goes
to
the
police
and
fire
pensions
am
I,
correct,
but
I'm
just
curious.
D
It's
still
Revenue!
Do
you
know
if
you
want
to
say
how
much
revenue
we
got
this
year,
so
these
other
there's
a
bunch
of
other
funds.
I
just
want
to
know
if,
if
we've
used
money
out
of
those
funds,
do
you
also
drop
that
number?
That's
all
I'm,
just
I'm
just
curious,
because
I
know
it's
one
number
and
if
someone
was
just
casually
looking
at
this,
they
wouldn't
go
to
lengths
to
actually
go
to
the
state.
They'd.
D
Look
at
this
and
it's
off
by
six
hundred
thousand
I
understand
why
it's
off
by
600
000,
because
that
money
was
distributed
to
the
fire
and
police
I.
Think
it's
280
and
325
to
the
police
right,
but
it's
I'll
wrap
it
up
it's,
but
it
still
says:
Surplus
top
general
fund
revenues
and
I.
Don't
know
why
you
would
just
because
you
distributed
that
money
would
drop
out
that
it's
no
no
longer
considered
Revenue.
So
that's
again,
thank
you
for
your
time
and
I
want
to
say
again.
D
If
the
we
didn't
have
such
a
terrific
website,
some
of
these
things
couldn't
come
up
yeah
and
I
again,
my
hat
is
really
off
to
them.
This
is
a
tough
job
for
everyone.
I
think,
with
the
lack
of
that
you,
you
don't
see
the
reserves
in
a
bunch
of
funds,
we're
all
doing
this
with
one
arm
tied
behind
our
back.
We
don't
know
what
total
reserves
are
that
that's
a
tough
deal.
So,
okay
again,
thank
you
very
much.
I.
A
F
Tim
good
evening,
Timothy
Schoolmaster
of
the
police
pension
fund
and
I
would
Echo
most
of
Mr
mortel's
comments
and
I'm
grateful
to
him
for
some
of
his
research.
I
have
another
insight
into
this.
That
I'd
just
like
to
quickly
address
with
you,
and
hopefully
it
would
cause
you
to
change
your
thinking
a
bit
with
this.
F
F
F
What
I,
don't
think
he
told
you
was
it's
going
to
cost
you
a
lot
more
later,
and
it
has
just
these
four-year
figures:
an
increase
of
18
million
in
the
unfunded
liability
and
that
a
cruise
interest,
at
whatever
rate
you
have
now.
Something
else
is
going
on
here
too,
which
makes
these
numbers
bigger
than
I.
Think
most
of
us
realize
the
municipal
league,
in
their
infinite
wisdom,
has
decided
that
90
funding
is
sufficient,
and
so
they
take
10
and
they
put
it
over
here
and
they
pretend
it's
not
there.
F
It's
still
cranking
interest
figures
and
sometimes
it's
going
to
have
to
be
paid
Envision,
paying
your
mortgage
off
having
it
all
paid
off,
but
you
still
owe
a
hundred
million
dollars
well
how's
that
going
to
work
what
you
did
with
your
100
funding
policy.
Is
you
move
that
10
percent
over
into
the
big
column
now?
And
so
the
10
is
no
longer
there
and
it's
the
way
it
should
be
I'm
not
going
to
be
able
to
pay
benefits
with
90
percent
nobody's
going
to
be
able
to
pay
it.
F
Last
figures
I
saw
in
that
were
26
million
dollars,
plus
the
18
million.
The
2022
figures
on
the
increase
in
the
unfunded
I'm
guessing
will
be
yeah
four
to
five
million,
but
you
put
in
an
extra
four
and
a
half
million
from
reserves
and
that
kind
of
cancels
that
out
and
then
there's
the
interest
on
the
the
26
million,
and
so
that
brings
me
to
46.
Maybe
up
to
50
million
dollars
that
the
debt
has
increased
and
whatever
we
adopt
it's
supposed
to
go
down,
so
the
18
million
is
the
proof
in
the
pudding.
F
Why
would
you
use
six
and
a
half
when
it
keeps
going
up?
You
want
to
use
six
and
a
quarter
and
I
would
think
some
responsible
member
of
the
committee
would
would
recommend
six
and
a
quarter
or
even
six.
If
you
were
to
pay
that
for
five
five
years,
there's
no
way
you
can
overpay
this
with
the
amount
of
debt
you
have
which
is
increasing
each
year.
F
So
I
would
like
you
to
consider
that,
because
we're.
F
A
G
H
Hi,
my
name
is
Mary
rosinski
I
want
to
say,
I'm,
really
grateful
for
this
committee
and
I
hope
we
do
listen
wholeheartedly
to
Mr,
Schoolmaster
and
Mr
Mortel,
because
I
think
that'll
help
our
financial
situation
I'm
here
on
another
question
and
I
just
haven't
seen
it
answered
anywhere
and
maybe
it
has
been
out
there,
but
I
know
they
at
one
point:
we've
gotten
up
to
like
a
58
million
or
54
million
dollar,
Surplus
and
I.
Don't
really
know
if
that
was
explained
or
what
happened
with
that
money.
H
So
if
that
could
be
addressed
and
the
reason
I'm
asking
this
is
because
there's
mixed
messages
throughout
our
community
and
on
the
fourth
of
July,
when
you're
talking
to
lots
of
people
I
think
at
least
three
or
four
people
said
you
know
it
looks
like
evanston's
going
bankrupt
and
I'm
like
where'd.
You
get
that
from.
I
H
If
you
may
know
that's
kind
of
a
buzz
out
in
the
world
right
now
and
some
people
have
said
you
know
it's
going
to
help
with
the
Evanston
dead
or
Northwestern.
You
know
whatever
they're
doing
will
help
with
the
Northwestern
debt
I'm
like
no.
No,
that's
just
not
true,
because
if
you
looked
at
the
three
million
dollars
were
you
know
being
promised
from
Northwestern
direct
and
you
look
at
even
40
million
dollars.
We've
got
like
so
much
Overkill.
We
don't
need
to
bring
Northwestern
into
our
financial
situation.
H
We
just
need
to
clarify
it,
but
I'm
afraid
of
losing
people
to
other
communities
because
of
misinformation,
because
there's
three
reasons
why
people
choose
a
community
and
it's
their
schools,
their
parks
and
how
well
their
cities
run.
So
you
know
I
think
we
need
to
be
cognizant
of
that
so
I.
Thank
you
again
for
all
your
time
and
your
great
work.
I
Hi
Jeff
barini,
second
ward,
my
background
is
Corporate
and
corporate
world
is
Rife
with
cliches
and
things
like
that.
One
of
them
is
the
first
rule
of
holes.
Is
that
when
you
find
yourself
in
the
hole,
stop
digging,
and
so
that's
where
we
are
right
now
with
pensions,
and
so
I
urge
this
committee
to
fully
fund
the
pensions
going
forward.
Everything
we
do
today
is
certainly
going
to
help
immediately
and
and
enormously
in
the
future.
I
J
J
There's
this
little
chart
showing
you
know
the
the
capital
Improvement
for
the
fire
headquarters
and
the
police
fire
headquarters
service
center,
Civic,
Center
noise.
J
There's
these
huge
ranges
of
costs
for
future
costs:
50
million
to
100
million
35
million
to
55
million
Etc
for
the
totals
of
145
million
to
275
million
dollars.
Where
can
I
find
the
detail
on
how
those
numbers
were
achieved?
That
I
mean?
Usually
there
are
you
know,
documents
issued.
There's
pricing
received
something
solid.
You
can
base
your
estimates
on
so
I.
That's
a
question
I
like
somebody
to
just
be
able
to
tell
me
tonight
where
I
can
find
that
information
and
then
on
page
17
to
24.
So
a
couple
of
pages
before
page
22.
J
there's
a
reference
to
in
the
summary
on
this
memorandum.
It
says
2022
and
2023
Geo
Bond
issuance
well,
the
there
was
no
Geo
Bond
issuance
in
2022,
so
I'm
confused
about
that.
So
those
are
the
two
questions.
If
somebody
could
just
explain
tonight,
that
would
be
that'd
be
great.
Thank
you.
K
Yes,
Fourth
Ward
property
owner
and
looking
through
the
proposal,
there's
a
reference
and
I'm
sorry
I
don't
have
the
exact
page,
but
it
is
in
The
Proposal
that
refers
to
approximately
100
funding,
and
my
understanding
is
that
we're
currently
at
90
percent
90
could
be
interpreted
as
approximately
a
hundred
percent.
So
this
looks
like
a
loophole.
That
is
somewhat
concerning.
K
Why?
Because,
through
all
this
work,
all
the
wonderful
work
that's
been
done
and
just
you
know
have
that
loose
language,
so
I'm,
not
sure
why
that
was
included
and
I'd
like
the
committee
to
consider
striking
it.
I'm
a
property
owner
I'm
worried
about
taxes.
L
K
Future
so
also
there's
a
moral
obligation
to
give
people
the
pension
that
you've
said
that
you're
going
to
give
them,
and
we
really
need
to
make
sure
that
we
can
do
that.
None
of
us
would
like
to
retire
and
not
have
our
social
security
available.
K
So
those
are
my
concerns.
Thank
you.
A
Very
good
is
that
the
last
public
comment
great.
Thank
you
everyone.
So
the
next
point
is
the
approval.
The
minutes
from
the
June
13th
meeting,
which
were.
J
N
I
want
to
note
that,
just
as
a
point
of
information
or
point
of
order,
we
can
do
a
Voice
vote.
O
O
A
A
Small
things
like
this,
we
could
okay,
very
good
okay,
so
the
the
minutes
pass
all
right.
So
we're
on
to
item
four,
the
review
of
the
annual
comprehensive
financial
report
for
2022.
Mr
Desai,
you
wanna.
N
P
P
Good
evening
chair
the
members
of
the
committee,
the
original
plan
was
to
come
to
the
committee
we
have
I
have
with
me.
They
have
the
Auditors
from
the
second
company,
but
unfortunately
with
one
of
those
new
things
being
implemented
regarding
the
lease
reporting,
it
has
been
delayed,
but
since
she
was
here
and
basically
we
have
the
draft
financials
radius,
only
few
numbers
would
change,
which
is
not
significant
and
she
can
go
into
the
detail.
P
We
thought
that
might
be
a
good
idea
so
that
you,
if
you
have
any
questions
about
any
other
financials
which
you
would
see
here,
I
mean
we
can
get
the
answer
from
her
and
then
she
would
come
back
again
once
the
the
report
is
final,
with
their
audit
opinion
and
the
communication
to
the
finance
and
budget
committees,
so
I
would
yeah
I.
Have
this
Martha
throttle
she's
a
partner
from
the
circus
working
on
our
audit,
so
take
it
over.
Q
So
you
have
the
as
hitach
mentioned,
the
draft
annual
comprehensive
financial
report
is
available
and
at
this
time,
what's
open,
what
we're
expecting
to
complete
is
the
implementation
of
Gatsby
statement
number
87,
which
is
effective
for
the
fiscal
year
end
of
December
31st
2022
outside
of
that
implementation.
All
of
the
items
that
were
required
for
our
audit
testing
have
been
provided
to
us
by
the
city
and
we've
completed
the
testing
and
drafted
the
financial
statements.
N
P
P
A
I
mean
she
can.
Maybe
you
can
come
back
to
us
over
the
next
few
days
and
say
what's
the
most
efficient
way,
if
we
could
do
a
virtual
meeting,
I
don't
know
if
we
still
can,
but
is
there
a
way
that
we
could
have
a
zoom
meeting,
you
could
post
the
final
report
give
us
a
few
days
and
then
accept
it.
If
that's
okay
with
you
know
at
least
vote
on
accepting
it.
However,
people
would
like
to
maybe.
N
Attention,
since
this
is
going
to
go
to
council
for
final
accepting
and
placing
on
file,
I,
wonder
if
it's
just
so,
there
is
some
action
today
and
I.
You
know,
I,
don't
know
if
we
need
this
presentation
twice
or
if
there's
only
a
major
minor
change,
I
I
move
that
we
recommend
and
also
I
think
we
need
a
motion
even
to
discuss
this,
so
I
will
move
that
we
forward
what
is
it
this
draft
report
will
eventually
be
the
final
report
on
to
console
for
approval.
C
O
If
I
could
weigh
in
council
member
council
member
Reed,
we
don't
actually
have
a
report
to
consider,
and
so
it's
my
understanding
that
we
will
do.
We
do
it
as
a
city
council
have
to
officially
accept
and
place
on
file
a
report
which
we
don't
yet
have
right.
What's
our
deadline
for
that,
the.
O
P
N
N
Status
report:
please,
let's
continue
without
being
able
to
review
that's
difficult
all
right.
So
there's
no
motion
on
the
floor
too.
So
this
is
in
a
there
should
be
a
motion
for
something
for
anything
to
be
discussed.
So
that's
what
I
was
trying
to
get
to
the
heart.
What.
O
P
When
she
comes
back
when
the
final
report
is
ready,
yeah,
it
would
be
included
in
the
package.
So
you
have
a
few
days
to
kind
of
look
at
the
report.
You
know
in
the
future
yeah.
J
Q
So,
although,
from
a
financial
statement,
standpoint
I
can
highlight
what
will
change
from
the
draft
that
I
have
here
today
from
a
testing
and
review
standpoint,
it's
a
pretty
significant
undertaking
that
requires
review
of
every
lease
or
lease
type
contract
that
the
city
has
in
existence
and
analyzing
those
calculating
a
net
present
value
of
the
contract
amounts
and
then
calculating
those
reclassification
adjustments
into
the
financial
statements.
So
that's
the
the
component,
that's
still
open.
That
is
a
significant
amount
of
work
required
and
is
the
piece
that
is
remaining
to
be
flowed
through.
Q
Q
As
always,
our
independent
Auditors
report
is
at
the
beginning
of
the
annual
comprehensive
financial
report
and
based
on
the
testing
that
we've
completed,
we
are
anticipating
the
issuance
of
a
clean
unmodified
opinion
on
the
city's
financial
statements.
That's
the
highest
level
of
assurance
that
we
can
issue
and
that's
based
on
the
testing
that
we've
completed
in
accordance
with
generally
accepted
auditing
standards
and
governmental
auditing
standards,
which
are
addition
additional
compliance
requirements
due
to
the
level
of
Grant
activity.
Q
The
city
has
there's
a
section
within
the
annual
comprehensive
financial
report
that
I
always
highlight
and
like
to
appoint
council
members
to
it's
called
the
management,
discussion
and
Analysis.
This
is
presented
by
the
finance
prepared
by
the
finance
department
and
it
provides
additional
context
to
the
balances
in
the
basic
financial
statements.
So
once
the
annual
comprehensive
financial
report
is
issued,
this
is
always
a
key
section
to
look
to
to
receive
some
context
and
Analysis
to
the
financial
statement
balances
themselves.
Q
These
are
presented
on
a
full
accrual
basis
of
accounting.
So,
unlike
the
reports
that
you're
used
to
receiving
on
a
monthly
basis
to
analyze
the
fund
financials,
the
governmental
activities
include
long-term
assets,
long-term
liabilities,
so
those
lead
to
changes
from
the
governmental
fund
balances
totals
to
what's
presented
as
net
position
on
the
statement
of
net
position
for
governmental
activities,
which
you'll
see
here
in
total
governmental
activities.
In
that
position
is
a
deficit
of
30.7
million.
The
business
type
or
Enterprise
fund
net
position
in
total
has
a
balance
of
317.7
million.
Q
The
statement
of
activities
is
essentially
the
income
statement
for
the
information
for
business
type
and
governmental
activities,
as
well
as
the
component
unit
information,
and
this
is
where
you'll
see
the
changes
to
the
city's
net
position
over
the
fiscal
year.
So
net
position
for
governmental
activities
for
the
fiscal
year
end
of
December
31st
2022,
with
the
exception
of
the
gasby
87,
lease
adjustments,
increased
41
million
for
governmental
activities
and
8.2
million
for
business
type
activities
or
the
Enterprise
funds.
Q
That's
followed
by
the
balance
sheet
for
the
governmental
fund,
so
this
is
where
you'll
find
the
reporting
for
each
of
the
city's
major
funds,
which
are
the
general
Debt,
Service
and
arpa
funds
are
major
and
the
remaining
governmental
funds
are
all
considered
non-major.
So
that's
Consolidated
into
total
non-major
governmental
funds,
column
information
on
the
details
of
that
non.
Those
non-major
funds
are
presented
later
in
the
report.
Q
So
you'll
see
here
in
the
governmental
funds
balance
sheet,
the
general
fund
ended
the
fiscal
year
with
a
fund
balance
of
61,
just
over
61
million
and
on
the
governmental
funds.
Schedule,
statement
of
revenues,
expenditures
and
changes
in
fund
balances.
You'll
see
what
the
net
increase
to
the
general
funds
fund
balance
was
for
the
year.
Q
Q
So
the
general
fund
increased
its
fund
balance
for
the
fiscal
year
of
27.4
million
over
the
prior
fiscal
year.
So
there
was
an
overall
Improvement
in
governmental
funds
fund
balances
as
well
of
17.9
million
for
the
fiscal
year,
as
I
mentioned.
There's
one
statement
in
the
report
that
assists
in
reviewing
how
you
get
from
the
fund
balances
of
the
governmental
funds,
which
ended
the
fiscal
year,
91.4
million
to
that
net
position.
Deficit
of
governmental
activities
of
30.7
million.
Q
That's
found
on
page
11,
and
this
is
a
Reconciliation
of
the
fund
balances
of
the
governmental
funds
which
are
presented
on
a
modified
accrual
basis
of
accounting
to
the
full
accrual
basis
of
accounting
and
entity-wide
financial
statements.
So
you're
taking
your
fund
balances,
which
exclude
any
long-term
assets
and
long-term
liabilities
and
adding
in
those
long-term
items
for
the
full
accrual
presentation,
and
this
breaks
down
how
those
changes
impact
your
fund
balances
of
the
funds
versus
your
net
position
of
the
act.
The
overall
cities
governmental
activities
in
total.
Q
So,
as
you'll
see
here,
items
such
as
capital
assets
not
have
accumulated
depreciation,
any
pension
liabilities
or,
in
the
case
of
imrf
pension
assets,
any
deferred
outflows
or
inflows
of
resources
which
are
timing,
items
related
to
those
Actuarial
calculations
and
long-term
debt
of
the
city
flow
through
those
fund
balances
to
get
you
to
your
ending
net
position
of
the
governmental
activities.
So
this
is
a
very
helpful
schedule
to
see
how
you
get
from
your
fund
balance.
Your
positive
fund
balances
to
your
net
position.
A
J
A
Of
the
consistent
numbers
we've
been
talking
about
so
I
think
in
summary,
there's
and
you
kind
of
said
this-
there's
no
unexpected
differences
between
the
numbers
that
we
talk
about
on
a
modified
accrual
basis
on
a
monthly
basis
and
the
full
accrual
that
you
have
in
this
report.
Correct,
correct,
okay,
but
that's
what
that's
what
drives
the
overall
governmental
deficit
is.
Is
the
the
really
the
liabilities
on
the
pension
side
which,
as
we
all
know
so.
Q
And
I
wanted
to
highlight
on
the
governmental
funds,
statement
of
revenues,
expenditures
and
changes
in
fund
balances
and
also
on
the
the
balance
sheet.
The
few
changes
that
you'll
see
from
this
draft
report
related
to
the
gasby
87
items
for
any
of
the
leases
where
the
city
is
receiving
revenue
for
the
right
to
use
of
an
asset
such
as
room,
rentals,
parking
space,
rentals,
anything
that
applies
under
Gatsby
87
and
is
considered
a
long-term
lease.
Q
What
we're
calculating
now,
those
items
will
be
presented
as
a
long-term
receivable
offset
by
a
deferred
inflow
of
resources
on
the
balance
sheet.
So,
although,
ultimately,
the
impact
is
pretty
minimal
to
the
funds,
there's
some
reclassification
and
a
change
in
presentation.
This
hasn't
been
presented
before
in
the
past
before
Gatsby
87.
Those
revenues
are
collected
for
the
fiscal
year
and
reported
just
as
Revenue.
The
new
require
government
is
to
calculate
the
net
present
value
of
those
total
contracts,
including
any
potential
extension
periods
and
present.
What
that
total
receivable
is
for
that
contract.
Q
The
Deferred
inflow
offsets
the
receivable
to
to
show
the
short-term
receivable
was
expected
to
be
received
within
the
upcoming
fiscal
year,
but
the
reason
for
the
presentation
of
the
full
long-term
receivable
is
because
it
is
offset
by
that
deferred
outflow
or
to
to
adjust
for
the
timing.
So
you
see
the
total
contract
value
receivable,
but
what
is
impacting
the
fund
is
just
the
short
term
or
upcoming
fiscal
year
receivable
and
on
the
income
statement
side.
Q
What
you'll
see
is
a
change
from
it's:
a
reclassification
from
charges
for
services
or
revenues
to
show
the
interest
portion,
that's
calculated
related
to
that
and
the
amortization
of
the
right
to
use
of
of
the
city's
asset.
So
those
will
be
the
changes
that
are
upcoming
to
the
reports.
Overall,
the
amounts
hitting
the
funds
won't
be
significantly
impacting
it's
more
of
a
presentation
and
the
calculations
that
are
going
into
it
to
determine
the
Net
Present
Value
that
are
the
leg
work
of
it.
Q
The
proprietary
fund
statements
begin
on
pages
14
and
go
through
page
18
of
the
financial
statements.
One
thing
I
just
wanted
to
note
here
that
you
might
notice
when
you
do
when
you
are
reviewing.
The
report
is
on
the
proprietary
funds,
statement
of
revenues,
expenses
and
changes
in
that
position.
You
might
notice,
in
the
non-operating
revenues
a
negative
investment
income
for
the
water
fund
and
the
sewer
fund,
so
I
just
wanted
to
touch
on
the
reason
for
this.
Overall
investment
income
for
the
fiscal
year
actually
increased
significantly
as
it
relates
to
interest
earnings.
Q
However,
the
change
in
unrealized
gains
or
losses
related
to
Investments
are
netted
with
invest
with
interest
income
and
presented
as
investment
income
on
the
financial
statements.
So
those
negative
balances
here
are
due
to
the
combination
of
your
interest,
earnings,
as
well
as
the
unrealized
gains,
or
in
this
case
it
for
the
fiscal
year,
the
unrealized
losses
on
investments,
so
those
losses
haven't
been
realized.
Q
And
then
just
to
highlight
the
pension
fund,
the
trust
fund,
investment
income
statement
and
balance
sheet
are
presented
also
in
the
basic
financial
statements
ahead
of
the
footnote
disclosures.
This
is
a
combined
balance
sheet
and
income
statement
for
the
police
and
fire
pension
fund.
There's
additional
information
in
the
footnotes
that
breaks
out
the
individual
Pension
funds,
information
that
reconciles
to
this
Consolidated
schedule.
A
Yeah,
if
I
could
just
point
out
there,
you
can
see
that
the
the
firefighters
fund
is
much
simpler
because
it's
just
the
state
fund
at
86
right.
So
the
rest
of
it
is
the
individual
underlying
assets
being
held
by
the
police
fund,
which
has
not
yet
been
Consolidated
pending
the
legal
actions
correct.
Q
So
all
the
all
of
the
outside
of
the
cash
balances
you
see
exactly
what
investment
balances
are
being
held
by
the
related
to
the
firefighters
pension
fund.
Here
those
are
Consolidated
to
the
downstate
plan.
As
for
the
police
pension
fund,
the
remaining
Investments
are
associated
with
the
police
pension
fund.
G
Q
Q
So
there
is
information
in
the
footnote
disclosures
where
you
can
see
how
the
cash
balances
break
out
between
the
police
pension
fund
and
the
fire
pension
fund.
A
Good,
does
anyone
have
any
questions
at
this
point,
recognizing
that
everyone
will
have
to
read
the
reports
or
have
access
to
the
final
reports
later
if
there
any
questions.
N
N
Yeah,
yes,
I
have
my
hand
up
so
one.
Thank
you
for
your
work
here.
My
only
question
is
to
get
your
Insight,
you
know,
I,
don't
know
how
many
municipalities
you
all
work
with.
If
you
happen
to
know
that
number
off
the
top
of
your
head,
please
share
it
but
I'm
sure
it's
quite
a
good
number.
Can
you
tell
me
you
know
we?
We
pay
you
folks,
a
good
amount
of
money
to
do
this
and
it
takes.
N
You
know
specialized
knowledge
to
be
able
to
compile
all
of
this,
but
fundamentally
I
think
our
budget
should
be
easy
enough
to
understand
and
follow
and
track
all
of
this
stuff
that
you
know,
lay
person
or
resident
could
understand
some
of
these
numbers,
and
you
know
even
some
of
this,
particularly
not
being
able
to
see
it
ahead
of
time
for
a
a
lay
council.
Member
like
myself,
is
not
the
easiest
to
follow
and
really
understand
insights.
N
So
one,
can
you
tell
me
what
other
units
of
government
or
other
can
you
share
best
practices
for
making
budgets
accessible
and
some
of
this
information
more
accessible
for
residents.
Q
There
is
a
section
in
the
report
following
the
footnotes
and
required
supplementary
information,
that's
included
in
the
annual
comprehensive
financial
report
where
each
of
the
funds
is
presented
on
a
budget
versus
actual
comparative
schedule.
So
there
are
for
each
of
the
city's
budgeted
funds.
There
are
statements
and
schedules
in
the
annual
comprehensive
financial
report
which
present
the
fiscal
year
budget
any
if
there's
any
amendments
to
the
fiscal
year
budget,
the
fine,
the
original
budget,
as
well
as
the
final
budget
and
then
the
actual
activity
for
the
fiscal
year.
Q
So
there
is
so
you're
able
to
review
how
each
fund
performed
in
comparison
to
what
was
budgeted
for
those
funds.
So
there
is
information
that
follows
the.
It
follows
the
required
supplementary
information
of
the
report
for
each
of
the
city's
budgeted
funds.
A
Q
A
better
or
worse
shirt
in
terms
of
what
is
presented
in
these
financial
statements,
there's
a
lot
of
prescribed
standardization
of
financial
statements,
so
formatting
might
look
different,
but
in
terms
of
the
information
that's
presented,
the
basic
financial
statements,
the
required
supplementary
information,
that's
all
prescribed
by
get
by
gasby
and
GAP
standards.
So
the
report
is
presented
in
in
terms
of
what's
required.
Q
Additionally
the
city
does
submit
to
the
government
Finance
Officers
Association
annually
and
has
received
the
certificate
of
Achievement
Award
annually
for
the
financial
statements
which
prescribes
additional
requirements
for
transparency
and
readability
of
the
financial
statements.
The
city
has
met
those
requirements
and
has
been
awarded
that
award
annually
for
its
annual
comprehensive
financial
report.
So
special.
N
Is
that
award
and
and
are
those
standards?
How
often
are
those
standards
adjusted
because
I
I
feel,
like
every
municipality,
that
I've
gone
through
their
budget,
I
see
that
that
stamp
listed?
So
it
seems
like
it's
almost
a
participation
trophy.
Q
Well,
there's
a
lot
of
work
that
goes
into
preparing
financial
statements
to
in
order
to
be
able
to
receive
that
distinguishment
there's
also
a
separate
budgetary
award.
So
there's
there's
two
separate
depending
on
which
report
you're
referring
to
there
are
budgetary
Awards
by
the
Geo
given
by
the
gfoa
as
well
as
rewards
for
the
annual
comprehensive
Financial
reports.
So
I
guess
it
depends
which
which
one
you're
referring
to
the
certificate
of
achievement
is
specifically
associated
with
the
presentation
of
the
financial
statements.
A
Are
there
any
other
questions
from
from
the
group?
I
just
have
two
very,
very
brief
ones.
No
one
else
has
anything.
Did
you
have
any
major
disagreements
with
the
financial
staff
relative
to
these
financial
statements.
Q
Q
A
C
A
A
Okay,
all
right,
very
good
and
we'll
all
review
the
the
final
report
when
it
when
it
comes
out
and
figure
out
how
we
formally
recommend
it.
If
we
need
to.
Maybe
we
don't,
however,
the
city
wants
to
proceed
all
right.
So
the
next
item
on
our
agenda
is
something
that
we
have
been
working
on
for
an
extended
period
of
time
and
I
think
hopefully
we're
completing
it
tonight
with
respect
to
our
adopting
of
the
pension
funding
policy
for
the
public
safety
pension
plans.
A
This
has
everyone
has
had
input
into
this
into
this
document
and
the
current
draft
of
the
document
and
the
resolution
is
on
pages
nine
through
13
of
the
current
Resolute
of
the
of
the
packet
we've
we've
talked
about
this
previously,
but
there's
just
a
very
briefly
a
couple
of
sections
the
headlines
are:
everyone
is
committed
to
get
to
100
funding
I'll
come
back
with
a
couple
of
amendments
in
a
middle
in
a
minute
that
I
think
we'll
address
some
of
the
things
that
we
we've
talked
about
or
some
of
the
comments.
A
It
defines,
most
importantly,
an
Actuarial
determined
contribution,
which
is
what
is
the
actuary
calculating
what
the
annual
contributions
need
to
be
to
get
us
to
our
goal
of
100
funding,
and
we
intend
to
make
100
of
the
of
the
annual
recommended
contribution
to
get
to
our
eventual
2040.
What
we've
defined
here
as
the
full
funding
date
when
we
would
anticipate
we
would
be
at
our.
A
We
would
have
our
assets
equal,
our
our
liabilities,
we
Define
that
the
investment
rate
of
return
assumption
will
be
considered
by
a
focus
group
on
the
finance
and
budget
committee,
as
well
as
the
pension
boards.
We
should
be
able
to
get
to
a
consensus
on
what
is
a
conservative
rate
on
what
we
should,
what
what
we
think
we
should
use
and
what
the
actuaries
should
use
in
the
reports,
and
then
this
was
an
addition.
We
we
talked
about
before
that.
A
This
draft
policy
really
started
with
a
model
policy
from
Foster
and
Foster,
which
were
largely
in
in
in
full
agreement
with
that.
We
added
here
into
this
report
a
policy,
a
sources
of
pension
contributions
and
where
do
where
is
the
let's
say,
25
to
30
million
dollars
of
of
required
pension
contribution
going
to
come
from?
We
felt
like
that
had
to
be
included
here
and
the
way
that
we
have
prioritized
these
funding
levels.
A
Is
we
already
have
an
existing
pension
property
tax
about
20
million
dollars
a
year
that
would
remain
flat,
I
would
say,
as
long
as
we
can
keep
it
flat.
We
have
the
maximum
amount
of
pprt.
There
can
be
some
complex
calculations
as
to
how
the
whatever
the
money
is
that
we
get
from
the
state
on
pprt
is
allocated
between
pensions
and
and
other
expense
sources.
A
And
then
we
look
to
the
general
fund
and
the
general
fund,
then,
is
either
in
deficit
or
not
all
the
revenues,
all
the
expenses,
the
general
fund.
Do
we
have
room
within
the
general
fund
to
fund
a
portion
of
the
overall
required
recommended
actuarially
determined
contribution.
Hopefully,
we
have
a
budget
that
is
in
that
is
not
in
deficit,
but
if
it
were
to
be
in
deficit
in
future
years,
we
can
look
at
the
general
fund.
A
But
when
we
look
to
budget
what
are
our
available
Reserves
are
those
available
reserved
sufficient
that
we
could
then
bridge
the
gap
to
the
totality
of
our
required
pension
contribution
and
if
we
don't
have
excess
reserves,
if
we
look
to
other
funds
and
don't
have
excess
reserves
in
in
other
discretionary
funds,
it
certainly
our
intent
that
the
words
say
then-
and
only
then
will
we
look
to
a
a
pension
property
tax
increase
to
make
that
required
contribution.
A
So
I
think
that
a
real,
a
real
key
here
for
me
at
least
on
4A
on
section
four-
is
to
be
clear.
You
go
through
all
the
all
of
it
in
in
this
all
the
words
in
this
document.
It
is
that
it's
the
intent
of
this
policy
that
the
the
ADC,
the
Actuarial,
determined
calculation
contribution
to
keep
us
on
the
path
to
full
funding
by
2040..
A
That's
what
we're
going
to
do
and
if
we
have
to
raise
the
pension
property
tax
to
do
it
if
as
unfortunate
as
that
might
be,
if
we're
left
with
only
that
choice
and
that
the
city
council
has
adjusted
the
budget
as
much
as
possible.
Look
to
other
funds,
then
that
is
really
what
I
think
the
Blue
Ribbon
committee
talked
to
talked
about.
As
last
resort.
The
pension
contribution
wins
the
property
taxes,
it's
the
recommendation
or
really
the
guideline
of
this
policy
that
in
that
case
we
would
we
would
raise
the
or
this.
A
We
would
expect
the
city
council
to
raise
the
pension
property
tax
to
go
ahead
and
do
that,
but
ultimately,
in
a
battle
between
those
two,
we
have
made
the
decision
that
we
have
got
to
get
this
behind
us
and
we
want
to
make
the
contribution.
Even
if,
after
looking
at
all
these
other
sources,
we
would
we
would
have
to
raise
the
pension
property
tax
and
then
finally,
we're
also
encouraging
the
city
council.
A
If
we
have
some
unusual
asset
sales,
unusual,
non-recurring,
Revenue
sources,
that
it
consider
that
some
of
that
money
go
into
making
really
an
advanced
payment
or
bringing
down
the
Pent.
The
pension
liability
faster.
But
that's
up
to
the
discretion
based
on
what
the
nature
I
think
of
what
those
assets.
Sales.
A
C
C
That's
to
reach
the
100
unrestricted
revenues-
that's
100,
but
this
would
be
surpassing
the
hundred
percent
to
bring
it
down.
Additionally,
I
would
I
would
just
like
to
see
also
when
there
is
unrestricted,
Surplus
budget
available
that
that
also
we
consider
we
don't
automatically,
but
that
annually
we
consider
if
we've
we're
at
our
100
and
we
can-
and
we
have
unrestricted
Surplus-
that
we
annually
consider
making
additional
payments
I'm
fine
with
making
that
Amendment
at
Council
and
not
now
I'm
going
to
remove
that
forward
and.
A
N
A
N
Yeah
that
should
be
done.
We
should
make
the
motion
to
get
it
on
the
floor
for
discussion,
and
then
those
amendments
should
be
made
and
I
I
support
I
likely
support
the
Amendments
that
are
being
going
to
be
proposed.
Okay,.
O
O
A
Maybe
okay
so
can
I
bring
up
what
what
we've
discussed
in
terms
of
I
think
mutually
agreed
amendments
to
what
is
posted,
sure,
okay,
so
the
first
point
would
be
in
section
one
under
the
policy
goal
full
funded
by
2040
in
the
next
to
last
line.
We
we
can
pull
the
word
approximately.
It
was
not
meant
to
be
anything
scary
I
mean
ultimately
a
a
pension
funding
number
you
never
get
to
an
exact
number,
because
the
assets
and
liabilities
are
moving
and
it's
not
like
a
bond,
but
that's
fine.
A
It's
not
critical,
so
the
first
would
be
to
strike
the
word
approximately.
If.
O
It
was
way
in
there
that
one
makes
sense
and
just
to
clarify
for
everyone.
Listening
approximately
in
this
case
did
not
mean
it
was
not
intended
to
allow
us
a
plus
minus
10
window.
It
was
intended
to
allow
us
a
plus
minus
one
or
two
half
percent
window,
because
the
number
is
always
changing.
You
don't
know
exactly
what
you're
shooting
for
so
that
was
the
intent.
I
do
think
striking.
The
word
here
just
makes
it
cleaner
and
I
would
I'll
support
this
one.
Okay,.
A
We're
striking
approximately
the
second
proposed
amendment
is
section
three
number
one.
The
intent
here
is
look
the
the
the
public
safety
pension
boards
and
the
city
should
be
able
to
agree
on
who
the
actuary
is.
A
So
we
could
say
here
the
actuars
shall
be
engaged
by
the
City
of
Evanston
and
then,
instead
of
say
in
consultation
with
say,
and
the
boards
of
the
Public
Public
safety
pension
plans
Mr
decide.
You
have
any
concerns
relative
to
that.
There's
no
reason
why
we
can't
agree
but
but
make
it
clear
so.
C
I
just
want
to
make
sure
that
sounds.
I
think
that
sounds
good
I,
just
want
to
be
clear,
is
enrolled
as
acceptable
as
the
joint
actuary
I
just
want
to
make
sure
that
that
means
the
same
thing
to
everybody.
The
representatives
of
the
boards
that
enrolled
in
joint
actuaries
not
does
not
have
the
same
enrolled.
F
F
When
was
when
was
Foster
and
Foster
last
rebid,
it
was
during
covert
and
I'm,
not
sure
that
it
even
was
rebid.
It
was
just
kind
of
done
and
I
think
we're
due
too
to
to
rebid.
So
so
I
think
we
need
to
look
at
that,
but
it
joint
means
you've
got
three
partners.
A
A
H
A
I
think
we've
made
clear
here
in
the
policy
that
it's
a
joint
decision
do
we
have
to
call
them
join
actuary.
It's
just
that.
We've
defined
actuary
a
it's
this
jointly
selected
person.
Okay,
so
that's
the
second
point.
The
final
one
and
Sherry's
going
to
take
us
through
this
in
a
minute
relates
to
3A,
and
this
is
a
key
element
of
what
discount
rate
expected
rate
of
return.
Do
we
want
to
use?
We
want
to
be
conservative,
we
want
it
to
be
as
low
as
reasonably
possible,
but
what's
the
process
there
and.
A
So
the
the
amendment
would
be,
we
keep
on
3A
the
investment
rate
of
return
assumption,
and
then
we
insert
will
be
recommended
annually
to
the
city
council
by
the
finance
and
budget
committee.
The
finance
and
budget
committee
will
consider
input
from
the
representatives
of
the
public
safety
pension
boards
and
I
believe
that
that
place
that,
with
the
rest
of
that,
the
rest,
that
sentence
then
drops
off.
So
the
whole
first
sentence
is
the
investment
rate
of
return.
Assumption
will
be
recommended
annually
to
the
city
council
by
the
finance
and
budget
committee
period.
A
The
finance
and
budget
committee
will
consider
input
from
the
representatives
of
the
public
safety
pension
boards.
Okay,
so
I
think
it
and
then
finally,
the
rate
will
be
reviewed
by
the
actuary
for
for
reasonableness.
Okay,
so
that's
our
recommendation.
I.
Think
again,
there's
no
reason
why
pension
boards,
finance
and
budget
committee
and
cannot
come
together
on
what's
a
reasonable
assumption
for
the
assumed
rate
of
return,
which
is
also
used
as
a
discount
rate
for
the
for
the
for
the
liability.
A
So
those
are
the
three
I
think
we've
with
those
three
things
got
rid
of
approximately
made
clear
that
the
actuary
is
is
jointly
appointed,
not
calling
them
joint,
but
it's
jointly
appointed
and
then
finally,
we
need
to
come.
You
know
we
will
take
input
But.
Ultimately,
this
finance
and
budget
committee
will
make
the
recommendation
to
the
city
council
and
we
will.
We
will
take
input
from
the
public
safety
pension.
H
A
J
N
You
thank
you
chair,
so
Juan.
Thank
you,
chair
and
Ron
for
those
really
thoughtful
amendments.
I
think
that
gets
us
exactly
where
we
need
to
be
on
this
so
great
appreciation
for
that.
N
Secondly,
there's
one
thing
that
chair
when
we
discussed
this-
and
some
of
my
colleagues
have
discussed
this
with
I
think
this
needs
to
be
an
ordinance
and
not
a
resolution,
and
so
I
I
would
like
to
move
to
have
this
drafted
as
an
ordinance
rather
than
a
resolution,
and
if
folks
want
an
explanation,
why
we
can
take
a
few
minutes
to
explain,
but
it
may
be
it's
self-evident.
O
I
All
right,
great,
let's
yeah,.
N
Thank
you.
So
the
reason
I
think
this
should
be
an
ordinance
is
an
ordinance
is
harder
to
undo.
N
It
is
more
binding
than
a
resolution
in
that
it
is
harder
to
undo
and
and
so
and
it
holds
more
weight.
It's
more
there,
it's
easier
for
residents
to
find
it's
easier
to
to
be
located
and
I
think
it.
It
gives
this
a
very
special
standard
and
then
we'll
help
ensure
that
in
perpetuity
you
know
going
forward
to
2024
or
I'm
sorry
to
2040.
That
councils
will
be
adhering
to
this
policy.
O
Not
sure
if
we
have
any
other
policies
that
are
encoded
as
ordinances,
so
I
agree
with.
You
know
kind
of
emphasizing
the
importance
of
this
and
making
sure
it's
visible
and
accessible
to
the
public,
but
before
I'd
be
comfortable
moving
forward
with
this
as
an
ordinance
I'd
want
the
legal
department
to
weigh
in
and
give
us
some
guidance.
N
No
I
guess
there's
not
a
representative
legal
at
the
finance
and
budget
committee,
but
certainly
we
would
have
that
opportunity
between
now
and
Council
there.
There
are.
You
know,
procedures
that
are
are
written
into
code.
N
You
know
the
operations
within
the
clerk's
office,
for
example,
are,
are
written
into
code.
You
know,
duties
of
the
city
manager,
duties
of
the
police
chief,
are
are
written
into
code.
N
A
So
would
it
be
a
viable
option
here
to
say
that
the
finance
and
budget
committee
wants
the
city
council
to
discuss
and
determine
if
this
should
be
in
the
form
of
a
ordinance
or
of
a
of
a
policy,
because
I
think
it
would
be
because.
A
The
policy
right,
the
policy
can
be
set,
it's
just
a
matter
of
how
what's
the
best
way.
How
does
the
city
council
want
to
treat
this
to
to
increase
the
chances
that
it
is
as
enduring
as
possible
and
actually
gets
us
to
a
2040,
fully
funded
state.
N
Yeah
and
and
I
would
imagine
that
the
sentiment
is
there
on
this
committee
to
make
this
as
official
and
as
binding,
and
you
know,
is
difficult
to
undo
as
possible
because
there's
a
lot
of
work
that
went
into
this,
and
this
is
setting
us
on
the
right
path
and-
and
we
don't
want
the
you
know,
conveniences
of
the
future.
You
know
the
desire
for
convenience
of
a
future
Council
to
undo
this
policy
very
easily
with
just
one
vote.
N
N
I
am
certain
that
that
this
can
be
done
and
added
to
our
code
and
if,
for
some
reason
it
can't,
then
at
Council
it
will
be
presented
appropriately,
but
I
think
this
committee
should
take
a
vote
to
approve
this
amendment
and
move
it
forward
to
council
as
an
ordinance.
So.
O
It's
been
drafted,
it's
in
front
of
us
as
a
resolution.
I
think
the
most
expeditious
Way
Forward
is
for
us
to
approve
the
resolution
here
and
improve
recommendation
of
this
resolution
by
the
city
council.
If
at
the
council
level,
we
want
to
turn
this
into
an
ordinance.
That
would
be
the
appropriate
time
in
place
to
have
that
discussion.
C
So
yeah
I'd
also
say
council,
member
Reed.
Would
you
be
comfortable
amending
it
or
proposing
this
I
just
think
right
now,
there's
some
insecurity
about
the
difference
between
the
ordinance
and
the
resolution.
I
think
that
we
all
do
want
to
make
this
as
strong
as
possible
for
the
sake
of
getting
this
move
forward,
but
then
to
ask
I'm
legal
to
ahead
of
time
before
it
becomes
before
Council
to
to
prepare
some
statement
regarding
you
know
so
that
we
understand
why
this
this
could
certainly
be
an
ordinance
at
Council.
J
A
Excellent
point
that
that
I
think
should
be
discussed
at
the
next
level
and
if
we
could
yeah
then
vote
on
on
this,
as
as
is
with
the
understanding
that
at
the
next
level,
you
will
reconsider.
Is
it
an
ordinance
or
a
policy?
Okay,.
O
We
just
do
the
Motions
on
the
table
to
approve
this
as
amended.
J
J
O
J
A
Now
very
good.
So
moving
on
to
the
next
item
and
and
an
item
that
very
much
now
that
we
have
gotten
pensions
behind
as
you
go
back,
we
had
five
different
areas.
We
wanted
to
focus
on
capital
projects
as
one
and
this
is
probably
our
really
next
book
thing
to
to
get
into
is
priorities
and
capital
projects,
and
oh.
E
Okay,
the
the
rate
of
return.
There
is
a
little
principal
draft
that
Mr
Mortel
and
I
drafted.
O
I
will
second
council
member
Reed's
motion
to
discuss
this
item.
E
Sorry
about
that,
okay,
so
the
the
way
that
we
drafted
the
policy
here
is
that
the
rate
of
the
return
will
be
set
from
various
stakeholders:
the
members
of
the
finance
and
budget
committee,
City
staff,
representatives
from
police
and
fire
pension
boards
and
inputs
from
our
actuary.
There's
a
memo
here
on
June
13th.
The
budget
and
finance
committee
has
requested
that
Jack
Martell
and
myself
make
a
recommendation
of
the
expected
rate
of
return
for
the
Evanston
fire
and
police
pension
plans.
E
Just
to
remember,
the
plans
are
now
divided,
the
police
are
in
the
Consolidated
plan
or
the
other
way
around
fires
in
the
plan
and
those
rates
are
set
at
about
7.125.
We
did
a
research
of
all
different
communities
and
a
lot
of
input
from
Mr
Mortel
of
communities
like
ours.
This
is
on
page
16
of
24
and
we
came
up
with
6.5
and
the
reason
we
came
up
with
that.
We
thought
that
you
know
we've
gone
a
long
way.
E
We
are
now
are
100
percent,
fully
funding
the
six
and
a
half
we
think
will
be
a
good
rate.
A
lot
of
the
other
municipalities
are
much
higher
we're
in
a
different
economic
state.
Right
now,
interest
rates
are
at
four
to
five
percent
and
fixed
income.
Cash
is
even
earning
five
percent
right
now,
so
we
feel
this
hurdle
is
achievable.
I
was
actually
a
trustee
of
the
Illinois
State
Board
of
Investments.
They
are
fortunate
because
of
their
size
are
able
to
invest
in
private
Equity
they're
able
to
invest
straight
in
real
estate.
E
Their
fees
are
much
less
than
if
we
were
on
an
individual
pension
plan,
and
so
we
will
get
the
benefit
of
that
so
I'm
very
comfortable
at
6.5.
We
will
continue
to
review
this.
We
will
continue
to
get
the
Actuarial
assumptions
and
updates.
We
have
what
17
years
to
flush
this
out,
but
I
I
would
like
to
make
the
recommendation
of
six
and
a
half
percent
along
with
Mr
Mortel.
I
C
I
just
had
a
question
with
regard
to
Mr
schoolmaster's
comments.
So
do
we
know
I
always
feel
like
it
is
better
to
err
on
the
lower
side
on
the
more
conservative
side,
because
the
residents
will
only
gain.
If
we
do
that,
I
mean
the
is
there
do
you,
so
you
feel
there's
zero
risk,
Mr,
Mr,
motel
and
Sherry
that
the
6.5
will
not
set
us
back.
E
D
With
the
language
that
we
have
it's
worth
the
leap
of
faith,
we're
going
to
know
what
happens
a
year
from
now
I
to
me.
The
big
item
was
the
language
6.5.
If
it's
a
mistake
that
could
be
corrected
in
the
future
and
I'll
say
it's
a
big
leap
of
faith.
I
also
want
to
say
I,
don't
speak
for
the
police
pension
board.
Tim
was
right
here.
He
has
his
own
thoughts
on
that
he's.
He
he
has
his
funds
in
a
different
place
than
we
do
so.
D
I
can
I
can
I
can
again
I,
don't
speak
for
Tim
in
the
in
the
police
pension
board,
so
but
I
think
it's
worth
the
leap
of
faith
quite
honestly
for
the
language
and
that
you've
cleaned
it
up
further.
F
F
The
best
estimates
that
kogfa
had
this
goes
back
to
2012
or
2013
was
that
the
period
to
recover
the
liquidation
costs
would
be
at
least
10
years,
maybe
more
so
this
means
the
taxpayers
are
paying
these
liquidation
costs.
If
I
have
a
hundred
million
in
Investments
and
I
have
to
liquidate
some
of
them,
especially
mortgage
pools
and
stuff
I
will
not
be
sending
100
million
to
the
investment
pool.
The
second
part
of
this
is
not
a
hundred
percent
of
that
money
will
be
invested
by
the
investment.
F
F
Each
fund,
fire,
police
and
whatnot
will
maintain
an
operating
account
for
me.
That's
15
million
dollars.
It's
a
checking
account.
How
much
does
your
checking
account
pay
so,
while
the
Consolidated
fund
might
get
a
percent
better
or
a
percent
and
a
half
better?
Will
that
counterbalance
that
money?
That's
not
invested
and
will
never
be
invested
just
because
of
the
nature
of
the
Beast.
Those
are
things
that
the
legislature
and
their
Supreme
wisdom
has
has
plugged
into
this,
but
give
it
a
try,
we'll
see
you
next
year
and
you
can
always
change.
F
O
O
O
C
I
just
want
to
make
sure
everyone
understands
I
mean
the
difference.
Is
you
know
we're
talking
about
1.5
million
dollar
difference
towards
our
accrued
liability
or
not
depending
that
quarter
percent
makes
that
sort
of
a
difference
so
just
be
really
clear
on
that
right.
So
so
I'm
prepared
to
support
this
I'm,
not
not
going
to
support
this,
but
I
just
want
to
make
sure
everybody
here.
A
It
would
be
about
a
one
point
between
the
two
plans:
around
1.5
million
additional
contribution,
if
you
assume
six
and
a
quarter
versus
six
and
a
half
but
I
would
say
based
on
the
work
that
that
Sherry
and
Jack
were
part
of.
If
you
look
on
page
16,
we
are
I.
I,
take
Tim's
point
that
these
could
be
different
funds.
A
You
know,
but
but
they're
they're
likely
invested
very
similarly
we're
on
the
low
end
of
this
and
both
I
think
we
could
characterize
both
six
and
a
quarter
and
six
and
a
half
as
being
on
the
conservative,
Side
Of
The
Ledger,
and
we
can
re-review
this
annually
and
reassess
and
also
at
some
point
look
at
what's
the
different
nature
of
the
assets
between
fire
and
police.
Even
if
police
is
eventually
in
the
state
fund,
does
it
have
some
stranded
assets
that
it's
liquidating?
We
have
time
to
react.
A
A
Six
and
a
half
there
was
a
recommendation
for
six
and
a
quarter
by
the
pension
boards,
because
the
city
wasn't
committed
to
being
100..
It's
now
committed
to
be
at
100.,
so
you
know,
there's
less
risk
to
the
six
and
a
half
I.
Think
I'd
like
to
vote
on
this.
That.
R
S
S
There's
a
couple
things
that
we're
going
to
talk
about,
but
primarily
we
wanted
to
revisit
our
past
geobond
proposed
Geo
Bond
issues
for
2022
and
2023,
and
we
also
want
to
talk
about
some
specific
challenges
that
we're
identifying
as
staff
as
developing
the
proposed
2024
program
for
Capital
Improvement.
S
S
We're
actually
going
to
be
attending
a
few
different
boards
and
commission
meetings
to
discuss
and
get
input,
for
example,
from
this
lovely
committee,
but
also
from
like
the
parks
and
rec
board
to
get
their
feedback
on
any
or
any
recommendations
that
they
might
have
that
we
want
to
pass
through
to
the
city
council.
We
will
be
introducing
it
currently.
S
So
the
first
conversation
we
want
to
have
is
about
the
2022
and
2023
Geo
bonds.
These
Bonds
were
never
issued.
There
were
resolutions
approved
by
the
city
council
in
both
cases
that
allowed
the
staff
to
begin
spending
the
funding
so
that
we
could
reimburse
ourselves
at
the
times
that
the
general
obligation
bonds
are
issued.
S
S
So
when
we
look
at
our
cash
commitments
or
our
contract
commitments,
we
have
actually
got
about
26
million
dollars
in
contract
commission
commitments
and
we
have
10
million
dollars
in
cash
to
pay
those
contract
commitments.
So
when
we
look
at
what
is
that
10
million
dollars,
the
bulk
of
it
is
actually
really
some
old
bond
funds
that
were
dedicated
to
projects
from
the
Illinois
Department
of
Transportation,
where
this
approximately
five
million
dollars,
where
we
finish
the
project,
but
they
actually
hold
the
Construction
contract.
S
They
have
an
audit
process
that
often
takes
several
years
to
conclude
and
then
they'll
invoice
us
the
final
amount.
So
we
have
about
five
million
dollars
in
idot
obligations
and
then
there's
a
little
around
four
million
dollars
that
has
been
transferred
to
the
capital
Improvement
program
or
the
capital
Improvement
fund
related
to
four
specific
projects
that
have
had
overages.
So
the
general
fund
cash
reserves
have
transferred
money
on
things
like
the
skate
park,
the
Oakton
Corridor
Improvement
in
expectation
that
that
money
is
going
to
be
going
out
the
door
this
year.
S
S
That
would
calculate
out
to
about
5.6
million
dollars
right
now,
but
our
actual
Reserve
is
1.1
million
dollars
of
unobligated
money,
so
that
Reserve
is
meant
to
deal
with
things
like
cash
flow
issues,
as
we
hold
back
on
trying
to
get
the
optimal
point
of
view
for
when
we're
issuing
our
general
obligation
bonds
each
year,
but
is
also
intended
to
deal
with
things
like
the
emergencies
that
happen
so,
for
example,
on
our
police
fire
headquarters.
There's
an
ongoing
structural
issue
that
we
anticipate
spending
about
a
million
and
a
half
dollars.
S
It
was
not
budgeted
this
year
that
will
need
to
be
addressed,
and
the
city
has
been
very
fortunate
in
this
year
in
that
we
have
had
some
excess
funds
available
in
the
general
fund
cash
Reserve-
that's
not
always
the
case.
So
so.
Why
does
this
matter?
Because
we
have
cash
and
we're
still
continuing
to
pay
our
bills.
S
We
haven't
defaulted
on
anything,
and
actually
our
finance
group
has
opened
a
line
of
credit,
as
you
may
be
aware,
in
order
to
cover
any
particular
things,
but
it
gets
increasingly
complex
to
manage
as
we
go
year
after
year,
without
issuing
General
obligation,
bonds,
and
now
the
staff
is
planning
for
the
2024
General
obligation
bond
issue.
It
becomes
more
and
more
difficult
when
we
don't
know
exactly
what
our
funding
is
to
continue
to
try
to
track
it.
S
Roll
it
over
I
have
to
make
estimates
at
this
point
in
time
about
what
projects
are
not
going
to
be
completed
by
the
end
of
2023
and
will
have
to
be
rolled
over
into
2024
and
then
roll
over
the
funding
accordingly.
So
it's
really
becomes
more
and
more
tricky
in
order
to
be
able
to
really
understand
exactly
what
all
of
our
commitments
are
and
not
knowing
exactly
what
those
funding
levels
are.
S
It
puts
us
in
a
place
where
there
are
more
unintended
consequences,
so
in
all
honesty,
one
unintended
consequence
that
happened
this
past
year
is
that
not
all
of
the
2022
Geo
Bonds
were
approved
that
were
related
to
projects
that
hadn't
gotten
done.
Some
projects
that
we
thought
would
be
under
a
contract
commitment
by
the
end
of
December
were
not.
They
went
under
a
commitment
in
January
and
February.
It's
just
like
a
one
month
delay.
S
However,
not
all
of
those
Bonds
were
included
in
the
actual
budget
document,
and
so,
as
we
awarded
projects,
we
had
to
say
well
we're
going
to
be
using
2022
go
bonds.
If
the
city
council
approves
those
the
bonds
haven't
been
sold
yet
so
it's
just
a
paper
description,
but
over
time
having
a
lot
of
those
types
of
little
problems
really
adds
up
to
the
potential
for
more
errors
to
occur.
S
In
addition,
when
we
sell
when
we
designate
in
our
budget
the
2022
Geo
bonds
and
I'm,
just
using
this
as
an
example,
the
city
council
adopts
a
budget
practically
speaking.
There
is
a
business
unit
that
is
opened
that
will
contain
the
2022
Geo
bonds.
Even
though
we
haven't
actually
put
any
Revenue
into
it,
expenses
start
going
out
of
that
as
soon
as
the
bond
resolution
is
approved,
and
then
we
need
to
reimburse
that
business
unit.
S
S
How
can
you
be
spending
those
it's
like
I
can
because
I
have
a
business
unit
and
a
budget
that
says
it's
2022,
Geo
bonds
until
another
funding
source
is
designated
and
so
having
this
lack
of
clarity
continues
to
cause
issues
with
transparency
with
some
of
the
members
of
the
public.
They
don't
necessarily
understand.
We
continue
to
answer
the
same
questions.
R
Chair
Livingston,
this
is
Leslie
McMillan
I.
You
know
these
are
really
important
issues
that
Laura's
bringing
up
and
I.
You
know
it's
it's
six!
It's
it's
6
30!
It's
the
end,
I
think
you
know,
we've
already
passed
a
huge
thing
with
the
with
the
pensions
I
think
we
really
need
some
extra
time
to
start.
You
know
fresh
with
this.
Could
we
put
this
on
the
agenda
for
next
time.
A
Thing
it
is,
you
know,
I,
I,
agree,
and,
and
so
maybe
we
can,
we
can
get
through
a
bit
more
but
I
think
ultimately
what
we
need
from
Mr
Desai
is
a
recommendation
over
the
next
month
or
so
how
much
of
a
bonder
is
the
city
recommending
that
we
issue
and
why
and
and
as
we
set
ourselves
up
because
it
has
been
two
years
right,
we've
I
think
we've
done
the
right
thing.
We
had
some
excess
cash.
We've
delayed
issuing
Bonds
in
a
scary
market
right.
A
Is
it
any
better
now?
Well,
it
probably
is
the
market
that
it
is
right,
so
we've
bought
time.
We
need
to
know
how
much
do
we
need
to
issue.
Why
is
that
the
case
and
what
are
our
plans
so
I
think
it's.
It's
remember.
Mcmillan
I!
Think
it's
good.
If
we
go
through
this
for
a
bit
more,
it's
not
an
action
item
for
tonight,
but
we
absolutely
it's
setting
things
up
very
well.
A
S
Two
so
I'm,
sorry
yeah,
so
you
have
predicted
my
next
slide,
which
is
that
we
were
seeking
guidance
on
what
to
do
and
actually
what
we
wanted
to
get
to
tonight
was
if
there
were
specific
information
that
we
could
bring
back
to
you,
so
that
we
could
start
to
wrap
up
this
financial
plan
as
we
move
forward
to
planning
next
year's
budget.
So
thank
you.
S
That
is
very
helpful.
Actually
that
Clarity.
E
One
item
that
would
be
helpful
for
me
is
I
know
we
have
that
line
of
credit,
so
to
kind
of
distinguish.
What
is
kind
of
short-term,
with
money
we
might
have
coming
in
versus
long-term
needs
that
we
would
need
a
Geo
band
because
I
don't
want
to
just
issue
bonds
because
we
have
projects-
and
we
might
get
money
later
so
so.
S
All
of
the
all
of
the
projects
need
to
be
funded
and
there
is
in
most
cases,
there's
just
if
we
said
Geo
Bond.
There
is
no
other
money
coming
that
Geo
Bond.
Unless
the
city
designates
another
funding
source,
like
they
just
spontaneously
decide
to
say
we
are
going
to
pay
for
this
out
of
cash.
This
much
will
be
cash,
otherwise,
there's
no
other
money
coming
capital
projects.
S
There
are
always
new
capital
projects
that
are
absorbing
the
excess
funds
of
the
city,
so
we
have
managed
in
cases
like
a
situation
where
we
enter
we've
done
projects
at
the
Levy
Center,
where
the
levy
Foundation
has
given
the
city
money
to
give
to
those
projects.
In
most
cases,
the
city
fronts,
the
money
and
the
Levy
Center
pays
us
back
at
the
end
of
the
construction.
That's
true
for
almost
all
donations
that
we
get
of
monies.
That's
what
happened
with
crown
as
well.
The
money
was
fronted
by
the
city.
S
We
received
donations
back
from
Friends
of
Crown
to
help
us
pay
for
the
costs,
as
the
project
is
completed.
However,
up
until
now,
the
cash
balance
in
the
capital
Improvement
fund
has
been
covering
those
types
of
costs.
What
we're
starting
to
run
into
the
situation?
Is
we
burn
through
that
and
now
we
don't
necessarily
have
that
same
ability.
M
Burns
I
just
had
a
follow-up
question
to
what
we
just
are
about
short-term
projects
and
long-term
projects.
Are
you
thinking
like
short-term
sidewalk
replacement,
long-term?
You
know.
Animal
shelter
like
I
just
I,
want
to
understand,
like.
M
E
About
something
that
we
may
get
reimbursed
later
and
we
have
this
line
of
credit
we
could
use
for
a
year
or
two
until
we
get
reimbursed,
then
we're
not
locked
into
a
bond
paying
interest
on
money
that
is
going
to
come
in.
It
may
not
be
that
much,
but
if
we
scrape
it
together,
it
may
end
up
being
a
few
million
dollars.
So
Harvey.
S
N
N
N
What
I
think
this
committee
should
do
is
essentially
with
CIP,
engage
in
the
process
we
just
engaged
in
with
the
pensions
that
was,
you
know,
a
huge
undertaking
and
and
I
think
it's
really
setting
us
up
in
the
right
place
and
I
think
we
need
to
understand
what
all
of
our
outstanding
infrastructure
liabilities
are,
the
things
that
would
cause
us
to
issue
new
bonds,
because,
quite
frankly,
you
know
I
think
I
may
have
changed
my
opinion
on
this
a
bit,
given
the
outstanding
liability
that
we
have
with
infrastructure.
N
Similarly,
as
we
did
with
pensions,
determine
what
is
a
good
time
frame
to
pay
this
off,
you
know,
if
we're
thinking
about
the
lead
pipes,
then
we
have
a
state
mandate
that
we
have
to
meet
if
we're
thinking
about
other
we've
set
our
own
goal
and
what
would
it
take
for
us
to
and
then
also
you
know,
if
you
want
to
think
about
this,
like
pensions,
we
know
every
year
more
infrastructure
is
going
to
fail.
N
I
think
factor
that
in
and
then
determine
what
it's
going
to
take
to
get
us
to
wherever
we
want
to
be
whatever
our
version
for
this
of
100
funding
is
by
a
certain
time
frame
and
work
backwards
and
see
you
know
what
what
numbers
will
we
have
to
come
up
with
an
annual
for
an
annual
expenditure
toward
this,
and
that's
what
I
think
this
committee
should
focus
on
and
I
think
that
would
be
really
helpful
for
Council.
If
we,
if
we
did
that.
C
Thank
you,
yeah
I,
just
I'm,
looking
at
the
I
think
it's
the
quarterly
report
with
the
cash
and
investment
position
and
I
see.
Is
this
accurate?
We
have
about
64
million
in
cash
at
byline.
Is
that
correct,
Mr,
Desai,
okay,
so
I
mean
I?
Think
we
always
and
we've
expressed
this
before
in
finance
and
budget,
that
you
know
that
I
don't
know
what
that
earns
or
do
we
do
we
choose
to
put
it
in
byline
because
well,
at
any
rate,
what
is
the
approximate
earnings
on
that
cash
balance.
C
On
the
cash
balance
at
filing
okay
and
then
we,
the
rest,
is,
you
know
around
100
million,
that's
invested,
but
I.
Think,
generally
speaking,
we
would
prefer
to
use
that
cash
for
the
most
part,
not
touching
our
reserves,
but
the
excess
access
reserves.
Yes,
but
rather
than
issuing
20-year
High
interest
bonds,
I
think
we've
made
that
clear.
P
That
we
always
want
to
go
there.
First
yeah
I
mean
yes,
you
are
looking
at
the
one
part,
but
we
can't
trade
100
million
as
a
one
part
of
cash,
because
if
it's
our
permanent
there,
if
it's
a
tiff
money,
if
it's
special
service
area
cash,
if
it's
the
Waterfront
cash,
yes,
so
you
have
to
look
for
only
funds
like
a
CIP
fund
or
general
fund
Human
Service
fund,
which
are
kind
of
fungible
where
you
can
take
the
money
from
but
yeah
I
cannot
touch
the
other
400.
You
know
right.
C
P
P
So
we
have
the
line
of
credit
right
now,
I
think
it's
a
15
million
dollar.
It's
coming
up
for
that
I
think
the
renewal
allowed
to
check
with
the
byline
the
only
downside
like
if
you
say,
okay
right
now,
whether
we
have
to
make
the
decision
whether
we
shoot
the
bond
or
use
the
line
of
credit
line
of
credit
rates
would
be
around
I.
Think
six,
six
and
a
half
percent
right
now,
because
typically
they
are,
they
have
at
least
100.
P
P
What
is
our
short-term
needs
versus
that
I
mean
we
can
yeah
even
come
up
with
a
combination
of
things
that
yeah,
let's
see
if
you
have
15
20
million
dollar
Geo
bonds
and
use
the
rest
out
of
the
our
temporary
line
of
credit.
P
P
Were
going
down
but
I
think
the
way
the
market
is
and
I
think
some
of
the
members
could
talk
to
it
is
like
they
say
it's
like
a
little
bit
stubborn
right
now,
I
mean
last
year.
I
would
admit
that
I
was
thinking
about
based
on
the
reports.
We
are
getting
from
all
the
economies
that,
yes,
we
would
have
a
normal
rate
by
the
mid-23,
but
we
are
pretty
much
there
and
they
still
talk
about
one
more
rate
increase
before
they
start
stabilizing
or
cutting
the
rate.
So,
okay,
it
is
very
uncertain
here.
E
S
So
we
also
wanted
to
make
the
committee
aware,
as
we've
developed,
the
2024
CIP
there's
been
a
number
of
issues
that
are
becoming
clear.
There
are
specific
challenges
to
this
year's
CIP.
S
One
is
related
to
water
main
and
Lead
service
line,
Replacements
I'm
actually
going
to
let
our
follow-on
person
talk
about
that
particular
Challenge
and
skip
it
for
now
challenge
two.
As
we've
been
doing,
Parks
we've
generally
been
focusing
on
our
worst
parks,
and
those
parks
are
bad
enough
that
they
basically
have
to
just
be
wiped
clean
and
redone
from
scratch,
because
the
infrastructure
is
so
deteriorated.
But
a
lot
of
questions
rightfully
have
been
coming
up
as
we've
gone
through
2023
about.
Why?
Don't
we
just
go
in
and
just
replace
equipment?
S
Why
don't
we
go
in
and
just
fix
problems
rather
than
do
these
massively
expensive
whole
park
Renovations,
and
this
is
really
valid.
It's
valid
discussion
items,
so
staff
did
a
deep
dive
into.
How
do
we
want
to
address
parks
and
essentially,
what
we
have
is
the
city
owns
over
80
parks
that
they
maintain.
S
You
could
accept
that,
and
this
is
very
typical,
many
of
our
parks.
There
are
overhead
power
lines
that
run
over
the
playground,
equipment
and
legally,
we
are
once
we
touch
things.
We
have
to
fix
that
problem
and
bury
the
overhead
power
lines,
there's
a
pathway
that
leads
up
to
it.
That
is
so
cracked
and
degraded
that
it
no
longer
meets
anything
like
ADA
requirements.
So
now
we're
fixing
a
pathway.
There
is
a
shelter
that
hasn't
had
any
investment
in
it.
S
Elements
have
been
removed,
but
basically
it's
verging
on
not
structurally
sound,
so
we
have
to
address
the
shelter,
the
playground,
floods
all
the
time.
We
need
to
also
recreate
the
park
or
put
in
a
drainage
system,
so
you
can
see
how
those
types
of
parks,
those
Legacy
Parks.
You
really
cannot
go
in
and
just
fix
a
thing.
You
are
forced
into
the
situation.
Now
we
have
a
lot
of
parts.
We
have
69
other
parks
that
are
not
legacy
parks
that
we
could
go
in
and
do
that
type
of
improvement.
S
S
But
if
we
were
to
start
doing
these
regular
investments
in
the
capital
program,
we
could
get
into
a
situation
over
a
period
of
time
where
we
weren't
being
faced
with
these
types
of
major
improvements
on
the
same
scale
that
we
have
them
now.
And
so
we,
the
staff,
has
looked
at
setting
up
a
proposed
Capital
Improvement
program.
That
kind
of
does
those
address
those
Legacy
Parks
because
we're
removing
playground
equipment
as
we
speak,
but
also
look
at
for
the
Next
Generation
trying
to
get
it
so
that
we're
regularly
doing
these
kinds
of
Capital
Improvements.
S
So
that
is
where
again,
it
would
be
very
helpful
if
the
committee
were
to
make
some
recommendations
or
provide
some
guidance
on
what
is
an
acceptable
level
of
debt
issuance
to
cover
these
types
of
expenditures.
Or
are
there
alternate
funding
sources
that
we
should
be
looking
at
in
order
to
be
able
to
fund
that.
C
E
M
Will
say:
I
agree
with
Will
council
member
Reed
said
I
think
the
comparison
that
he
provided
is
a
good
one,
and
it
may
be
a
different
amount
of
effort,
but
I
do
think.
One
of
my
one
of
my
recommendations
was
going
to
be
for
for
some
of
these
issues,
especially
these
really
big
issues,
as
Leslie
said:
I
think
it
does.
We
do
benefit
from
working
on
it
together
collaboratively.
In
the
same
way,
we
did
the
pensions
yeah.
N
And
I
would
love
to
be
a
part
of
that
working
group,
if
possible
or
somehow,
if
someone
isn't
able
to
make
it
that'd
be
able
to
swap
in.
S
Since
we're
short
on
time
facilities
same
thing,
we
have
six
facilities,
we
have
plans
for
two
of
them.
We
have
four
that
are
really
on
the
horizon,
and
we've
been
working
to
pull
together
Draft
plans
for
these
things,
we're
rolling
those
out
as
we've
over
the
next
few
months
as
we
do
the
budget
but
same
problem,
same
challenge.
E
S
We
don't
entirely
know
what
we're
doing
when
we
talk
about
something
like
the
police
fire
headquarters
or
the
Civic
Center
we're
in
the
middle
of
a
process
with
a
city
council
is
going
to
be
presented
information
over
the
next
couple
months
and
we'll
need
to
start
making
some
choices.
Are
we
renovating
in
place?
Are
we
building
a
new
facility?
S
S
If
we
delay
a
decision
for
five
years,
the
cost
is
going
to
be
dramatically
different,
but
we've
seen
in
the
past
times
when
decisions
numbers
were
floated
without
having
a
specific
scope
of
work
or
years
before
the
work
was
done,
and
then
people
feeling
somewhat
betrayed,
like
the
staff
didn't
stick
to
a
budget
when
actually
the
scope
of
what
was
built
was
wildly
different
than
what
was
actually
planned
originally.
So.
S
For
that
reason,
we've
kept
the
numbers
really
General,
but
we
are
working
we're
having
some
staffing
issues
in
all
honesty
that
we're
trying
to
get
through
turn
through
all
of
this
information,
and
we
don't
expect
that
the
this
committee
would
have
a
recommendation
in
a
week.
But
these
are
long-term
challenges
that
over
the
next
several
months,
we
need
to
come
up
with
a
plan
that
we
could
Implement
in
the
long
term.
C
S
I
would
certainly
love
to
I
will
tell
you
seven
years
ago
we
were
spending
less
than
a
million
dollars
a
year,
something
like
six
hundred
thousand
dollars
a
year
on
parks
in
the
capital
Improvement
program.
Now
a
single
Park
Rehab
is
over
a
million
dollars
just
because
of
the
costs.
So
there
was
never
money
in
recent
memory
devoted
to
meat,
even
just
the
annual
equipment,
replacement
pathway,
resurfacing
lighting
modernization.
All
of
the
things
that
you
just
have
to
do
to
keep
it
going
much
less
deal
with
these
massive
Park
rehabilitations.
C
S
So
I
don't
want
to
this
up.
I
will
say
that
one
thing
we
wanted
to
request
is
if
the
committee
would
be
willing
to
meet
in
July
again,
I
know,
there's
no
August
meeting.
Excuse
me
planned,
but
we'd
really
like
to
be
able
to
provide
you
more
information
before
this
goes
out
to
the
general
city
council.
I
A
What
should
the
footprint
be
of
these
facilities
right?
One
Consolidated
facility,
multiple
facilities
to
get
fixed.
We
shouldn't
be
afraid
to
talk
about
anything
as
as
different
options
in
how
we're
gonna,
you
know,
maybe
have
to
rejigger
how
the
the
city
is
has
been
organized
for
for
what
the
footprint
is.
Now
is
the
time
perfect
time
to
rethink
okay,
which
what
should
it
be.
E
N
Point
of
order,
I,
I
again
I,
just
want
to
really
refocus
this
committee.
I
think
this
committee
should
focus
on
the
finances.
I,
don't
think
this
committee
should
get
into
I
I
think
we
should
understand
the
finances,
so
we
can
send
that
over
to
the
parks
and
rec
board
or
send
that
over
to
the
city
council.
So
those
boards
who
are
focused
on
on
those
issues
can
use
this
information
that
this
committee
provides
to
make
an
informed
decision.
N
I,
don't
think
this
committee
should
be
getting
into
the
the
work
of
deciding
whether
or
not
a
facility
is,
is
proper
or
not,
and
that's
why
I
I
certainly
am
willing
to
come
back
to
a
future
meeting
if
we
need
another
July,
all.
L
L
We
have
a
hard
stop,
so
I.
Would
this
presentation
that
we
have
is
now
on
the
finance
and
budget
committee's
website,
so
you
can
click
on
it
view
it
there.
There
is
an
accompanying
memo
to
that
I
as
staff
I
would
ask
that
you
might
consider
meeting
two
weeks
from
now
again
and
we
can
miss
Biggs
had
several
factors
up
on
that
last
slide.
You
know
we
could
provide
more
information
about
the
bond
issues.
What
we
think
we
need
short-term
long
term.
L
We
could
talk
more
about
the
parks
and
Facilities
the
the
two
big
issues,
and
we
could
also
talk
about
the
water
fund.
The
quick
snapshot
on
the
water
fund
is
that
we
have
an
aging
infrastructure
with
over
100
year
old
water
mains.
We
have
some
right.
L
Now
we
have
a
mile
and
a
half
of
what
I
mean
over
120
years
old,
which
you
know,
life
expectancy
of
a
water
main
is
a
hundred
and
stretch
it
to
120,
and
if
we
keep
going
just
at
the
pace,
we're
going
in
2042,
we'll
wind
up
with
I,
don't
know
27
miles
over
120
years
old,
so
staff
did
a
whole
calculation
indicating
that
we
should
be
increasing
our
annual
replacement
or
water
main
to
3.2
miles.
Of
course,
that
means
just
more
expense
and
then
the
state
does
have
a
a
law
out.
L
That
requires
us
to
add
an
immediate
impact
on
how
much
it
cost.
You
have
to
replace
lead
service
lines
that
are
connected
to
the
water,
mainsure
replacement,
and
you
have
to
repair
one
that
is
broken,
so
that
was
an
immediate
cost
that
happened
right
now,
but
then
starting
in
2027,
we
have
to
replace
over
11
000
lead
service
Lines
within
20
years.
That
means
doing
approximately
500
a
year
and
that's
a
big
cost
too.
L
So
we
have
a
model
that
we
use
and
we've
been
using
it
since
2009
and
we're
staff
is
still
working
on
this.
But
we're
looking
at
almost
16
percent
water
rate
increases
for
the
for
the
next
six
years.
13
water
rate
increases
for
the
next
six
years
and
we'd
like
to
show
you
that
and
demonstrate
to
you
bring
the
model
in,
and
things
like
that.
So.
L
It's
just
evanstonians,
because
if
you
look
at
the
slide,
you'll
see
it
at
the
water
plant
and
we
had
one
massive
fund
worksheet
and
we
split
it
between
plant
water,
plant
and
distribution
system.
The
water
plant
is
doing
well
because
of
our
wholesale
water
customers,
the
distribution
system,
the
18
inch
and
smaller
pipes
that
serve
water
to
the
Evanston
residents
only
is
what's
100
years
old
and
needs
to
be
replacing.
Every
lead
service
line
is
only
used
in
Evanston,
so
we
can't
charge
our
wholesale
water.
C
L
Because
in
our
study
in
2009
the
consultant
that
helped
us
with
that,
so
we
should
have
25
percent
of
our
operating
costs.
We
should
have
a
million
dollars
set
aside
because
of
flexural
Revenue
income,
mostly
for
Evanston
residents,
that
they
pay
late.
We
may
not
get
the
money
right
away.
We
had
an
incident
where
one
of
our
water
contracts
expired
and
our
contract,
our
purchaser
wasn't
paying
us
as
they
should.
So
that's
why
we
like
that
Reserve
announced
a
million
dollars
that
we
put
aside
on
capital
for
the
water
plant.
L
C
We
need
to
then
revise
that
that
16.6,
it
looks
like.
L
L
M
I
just
wanted
to
say
going
back
to
the
previous
conversation
that
I
would
like
to
see
or
have
a
conversation
about
how
we
might
be
able
to
I
think
part
of
what
Laura
said
will
lead
to
us
not
being
able
to
invest
in
certain
parts
which
could
mean
that
if
the
equipment
is
left
alone,
we
could
be
leaving
it
in
a
dangerous
state
that
could
injure
people,
which
then
leads
to
the
question
of.
Do
we
just
need
to
remove
it
all
together
and
so
I
do
think.
M
The
question
of
I
would
like
to
understand
what
our
goals
are
in
terms
of
how
close
we
want
Parks
near
where
people
live.
I
do
think
this
is
important
because,
similar
to
the
pension
conversation,
we
have
to
understand
what
our
obligation
is
and
the
obligation
is
just
it's
up
it's
up
to
yes,
Council
and
we
could
have
Council
discuss
it
first,
but
I
think
we
have
enough
council
member
representation
on
this
committee
to
where
I
do
think.
M
It's
something
that
that
we
need
to
and
should
take
up
as
part
of
these
discussions,
because
we
have
to
understand
what
the
obligation
is
and
that's
based
on.
You
know
what
our
goals
are.
How
many
parks
are
enough?
Do
you
know
how
many
parties
do
we
need
to
satisfy
whatever
goals
we
have
so
I
I
didn't
want
that
to
get
lost,
because
at
the
next
meeting
I
would
like
to
even
see
on
the
map.
I
guess
just
you
know,
based
on
those
goals.
M
Where
are
areas
where
we
have
kind
of
full
coverage
based
on
those
goals
in
terms
of
parks
in
their
residential
areas?
Where
are
we
you
know?
Where
are
we
covered
more
than
we
you
know
need
to
be
or
in
in
terms
of
when
you
look
at
our
goal,
so
I
would
like
that
information,
because
I
think
for
me,
that's
what
will
help
me
move
the
discussion
along
so
I'd
like
to
see
that,
hopefully,
if
we
can
get
it
at
the
next
meeting,
I
don't
know
if
we
set
that
meeting.
M
A
I
personally
I
have
a
problem
with
the
25th,
which
is
in
two
weeks
but
I
I.
If
it
works
for
everybody
else,
then
I
just
might
not
be
able
to
be
here.
Someone
else
could
share
it
at
24th.
You
have
a
council
meeting,
so
that's
hard
that
that
week
is
not
I'm
out
that
that
week.
So
unless
we
did
August
1st
I
know,
we
said
not
doing
it
in
August,
but
would
August
one
I
think
we're
going
to
need
to
correspond
and
say
what
what
date
works.
Okay,
I
guess.