Financial Advisory Board — Naperville, IL
Date: 2018-04-30

400 S. Eagle Street
 City of Naperville Naperville, IL 60540



 Meeting Agenda

 Financial Advisory Board

Monday, April 30, 2018 6:00 PM NEU




A. CALL TO ORDER:

B. ROLL CALL:

C. PUBLIC FORUM:

D. REPORTS:
1. 18-368 Approval of January 29, 2018 Minutes

 Attachments: January 29, 2018 FAB meeting minutes

2. 18-369 Quarterly Review of Investments

 Attachments: City of Naperville 1Q18 Report Package

3. 18-372 Review of Q1 Financial Performance

 Attachments: 2018 Q1 Financial Report


F. OLD BUSINESS:
1. 18-370 Update on Revisions to the City’s Investment and Cash Management
 Policy
 Attachments: City Council agenda item regarding investment and cash management policy
 Oridnance approved on February 6, 2018


E. NEW BUSINESS:
1. 18-373 Review of the City’s Financial Advisory Board Dashboard

 Attachments: FAB Dashboard

2. 18-371 Review the City’s Current Reserve Policies

 Attachments: Electric and Water.Wastewater 30-day working capital reserve
 General fund reserve policy




City of Naperville Page 1 Printed on 4/27/2018
Financial Advisory Board Meeting Agenda April 30, 2018



G. ADJOURNMENT:
 Any individual with a disability requesting a reasonable accommodation in order to
 participate in a public meeting should contact the Communications Department at least
 48 hours in advance of the scheduled meeting. The Communications Department can
 be reached in person at 400 S. Eagle Street, Naperville, IL., via telephone at
 630-420-6707 or 630-305-5205 (TDD) or via e-mail at info@naperville.il.us. Every effort
 will be made to allow for meeting participation.




City of Naperville Page 2 Printed on 4/27/2018

City of Naperville

 400 S. Eagle Street
 Naperville, IL 60540




 Meeting Minutes

 Monday, April 30, 2018

 6:00 PM



 NEU



Financial Advisory Board
Financial Advisory Board Meeting Minutes April 30, 2018


A. CALL TO ORDER:

 Chairman Wik called the meeting to order at 6:03 p.m.

B. ROLL CALL:

 Present: Chairman Wik; Member Davidson; Member Gannon; Member
 Millington; Member Wade
 Absent: Member Isaac; Member Klein; John Krummen - Council Ex-Officio
 Also Present: Rachel Mayer, Finance Director; Erik Hallgren, Financial Services
 Supervisor; Franco Bottalico, Budget Analyst

C. PUBLIC FORUM:

 None

D. REPORTS:

1. Approval of January 29, 2018 Minutes

 Member Davidson made a motion, seconded by Member Gannon, to approve
 the January 29, 2018 meeting minutes.

 The motion carried by the following vote:
 Aye: 5 - Wik, Davidson, Gannon, Millington, Wade
 Nay: 0

2. Quarterly Review of Investments

 Mike Piotrowski from Marquette Associates updated the FAB on its 1st quarter
 report.

 It was the consensus of the FAB for Mike Piotrowski to revise the quarterly
 reports to include additional information on market value history at an aggregate
 level, and money market funds.

3. Review of Q1 Financial Performance

 Erik Hallgren presented the CY2018 budget performance report for quarter 1.
 Erik Hallgren stated that he has included a year-to-date projections column to
 this report, and noted some slight variances due to the transition to a new ERP
 system.

F. OLD BUSINESS:

1. Update on Revisions to the City’s Investment and Cash Management Policy

 Rachel Mayer updated the FAB that the City Council has adopted their
 recommendations to the cash investment policy as ordinance.

E. NEW BUSINESS:

City of Naperville Page 1 Printed on 12/21/2018
Financial Advisory Board Meeting Minutes April 30, 2018



1. Review of the City’s Financial Advisory Board Dashboard

 Erik Hallgren presented the FAB a dashboard of the City's finances.

 It was the consensus of the FAB to have the dashboard be no more than two
 pages. The first page will include information that changes on a monthly basis
 such as certain taxes, and the second page will consist of static information
 that doesn't change as frequently such as employee headcount, reserve levels,
 etc.


2. Review the City’s Current Reserve Policies

 The FAB discussed the City's current reserve policies.

 It was the consensus of the FAB to establish a working group at the next
 meeting to create a framework on the reserve policies. Rachel Mayer stated
 that one goal is to understand what the appropriate reserve levels are.

G. ADJOURNMENT:

 Member Davidson made a motion, seconded by Member Wade, to adjourn the
 regular FAB meeting of April 30, 2018 at 7:28 p.m.

 The motion carried by the following vote:
 Aye: 5 - Wik, Davidson, Gannon, Millington, Wade
 Nay: 0




 Rachel Mayer, Finance Director
 Franco Bottalico, Budget Analyst




City of Naperville Page 2 Printed on 12/21/2018