Financial Advisory Board — Naperville, IL
Date: 2019-01-28

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



 Meeting Agenda

 Financial Advisory Board

Monday, January 28, 2019 6:00 PM Finance Conf. Room 133




A. CALL TO ORDER:

B. ROLL CALL:

C. PUBLIC FORUM:

D. REPORTS:
 19-099 Receive the annual update from the City’s money manager - PFM Asset
 Management, LLC
 19-100 Receive the annual update from the City’s money manager - BMO Global
 Asset Management
 19-097 Receive the 2018 4th quarter investment report

 19-072 Approval of the August 20, 2018 special meeting minutes

 19-073 Approval of the October 23, 2018 meeting minutes

 19-074 Approval of the November 15, 2018 special meeting minutes

 19-075 Approval of the November 28, 2018 special meeting minutes

 19-076 Approval of the December 17, 2018 special meeting minutes

 19-098 Receive a financial report and review via the FAB Dashboard


E. NEW BUSINESS:
 19-094 Receive the report on the 2019 annual operating budget


F. OLD BUSINESS:
 19-096 Receive an update from Chairman Wik regarding the review process for
 the reserve and debt policies




City of Naperville Page 1 Printed on 1/23/2020
Financial Advisory Board Meeting Agenda January 28, 2019



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 1/23/2020

City of Naperville

 400 S. Eagle Street
 Naperville, IL 60540




 Meeting Minutes

  Monday, January 28, 2019

 6:00 PM



 Finance Conf. Room 133



Financial Advisory Board
Financial Advisory Board Meeting Minutes January 28, 2019


A. CALL TO ORDER:

 Chairman Wik called the meeting to order at 6:07 p.m.

B. ROLL CALL:

 Present: Chairman Wik; Member Gannon (via phone); Member Grover; Member
 Harvey; Member Laidman; Member Millington; Member Wade; Council
 Ex-Officio Krummen; Student Member Yang

 Absent: Student Member Stanula; Student Member Watson

 Also present: Rachel Mayer, Finance Director; Erik Hallgren, Budget Manager;
 Franco Bottalico, Budget Analyst

C. PUBLIC FORUM:

D. REPORTS:

 Receive the annual update from the City’s money manager - PFM Asset Management,
 LLC
 PFM Assest Management provided the FAB with its annual report.

 Receive the annual update from the City’s money manager - BMO Global Asset
 Management
 BMO Global Asset Management provided the FAB with its annual report.

 Receive the 2018 4th quarter investment report

 Mike Piotrowski, from Marquette Assocaites, updated the FAB on its 4th quarter
 report.




 Approval of the August 20, 2018 special meeting minutes

 Member Millington made a motion, seconded by Member Wade, to approve the
 August 20, 2018 special meeting minutes.

 Approval of the October 23, 2018 meeting minutes

 Member Millington made a motion, seconded by Member Wade, to approve the
 October 23, 2018 meeting minutes.

 Approval of the November 15, 2018 special meeting minutes

 Member Millington made a motion, seconded by Member Wade, to approve the
 November 15, 2018 special meeting minutes.

 Approval of the November 28, 2018 special meeting minutes
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Financial Advisory Board Meeting Minutes January 28, 2019


 Member Millington made a motion, seconded by Member Wade, to approve the
 November 28, 2018 special meeting minutes.

 Approval of the December 17, 2018 special meeting minutes

 Member Millington made a motion, seconded by Member Wade, to approve the
 December 17, 2018 special meeting minutes.

 Receive a financial report and review via the FAB Dashboard

 Erik Hallgren reviewed and discussed the FAB dashboard, and explained how
 the dashboard was formatted for the new members.

 A discussion ensued on the abilities of the dashboard and its future use.

E. NEW BUSINESS:

 Receive the report on the 2019 annual operating budget

 Erik Hallgren discussed the City's goals and initiatives that are included as part
 of the 2019 budget. He stated that the 2019 budget increased by 2% overall,
 and a 3.8% increaase in the general fund, when compared to 2018.

 A discussion ensued regarding the 2019 CIP projects and policy, and whether
 projects are classified as new or recurring

 Rachel Mayer described the CIP list and its budgetary review process.

F. OLD BUSINESS:

 Receive an update from Chairman Wik regarding the review process for the reserve and
 debt policies
 Chairman Wik briefed the new FAB members on the current work that has been
 done toward reviewing the City's current reserve policies.

 A discussion on future efforts and meetings ensued.

G. ADJOURNMENT:

 Member Millington made a motion, seconded by Member Wade, to adjourn the
 regular FAB meeting of January 28, 2019 at 8:36 p.m.

 Aye: 7 - Wik; Grover; Harvey; Laidman; Millington; Wade; Yang
 Nay: 0

 Franco Bottalico, Budget Analyst




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