Vermilion finance committee implements bank reconciliation policy
The Vermilion County Finance and Personnel Committee met Thursday to implement a bank reconciliation policy.
Here are the meeting's minutes, as provided by the committee:
Finance & Personnel Committee Monday, January 9, 2016 5:15 PM, Room 319, Courthouse Annex
Agenda Item 1 - Call to Order and Roll Call Acting Chairman Marron called the Finance/Personnel meeting to order at 5:15 PM. Upon the call of the roll, the following members were present; Wes Bieritz, Robert Boyd, Darren Duncan, Todd Johnson, Becky Stark, and Bruce Stark. Steve Fourez was absent and excused. Also in attendance was Bill Wright, Vermilion County Auditor; Bill Donahue, Vermilion County State’s Attorney; Doug Toole, Director of the Vermilion County Health Department; Nancy O’Kane, Vermilion County Board Member; and Michael Marron, Vermilion County Board Chairman.
Agenda Item 2 - Election of Finance Committee Officers Bieritz motioned, seconded by Bruce Stark, to nominate Steve Fourez to Chair the Finance and Personnel Committee. The motion passed by acclamation. Johnson motioned seconded by Duncan to nominate Wes Bieritz as Vice Chair. The motion passed by acclamation
Agenda Item 3 - Adoption/Amendments to the Agenda Bruce Stark moved, seconded by Boyd, to adopt the agenda as presented. Motion passed by acclamation.
Agenda Item 4 - Approval of Minutes – September 12, 2016 Johnson moved, seconded by Bruce Stark, to approve the minutes as presented. Motion passed by acclamation.
Agenda Item 5 - Audience Comments None
Agenda Item 6 - Financial Update Mr. Bayard indicated that he had previously spoken to previous Finance Committee Chairman Fourez about what information would be most useful to the committee going forward. He outlined the format that he would use which would show a running monthly report on revenues and expenses as well as a report that compared actuals against the budget. He indicated it would allow the committee to identify any significant changes. Mr. Bayard also indicated that because of the increased data gathering and re- porting needed to close out of the year, final numbers were not yet available. Mr. Bruce Stark inquired about opportunities to expedite the reporting of final numbers acknowledging that it was an annual occurrence. Chairman Marron and Auditor Bill Wright outlined the structural issues which led to that which they were going to address with technology upgrades and a streamlined financial reporting pro- cess.
Agenda Item 7 – Resolution for a Bank Reconciliation Policy for Vermilion County Johnson moved, seconded by Bruce Stark, to approve a resolution to implement a Bank Reconciliation Policy. Stark asked what caused the county to have problems reconciling bank statements. Marron ex- plained that the majority of the problem stemmed from payroll, likely a result of unclaimed checks that were issued. Stark asked if it were possible for the County to reclaim the funds, Marron and State’s Attorney Bill Donahue reported that there were legal restrictions that prevented the County from reclaim- ing the checks, however it could be transferred to the State and removed from the County’s books.
Upon the call of the roll the following members voted yes to adopt the Bank Reconciliation Policy, to wit: Wes Bieritz, Robert Boyd, Darren Duncan, Todd Johnson, Becky Stark, and Bruce Stark. 6 yes, 1 absent.
Agenda item 8 – Orientation Treasurer’s Office Marron reported that the presentation scheduled to be given by the County Treasurer needed to be rescheduled for a later time.
Agenda Item 9 – Orientation Auditor’s Office Mr. Bill Wright addressed the committee and discussed the role of the Auditor. He also explained changes to the office that he hoped to achieve which would streamline many processes and utilize technology to make financial management and reporting more efficient and responsive.
Agenda Item 10 – Executive Session Not necessary
Agenda Item 11 - Items of Information Marron reported that he would like to have the Executive Committee create a five-year technology plan that would address the county’s equipment needs and keep it current with modern technology trends. Marron stated that he would also like to convene an Economic and Marketing Committee that would guide information dissemination regarding economic development. In addition, Marron explained that he intended to convene an Administrator Committee that would look into creating the position. He indicated that he had initial conversations with people about serving on the committee. Marron explained that the Finance and Personnel committee would serve as the arbiter for selecting an employee of the month.
Agenda Item 17 – Adjournment Committee Vice Chairman Bieritz adjourned the meeting at 6:20PM.
Organizations in this Story
7 N Vermilion St
Danville, IL - 61832