Laona Heights Sugar River Colored Sands Sugar River Two Rivers Ferguson Hartley Memorial Trask Bridge Four Lakes Pecatonica River Pecatonica Wetlands Crooked River Grove Creek Seward Bluffs Klehm Forest Preserve Severson Dells Fuller Memorial Cedar Cliff Indian Hill Hinchliff Memorial Kilbuck Bluffs Trailside Kishwaukee Gorge South Kishwaukee Gorge North Rockford Rotary Kishwaukee River Oak Ridge Blackhawk Springs Deer Run Espenscheid Memorial McKiski County Line Kieselburg Roland Olson Stone Bridge Clayton Andrews Ledges Hononegah J. Norman Jensen Millrace Isle Macktown Atwood Homestead Forest Preserve Headquarters

Board of Commissioners Minutes April 26, 2017

Forest Preserves of Winnebago County

SPECIAL BOARD MEETING

Preserves Headquarters

April 26, 2017

 

PRESENT                                                                 STAFF

Judy Barnard                                                              Mike Holan, Executive Director

Mike Eickman                                                             Steve Chapman, Finance

Cheryl Maggio

Jake Henry

Gloria Lind – 5:35pm

 

ABSENT

Audrey Johnson

Jeff Tilly                                                                                                                    

 

 

ROLL CALL

The meeting was called to order at 5:30 PM, by President Barnard.  President Barnard called the roll.

 

PLEDGE OF ALLEGIANCE    President Barnard led the assemblage in the Pledge of Allegiance.

 

ACTION ITEMS

Investment Policy – A handout of the Public Funds Investment Act was passed out to the board members. This document covers the policy that the Forest Preserve needs to abide by in regards to investments.  The Preserves have funds for investment purposes.  It is prudent for the Preserves to have an Investment Policy for the purpose of safe guarding funds, equitably distributing the investments and maximizing income of the Preserves.  This Investment Policy applies to the invested activities of all funds under the jurisdiction of the Forest Preserves of Winnebago County Treasurer. At this point the Forest Preserve has three investments totaling about 2.3 million dollars with local institutions.

 

Jake Henry questioned the collateralization of investments per a comment in the Annual Sikich Audit from 2014. The comment in the Sikich Audit may have been an error, which Judy then asked Mike to get proof of the error.  Jake also questioned the signatures on the repurchasing agreements per the comments in the Sikich Audit. Judy again asked Mike to look into the comment on this matter. Judy asked if we could have Jason from Sikich come back to make sure the money was collateralized and protected.

 

In regards to the Investment Policy and signatures on Forest Preserve documents the board has agreed that we need at least 2 signatures for each of our documents, which would be either a board member or Executive Director and the Finance Director. The decision has not yet been made to who the second signature will be and the wording will be edited on the Investment Policy to state the need of 2 signatures. Due to the Forest Preserve not having a Finance Department, the Forest Preserve contracts with Winnebago County for the handling of our Investments, which is monitored by Steve Chapman, Forest Preserve Finance Director. Judy asked that the investment report be submitted with the bills monthly. For public record Judy would like to attach state statue, the Public Funds Investment Act, to the resolution for the record so they are all in one place. Steve will make the changes to the Investment Policy and bring it back to the next board meeting for adoption.

 

NEW BUSINESS

County of Winnebago and Winnebago County Forest Preserve District Intergovernmental Agreement for Administrative Services Audit – As part of the Intergovernmental Agreement for Administrative Services Audit done by the Winnebago County Auditor’s Office in February 2017, the County sent the Forest Preserve a letter with Audit Findings and Recommendations covering 8 different findings. Some of the findings include Payroll for Klehm Arboretum and health insurance for Forest Preserve employees. The Operations Committee at Winnebago County will still need to come back with different verbiage for the agreement and how they would like to amend the agreement. Mike will also be looking into what it would cost to separate these services from the County, hopefully in a transitional phase.

 

The Board of Commissioners is requesting to revise and/or prepare agreements with Severson Dells and Klehm Arboretum. To date we have an agreement with Severson Dells and Mike will look to see if we have an agreement with Klehm Arboretum.

 

ADJOURNMENT

Meeting adjourned at 7:07 PM.

Next board meeting 5:30 PM, Wednesday, May 17, Preserve Headquarters

 

Respectfully Submitted,

Kristy Knapp

Administrative Assistant