PRINCETON — Budget funds and insurance premiums were two of the topics discussed at Monday’s meeting of the Princeton Park Board.
Executive Director Elaine Russell presented information on seven of the smaller funds for the 2013-14 fiscal year, with the larger corporate and enterprise/Metro Center funds to be reviewed in coming weeks.
Russell said the paving and lighting fund and the audit fund have been capped as far as maximum rates of property taxes. The workman’s compensation fund, liability insurance, IMRF, Social Security fund and unemployment still have the ability to be increased when necessary as far as property tax rates.
The paving and lighting fund is currently more of a savings account, with that money being saved from year-to-year to accumulate money for larger projects, Russell said. The park district staff is still working on the departmental budgets for the crucial corporate and enterprise/Metro Center funds, she said.
In looking at needed projects for the 2013-14 year, Russell said the Metro Center parking lot repair work will be divided between the 2012-13 and the 2013-14 fiscal years. The Zearing Park walking path will be repaved and funded in the 2013-14 budget. There are also other possible larger park projects, but those will depend on the end-of-the-year balances in the funds, she said.
On Tuesday, Russell said the park district’s 2012 estimated equalized assessed valuation (EAV) was $149,000,000, which was a 0.25 percent increase over the 2011 year. Taxes not received by the park district in its 2012-13 budget was about $37,346, with only $307 due to uncollected taxes. The remainder of that decreased tax money was because of Perry Memorial Hospital going off the tax rolls. Additional adjustments to the park district’s 2013-14 budget will be made to accommodate these losses, Russell said.
In other business at Monday’s meeting, the board approved employee health, dental and life insurance premiums as presented by Russell. United Health Care covers the park district’s eight full-time employees at a monthly cost of $4,333. Companion Life covers nine employees’ dental care and 10 employees’ life insurance at a monthly cost of $490. The 12-month coverage for these 10 full-time employees will be $57,884, which is a $5,276 increase over last year’s coverage, Russell said.
Also, board President Gene Englehart commended board member Dick Volker on his involvement on the Joint Legislative Committee for the Illinois Association of Park Districts. Volker is the only one of the 12 committee members from downstate Illinois, with the other committee members being from the Chicago area, Englehart said.
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