Call to Order and Roll Call
The Governance Committee called the meeting to order at 6 pm.
Present: Megan Butman (Board Trustee, Governance Chair), Colin Bird-Martinez (Board Trustee, Finance Chair), Elsworth Carman (Executive Director), Billy Treece (Director of Finance & Human Resources)
Public commentators: none
Public Comments
No public comments were received in person or in writing for this meeting.
Facilities Master Plan Presentation (Woolpert)
Woolpert Inc, gave a presentation on the Facilities Master Plan. Woolpert has designed the original building of the Oak Park Public Library, along with working previously on buildings at: St. Charles Library, Ridgeland Commons, Lisle Library and more. The Facilities Master Plan will include a: Visioning Phase, Programming Phase, Concept Master Plan Phase and a Concept Master Plan Phase.
The Visioning Phase involves collaboration among community members, staff, and architects to establish a shared understanding of the library’s future direction. Engagement methods during this phase include surveys, community sessions, and focus groups. The Programming Phase focuses on defining the types of programs the library will offer and assessing space needs based on the service model and future vision. During the Concept Master Plan Phase, conceptual ideas for the library’s design will be explored, including preliminary layouts and potential spatial reconfigurations. The Cost Estimate Phase will involve developing projections and evaluating feasibility along with funding strategies.
The timeline will begin with staff and the Finance Committee in February 2026, with the process anticipated to continue through Fall 2026. The Committee also discussed community messaging, including what information will be shared with the public, and plans to distribute a survey via the Village of Oak Park OPFYI one-page mailer in March.
January 2026 Financial Statement of Revenue & Expenditure
The Finance Committee reviewed the January 2026 Statement of Revenue and Expenditure, focusing on key areas including revenue, reserves and interest, and expenses. It was reported that $4.5 million in revenue has been received, representing approximately 80% of the total amount owed. The Committee also discussed the potential reallocation of a portion of current-year revenue to the previous fiscal year. For Reserves and Interest, interest income was reported to be lower due to the use of reserve funds. Expenses are currently at 9.49%, with certain costs front-loaded at the start of the year, including insurance and software.
Fund Balance Policy
The Finance Committee reviewed the fund balance policy, including discussion of assigned and unassigned funds. The target reserve level is 50%, and when reserves exceed 75%, any excess is required to be assigned to capital. Historical reserve levels were noted to range between 40–48%, with the current figure at 42%. The Board is required to restore reserves to 50% within three years or less if they fall below the policy threshold. The Committee also discussed the potential establishment of a Special Reserve Fund to serve as a funding mechanism for the Facilities Master Plan, likely as a dedicated capital planning reserve.
Adjournment
The Finance Committee adjourned the meeting at 7:24 pm.