Glen Ellyn rolling out seven-member finance panel
When Mark Pfefferman was running for Glen Ellyn village president earlier this year, he frequently stressed the need for a finance commission that could advise the village board.
Pfefferman won the election and his vision will become a reality Friday morning when the village's new finance group meets for the first time.
Seven residents, with credentials ranging from investment banking to church leadership, are serving on the panel that will review the village's budget and financial profile.
Pfefferman said he has had the idea since his early days as a trustee in 2005. Immediately following his election as president he made creating the commission one of his first tasks.
"We have commissions on everything," he said Thursday, "but not on finances. It's probably the most important of our core services."
The commission meets at 7 a.m. in Room 301 of the Glen Ellyn Civic Center, 535 Duane St.
Each commissioner will serve a three-year term, although the village board did include a provision that allows it to review the panel's effectiveness after one year.
Pfefferman expects the first meeting to be mostly educational and the agenda indicates that. Among the items are setting regular meeting times and reviewing the ordinance that created the panel.
Pfefferman said creation of the group is not an indictment of the job Finance Director Jon Batek has been doing.
"The goal is to look at the village's finances from an objective and creative manner," he said. "It's a new way of looking at things."
Trustees passed a 1 percent sales tax increase in March aimed at helping offset a $2.6 million projected budget deficit. As part of his election campaign, Pfefferman said he hoped to establish the finance commission in an effort to repeal that tax within a year.
In August, Pfefferman named Randy Parker as chairman. Parker has been a principal partner with Glen Ellyn Homes for six years and worked 18 years as an investment banker.
A Glen Ellyn resident since 1985, Parker said the initial meeting will help bring all commissioners up to speed on municipal finances.
"It's pure and simple, an organizational meeting," he said. "It's the first step in the education process."
Parker said he thought the commission was a good idea.
"I was asked if I would get involved," he said. "I do feel a group of creative, experienced people from the finance industry can help."
As for Pfefferman, he said he understands the town faces financial challenges but he remains optimistic.
"The timing is not good," he said. "It's not like we're riding high. But hopefully, it'll be a head start. I hope good things will come of it."
<p class="factboxheadblack">Who's Who</p> <p class="News">Seven Glen Ellyn residents have been named to the village's finance commission:</p> <p class="News">• Randy Parker - Chairman of the commission. Principal partner in Glen Ellyn Homes since 2003. Master's degree in finance and accounting from Northwestern University. Named Glen Ellyn Person of Character in 2007.</p> <p class="News">• Chris Faber - Active in village's historical preservation group. Actively supports "Americans for Prosperity" and "The Mercatus Institute," both think tanks looking to improve government efficiency.</p> <p class="News">• Evan Geiselhart - Finance degree from University of Illinois. Twenty-four years in residential mortgage finance. Operates HomeTrust Mortgage Corporation, which specializes in home loans.</p> <p class="News">• Becky McCloskey - Seventeen years in banking, real estate and finance. Bachelor's degree from Northern Illinois University and master's from Northwestern University.</p> <p class="News">• Ted Moody - Master's degree in finance, accounting and policy studies from the University of Chicago. Has worked at Fortune 500 companies involved in corporate finance. Has provided financial advice to middle-market companies.</p> <p class="News">• Bert Nuehring - Partner with accounting and consulting firm of Crowe Horwath, LLP in Oak Brook. Public accountant for 24 years. Has done planning and administration for governmental and not-for-profit entities. </p> <p class="News">• Theodore "Tat" Skirvin - Certified public accountant. Has worked for 27 years in the insurance industry in finance and accounting. Vice president of corporate finance with an Itasca insurance broker. </p>