Hugh Masterson: Candidate profile

Bio

Name: Hugh Masterson

City: Inverness

Office sought: Trustee

Age (on Election Day): 55

Family: Wife: Susan Children: Megan, Hugh, Katherine, John

Occupation: Owner and operator of the Hugh Masterson State Farm Insurance Agency

Education: Elmhurst College graduate 1986

Civic involvement: Palatine Rotary Club, Palatine Chamber of Commerce, American Legion Post 690, Saint Theresa Catholic School, Former Board Member for Saint Viator High School and the Society for the Preservation of Human Dignity (PHD)

Previous elected offices held: N/A

Incumbent? If yes, when were you first elected?

Website:

Facebook: Masterson For Inverness Trustee

Twitter: Invernessgov

Issue questions

What are the most important issues facing your community and how do you intend to address them?

The Village Board needs to take greater action to consider ways we can support value creation in our Village. We have not recovered since the severe recession in 2010 in terms of Equalized Assessed Value. We need to evaluate ways we can promote increased property values and protect against erosion of EAV. Staff and the Board need to drill down to understand why our EAV is lagging. We need to verify that our codes and ordinances aren't creating obstacles to the redevelopment of obsolete housing stock. State and Federal assistance to local governments is declining. Our 2019 Budget shows Intergovernmental and Local Revenues are down over 2018. I have a concern we are facing a structural deficit in our budget: expenses are exceeding revenues. Our general fund balance is well over the Village's Reserve Policy: Actual reserves are $6.27M vs. policy which is $3.66M. More discussion is necessary to understand why the reserve policy is not being followed and how long can our reserves balance the budget if revenues do not recover. Improving how we communicate with Inverness residents. We need to expand outlets to include social media platforms, which is the preference of many of our younger demographics. I would work with staff to launch Facebook, Twitter and Instagram Accounts to enhance communication with residents and promote new initiatives and programs offered by the organization.

What makes you the best candidate for the job?

As an owner and operator of the Hugh Masterson State Farm Insurance Agency for 24 years I will bring a successful business, and financial acumen needed to manage the direction and budget of our community. As an Inverness resident of 20 years I will bring insightful community knowledge to the table. Also, on a daily basis, I am helping people manage the risks of everyday life by helping them protect their families. Along with my business background, I believe my experience as a risk manager and my dedication to helping families will translate to being a successful Inverness Trustee.

Describe your leadership style and explain how you think that will be effective in producing actions and decisions with your village board or city council.

I am a team player who works out issues in a respectful, constructive and collaborative manner. Each trustee brings different experiences and ideas to the table. We must respect those ideas and experience's and find the best solution for our residents.

How would you describe the condition of your community's budget, and what are the most important specific actions the town should take to assure providing the level of services people want?

I would consider the budget to be well organized and reinforced with significant cash reserves. The Village has received a AAA rating from S & P, based on strong wealth and income levels of our residents, low debt, strong reserves and flexibility in introducing new taxes. There are a few warning signs that I believe require public discussion as part of the upcoming budget hearings. The 2019 Budget highlights expenses of $4.31M and revenues of $3.44M. This deficit will require a transfer from reserves to balance the budget. The Village should discuss during the public hearing whether the declining revenues from Intergovernmental and Local taxes will create a structural deficit in the Village spending plan. In 2013 the Board established a fund balance policy that requires reserves equal to one year of Village expenses. The actual fund balance reserves presented in the 2018 Audit are closer to two years of Village expenses. The Board should consider options to draw down reserves to abate the property tax, which would result in tax relief for our residents and keep reserves to a level consistent with the approved fund balance policy. Also of concern, the Village property tax rate has gone up by 93 percent from 2007 to 2017. As mentioned earlier, the Village has not recovered from the recession and property values are lagging. The reduction in EAV and increase in the property tax levy from this ten year period has resulted in the 93 percent rate increase. The Village Board and staff need to discuss out of the box ideas that will promote growth in our EAV and ensure our homes and Village remain vibrant.

What's one good idea you have to better the community that no one is talking about yet?

I think it's time we ask our resident how we are doing and ask them if they are satisfied with the customer service. We need to set a baseline so we can measure how we are improving year to year on are service delivery. We need to ask are residents if they feel there is value in what they pay in property taxes and fees to the village.