Thursday, February 28, 2013
The new three-year deal between Oak Forest and Sikich LLP for auditing services continues the pair's five-year relationship. The contract calls for two minor bumps in costs in year two and three, and can be extended an additional two years.
The city of Oak Forest will continue to open its books to Sikich LLP for at least the next three years of auditing services, after aldermen Tuesday agreed to a new three-year contract. Sikich, which audited the city's books for the past five years, was lauded by Oak Forest Finance Director Colleen Julian for their work during the previous contract. “We have been with Sikich for the last five years and I think they have a large presence in the municipal audit field,” Julian said. “They've done a great job.” The contract with the city did not go out to open bid, Julian said, because of the relationship Sikich and the city have developed. “If I thought it would add a lot of benefit to the city, I would recommend going out and looking at other…
Thursday, January 24, 2013
The city of Oak Forest has a new $1 million line of credit with MB Financial following the approval of an agreement between the two entities by the Oak Forest city council. This is the third such move by the city ever.
The City of Oak Forest has a new credit line with MB Financial after the city council voted to extend a previous agreement with the bank until Oct. 16, 2013. Previously, the city executed an agreement with the bank in October of 2010 to borrow $2 million during a one-year term. “This has become routine business in the last few years,” said Colleen Julian, Oak Forest's Finance Director. “That we do need a line of credit for short-term needs.” Julian said that the city needs access to funds like this during fiscally slim times, and that the money would only be used when absolutely necessary. “We do experience inadequate liquidity at times, so I just encourage your support,” Julian told the council. The money could be used in instances such …
Thursday, December 20, 2012
Aldermen were split 4-to-2 in the vote to approve the levy, which raises real estate taxes for Oak Forest residents by about $27. The levy includes a $500,000 payment into the city's reserve fund, with a goal of reaching $3.5 million in reserves by 20
Oak Forest residents will have to shell out more of their hard-earned cash in taxes, after aldermen approved the 2012 tax levy. Residents in Oak Forest will pay about an additional $27 to the city in real estate tax due to the levy. The levy, which totals $8 million, is 3.08 percent—or $240,031—higher than last year's levy, said city Finance Director Colleen Julian. The city arrived at that number after several meetings and by taking into account factors such as a deficiency in the general fund balance, city employee wages and other issues. “The 3 percent presented today will sustain the 117 full-time employees that are currently in the budget,” Julian said. “It has a $500,000 surplus that is intended to go into reserves, to build our …
Thursday, November 15, 2012
The Oak Forest City Council approved a new three-year contract with World Data Systems in Tinley Park to process the city's credit card payments. The contract is expected to save the city more than $12,000 per year.
The City of Oak Forest is going to be saving a bit of change over the course of the next three years, thanks to a new contract with World Data Systems to handle the city's credit card transaction processing. Since 2007, the city has allowed residents to pay for tickets, vehicle stickers and various other city-related costs by credit card. Previously, the city paid about $21,000 per year to its former credit card processor. Under the new contract, the city will pay just over $8,100—a savings of more than $12,000. “It was just best practice to go out and see what the rates were,” said Finance Director Colleen Julian. “We're going to see some significant savings. They've offered some rates just specifically for municipalities, so we're going …
Wednesday, October 10, 2012
The Oak Forest City Council approved a measure to refund 2004 bonds and issue 2012 bonds, possibly saving the city more than $700,000. The savings would stem from a lower interest rate, with the money earmarked for capital needs.
The city of Oak Forest could have a nice chunk of change—possibly up to $700,000—coming its way in a few weeks, thanks to a bond reissuing that was approved by the city council on Tuesday, Oct 9. The bond re-issuance comes after a decrease in interest expense, according to Finance Director Colleen Julian. “We can't lose here, this is after all the costs,” Julian said. “My thought is that, 'God, we've taken quite a few hits over the years because of the bad economy, this is the payback.'” Reissued bonds would be part of Series 2012 and would refund Series 2004 A bonds, with the issuance not to exceed $10 million, according to Julian. Julian told the council that there are two options for receiving the money, once the bonds are put on the …
Thursday, August 16, 2012
In the last 12 months, Oak Forest has processed $735,000 in credit card transactions. Currently, the city is seeking a match for electronic data credit card payment services, which allows residents to pay various fees with a credit card.
Paying off tickets, your water bill and other city fees will continue to be as easy as swiping your credit card, once the bids for Oak Forest's credit processing needs are submitted on Aug. 31. On Aug. 8, the City went to bid for electronic data credit card payment services, which would continue to allow residents to pay for bills and tickets with their plastic. “Mainly water and vehicle stickers are the big ones,” said Colleen Julian, Oak Forest's finance director. “Police tickets and violations, anything like that, that we collect.” According to the bid sheet, ideally the program would accept Visa, Mastercard and Discover credit cards. The city will accept the lowest responsible bid and the contract will run for two years. It also states…
Wednesday, March 28, 2012
Mayor Hank Kuspa and aldermen share their thoughts on why a 1 percent sales tax increase is needed, and what the money could mean for the city.
Shopping in Oak Forest got a bit more expensive Tuesday night, as the Oak Forest City Council voted 5–0 in favor of a 1 percent home-rules sales tax increase. The increase will go into effect July 1 and will apply to tangible personal items, excluding nonprepared food, medicine and automobiles. The tax was implemented to help the city recover from a $4.2 shortfall in income, sales and utility tax revenue over the past four years. Administrators previously reported the city has cut full-time staff by 12 percent and part-time by 50 percent, along with delaying the purchase of vehicles and equipment within the city. "This is the last resort, I think we all know," Julian said. "After three years, we have been battling declining revenues, …
41.611247
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City of Oak Forest
15440 Central Ave, Oak Forest, IL
/articles/officials-react-what-the-new-home-rule-sales-tax-means-for-oak-forest
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Wednesday, January 25, 2012
Alderman Dan Ensing was the lone dissenter, saying he believes the city should explore other options before increasing fees.
City of Oak Forest aldermen voted 5 to 1 Tuesday, Jan. 24 to increase residents' water fees by $1 per 1,000 gallons used—almost two weeks after officials had tabled the issue. Ald. Richard Simon was not present at Tuesday's meeting; Ald. Charles Toland said Simon is dealing with a personal situation. The lone dissenter against the hike—which is the result of a 25 percent increase in water supply costs enacted by the city of Chicago—was Ald. Dan Ensing (5th Ward). "Nobody wants to see the water rates increase at this point," Ensing said after Tuesday's meeting. "Nobody wants to see anything increase." The rates will take effect on Feb. 1. The average resident should expect to see a $20 increase per quarter. The increase will reportedly…
41.611247
-87.756273
City of Oak Forest
15440 Central Ave, Oak Forest, IL
/articles/city-council-passes-local-water-rate-hike
1354162
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Thursday, December 15, 2011
After much mulling in six meetings, aldermen agree to increase over the "no" votes of two aldermen.
Oak Forest homeowners can expect roughly a $41 increase in real estate taxes in the coming year, after Oak Forest aldermen approved a nearly 5 percent increase in the tax levy on Dec. 13. Finance Director Colleen Julian explained that the tax levy is more than a $370,000 increase from last year, but is nowhere near the increase cap of $1.1 million or 15 percent that officials decided to put on real estate taxes. After six discussions, the levy approval did not come without dispute. Ald. Daniel Ensing (5th Ward) said he regretted he could not make the first of six meetings about the tax levy, but did not agree with the increase, stating that residents’ taxes are going up but the city is not providing more services. He disagreed with Julian …
phxdr
11:00 pm on Thursday, February 28, 2013
Brian- Someone is paying attention aren't they? You have to understand (which I think you already do), that dealing with the city of Oak Forest officals is like dealing with a used car salesman. You often times hear some things that are not reality but investigate on your own and you see the real picture. There is NO excuse this comming election for incumbents to be re-elected....NONE! There … more ›