Finance Committee

900 Quay Street City of Manitowoc Manitowoc, WI 54220 www.manitowoc.org Meeting Minutes Finance Committee Thursday, November 15, 2018 5:30 PM City Hall First Floor Conference Room (West) 1. Call to Order 2. Roll Call Present: 5- Brey, Lotz, McMeans, Sitkiewitz and Williams 3. Public Comment Barbara Bundy Jost spoke on behalf of the Library. 4. Discussion and Action Items City of Manitowoc Page 1 Finance Committee Meeting Minutes November 15, 2018 18-1106 General City budget of proposed 2018 levy for 2019, in the amended amount of $15,593,418.63 with $879,538 in proposed tax incremental financing. Attachments: FINAL REPORT TO COUNCIL NOV 19 debt MAYOR RATING 2019 Cawg final KL w acct line 2018 Statement of Assessment FINAL Equated 2018 Tax LEVY by FUND.1 2018 Tax Levy RATE Worksheet Tax Levy Change Budget Worksheet 2019.8 Wheel Tax FAQ Parks Planner Justification DPI Laborer Justification Pay GO Items in Budget DPI Street Maintenance Costs 2019 Cawg Rating results MAYOR RATING 2019 Cawg final KL w acct line CAWG RATING Debt Service 6.5m repayment level Analysis Debt Service 7.0m repayment level Analysis Budget Items 5 percent downtown facade grant downtown facade grant application Parks Manager Information Example Grant Opportunities MAYOR RATING 2019 Cawg final KL w acct line CAWG RATING MAYOR RATING 2019 Cawg final KL w acct line CAWG RATING.2 Engineering Recommended Projects to Remove 2019 Budget Capital List with Engineering Proposed reductions Published 2019 Proposed Budget Moved by McMeans, seconded by Sitkiewitz, that this Action Item be accepted to remove from the proposed capital borrowing $1,230,000 from projects eliminated by the suggestion of the Engineering Department. The motion carried by the following vote: Aye: 5- Brey, Lotz, McMeans, Sitkiewitz and Williams Moved by Sitkiewitz, seconded by Williams, that this Action Item be accepted to move $38k to the Red Arrow memorial from the Parks Upgrades for playground equipment. The motion carried by the following vote: Aye: 5- Brey, Lotz, McMeans, Sitkiewitz and Williams City of Manitowoc Page 2 Finance Committee Meeting Minutes November 15, 2018 Amendment #1 Moved by Brey, seconded by Williams to use $101,000 from the additional revenues from Exempt Computer Aid and $9,000 from the additional revenues from interest income. Amendment #2 Moved by Sitkiewitz, seconded by McMeans to have a pay for performance policy in place by July 1, 2020. Moved by McMeans, seconded by Sitkiewitz, that this Action Item be accepted to add back the pay plan of $110,000. The motion carried by the following vote: Aye: 5- Brey, Lotz, McMeans, Sitkiewitz and Williams Moved by Sitkiewitz, seconded by McMeans, that this Action Item be accepted to add $25,000 from the additional revenues from Exempt Computer Aid to fund the trail connectivity plan. The motion carried by the following vote: Aye: 4- Brey, Lotz, McMeans and Sitkiewitz Nay: 1- Williams Moved by Sitkiewitz, seconded by McMeans, that this Action Item be accepted to remove $34,000 from the proposed levy and to accept the loan from the County. The motion carried by the following vote: Aye: 3- Brey, McMeans and Sitkiewitz Nay: 2- Lotz and Williams Moved by Sitkiewitz, seconded by Lotz, that this Action Item be accepted as amended and referred to Council. The motion carried by the following vote: Aye: 5- Brey, Lotz, McMeans, Sitkiewitz and Williams 5. Adjournment A motion was made by Todd Lotz, seconded by Scott McMeans to adjourn. City of Manitowoc Page 3