Finance Committee

900 Quay Street City of Manitowoc Manitowoc, WI 54220 www.manitowoc.org Meeting Minutes Finance Committee Tuesday, August 6, 2024 5:30 PM Council Chambers / Virtual (Via Zoom) 1. Call to Order 2. Roll Call Present: 4- Brey, Reckelberg, Sitkiewitz and Norell Excused: 1- Schlei 3. Public Comment Finance Committee Chair Alderperson Brey declared the meeting open for public comment. In accordance with policy, the public comment portion of the meeting is not made part of the official record. 4. Consent Agenda These items will be approved by one motion unless any Committee Member wishes to remove an item for discussion. Any Committee Member may request removal of any item from the Consent Agenda, and such item shall be removed without debate or vote. Any item or part thereof removed from the Consent Agenda shall be separately considered. REMOVAL OF CONSENT AGENDA ITEMS: 24-1719 - 2nd Qtr. 2024 Capital Allocation Working Group (CAWG) Request Log Report, removed by Alderperson Reckelberg Approval of the Consent Agenda Moved by Reckelberg, seconded by Sitkiewitz, to accept the Consent Agenda Items and recommendations of the various committees. The motion carried by the following vote: Aye: 4- Brey, Reckelberg, Sitkiewitz and Norell Excused: 1- Schlei 24-1714 Minutes of July 2, 2024 Finance Committee Meeting, recommending approval and place on file Attachments: 7-2-2024 Finance Committee Minutes 24-1715 Minutes of the June 24, 2024 Manitowoc Public Utilities (MPU) Commission City of Manitowoc Page 1 Finance Committee Meeting Minutes August 6, 2024 Meeting, recommending accepting and place on file Attachments: MPU 2024-06-24 Minutes 24-1716 2nd Qtr. 2024 Budget Exception Report, recommending approval and place on file Attachments: Q2 2024 Budget Exception Report for Fin Comm 24-1717 2nd Qtr. 2024 Internal Controls To Prevent Fraud Report, recommending approval and place on file Attachments: 2024_02 Check List for Finance Committee 24-1718 2nd Qtr. 2024 Investment Report, recommending approval and place on file Attachments: Q2 2024 Investment Reconciliation 5. Discussion and Action Items 24-1719 2nd Qtr. 2024 Capital Allocation Working Group (CAWG) Request Log Report, recommending approval and place on file Attachments: Q2 2024 CAWG Report Moved by Reckelberg, seconded by Sitkiewitz, that this Report be accepted and placed on file. The motion carried by the following vote: Aye: 4- Brey, Reckelberg, Sitkiewitz and Norell Excused: 1- Schlei 24-1720 2nd Qtr. 2024 Claims Report from City Attorney's Office Attachments: Jan-June 2024- Claims Report To Finance- Qtr 2 Moved by Sitkiewitz, seconded by Reckelberg, that this Report be accepted and placed on file. The motion carried by the following vote: Aye: 4- Brey, Reckelberg, Sitkiewitz and Norell Excused: 1- Schlei 24-1721 Scope of Engagement Re: Proposed Issuance of Approximately $1,052,000 City of Manitowoc ("City") Taxable Private LSL Replacement Loan Program Revenue Bonds, Series 2024 (Safe Drinking Water Loan; Project 5191-17) Attachments: Manitowoc, C of - 2024 SDW-Scope Letter (Project 5191-17) Moved by Sitkiewitz, seconded by Norell, to approve the Scope of Engagement and enter into the contract. The motion carried by the following vote: Aye: 4- Brey, Reckelberg, Sitkiewitz and Norell Excused: 1- Schlei City of Manitowoc Page 2 Finance Committee Meeting Minutes August 6, 2024 24-1722 Scope of Engagement Re: Proposed Issuance of Approximately $680,000 City of Manitowoc ("City") Taxable Private LSL Replacement Loan Program Revenue Bonds, Series 2024 (Safe Drinking Water Loan; Project 5191-18) Attachments: Manitowoc, C of - 2024 SDW-Scope Letter (Project 5191-18) Moved by Sitkiewitz, seconded by Norell, to approve the Scope of Engagement and enter into the contract. The motion carried by the following vote: Aye: 4- Brey, Reckelberg, Sitkiewitz and Norell Excused: 1- Schlei 24-1723 WI DNR Wisconsin Assessment Monies (WAM) Grant Agreement for $75,000 for River Point Phase 3 Attachments: Email from Community Development Director re_WCM-010 WCM-010 Award - Manitowoc - Packet Moved by Reckelberg, seconded by Sitkiewitz, to accept the Grant and authorize the Mayor and City Clerk to sign the appropriate documents. The motion carried by the following vote: Aye: 4- Brey, Reckelberg, Sitkiewitz and Norell Excused: 1- Schlei 24-1724 Grant Management Policy Moved by Sitkiewitz, seconded by Norell, that this document be placed on file. The motion carried by the following vote: Aye: 4- Brey, Reckelberg, Sitkiewitz and Norell Excused: 1- Schlei 24-1727 3 Year Contract for Cellular/Wireless Service for the City of Manitowoc with New-Cell, LLC DBA CellCom Attachments: Business Unlimited Plus Rate Plan First Responders Plan Preferred Reg Govt $0 Access Moved by Sitkiewitz, seconded by Reckelberg, that this Agreement be approved. The motion carried by the following vote: Aye: 4- Brey, Reckelberg, Sitkiewitz and Norell Excused: 1- Schlei 6. Closed Session City of Manitowoc Page 3 Finance Committee Meeting Minutes August 6, 2024 Notice is hereby given that the above governmental body may adjourn into a closed session during the meeting as authorized by Section 19.85(1)(g) of the Wisconsin Statutes, which authorizes the governmental body to convene in closed session for the purpose of conferring with legal counsel for the governmental body who is rendering oral or written advice concerning strategy to be adopted by the body with respect to litigation in which it is or is likely to become involved. The specific subject matter that may be considered in closed session is: 24-1725 L24-00070 Gallenberger Claim for Vehicle Damage >$5,000 Attachments: Notice of Claim Notice is hereby given that the above governmental body may adjourn into a closed session during the meeting as authorized by Section 19.85(1)(e) of the Wisconsin Statutes, which authorizes the governmental body to convene in closed session for the purpose of deliberating or negotiating the purchasing of public properties, the investing of public funds, or conducting other specified public business, whenever competitive or bargaining reasons require a closed session. The specific subject matter that may be considered in closed session is: 24-1446 City Potential Land Purchase Attachments: PARK PLAZA PURCHASE AGREEMENT FOR FUTURE STORMWATER POND 24-1726 Former Lakeshore and Mid-Cities Mall Properties Development Agreement Scenarios Moved by Reckelberg, seconded by Sitkiewitz, that this meeting be convened in closed session. The motion carried by the following roll call vote: Aye: 4- Brey, Reckelberg, Sitkiewitz and Norell Excused: 1- Schlei 7. Reconvene In Open Session Moved by Reckelberg, seconded by Sitkiewitz, that this meeting be reconvened in open session. The motion carried by the following roll call vote: Aye: 4- Brey, Reckelberg, Sitkiewitz and Norell Excused: 1- Schlei 24-1446 City Potential Land Purchase Attachments: PARK PLAZA PURCHASE AGREEMENT FOR FUTURE STORMWATER POND City of Manitowoc Page 4 Finance Committee Meeting Minutes August 6, 2024 Moved by Sitkiewitz, seconded by Norell, to enter into this Agreement and have City staff execute the required documents to purchase the property. The motion carried by the following vote: Aye: 4- Brey, Reckelberg, Sitkiewitz and Norell Excused: 1- Schlei 24-1725 L24-00070 Gallenberger Claim for Vehicle Damage >$5,000 Attachments: Notice of Claim Moved by Reckelberg, seconded by Norell, that this Claim be denied. The motion carried by the following vote: Aye: 4- Brey, Reckelberg, Sitkiewitz and Norell Excused: 1- Schlei 8. Adjournment Moved by Reckelberg, seconded by Sitkiewitz, that this meeting be adjourned. The motion carried by the following vote: Aye: 4- Brey, Reckelberg, Sitkiewitz and Norell Excused: 1- Schlei City of Manitowoc Page 5