Finance Committee Meeting

CITY OF MINERAL POINT 137 HIGH STREET, SUITE 1 MINERAL POINT, WI 53565 608-987-2361 MINUTES CITY OF MINERAL POINT FINANCE COMMITTEE MEETING Wednesday, October 23, 2024, 4:00 PM City Hall Community Room 1. Call to Order, Roll Call, and Confirmation of Compliance with the Open Meetings Law. Chair Galle called the meeting to order at 4:00pm. Gary Galle, Chair Present Keith Burrows Present Dean Martin Present Others Present: Administrator Honer, Clerk-Treasurer Christy Skelding, Deputy Clerk-Treasurer Renee Rolli, Jared Weier APPROVAL OF OCTOBER 7, 2024 MINUTES Motion (Martin/Burrows) to approve October 7, 2024 minutes. Motion carried, all voting aye (3-0). PUBLIC COMMENT RELATED TO THE 2025 BUDGET - None. DISCUSSION AND POSSIBLE CONSIDERATION OF DRAFT ARPA OBLIGATION PLAN Administrator Honer shared the draft ARPA obligation plan in the meeting packet that was disbursed to committee members. In February 2024, the City adopted an ARPA budget. Administration has recently learned that the money needs to be obligated by the end of 2024, not just designated, meaning there should be a contract in place, in order to spend the money by the end of 2026. Funds have been budgeted, and in the November or December Council meetings, funds will all be obligated. Administrator Honer discussed the list of items to be obligated by the end of 2024, which have not changed much since February 2024. Alder Galle stated concern regarding obligating funds for a commercial child care facility. Alder Burrows stated it is very valuable for the City to get a commercial child care facility, if possible. He would like to see the Church pay toward this as well as their facility is where this commercial child care would take place, but he believes that this is an important and valuable thing for the City. All Finance Committee members believe this is a good ARPA plan. Administrator Honer will present this for action at the next Finance Meeting. No action taken. OFFICE OF THE CITY CLERK-TREASURER Mayor – Danny Clark City Administrator | Matthew Honer | administrator@cityofmineralpointwi.gov City Clerk-Treasurer | Christy Skelding | cityclerk@cityofmineralpointwi.gov  CITY OF MINERAL POINT 137 HIGH STREET, SUITE 1 MINERAL POINT, WI 53565 608-987-2361 DISCUSSION OF DRAFT 2025 CAPITAL IMPROVEMENTS PLAN Administrator Honer explained the draft 2025 Capital Improvements Plan. He received a quote from Renaissance Restoration on tuckpointing the front of City Hall with the limestone veneer, which came in at $24,000. He will receive two more quotes and then take it to the Public Property and Health Committee. The Capital Improvements plan consists of work to be done on the Opera House marquee, the Soldiers Memorial Park house removal, energy efficiency upgrades for the City, communications and tech upgrades, HVAC upgrades, and the Davis Street project. This Capital Improvements money was borrowed at the end of 2023. No action taken. DISCUSSION OF DRAFT 2025 BUDGET Administrator Honer sent out a draft of the City’s 2025 budget, and discussed with the committee. There was a lot of time spent this year disussing what the City’s funds are to create this document. The state requires a certain format for the General Fund, in which Administration updated this year. There is a 3.2% increase in expenditures, with expenditure restraint being at 4%. The mill rate will decrease $.01. Committee members had no questions regarding the draft budget. Next Finance meeting is Tuesday, November 12 at 12:30pm. ADJOURN Motion (Galle/Martin) to adjourn at 4:49 pm. Motion carried, all voting aye (3-0). OFFICE OF THE CITY CLERK-TREASURER Mayor – Danny Clark City Administrator | Matthew Honer | administrator@cityofmineralpointwi.gov City Clerk-Treasurer | Christy Skelding | cityclerk@cityofmineralpointwi.gov