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 Monday, May 12, 2025, 4:00 PM City Hall Community Room 1. Call to Order, Roll Call, and Confirmation of Compliance with the Open Meetings Law. Administrator Honer called the meeting to order at 4:00 pm. Keith Burrows, Chair Excused Mike Christensen Present Chris Goodney Present Others Present: Administrator Matt Honer, Clerk-Treasurer Christy Skelding, Deputy Clerk-Treasurer Renee Rolli APPROVAL OF APRIL 7, 2025 MINUTES Motion (Goodney/Christensen) to approve April 7, 2025 minutes. Motion carried, all voting aye (2-0). DISCUSSION OF FINANCIAL MANAGEMENT PLAN. Administrator Honer sent a sample Financial Management Plan to the committee. The City has never done a Financial Management Plan. Honer reached out to BAIRD to get information on creating a Financial Mangement Plan to better plan for future projects. The committee discussed what is involved in this process. DISCUSSION AND CONSIDERATION OF THE BUDGET AND ENGINEERING CONTRACT FOR THE CORNISH HERITAGE PARK REVITALIZATION. Administrator Honer stated that this project began around the same time as the High Street project. The City has ARPA funds available to designate to this project in the amount of $37,500. Honer has also applied for a WEDC grant. There is a $50,000 donation to the project, and a $30,000 in-kind donation, among other monetary donations. Vierbicher has been great to work with. The engineering amount is $21,750. The City is hoping to have this project complete by the end of the year. Motion (Christensen/Goodney) to recommend Council approval the budget and engineering contract with Vierbicher for the Cornish Heritage Park Revitalization. Motion carried, all voting aye (2-0). REVIEW MONTHLY TREASURER’S AND BUDGET REPORTS AND MONTHLY BILLS. The City is 33% of the way through the year. Revenues and expenses are tracking as expected. The total for the year is 40% of revenue and 46% of expenses. Percentages are a bit higher due to annual payments made at the beginning of the year. LGIP rates stayed the same at 4.39%. 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 Motion (Christensen/Goodney) to accept monthly Treasurer’s and Budget Reports and place on file, and recommend council approval of the monthly bills. Motion carried, all voting aye (2-0). DISCUSSION OF OTHER FINANCE MATTERS The draft audit will be reviewed at an upcoming meeting. ADJOURN Motion (Goodney/Christensen) to adjourn at 4:45 pm. Motion carried, all voting aye (2-0). OFFICE OF THE CITY CLERK-TREASURER Mayor – Danny Clark City Administrator | Matthew Honer | administrator@cityofmineralpointwi.gov City Clerk-Treasurer | Christy Skelding | cityclerk@cityofmineralpointwi.gov