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, January 12, 2026, 4:00 PM City Hall Community Room Call to Order, Roll Call, and Confirmation of Compliance with the Open Meetings Law. Chair Burrows called the meeting to order at 4:00 pm. Clerk Skelding confirmed compliance with the open meetings laws. Keith Burrows, Chair Present Mike Christensen Present Chris Goodney Present Others Present: Administrator Matt Honer, Clerk-Treasurer Christy Skelding, Deputy Clerk-Treasurer Renee Rolli APPROVAL OF DECEMBER 8, 2025 MINUTES Motion (Goodney/Christensen) to approve the December 8, 2025, minutes. Motion carried, all voting aye (3-0). DISCUSSION OF REVOLVING LOAN FUND APPLICATION FROM AMERICAN WINE PROJECT Administrator Honer stated that the City has not received the application as of now. No further discussion was had. DISCUSSION OF 2026 CAPITAL PROJECTS Administrator Honer included the Capital Improvements plan in the meeting packet. The City is getting closer to obtaining funds to complete the TID project. Honer anticipates borrowing for the Water and Sewer Department for projects over the next couple of years. Approximatley $450,000 would be borrowed for water projects and $350,000 for sewer projects. Planned projects include water tower cleaning and inspection, rehabilitation for wells #3 and #4, a SCADA upgrade, sewer main inspections and linings, and lift station rehabilitations. The Committee also discussed the need to replace lead water lines in the City. The state set a deadline to have all lead services replaced by 2037. Alder Christensen stated the potential for donating for the bi-centennial celebrations for 2027. CONSIDERATION OF PAY APPLICATION #1 FROM G-PRO EXCAVATING, LLC FOR CORNISH PARK REVITALIZATION PROJECT 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 Administrator Honer stated that the sidewalk has an issues with drainage and it will need to be redone. He has talked with the engineer and the general contractor who are in agreement. The pay app only bills for 80% of the sidewalk work, which may correspond with the fix that needs to be performed. Administrator Honer is okay with this and recommends approving the pay application. Motion (Burrows/Goodney) to recommend Council approval of Pay Application #1 from G-Pro Excavating, LLC for the Cornish Park Revitalization Project. Motion carried, all voting aye (3-0). REVIEW MONTHLY TREASURER’S AND BUDGET REPORTS AND MONTHLY BILLS. Rolli walked through the treasurer’s report as well as the budget report. The City brought in 4% more than what was budgeted and 1% over budgeted expenses at this point. The Committee discussed holding off on reinvesting in Certificates of Deposits at this point due to the current interest rates. LGIP rates went below 4% for the first time in three years. All ARPA funds will be spent by the end of 2026 as required. Motion (Burrows/Christensen) to approve the treasurer’s and budget reports and recommend council pay the bills. Motion carried, all voting aye (3-0). DISCUSSION OF OTHER FINANCE MATTERS The Committee would like to see a plan for replacing lead lines in the City. ADJOURN Motion (Christensen/Goodney) to adjourn at 4:42 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