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, February 9, 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 (via phone) Others Present: Administrator Matt Honer, Clerk-Treasurer Christy Skelding, Deputy Clerk-Treasurer Renee Rolli APPROVAL OF JANUARY 12, 2026 MINUTES Motion (Goodney/Christensen) to approve the January 12, 2026, minutes. 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. January is typically a heavy month due to a lot of invoices being paid upfront for the entire year. 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 AND POSSIBLE CONSIDERATION OF AWARDING A CONTRACT FOR THE 2026 MINERAL POINT POOL CHEMICAL CONTROLLER PROJECT. The City has been working towards upgrading the Pool’s chemical system for the past two years. The project includes replacing electrical and mechanical components that are beyond their maintainable lifespan, and upgrading the system to be able to accommodate a liquid chlorine feed rather than the current gas chlorine feed. The first bidding of the project resulted in proposals significantly higher than anticipated. In working with Burbach Aquatics, the scope of work was decreased, removing the actual changeover from gas to liquid chlorine, to seek out a project that aligns more closely with the City’s financial plan. Pleva came in with the lowest bid. The Engineer has confirmed with Pleva that their bid is consistent with the plans. The total cost of the project is estimated at $78,500. The City’s initial budget of $50,000 to undertake this project was well short of the first bid results of $140k+. The remaining balance ($28,500) is a TID 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 eligible expense and Administrator Honer recommends this to be included in the anticipated borrowing event expected to take place in Spring 2026. Honer recommends working with Pleva for contracts 1 and 2, and the alternates. Motion (Burrows/Goodney) to recommend Council approval of awarding the Contract for the 2026 Mineral Point Pool Chemical Controller Project to Pleva. Motion carried, all voting aye (3-0). DISCUSSION AND CONSIDERATION OF 2026 BORROWING EVENT. Honer shared that when the City chose to complete the Brewery Creek Subdivision as a whole instead of in phases, the city needed to borrow money again. The amount the City would be requesting to borrow is estimated at $1,583,000. This borrowing would also include $28,000 for the pool chemical controller upgrade. The City did not borrow for water and sewer projects with the last borrowing event, however it looks like the city will need to borrow for these projects at this point. Some of the water and sewer projects have already begun. The Capital Improvements Plan for the Water Utility includes Well 3 and 4 rehabilitations, a corrosion control study, SCADA upgrade, and water tower valves. These projects would be included in the borrowing event. The Capital Improvements Plan for the Sewer Utility includes the sewer plant master plan, Fountain Street Lift Station rehabilitation/generator, and sewer main inspection/lining. The Sewer Utility has cash to fund these projects. Delta 3 Engineering is currently working with the DNR to acquire Safe Drinking Water and Clean Water Loan funds for the South/Commerce Street project. Honer will send the items on the Capital Improvements Plan to BAIRD, who will then send the City a revised financing plan. Motion (Goodney/Burrows) to recommend Council approval of the 2026 Borrowing for the Capital Projects as presented. Motion carried, all voting aye (3-0). DISCUSSION OF OTHER FINANCE MATTERS The city has approximately $6,700 in outstanding personal property taxes dating from mostly 2019-2020 that were never collected. Some of the businesses with outstanding balances no longer exist. Further, personal property tax no longer exists in the state. The auditor’s asked if the City would like to write that amount off and clear it from the books. Honer recommends Council to write-off the outstanding personal property tax amounts with a resolution. Committee members agree with this plan. The City received a $1M ear mark to replace lead service lines. At this point, there is no further information on the ear mark. ADJOURN Motion (Goodney/Christensen) to adjourn at 4:36 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