Finance Committee

City of Oconomowoc Finance Committee Meeting Minutes November 16, 2021 - 7:15 PM Aldermen Present: Matt Mulder, Matt Rosek Aldermen Absent: Karen Spiegelberg Also Present: Robert Magnus, Lucas Caine, Diane Coenen, Kevin Freber, Mark Frye, Craig Hoeppner, Scott Osborn, James Pfister, Joey Rahn, John Schuh, Laurie Sullivan, Christopher Douglas, Kevin Ellis, Charles Schellpeper, Brad Bowen Chairman Mulder called the Finance Committee Meeting to order at 7:07 PM. Call to order and confirmation of appropriate meeting notification Committee Business a. Consider/recommend Final Resolution 21-R2989 to Levy Special Assessments for the Silver Lake Street Sanitary Sewer Motion to recommend Final Resolution 21-R2989 to Levy Special Assessments for the Silver Lake Street Sanitary Sewer made by Rosek and seconded by Mulder. Motion carried 2-0-0. b. Voucher Report and October Financials - 2021 Motion to approve the vouchers in the amount of $5,867,351.23 made by Rosek and seconded by Mulder. Motion carried 2-0-0. c. Discussion of General Fund Analytical Review/Status Report - 3rd Quarter Sullivan reported on the 3rd Quarter General Fund review. This review is a new quarterly process to keep Council informed of any variances of 5% above, 75% below or variances greater than $10K versus what was budgeted. The Committee asked about the $880K in the American Rescue Fund. Sullivan stated it is a Federal fund in which we have four years to use and the Feds will provide guidance on eligible expenses we can use it for, with infrastructure being one of the uses. The Committee requested Sullivan provide the guidance and it will be included in a future Finance Committee packet. The Committee also requested a listing of City debt. Adjourn Motion to adjourn made by Rosek seconded by Mulder. Motion pending 2-0-0. The meeting adjourned at 7:24 PM. __________________________________ Minutes taken by Diane Coenen, City Clerk Alderman Rosek, Secretary 1 Finance Committee - November 16, 2021