Finance Committee

City of Oconomowoc Finance Committee Meeting Minutes February 14, 2022 - 4:30 PM Aldermen Present: Matt Mulder, Matt Rosek, Karen Spiegelberg Also Present: Robert Magnus, Diane Coenen, Mark Frye, Laurie Sullivan Chairman Mulder called the Finance Committee Meeting to order at 4:30 PM. Call to order and confirmation of appropriate meeting notification Committee Business a. Consider/recommend Budget Amendment for 4th Quarter 2021 Grants and Donations Received (10/1/21 - 12/31/21) Motion to recommend Budget Amendment for 4th Quarter 2021 Grants and Donations received (10/1/21 - 12/31/21) made by Rosek and seconded by Spiegelberg. Motion carried 3-0-0. b. Consider/act on Vouchers 1. Review/Discuss January 2022 Voucher Report Motion to approve the vouchers in the amount of $5,773420.21 made by Rosek and seconded by Spiegelberg. Motion carried 3-0-0. Frye reported as part of the Strategic Plan the need was identified to review Committee structures/roles and the goal is to improve the effectiveness. Staff is starting the process by holding the Finance Committee on an off-night and noted that Policy level discussions need more time than standard operations issues. Staff is looking for direction. c. Discuss Committee Structure and Future Meeting Dates The Committee favors a quarterly or 3 times a year meeting for more in-depth information. It was suggested the Department Head should approach the Committee Chair, Mayor and Administrator to determine if a Special Meeting is necessary. d. Discuss 2022 Budget Calendar Sullivan handed out a Capital and Operating Budget calendar of 2022 meeting dates. The Committee requested salary splits between departments shown as a total, not just a percentage. The Committee also wants to see grand totals for all account numbers such as Training and Travel, Office Supplies, etc. In addition, the Committee would like to go back to having the Public Hearing and adoption of the budget on the same night. 1 Finance Committee - February 14, 2022  e. Discuss Future Agenda Items No items were noted. f. Report - Finance Department January 2022 Sullivan referenced her memo in the Committee packet. Adjourn Motion to adjourn made by Rosek and seconded by Spiegelberg. Motion carried 3-0-0. The meeting adjourned at 5:17 PM. __________________________________ Minutes taken by Diane Coenen, City Clerk Alderman Rosek, Secretary 2 Finance Committee - February 14, 2022