Finance Committee

City of Oconomowoc Finance Committee Meeting Minutes May 15, 2023 - 6:00 PM Aldermen Present: Charles Schellpeper, Karen Spiegelberg, Andrew Moroni Also Present: Robert Magnus, Mark Frye, Laurie Sullivan-Murray, Chris Dehnert Chairman Schellpeper called the Finance Committee Meeting to order at 6:01 PM. Committee Business a. Review/Discuss First Quarter 2023 Financial Statement Detail Report Sullivan-Murray explained finance staff completed a review of all City funds for the first quarter and included notes for any account that showed a variance of 5% above or 25% below the amended budget and greater than $10,000. Council already gets monthly statements provided to them, and staff will do a report each quarter of city and utility funds. Questions on these reports should be directed to Sullivan-Murray and Frye. b. Demonstration-Intro to Financial Transparency Site Sullivan-Murray explained the City has created a new financial transparency site on the City’s website under the Finance Department. She demonstrated how to access the OpenGov site, reviewed reports that are available and how to use filters to get information. Sullivan-Murray also showed members the dashboard from her own computer, how to create reports on City accounts and will send the link to the members so they can create reports for themselves. She is still working out issues but this access will eventually be on the City’s website for the public to view. c. Review/Discuss 1st Quarter 2023 Purchase Order Report Sullivan-Murray explained the Purchase Order Report is done quarterly and consists of capital items which have been approved through the budget process and purchased. A copy of the Procurement Policy was provided in the packet. d. Review/Discuss Vouchers Sullivan-Murray said the packet included the vouchers. In the future there will be a statement on the voucher report that the members have been given an opportunity to review, and no signatures will be necessary. Members agreed and shared concerns over Amazon purchases by departments shown in the report. Sullivan-Murray circulated the April voucher report for signature. Adjourn Motion to adjourn made by Spiegelberg. Second by Moroni. Motion carried 3-0. The meeting adjourned at 7:02 PM __________________________________ Minutes taken by Chris Dehnert Deputy City Clerk Alderman Spiegelberg, Secretary Finance Committee - May 15, 2023