Finance Committee

City of Oconomowoc Finance Committee Meeting Minutes August 27, 2024 - 4:00 PM Aldermen Present: Karen Spiegelberg, Jennifer Aultman Kloth, Matt Rosek Also Present: Robert Magnus, Diane Coenen, Mark Frye, Tony Posnik, Laurie Sullivan-Murray Chairman Spiegelberg called the Finance Committee Meeting to order at 4:00 PM and appropriate meeting notification was confirmed. Committee Business a. Consider/recommend 2025 Employee Health Plan and Coverage Changes Posnik reported on the changes to the City’s paid health insurance due to high increases in 2025. Staff recommends a $500 (single)/$1,000 (family) deductible plan funded by a City Health Reimbursement Account (HRA.) Motion to recommend 2025 Employee Health Plan and coverage changes made by Aultman Kloth and seconded by Rosek. Motion carried 3-0-0. b. Review/Discuss the 2nd Quarter 2024 Purchase Orders Approved Administratively The Committee had no concerns or questions. c. Review/Discuss 2nd Quarter Financial Update Sullivan-Murray gave a presentation using the Financial Transparency OpenGov link that is accessed from the City website. The Committee had no concerns. d. 2nd Quarter 2024 Financial Reports (April 1 - June 30, 2024) Sullivan-Murray displayed some of the documents/spreadsheet that were provided in the Finance Committee packet. Minimal questions by the Committee on the 2024 Financial Reports for the 2nd quarter. Adjourn Motion to adjourn made by Aultman Kloth and seconded by Rosek. Motion carried 3-0-0. The meeting adjourned at 4:44 PM. __________________________________ Minutes taken by Diane Coenen, City Clerk Alderman Aultman Kloth, Secretary 1 Finance Committee - August 27, 2024