Finance Committee (Meets 4th Tuesday of each month at 4:30 p.m.)

FINANCE COMMITTEE Meeting Minutes December 08, 2022 Regular Meeting The meeting was called to order by Chair Sweeney at 4:31 pm on December 08, 2022 in Government Center Room 204. 1 ROLL CALL PRESENT: Jack Sweeney, Tylor Elm and Mike Herrick VIRTUAL: Jenny Van Sickle, Becky Alm and Jim Paine ABSENT: CITY STAFF PRESENT: Nick Rhinehart, Deb Kamunen, Jean Dotterwick OTHERS PRESENT: Emma Rae Hengemuhle, Johanna Cummins, Susanna Airis, Brianna Smith, Calla Gilbertson, Cheri Fitch, Sandy Bratz, Jacie Benesch, Bob McLellan, Jon Winter, Shelley Nelson and Kristen Haux 2 APPROVAL OF MINUTES 2.1 November 10, 2022 – Finance Committee Meeting MOTION to approve, by Councilor Elm, seconded by Councilor Herrick and carried. 3 OLD BUSINESS 4 NEW BUSINESS 4.1 Held from the September 8, 2022 Finance Committee Meeting – Humane Society 2022 Financials and Reports – receive and file. Cheri Fitch gave a thorough overview of the Humane Society’s mission statement, the animals in the building, education and training, and efforts for future planning concerning revenue streams and staffing. She also spoke about the capital improvement plan for 2023 and 2024, the treasurer’s report, decrease and increase in revenue in 2022, expenses and fundraising efforts since 2017 and upcoming events. A question and answer period followed. MOTION to hold in committee, by Councilor Elm, seconded by Councilor Herrick and carried until the Humane Society can furnish the last three years’ 1099’s and capital improvement plan. MOTION to move items 4.4, 4.5 and 4.6, in front of 4.2 by Councilor Elm, seconded by Councilor Herrick, and carried. 4.4 Request from Mayor Paine for approval of an amendment to the Positively Superior Contract. MOTION to approve, by Councilor Elm, seconded by Herrick and carried to approve an amendment to the Positively Superior Contract. 4.5 Request from Mayor Paine for approval of an amendment to the Douglas County FINANCE COMMITTEE – 11/10/2022 Mtg (Meets 2nd Thursday of each month at 4:30 p.m.) Page 1 of 3  Shared Employee Contract. MOTON to approve, by Councilor Elm, seconded by Herrick and carried to approve an amendment to the Douglas County Shared Employee Contract. 4.6 Held from the November 10, 2022 Finance Committee Meeting – Request from Mayor Paine for approval of proposed updated Travel and Expense Policy. MOTION to approve, by Councilor Elm, seconded by Herrick and carried to approve the updated Travel and Expense Policy. 4.2 Held from the November 20, 2022 Finance Committee Meeting - Superior Youth Organization (SYO) Financials, Inventory Listing, Report Detailing Participation Numbers, Repairs, and Volunteer Hours – receive and file. MOTION to hold in committee, by Councilor Herrick, seconded by Elm and carried until a representative of the Superior Youth Organization can attend the meeting. 3. Held from the November 10, 2022 and October 13, 2022 Finance Committee Meetings - Grant Application – Douglas County Historical Society. Business Manager, Jon Winter, provided previous 990’s, financial reports, a letter from their accountant and a list of improvements as previously requested by the committee. A question and answer period followed. A question arose regarding inflation and if it is written into policy. MOTION to hold in committee by Councilor Herrick, seconded by Councilor Elm, and carried to talk further about inflation rates.. 4.7 Third Quarter of 2022 investment review – receive and file. An investment summary handout was provided by Acting Finance Director Kamunen which she reviewed with the committee. Motion to receive and file, by Councilor Elm, seconded by Elm and carried. 5 RECURRING BUSINESS 5.1 Golf Course Financials – receive and file. MOTION to receive by Councilor Elm, seconded by Herrick, and carried. 5.2 Review November, 2022 check register – receive and file. MOTION to receive by Councilor Herrick, seconded by Elm, and carried. 5.3 Review General Fund Financial Statements – 2022 Expenditure vs. Budget Analysis as of November 30, 2022 – receive and file. MOTION to receive by Councilor Elm, seconded by Herrick, and carried. FINANCE COMMITTEE – 11/10/2022 Mtg (Meets 2nd Thursday of each month at 4:30 p.m.) Page 2 of 3 5.4 General Financial Overview 5.4.1 General updates. BakerTilly, the new auditor for 2023, has started their auditing process. 5.4.2 Update on top 3 financial concerns or updates. There were no top 3 financial concerns or updates. 5.5 Other financial matters. There were no other financial matters. 5.6 Agenda items for next month. There were no items mentioned for next month. 6 ADJOURNMENT Meeting adjourned at 6:26 p.m. Respectfully submitted by Jean Dotterwick. FINANCE COMMITTEE – 11/10/2022 Mtg (Meets 2nd Thursday of each month at 4:30 p.m.) Page 3 of 3 Handout at 12-08-2022 Finance Committee Meeting - Item 4.7 Third Quarter of 2022 investment review.