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

FINANCE COMMITTEE Meeting Minutes July 13, 2023 Regular Meeting The meeting was called to order by Chair Sweeney at 4:30pm on July 13, 2023, in Government Center Room 204. 1 ROLL CALL PRESENT: Jack Sweeney, Tylor Elm, and Jenny Van Sickle (Alt) ABSENT: Mike Herrick CITY STAFF PRESENT: Nick Rhinehart, Frog Prell, and Jim Paine OTHERS PRESENT: Eric Thomas, Shelley Nelson, John Ramos and Cameron Vollbrecht 2. APPROVAL OF MINUTES 2.1 Finance Committee (Meeting held June 08, 2023) Motion was made by Tylor Elm, seconded by Jack Sweeney and carried to approve the June 08, 2023, Finance Committee minutes. 3 OLD BUSINESS 3.1 Barker’s Island Marina – Verizon cell phone tower sublease Additional questions about cell tower noise were presented to Eric Thomas. Eric will bring more information at the next finance committee. Motion was made by Tylor Elm, seconded by Jack Sweeney and carried to hold in Committee. 4 NEW BUSINESS 4.1 Review and analyze proposal from Douglas County regarding the city’s future as a tenant at the Government Center Mayor Jim Paine presented the proposed agreement brought forward by Douglas County and gave a brief history of the City of Superior’s occupancy in the building. Motion was made by Tylor Elm, seconded by Jenny VanSickle and carried to move meeting into closed session at approximately 5:33 PM per Wis. Stat. sec. 19.85(1)(e) for the purposes of deliberating strategies and setting parameters for the continued negotiation of rent and other terms relevant to the county’s proposed Agreement for city office space within the Government Center. Motion was made by Tylor Elm, seconded by Jenny Van Sickle and carried to move meeting into open session at approximately 6:00 pm. Motion was made by Tylor Elm, seconded by Jenny Van Sickle and carried to hold in committee the following items: 4.2, 5.1, 5.2, 5.3, and 5.4. 4.2 2nd Quarter Investment Statement 5.. RECURRING BUSINESS 5.1 Golf Course Report and Financial 5.2 May June 2023 Check Registers – 2023 expenditures 5.3 General Fund Financial Statements – 2023 and 2022 Expenditure vs. Budget Analysis as of June 2 30, 2023 5.4 Insurance Update 5.5 Other Financial Matters Director Rhinehart gave provided a brief explanation on Pledge Agreements. The committee would like a representative from the bank to further discuss Director Rhinehart reviewed questions about city internet services related to the Carnegie Library and Public Educational & Government Access Per request from the Finance Committee, Director Rhinehart presented the leased area for the C. Reiss Project. 6. ADJOURNMENT The meeting was adjourned at 6:19 p.m. Minutes respectfully submitted by Nick Rhinehart