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

FINANCE COMMITTEE Meeting Minutes December 14, 2023, Regular Meeting The meeting was called to order by Chair Sweeney at 4:30pm on December 14, 2023, in Government Center Room 204. 1 ROLLCALL PRESENT: Jack Sweeney, Tylor Elm, and Mike Herrick VIRTUAL: Cheri Fitch, Jon Cheshire, Joeseph Titus, and Parks and Recreation Director Linda Cadotte CITY STAFF PRESENT: Nick Rhinehart, Ida Sampson, Renee Hoff, and Karie Markon OTHERS PRESENT: Shelley Nelson, Tom Beaudry, Jon Winter, Kristen Haux, Calla Gilbertson, Rebecca Alm, Emma Hengemuhle, Vincent Dodge. 2 APPROVAL OF MINUTES 2.1 Finance Committee (Meeting held November 9, 2023) Motion was made by Tylor Elm, seconded by Mike Herrick, and carried to approve the November 9, 2023, Finance Committee minutes. 3 OLD BUSINESS 3.1 Land Lease Amendment for Charter Fishing Dock on Barker’s Island. Nick Rhinehart spoke on behalf of the Charter Fishing Dock with two proposals, one with the CPI index increases as per requested. Motion was made by Tyler Elm, seconded by Mike Herrick, and carried to approve the Land Lease Amendment with the CPI index for Charter Fishing Dock on Barker’s Island. 3.2 James Crawford Sewage Credit Request. James Crawford was not in the Committee to speak on his behalf. No action taken. 3.3 Review and Analyze proposal from Douglas County regarding the city’s future as a tenant at the Government Center. No Action was taken 4 NEW BUSINESS 4.1 Open Meeting Law Review with City Attorney Frog Prell City Attorney Frog Prell was not in committee to speak on behalf of the Law Review. No Action was taken and held in committee. 4.2 2024 Nemadji Golf Course Budget Tom Beaudry spoke on Behalf of the Golf Course Budget review. A question-and-answer period was ensured. Motion was made by Tyler Elm and seconded Mike Herrick and carried to approve the 2024 Nemadji Golf Course Budget. 4.3 Non-Profit Grant Application – Douglas County Historical Society Jon Winter spoke on behalf of the Douglas County Historical Society. A question-and-answer period was ensured. Motion was made by Tylor Elm and seconded by Mike Herrick and carried to hold in committee the Non- Profit Grant Application – Douglas County Historical Society. 4.4 Douglas County Humane Society Contact Extension Rebecca Alm spoke on Behalf of the Douglas County Humane Society. A question-and-answer period was ensured. Motion was made by Tyler Elm and seconded by Mike Herrick and carried to approve the Douglas County Humane Society Contract Extension 4.5 Superior Youth Organization Annual Report Motion was made by Tylor Elm and seconded by Mike Herrick to receive and file the Superior Youth Organization Annual Report 4.6 Investment Summary 3rd Qtr 2023 Finance Director Nick Rhinehart spoke on behalf of the 3rd Qtr investment Summary. Question and answer period was ensured. Motion was made by Tylor Elm and seconded by Mike Herrick to receive and file the Investment Summary 3rd Qtr – 2023. 4.7 Urban Tree Fund Budget 2024 Motion was made by Mike Herrick and seconded by Tylor Elm to approve the Urban Tree Fund Budget 2024 4.8 Municipal Forest Fund Budget 2024 Finance director Nick Rhinehart spoke on the budget. A question-and-answer period was ensured with the Parks and Recreation director Linda Cadotte answering questions. Motion was made by Tylor Elm and seconded by Mike Herrick to approve the Municipal Forest Fund Budget 2024 4.9 Hotel Motel Tax Trust Fund Budget 2024 Motion was made by Tylor Elm and seconded by Mike Elm to approve the Hotel Motel Tax Trust Fund  Budget 2024 4.10 Liability Insurance Fund Budget 2024 Motion was made by Tylor Elm and seconded by Mike Herrick to hold in committee the Liability Insurance Fund Budget 2024. 5. RECURRING BUSINESS 5.1 Golf Course Report and Financials October 2023 Motion was made by Mike Herrick and seconded by Tylor Elm to receive and file the October 2023 Golf Course Financials. 5.2 November 2023 Check Registers – 2023 Expenditures Motion was made by Tylor Elm, seconded by Mike Herrick and carried to receive and file November 2023 check register. 5.3 General Fund Financial Statements - 2023 and 2022 Expenditures vs Budget Analysis as of December 6, 2023. Motion was made by Mike Herrick, seconded by Tylor Elm and carried to receive and file the General Fund Financial Statements – 2023 and 2022 Expenditures vs Budget Analysis as of December 6, 2023. 5.4 Insurance Update Counselor Sweeney stated that this was covered in 4.10 with the Insurance Fund Budget 5.5 Other Financial Matters Policy and Procedure Review Update Finance Director Nick Rhinehart spoke on behalf of the Policy and Procedure Review, stating that it is a work in progress Motion was made by Tylor Elm and seconded by Mike Herrick to approve the Policy and Procedure Review Annual Interest Allocation. Motion was made by Tylor Elm and seconded by Mike Herrick to approve the Policy and Procedure Review ARPA/SLFRF Funding Finance director Nick Rhinehart spoke on behalf of the ARPA/SLFRF fundings and was decided to watch the process of this account monthly. Remaining Budget Updates 6. ADJOURNMENT The meeting was adjourned at 6:39 p.m. Minutes respectfully submitted by Karie Markon