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

FINANCE COMMITTEE Meeting Minutes May 9, 2024, Regular Meeting The meeting was called to order by Chair Sweeney at 4:30pm on May 9, 2024, in Government Center Room 204. 1 ROLLCALL PRESENT: Jack Sweeney, and Mike Herrick VIRTUAL: Jenny Van Sickle (alt), Linda Cadotte CITY STAFF PRESENT: Nick Rhinehart, Renee Hoff, Mayor Jim Paine, and Karie Markon OTHERS PRESENT: Shelley Nelson, Eric Thomas, Jim Kelley, Katelyn Baumann, Magan Meyer, Danielle Gondik-Anderson, Scott Wallen, Nolen Glonek, Suzanne Rochazka, Garner Moffat, Mark Liebaert, Kristen Haux, Brian Finstad, Erin Hicks, Dale Koziol, Stewart Platner, Brittany Plachicki, Jon Winters, and Jon Ramos. 2 APPROVAL OF MINUTES 2.1 Finance Committee (Meeting held March 14, 2024) Motion was made by Mike Herrick, seconded by Jenny Van Sickle, and carried to approve the March 14, 2024, Finance Committee minutes. 2.2 Special Finance Committee (Meeting held March 28, 2024) Motion was made by Mike Herrick, seconded by Jenny Van Sickle, and carried to approve and file the March 28, 2024, Special Finance Committee minutes 3 OLD BUSINESS 3.1 Landfill Fees/Parkland Trailer Parks – Douglas County Fee Waiver Request Mark Liebaert spoke on behalf of the Trailer parks clean up and cost occurred to complete this task. Mayor Paine proposed to suspend fees until all the final numbers have been received and the final cost for the clean-up has been correlated. Motion was made by Mike Herrick, seconded by Jack Sweeney to approve suspending any fees until such time the County reclaims all costs. Counciler Sweeney proposed to move 3.2 to later in meeting. 3.2 Review and analyze proposal from Douglas County regarding the city’s future as a tenant at the Government Center. 4 NEW BUSINESS 4.1 Barkers Island Marina – 2023 Financial Statements Eric Thomas spoke on Barkers Island Marina behalf, financials and fees increases with inflation increases. Motion was made by Mike Herrick, seconded by Jack Sweeney, and carried to approve to receive and file the Barkers Island Marina – 2023 Financial statements. 4.2 2024 Tax Increment Financing Budgets and Appropriations Finance Director Nick Rhinehart spoke on behalf 2024 Tax Increment Financing Budgets and Appropriations. Motion was made by Mike Herrick, and seconded by Jenny Van Sickle, to approve and file the 2024 Tax Increment Financing Budgets and Appropriations. 4.3 2024 Revolving Grant Fund Budget Finance Director Nick Rhinehart spoke on behalf of the 2024 Revolving Grant Fund Budget Motion was made by Mike Herrick, and seconded by Jenny Van Sickle, and carried to approve and file the 2024 Revolving Grant Fund Budget. 4.4 Superior Public Museums Memorandum of Understanding Review Mayor Paine recently introduced the proposal to merge Superior Public Museums with the Douglas County Historical Society, following the departure of the Executive Director of Superior Public Museums. This move aims to consolidate resources and streamline operations under a single organization. The current Memorandum of Understanding (MOU) between the two entities would become void with the creation of a new organization. This raises concerns about the 90-day termination clause stipulated in the existing MOU. Superior Public Museums expressed that the 90-day period may be insufficient to complete the merger process, potentially disrupting ongoing projects and operations. Mayor Paine has acknowledged these concerns, suggesting that the termination period could be extended with city council approval if necessary to ensure a smooth transition. This flexibility may be crucial in addressing the logistical and administrative challenges that such a merger entails. Finance Director Rhinehart highlighted additional concerns. Firstly, any contract exceeding $25,000 would be subject to bid requirements, introducing potential delays and complications. Secondly, Superior Public Museums currently receives Room Tax revenue based on city ordinance. This ordinance would need to be amended to allow the new organization to continue receiving these funds, adding another layer of complexity to the merger process. Motion was made by Mike Herrick, and seconded by Jenny Van Sickle to hold in committee the Superior Public Museums Memorandum of Understanding Review. Motion failed, 1 Yes(Herrick) , 2 No (Sweeney & Van Sickle) Motion was made by Mike Herrick, and seconded by Jenny Van Sickle, and carried to eliminate the Memorandum of Understanding and begin the 90-day termination clause pending City Council approval. Councilor Sweeney called to move back to 3.2 3.2 Review and analyze proposal from Douglas County regarding the city’s future as a tenant at the Government Center. Upon a proper motion and second, the committee may convene in closed session under Wis. Stat. sec.  19.85(1) (e) for the purpose 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 within the Government Center. Closed session was requested going forward. Motion was made by Mike Herrick, and 2nd by Jenny Van Sickle to move into closed session at 6:11pm. Motion was made by Mike Herrick, and 2nd by Jenny Van Sickle to move out of closed session at 7:10pm. Motion was made by Mike Herrick, and seconded by Jack Sweeney to hold in committee 4.5 through 5.7 4.5 Investment Summary 1st Quarter 5 RECURRING BUSINESS 5.1 Golf Course Report and Financials March 2024 5.2 2024 Golf Course Capital Lease Appropriations. 5.3 March and April 2024 Check Registers – 2023 & 2024 Expenditure 5.4 General Fund Financial Statement – 2023 and 2024 Expenditure vs Budget Analysis as of May 3, 2024 5.5 American Rescue Plan Act (ARPA) Fund Budget Review 5.6 Insurance Update 5.7 Other Financial Matters 6. ADJOURNMENT The meeting was adjourned 7:12 p.m. Minutes respectfully submitted by Karie Markon  Handout for Item 4.1 ~·~ Barbers Island Marina Annual Sales 2024 2023 2022 2021 2020 Guest Dockage $ 18,020.00 $ 19,017.00 $ 19,435.00 $ 20,663.00 $ 23,623.00 Seasonal Dockage $ 664,327.00 $ 641,703.00 $ 606,421.00 $ 480,919.00 $ 488,804.00 Outdoor Storage $ 150,811.00 $ 145,321.00 $ 147,783.00 $ 163,550.00 $ 148,553.00 Indoor Storage $ 272,526.00 $ 243,289.00 $ 242,257.00 $ 209J28.00 $ 244,650.00 Annual Total $ 1,105,684.00 $ 1,049,330.00 $ 1,015,896.00 $ 874,860.00 $ 905,630.00 ANNUAL RENT $ 597,069.00 $ 566,638.00 $ 548,583.00 $ 472,424.00 $ 489,040.00