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

FINANCE COMMITTEE Meeting Minutes September 12, 2024, Regular Meeting The meeting was called to order by Chair Sweeney at 4:31pm on September 12, 2024, in Government Center Room 204. 1 ROLLCALL PRESENT: Jack Sweeney, Tylor Elm, and Mike Herrick VIRTUAL: Jim Paine (Mayor) Dan Walker (Nemadji Golf Course), Val (DCHS), Jenny Van Sickle (council alt) CITY STAFF PRESENT: Nick Rhinehart (Finance Director), Renee Hoff, and Karie Markon OTHERS PRESENT: Shelley Nelson, Katelyn Baumann, Suzanne Prochazka, Garner Moffat, Jordan Stish, Jon Winter, Erin Hicks, Kristen Haux, Jeffrey Dertman, and Jenice Meyer 2 APPROVAL OF MINUTES 2.1 Finance Committee (Meeting held August 8, 2024) Motion was made by Tylor Elm, seconded by Mike Herrick, and carried to approve the August 8, 2024, Finance Committee minutes. 2.2 Special Finance Committee (Meeting held August 28, 2024) Motion was made by Tylor Elm, seconded by Mike Herrick, and carried to approve the Special Finance Committee minutes (August 28, 2024). 3 OLD BUSINESS 3.1 Health Insurance Plan Review Finance Director Nick Rhinehart spoke on the different estimates that were received, but some quotes were lacking dental coverage and were waiting on those quotes, before final decision would be made. Health Insurance Plan Review is being held in committee. Councilor Tylor Elm proposed to move 4.2 and 5.7 to next on agenda. Motion was made by Mike Herrick and seconded by Tylor Elm to move subjects 4.2 and 5.7 to next on the agenda order. 3.2 Accounting Policies and Procedures Manual Review. Finance director Nick Rhinehart spoke on the creation of the current police manual. Questions to explore cost for a professional company to revise and bring the current manual up to date. Motion was made by Tylor Elm, seconded by Mike Herrick, and carried to hold in committee the Accounting Policies and Procedures Manual Review. 4 NEW BUSINESS 4.1 Finance Committee Meeting Time Finance Director Nick Rhinehart spoke that the current committee date is set for the 2nd Thursday of the month, and when articles get approved in the Finance Committee, the next step is to forward it to the City Council. To get these articles on the next city council meeting agenda, they must be submitted by noon on Friday. This time frame has been challenging to get new approvals submitted by the deadline. A few optional times will be submitted at the next meeting, to ensure that there is no other meeting overlap. Motion was made by Tyler Elm, seconded by Mike Herrick, and carried to hold in committee the Finance Committee Meeting times. 4.2 Superior Public Museums Memorandum of Understanding Extension Katelyn Baumann from the Superior Public Museums council updated the committee that an agreement to merge with the Douglas County historical Society was achieved. They currently were requesting an extension of the current MOU to December 31, 2024, to help maintain operations while they work on the current merger. Motion was made by Tylor Elm, seconded by Mike Herrick, To receive and file the Superior Public Museums Memorandum of Understanding Extension. 5 RECURRING BUSINESS 5.1 Golf Course Report and Financials July 2024 Dan Walker spoke on behalf of the July Golf Course Financials, a question and answer period was ensured. Motion was made by Tyler Elm, seconded by Mike Herrick, and carried to receive and file the Golf Course Report and Financials July 2024. 5.2 August 2024 Check Registers – 2024 Expenditure Councilor Tyler Elm requested if the register could be presented in a different format to make it easier to understand and read by city citizens. Motion was made by Mike Herrick, seconded by Tylor Elm, and carried to receive and file August Check Registers – 2024 Expenditures 5.3 General Fund Financial Statement – 2024 Expenditure vs Budget Analysis as of July 3, 2024 Finance Director Nick Rhinehart spoke on behalf of the General fund, citing everything is tracking well to date. Motion was made by Mike Herrick, seconded by Tylor Elm, and carried to receive and file the General Fund Financial Statement – 2023 and 2024 Expenditure vs Budget Analysis as of July 3, 2024. 5.4 American Rescue Plan Act (ARPA) Fund Budget Review Finance Director Nick Rhinehart spoke on behalf of the ARPA fund’s expenditures and the awarded project’s  budget tracking, and the remaining dollar amount unawarded. A question and answer period was ensured. Motion was made by Tylor Elm, seconded by Mike Herrick, and carried to receive and file the American Rescue Plan Act (ARPA) Fund Budget Review. 5.5 Insurance Update Finance Director Nick Rhinehart spoke to the council about the current insurance carrier and the length of time it was taking to resolve the current claim on the land fill compactor. This has sparked interest in researching other insurance companies. 5.6 Other Financial Matters Finance Director Nick Rhinehart spoke that the work on department budgets were nearing the end and was going better than anticipated. He also informed the council of the past week’s meetings on the new ERP project to update the city’s finance systems. 5.7 Superior Public Museums Update Katelyn Baumann from the Superior Public Museum confirmed an agreement was reached to merge with the Douglas County Historical Society. 6. ADJOURNMENT The meeting was adjourned at 6:00 p.m. Minutes respectfully submitted by Karie Markon